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IDM Mining announces final assays

Mining News - Published on Mon, 11 Feb 2019

Image Source: SteelGuru
IDM Mining Ltd announced that final assays have been received from 2018 trenching of the Randell Vein area located in the Lost Valley area, four kilometers south of the Red Mountain Resource area. Additionally, surface sampling assays from the Meg, Cambria and Dave's Trench areas on the Red Mountain Property, located in the Golden Triangle of northwest BC, 15 kilometers northeast of the mining town of Stewart, BC.

Located in an area of recent glacial retreat, trenching during 2018 exposed a high-grade structure at Lost Valley and traced over 300 meters of strike through systematic panel sampling, channel sampling and trenching. The final round of sampling includes 1.0 to 1.5-meter-long panel samples from multiple trenches in a 9.0 by 7.3 meter area. 21 samples were collected averaging 7.17 g/t Au and 56.64 g/t Ag. Good continuity was exhibited in adjacent samples, with assays ranging from 1.65 to 15.38 g/t Au and 8.69 to 203 g/t Ag. Sample material is primarily quartz/pyrite colluvium, overlain by granite-dominated talus suggesting that the mineralization is deteriorating in place by weathering and glacial unloading. The shallow-dipping Money Rock zone hosts banded quartz with strong sulphide mineralization, primarily coarse pyrite, with accessory molybdenite, chalcopyrite, sphalerite and bismuthinite. The structure ranges from 0.5 to over 9.0 meters in thickness, where exposed. High-grade silver samples in local panels within the Money Rock structure (previously reported) include: 2,617, 2,059 and 846 g/t Ag.

The Lost Valley area has received extensive prospecting and sampling by IDM. Since 2014, 713 samples have been collected, including panel, channel, grab and float samples. The average of all samples is 6.05 g/t Au and 38. 67 g/t Ag, with samples ranging from trace to 165 g/t Au and trace to 2059 g/t Ag. A total of 237 samples assayed over 1.0 g/t Au, 117 over 5.0 g/t Au and 44 over 30 g/t Au.

Trenching completed during 2018 connected the high-grade Money Rock and Randell Zones which originally were interpreted to be separate structures since discovery in 2016. Gold mineralization at Lost Valley occurs within broad stockworks of gold-silver-molybdenum mineralization within an early-Tertiary granite, similar to the late-Cretaceous age Tintina Gold belt intrusive-related deposits located within Alaska and Yukon, such as Fort Knox and Eagle Gold (Dublin Gulch). The high-grade gold-silver vein-hosted mineralization that was the focus of the 2018 trenching program is similar in structure and geochemistry to the Pogo Deposit, an underground gold mine in Alaska.

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Posted By : Rabi Wangkhem on Mon, 11 Feb 2019
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