VANCOUVER, Sept. 20, 2018 /CNW/ - IDM Mining Ltd. (TSX.V:IDM) (OTCQB:IDMMF) ("IDM" or the "Company") announces that the Canadian Environmental Assessment Agency ("CEA Agency") has initiated the final stage of the Red Mountain Gold Project ("Red Mountain" or the "Project") environmental assessment process. Specifically, the CEA Agency has invited the public, Nisga'a Nation and interested stakeholders to comment on the draft Environmental Assessment Report and the Potential Conditions that would be applied and be legally binding following an approval of the Project by the Minister of Environment and Climate Change.
"We are nearing the completion of both the Provincial and Federal environmental assessment process for the Red Mountain Project," said Michael McPhie, Chair of IDM Mining's Board of Directors. "With a decision from the Provincial government of British Columbia expected imminently and the Federal process entering its final stage, the full value of our high-value gold development project in BC's Golden Triangle is near to being realized."
This public comment period runs until October 18, 2018. Links to the draft Environmental Assessment Report and potential federal conditions are provided below:
IDM encourages the public, interested parties and stakeholders to review and comment during the next month.
In 2017, IDM submitted an Application for an underground gold mine at Red Mountain, mill and tailings site in the adjacent Bitter Creek Valley, water treatment facilities, access road from Highway 37A just north of Stewart, BC and powerline interconnection from BC Hydro grid. The Application Review phase included environmental and socioeconomic reviews with dozens of technical working group members and stakeholders, with respectful and thorough consultation with the Nisga'a Nation.
Canadian Environmental Assessment Act Review
The Project was referred by the BC Environmental Assessment Office ("BC EAO") to the Minister of Energy, Mines and Petroleum Resources and the Minister of Environment for consideration and approval on August 28, 2018 (see IDM Press Release on August 29, 2018). The Ministers' have 45 days to make their decision.
The Project is also subject to a coordinated review by the CEA Agency under the Canadian Environmental Assessment Act, 2012 (CEAA 2012). The Project is now entering the final public consultation stage of the federal process. IDM anticipates receiving Federal approval from the Minister of Environment and Climate in late 2018 or early 2019.
ABOUT IDM MINING LTD.
IDM Mining Ltd. is an exploration and development company based in Vancouver, BC, Canada focused on advancing the Red Mountain Gold Project towards production. The 17,125 hectare Red Mountain Gold Project is located in northwestern BC, 15 km northeast of the mining town of Stewart. IDM recently announced increased high-grade, near-surface measured and indicated resources. Located near a paved highway and grid power, IDM envisions bulk underground mining methods at the Project, with gold-silver doré produced on site.
ON BEHALF OF THE BOARD of IDM Mining Ltd.
President, CEO and Director
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the proposed exploration and development activities and their timing, resource estimates and potential mineralization. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others and in addition to those described elsewhere in this release, timing and success of future exploration and development activities, exploration and development risks, delays in obtaining or inability to obtain required government or other regulatory approvals, permits or financing, the risk of unexpected variations in mineral resources, grade or recovery rates, of failure of plant, equipment or processes to operate as anticipated, of accidents, labor disputes, and unanticipated delays in completing other development activities, the risk that estimated costs will be higher than anticipated and the risk that the proposed mine plan and recoveries will not be achieved, equipment breakdowns and bad weather, the timing and success of future exploration and development activities, exploration and development risks, mineral resources are not as estimated, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors and general economic conditions. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: required regulatory approval, permits and financing will be obtained; the proposed exploration and development will proceed as planned; with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based; that the proposed mine plan and recoveries will be achieved, that capital costs and sustaining costs will be as estimated, and that no unforeseen accident, fire, ground instability, flooding, labor disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur, and market fundamentals will result in sustained metals and minerals prices. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
SOURCE IDM Mining Ltd.
For further information: Robert McLeod, 604-681-5672 direct, 604-617-0616 cell, [email protected]; Investor Relations: Vanessa Pickering, 604-681-5672 office ext 7112, 604-202-2940 mobile, [email protected]