Received by email:
File: IDM NR 2014_14 141 zone drill results final.pdf
IDM Mining Intersects 138 meters of 1.41 g/t Au Including: 7.5 meters
of 10.45 g/t Au at 141 Zone, Red Mountain Project
November 13, 2014, Vancouver, BC � IDM Mining Ltd. (TSX:IDM) ("IDM" or the "Company") is
pleased to announce that it has received results from step-out holes at the 141 Zone from the
Red Mountain Gold Project ("Red Mountain" or the "Project"), located 15 kilometers northeast of
Stewart, British Columbia.
During September and October of 2014, a total of twelve diamond drill holes were completed at
Red Mountain, primarily focused on exploration targets outside of the current resource area.
Three holes were completed at the 141 Zone, the results of which are reported below. Wide-
spaced historic drilling in this area had previously intersected high-grade intervals of gold
mineralization, contained within larger intercepts of lower-grade porphyry-style gold
mineralization. The 141 Zone is located 280 meters southwest of the Marc/AV/JW Zones, which
host the current mineral resources at Red Mountain, prepared in compliance with NI 43-101
("Resource Area"); a proposed production ramp outlined in IDM's Preliminary Economic
Assessment is projected to pass through the 141 Zone area (see IDM News Release July 23,
2014).
Drilling at the 141 Zone had two important objectives: (1) target high-grade underground
mineralization similar to the Resource Area; and (2) confirm the presence of wide intervals of
lower-grade porphyry-style gold mineralization, similar to other large gold deposits in
northwestern BC. Drill hole MC14-03 accomplished both tasks, intersecting a high-grade zone
of 7.5 meters averaging 10.45 g/t Au, within a broad, lower-grade interval of 138 meters
averaging 1.41 g/t Au starting at 64 meters below surface. This hole was completed at 202
meters depth and ended in mineralization. Drill hole MC14-02 was completed at a shallower
angle from the same pad, and intersected 84 meters averaging 0.80 g/t Au. Drill hole MC14-01,
collared 65 meters west of holes MC14-02 and MC14-03, intersected 60.00 meters averaging
1.16 g/t Au.
Drill holes MC14-02 and MC14-03 were 50 meter step-out holes to the east from historic drill
intercepts, including: underground hole U94-1148 which intersected 122.50 meters averaging
3.35 g/t Au, including a high grade zone of 6.00 meters averaging 32.87 g/t Au and 5.00 meters
averaging 11.12 g/t Au (for additional historic 141 Zone intercepts, see IDM News Release
dated September 11, 2014). Following a review of historic data, in combination with recent drill
results, the Company believes that one or more high-grade zones similar in style to the
Resource Area may be emerging. Additionally, data suggests that these higher-grade zones
are hosted within a larger, lower-grade porphyry-style gold system including multiple intervals
ranging from 15.0 to >170 meters thick averaging over 1.0 g/t Au. These drill holes span a
broad area at least 325 meters long by 350 meters wide and open in all directions.
"These new results and interpretation at the 141 Zone are highly significant for the Red
Mountain Project," said Robert McLeod, President and CEO of IDM. "The high grade
mineralization encountered is complimentary to the underground mine development plan
outlined in our July 2014 PEA, whereas the broad lower grade intercepts confirm the significant
gold endowment of the mineralizing system at Red Mountain."
Further sampling of historic 141 Zone drill core has been completed, with results to be
announced shortly. Due to the wide-spaced drilling and complex geology of the 141 Zone,
1
further interpretation will be required to determine the true thickness and orientation of
mineralization; this work will be completed over the coming months.
Complete results of recently completed drilling from the 141 Zone are as follows:
From Length
Hole-ID (m) To (m) (m) Au (g/t)
MC14-01 66.4 70.3 3.9 4.7
including 69.4 70.3 0.9 16.4
and 93.0 266.5 173.5 0.65
including 93.0 153.0 60.0 1.16
MC14-02 68.5 152.5 84.0 0.8
including 106 119.5 13.5 1.87
MC14-03 64.0 202.0 138.0 1.41
including 76.0 83.5 7.5 10.45
Gold mineralization at the 141 Zone is hosted within a complex assemblage of strongly altered
hornblende-feldspar porphyry dykes and sills, intruding tuffaceous volcanics and sediments.
