Canada’s IDM Mining Ltd. (TSX-V:IDM) (OTCQB:IDMMF), one of the several companies developing projects in British Columbia’s prolific Golden Triangle, said Monday it expected to receive the necessary environmental permits for its proposed Red Mountain mine in the third quarter of the year.
The Vancouver-based junior, which is working on a resource update for its gold-silver project, located just 15 km east of Stewart, B.C., said it would release the new estimate by mid-June.
It also noted it would complete an updated feasibility study in the second half of this year. That report, IDM said, will incorporate up to date estimates, an optimized mine plan, as well as capital and operating efficiencies.
Out of about a dozen potential mine projects identified in the Golden Triangle, only two have been built to date — Imperial Metals’ (TSX:III) Red Chris copper mine and Pretium Resources’ (TSX:PVG) Brucejack gold mine.
Red Mountain is likely to be the next in line, as both the province and the federal government are expected to issue their environmental decisions by September this year. Around the same time, the miner also anticipates having finalized a benefits agreement with Nisga’a Nation.
For the rest of this article: http://www.mining.com/idm-mining-expects-environmental-permits-red-mountain-september/