IDM Mining granted federal Environmental Assessment approval for the Red Mountain Gold Project
IDM Mining Ltd. ("IDM" or the "Company") announced that on January 14, 2019, the Canadian Environmental Assessment Agency ("CEAA") issued a positive Decision Statement for the Company's wholly-owned Red Mountain Underground Gold Project ("Red Mountain" or "the Project").
The Honourable Catherine McKenna, Minister of Environment and Climate Change, announced in her decision that pursuant to the Canadian Environmental Assessment Act, 2012 (CEAA 2012), the proposed Red Mountain Underground Gold Project is not likely to cause significant adverse environmental effects and the project may proceed. The Project is an underground gold-silver mine proposed by IDM and located 15 kilometres northeast of Stewart, British Columbia.
As part of the Environmental Assessment Decision Statement, the Minister established more than 120 conditions that IDM must fulfill throughout the life of the Project. The purpose of these conditions is to reduce or eliminate the potential effects of the Project on the environment and include measures to protect fish and fish habitat, migratory birds, species at risk, human health, physical and cultural heritage and the current use of lands and resources for traditional purposes by Indigenous peoples. The Environmental Assessment Decision Statement can be reviewed at: https://ceaa-acee.gc.ca/050/documents/p80093/126512E.pdf.
On October 5th, 2018, the Province of British Columbia issued an Environmental Assessment ("EA") Certificate to IDM under the BC Environmental Assessment Act for the Project. The Project is also subject to requirements under the Nisga'a Final Agreement, a modern treaty signed by the governments of Canada, British Columbia and the Nisga'a Nation. In accordance with the treaty, the Minister's Project Recommendation includes a determination of the potential effects of the project under the Nisga'a Final Agreement.
The Red Mountain Underground Gold Project will now proceed to the regulatory phase during which Fisheries and Oceans Canada and Natural Resources Canada will consider their respective permitting and regulatory decisions.
About IDM and Red Mountain
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.
Recently, IDM and Ascot Resources Ltd. entered into a definitive arrangement agreement whereby Ascot will acquire all outstanding common shares of IDM. If completed, this transaction would result in the consolidation of Ascot's Premier Gold project and IDM's Red Mountain project to create the leading high-grade gold development and exploration company in BC's Golden Triangle. For more information on the transaction, please view IDM's press release dated January 7, 2019 at www.idmmining.com.