Stockworks, veins and disseminations of pyrite and pyrrhotite correlates well with gold values,
typically in areas of strong sericite, potassium feldspar alteration and silicification.
IDM has also recently completed drilling at the Cambria Zone, Marc Extension Zone, and AV
Zone. Results from nine additional holes from these areas will be announced shortly.
ABOUT RED MOUNTAIN
IDM is currently earning into an option to acquire a 100% interest in the 17,125 hectare Red
Mountain property, located 15 kilometers northeast of Stewart, BC. Numerous precious and
base metal targets have been identified by IDM and previous operators over a 15 by 4 kilometer
trend of strong alteration and mineralized prospects. Since discovery in 1989, in excess of $40
million has been spent on the Property including a production-sized underground ramp.
IDM recently announced positive results from a NI 43-101 PEA and revised Resource Estimate
completed by JDS Energy & Mining Ltd. for the Red Mountain project (see IDM news release
dated July 23, 2014). A technical report prepared in compliance with the requirements of the
Canadian Securities Administrators' NI 43-101 has been filed on SEDAR and the Company's
website.
At a 3.0 g/t Au cutoff, Measured and Indicated Resources from the Marc and AV Zones at Red
Mountain are 1,454,300 tonnes averaging 8.15 g/t Au and 29.57 g/t Ag totaling 380,900 oz Au
and 1,382,800 oz Ag. Inferred Resources from the Marc, AV and JW Zones are 332,900 tonnes
averaging 7.69 g/t Au and 12.72 g/t Ag totaling 82,300 oz Au and 136,200 oz Ag.
QA/QC
The 2014 exploration program at Red Mountain includes a rigorous Quality Control/Quality
Assurance program, overseen by Rob McLeod, P.Geo, President and CEO of IDM, a Qualified
2
Person as defined by NI 43-101. Drill cores were logged and cut in-half using a diamond saw,
with one half placed in sealed bags and shipped to Acme Analytical Labs' sample preparation
facility in Smithers, BC, with pulps subsequently shipped to Acme's Lab in Vancouver, BC. 10%
of all samples submitted include randomly inserted blank material or multiple quality control
standards. An additional 10% of samples will be shipped to a third party analytical lab. Mr.
McLeod has prepared and approved the technical information contained within this release.
ABOUT IDM MINING LTD.
IDM Mining Ltd. is mineral exploration company (TSX: IDM) based in Vancouver, BC, Canada.
The Company's current exploration activities are focused on precious metals in British Columbia
and the Carolina Slate Belt, USA. Further information can be found on the Company's website
at www.IDMmining.com.
ON BEHALF OF THE BOARD
of IDM Mining Ltd.
"Robert McLeod"
President, CEO and Director
For more information, contact:
Robert McLeod
604-681-5672 direct
604-617-0616 cell
rm@idmmining.com
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 proposed exploration and development
activities and their timing, resource estimates and potential mineralization, the PEA, including estimates
of capital and sustaining costs, anticipated internal rates of return, mine production, estimated recoveries,
mine life, estimated payback period and net present values, opportunities to enhance the value of the
Red Mountain Project and other plans and objectives of IDM. 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, 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 approvals, 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
3
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.
4
File: IDM NR 2014_14 141 zone drill results final.docx
IDM Mining Intersects 138 meters of 1.41 g/t Au Including: 7.5 meters of 10.45 g/t Au at 141 Zone, Red Mountain Projec
--->t
November 13, 2014, Vancouver, BC - IDM Mining Ltd. (TSX:IDM) ("IDM" or the "Company") is pleased to announce that it h
--->as received results from step-out holes at the 141 Zone from the Red Mountain Gold Project ("Red Mountain" or the "Pro
--->ject"), located 15 kilometers northeast of Stewart, British Columbia.
