IDM-T spiked up on no news. Trading $0.50 up 7 cents vol. 110,705 shares.
Jr next door Silver Grail Resources (SVG-V)
Aug 13, '14 - NR
Silver Grail Resources Ltd. and Teuton Resources Corp. have begun 2014 reconnaissance sampling on their Gold Mountain and Ram properties, adjoining to the south of the Red Mountain gold property of IDM Mining, about 20 kilometres east of Stewart, B.C., in the southern half of the Golden Triangle.
The companies plan to carry out prospecting particularly around zones of ablation (glacial meltback). The last time the claims were prospected was in the 1990s. Much new ground is expected to have opened up in the interim.
On the Gold Mountain property previous work disclosed a 650- by 1,000-foot zone of pervasive quartz calcite veinlets, carrying gold values ranging from a few parts per billion up to 0.632 ounce per ton. On the Ram property, prospecting has led to the discovery of several mineralized occurrences. These include hydrozincite-stained limetstone/dolomite horizons, argentiferous quartz veins, shears with minor sulphides, and a pyritic and chert horizon containing sporadic galena and sphalerite/hydrozincite. The geological setting on the Ram is prospective for BA-type mineralization, of the kind exposed on the BA property of Great Bear/Mountain Boy minerals to the north (where $5-million of exploration has disclosed an extensive silver- and base-metal-bearing exhalative horizon).
Prospecting is also planned for the nearby jointly owned Konkin Silver and Fiji claims. On the Konkin Silver property several silver-bearing structures have been discovered in an exhalative horizon. One of these, the main Konkin Silver showing, returned trench results ranging from 14.8 feet grading 2.53 ounces per silver per ton to 29.5 feet grading 34.94 ounces per silver per ton. Native silver was observed in certain of the trench samples. There are some affinities with the formerly producing Torbrit silver mine located to the southwest.
On the Fiji, located to the northwest of the Homestake property now being explored by Agnico Eagle, previous work in 2006 led to the discovery of two mineralized zones. Five out of 16 samples from the zones returned gold values ranging from 0.327 to 1.27 ounces per ton gold. One of the zones features fracture-controlled pyrite mineralization in what appears to be a highly altered intrusive. The second zone, in an area exposed by meltback of a snowfield, features sphalerite, galena, tetrahedrite, pyrite and barite mineralization hosted in altered volcanic rocks.
Work in the area has been spurred by IDM Mining's recent purchase of the nearby Red Mountain gold property from Seabridge Gold. IDM is aiming at placing Red Mountain into production possibly as early as 2016, which will materially enhance infrastructure in the region.
The qualified person for the purposes of this news release is D. Cremonese, PEng. Mr. Cremonese, PEng, is not independent of the company. |
