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Latest Lost Valley sampling results

Published by , Assistant Editor
Global Mining Review,

Vancouver-based exploration and development company IDM Mining Ltd. (IDM) has announced additional surface sampling results from trenching at the Money Rock zone at the Lost Valley target, within the 100%-owned Red Mountain Gold Project (Red Mountain), located in the Golden Triangle of northwestern British Columbia (Canada).

2018 Money Rock Sampling, Lost Valley 

According to IDM, assay results have been received for an additional 51 panel samples, collected on one-metre intervals from the Money Rock structure at Lost Valley. These samples average 9.81 g/t Au and 101.40 g/t Ag over 51 m of strike, including 2 m averaging 13.41 g/t Au and 1531 g/t Ag.  Samples range from trace gold and silver to 49.43 g/t Au and 2617 g/t Ag. This includes the highest silver value received from Lost Valley.  Generally consistent values along strike were returned; 39 of 51 samples assayed over 1.0 g/t Au and 24 of 51 over 5.0 g/t Au.  To date, panel samples collected along 85 m of strike length of the Money Rock structure, average 11.15 g/t Au and 82.56 g/t Ag. Mineralisation is primarily comprised of banded quartz veins, with massive coarse-grained sulfides, primarily pyrite with lesser chalcopyrite, bismuthinite and sphalerite.

The Money Rock structure has been exposed by trenching for over 100 m of strike length.  The panel samples were collected on strike of the structure with the objective of being representative of the entire length and width of the interval. Width of the structure, including veining and faulting, varies from approximately 0.8 - 2.5 m, averaging about 1.5 – 2 m. Numerous additional assays are pending, collected further along and across strike exposed from recent trenching.

The Money Rock structure potentially connects with the Randell Vein. A hand trench sampled in 2016 within sub-cropping of quartz and sulfide averaged 22.4 g/t Au and 81.7 g/t Ag over a series of continuous panel samples totalling 9.25 m in length. Two holes, both vertical, were drilled from surface in 2016 but did not intersect any faulting or veining, suggesting that the target structure was not drilled with correct orientation.  The Randell vein is currently being explored, with assays pending.

In 2016, three drill holes from a single drill pad were completed at the Money Rock zone, where across strike channel sampling averaged 18.7 g/t Au and 61.4 g/t Ag over 0.84 m along 33 m of strike. These samples locally overlap the 2018 sampling.

Drill hole LV16-01 intersected 1 m of 3.0 g/t Au and 23.80 g/t Ag, and LV16-02 intersected 1.2 m averaging 4.63 g/t Au and 90.90 g/t Ag.  All three holes intersected a post-mineralisation dyke where the zone was projected to occur from surface trenching (see 17 November 2016 press release). In future, drilling is to target areas to the west and east of this dyke.

Lost Valley Target

Recently exposed by melting glaciers, the Lost Valley discovery is located approximately 4000 m southwest, of resources at Red Mountain (See 19 June 2018 press release) within the headwaters to the Bitter Creek Valley.

Mineralisation at Lost Valley is hosted within a gold and molybdenum bearing granitic intrusion with multiple generations of quartz-sulfide veining. Recent trenching has exposed over 100 m of strike length of the Money Rock zone, with variable widths of veining and faulting, ranging from one to 2.5 m in thickness. This structure is reportedly associated with ductile deformation, sericite and clay alteration as well as brittle faulting. Within the zone, banded quartz veins and massive sulfide pods host primarily pyrite, with lesser molybdenite, bismuthinite and other base-metal sulfides. The structure is comprised of duplexing brittle-structures, occurring along the base of a cliff. 

Surface exploration work is ongoing at Red Mountain, including targets at Lost Valley.

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