During September and October of 2014, a total of twelve diamond drill holes were completed at Red Mountain, primarily
--->focused on exploration targets outside of the current resource area. Three holes were completed at the 141 Zone, the
--->results of which are reported below. Wide-spaced historic drilling in this area had previously intersected high-grade
---> intervals of gold mineralization, contained within larger intercepts of lower-grade porphyry-style gold mineralizatio
--->n. The 141 Zone is located 280 meters southwest of the Marc/AV/JW Zones, which host the current mineral resources at R
--->ed Mountain, prepared in compliance with NI 43-101 ("Resource Area"); a proposed production ramp outlined in IDM's P
--->reliminary Economic Assessment is projected to pass through the 141 Zone area (see IDM News Release July 23, 2014).
Drilling at the 141 Zone had two important objectives: (1) target high-grade underground mineralization similar to the
---> Resource Area; and (2) confirm the presence of wide intervals of lower-grade porphyry-style gold mineralization, simi
--->lar to other large gold deposits in northwestern BC. Drill hole MC14-03 accomplished both tasks, intersecting a high-g
--->rade zone of 7.5 meters averaging 10.45 g/t Au, within a broad, lower-grade interval of 138 meters averaging 1.41 g/t
--->Au starting at 64 meters below surface. This hole was completed at 202 meters depth and ended in mineralization. Dri
--->ll hole MC14-02 was completed at a shallower angle from the same pad, and intersected 84 meters averaging 0.80 g/t Au.
---> Drill hole MC14-01, collared 65 meters west of holes MC14-02 and MC14-03, intersected 60.00 meters averaging 1.16 g/
--->t Au.
Drill holes MC14-02 and MC14-03 were 50 meter step-out holes to the east from historic drill intercepts, including: un
--->derground hole U94-1148 which intersected 122.50 meters averaging 3.35 g/t Au, including a high grade zone of 6.00 met
--->ers averaging 32.87 g/t Au and 5.00 meters averaging 11.12 g/t Au (for additional historic 141 Zone intercepts, see ID
--->M News Release dated September 11, 2014). Following a review of historic data, in combination with recent drill resul
--->ts, the Company believes that one or more high-grade zones similar in style to the Resource Area may be emerging. Add
--->itionally, data suggests that these higher-grade zones are hosted within a larger, lower-grade porphyry-style gold sys
--->tem including multiple intervals ranging from 15.0 to >170 meters thick averaging over 1.0 g/t Au. These drill holes
--->span a broad area at least 325 meters long by 350 meters wide and open in all directions.
"These new results and interpretation at the 141 Zone are highly significant for the Red Mountain Project," said Rober
--->t McLeod, President and CEO of IDM. "The high grade mineralization encountered is complimentary to the underground mi
--->ne development plan outlined in our July 2014 PEA, whereas the broad lower grade intercepts confirm the significant go
--->ld endowment of the mineralizing system at Red Mountain."
Further sampling of historic 141 Zone drill core has been completed, with results to be announced shortly. Due to the
--->wide-spaced drilling and complex geology of the 141 Zone, further interpretation will be required to determine the tru
--->e thickness and orientation of mineralization; this work will be completed over the coming months.
Complete results of recently completed drilling from the 141 Zone are as follows:
Hole-ID
From (m)
To (m)
Length (m)
Au (g/t)
MC14-01
66.4
70.3
3.9
4.7
including
69.4
70.3
0.9
16.4
and
93.0
266.5
173.5
0.65
including
93.0
153.0
60.0
1.16
MC14-02
68.5
152.5
84.0
0.8
including
106
119.5
13.5
1.87
MC14-03
64.0
202.0
138.0
1.41
including
76.0
83.5
7.5
10.45
Gold mineralization at the 141 Zone is hosted within a complex assemblage of strongly altered hornblende-feldspar porp
--->hyry dykes and sills, intruding tuffaceous volcanics and sediments. Stockworks, veins and disseminations of pyrite an
--->d pyrrhotite correlates well with gold values, typically in areas of strong sericite, potassium feldspar alteration an
--->d silicification.
IDM has also recently completed drilling at the Cambria Zone, Marc Extension Zone, and AV Zone. Results from nine add
--->itional holes from these areas will be announced shortly.
