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IDM Mining Completes the Acquisition of Red Mountain Claims from Seabridge Gold
May. 26, 2017 08:21AM PST
Precious MetalsIDM Mining Ltd. (TSX VENTURE:IDM)(OTCQB:IDMMF) (“IDM” or the “Company”) is pleased to announce that it has completed the acquisition of the minerals claims and certain other related assets comprising the Red Mountain Project (“Red Mountain” or the “Project”) from Seabridge Gold Inc. (“Seabridge”). IDM acquired the 100% interest, subject to certain underlying agreements and royalties, …
IDM Mining Ltd. (TSX VENTURE:IDM)(OTCQB:IDMMF) (“IDM” or the “Company”) is pleased to announce that it has completed the acquisition of the minerals claims and certain other related assets comprising the Red Mountain Project (“Red Mountain” or the “Project”) from Seabridge Gold Inc. (“Seabridge”). IDM acquired the 100% interest, subject to certain underlying agreements and royalties, pursuant to the Option Agreement entered into in April 2014. The Red Mountain Project covers an area of 17,125 hectares and is located 15km northeast of the town of Stewart, BC.
As quoted in the press release:
“Completing the acquisition of title for a 100% interest in the Red Mountain Project is another significant step for IDM Mining,” said Rob McLeod, President and CEO of IDM Mining. “We are grateful to have worked with Seabridge as the property vendor, and are excited for further milestones as we advance the Project towards a production decision for a high-grade gold, bulk mining underground operation.”
