The Canadian Environmental Assessment Agency (CEA) has initiated the final stage of the Red Mountain gold project environmental assessment process, inviting public comment on the draft report and potential conditions that will be applied.
The draft comment period runs until October 18, and a decision from the Environment and Climate Minister is expected in late 2018 or early 2019, Vancouver-based IDM Mining reported on Thursday.
"We are nearing the completion of both the provincial and federal environmental assessment process for the Red Mountain project," said chairperson Michael McPhie.
"With a decision from the provincial government of British Columbia expected imminently and the federal process entering its final stage, the full value of our high-value gold development project in BC's Golden Triangle is near to being realised."
In 2017, IDM submitted an application for an underground gold mine at Red Mountain, mill and tailings site in the adjacent Bitter Creek Valley, water treatment facilities, access road from Highway 37A just north of Stewart and powerline interconnection from BC Hydro grid.
The British Columbia Environmental Assessment Office referred the project to the Minister of Energy, Mines and Petroleum Resources and the Minister of Environment for consideration and approval on August 28. The Ministers have 45 days to make their decision.
The project is also subject to a coordinated review by the CEA under the Canadian Environmental Assessment Act.
IDM is completing an updated feasibility study, which will incorporate value engineering improvements from the 2017 study and the increased measured and indicated resources from the June 2018 resource estimate.
The 2017 study demonstrated a high-margin, low-capital underground gold mine with a short development timeline, producing 91 000 oz/y of gold over the first two years of operation, with a life-of-mine average output of 78 000 oz. The proposed mine will have a 1 000 t/d mill, operating year-round, over an initial period of about six years. The mine will produce 425 000 oz of gold and 1.17-million ounces of silver.