ABOUT RED MOUNTAIN
IDM is currently earning into an option to acquire a 100% interest in the 17,125 hectare Red Mountain property, locate
--->d 15 kilometers northeast of Stewart, BC. Numerous precious and base metal targets have been identified by IDM and pr
--->evious operators over a 15 by 4 kilometer trend of strong alteration and mineralized prospects. Since discovery in 19
--->89, in excess of $40 million has been spent on the Property including a production-sized underground ramp.
IDM recently announced positive results from a NI 43-101 PEA and revised Resource Estimate completed by JDS Energy & M
--->ining Ltd. for the Red Mountain project (see IDM news release dated July 23, 2014). A technical report prepared in com
--->pliance with the requirements of the Canadian Securities Administrators' NI 43-101 has been filed on SEDAR and the Com
--->pany's website.
At a 3.0 g/t Au cutoff, Measured and Indicated Resources from the Marc and AV Zones at Red Mountain are 1,454,300 tonn
--->es averaging 8.15 g/t Au and 29.57 g/t Ag totaling 380,900 oz Au and 1,382,800 oz Ag. Inferred Resources from the Mar
--->c, AV and JW Zones are 332,900 tonnes averaging 7.69 g/t Au and 12.72 g/t Ag totaling 82,300 oz Au and 136,200 oz Ag.
QA/QC
The 2014 exploration program at Red Mountain includes a rigorous Quality Control/Quality Assurance program, overseen b
--->y Rob McLeod, P.Geo, President and CEO of IDM, a Qualified Person as defined by NI 43-101. Drill cores were logged an
--->d cut in-half using a diamond saw, with one half placed in sealed bags and shipped to Acme Analytical Labs' sample pre
--->paration facility in Smithers, BC, with pulps subsequently shipped to Acme's Lab in Vancouver, BC. 10% of all samples
---> submitted include randomly inserted blank material or multiple quality control standards. An additional 10% of sampl
--->es will be shipped to a third party analytical lab. Mr. McLeod has prepared and approved the technical information co
--->ntained within this release.
ABOUT IDM MINING LTD.
IDM Mining Ltd. is mineral exploration company (TSX: IDM) based in Vancouver, BC, Canada. The Company's current explo
--->ration activities are focused on precious metals in British Columbia and the Carolina Slate Belt, USA. Further inform
--->ation can be found on the Company's website at www.IDMmining.com.
ON BEHALF OF THE BOARD
of IDM Mining Ltd.
"Robert McLeod"
President, CEO and Director
For more information, contact:
Robert McLeod
604-681-5672 direct
604-617-0616 cell
rm@idmmining.com
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-lookin
--->g statements for the purposes of applicable securities laws. These statements include, among others, statements with
--->respect to proposed exploration and development activities and their timing, resource estimates and potential minerali
--->zation, the PEA, including estimates of capital and sustaining costs, anticipated internal rates of return, mine produ
--->ction, estimated recoveries, mine life, estimated payback period and net present values, opportunities to enhance the
--->value of the Red Mountain Project and other plans and objectives of IDM. These statements address future events and c
--->onditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual r
--->esults, performance or achievements to be materially different from any future results, performance or achievements ex
--->pressed or implied by the statements. Such factors include, among others and in addition to those described elsewhere
---> in this release, delays in obtaining or inability to obtain required government or other regulatory approvals, permit
--->s 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 pro
--->posed mine plan and recoveries will not be achieved, equipment breakdowns and bad weather, the timing and success of f
--->uture exploration and development activities, exploration and development risks, mineral resources are not as estimate
--->d, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive f
--->actors and general economic conditions. In making the forward-looking statements, the Company has applied several mat
--->erial assumptions including, but not limited to, the assumptions that: required approvals, permits and financing will
--->be obtained; the proposed exploration and development will proceed as planned; with respect to mineral resource estima
--->tes, 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 an
--->d minerals prices. The Company expressly disclaims any intention or obligation to update or revise any forward-lookin
--->g statements whether as a result of new information, future events or otherwise except as otherwise required by applic
--->able securities legislation.
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