New Milestone for Demesne Resources Ltd.
Demesne Resources Ltd. (CSE:DEME) (OTCQB:DEMRF) is making significant strides in the exploration of the IMA Mine Project, located in Idaho. The company has completed an initial assessment of the underground workings at the historical IMA Mine, revealing that the tungsten vein systems are now readily accessible in the mine's upper levels.
Underground Access Achieved
In a recent update, Demesne's contract staff successfully entered the upper level of the IMA Mine, opening a vital passageway into the tungsten vein system. Murray Nye, the CEO of Demesne, expressed enthusiasm over this achievement, stating, "Direct access to the vein system underground is a significant benefit to the project and really puts us ahead on the development timeline." This access allows for the verification of previous underground sampling conducted by past operators and the collection of bulk samples for gravity separation testing.
Historical Context of the IMA Mine
The IMA Mine is a historically significant underground tungsten producer, with operations scaling back in the 1950s. Between 1945 and 1957, the mine was able to produce approximately 199,449 MTUs of WO3 before halting for further exploration of molybdenum and tungsten by various companies until as recently as 2008. Previous exploration efforts, particularly from 1978 to 1982 by Inspiration Development Corporation, focused on the rehabilitation of the mine for resource delineation, with plans for a direct shipping operation that never came to fruition due to declining tungsten prices.
Condition of Underground Workings
Recent investigations by Demesne have revealed that the access drift is in excellent condition. The underground area exhibits minimal ground support needs, good natural ventilation, and no significant water inflows, making it a viable environment for further exploration. The principal veins, No. 5 and No. 7, have shown promising widths ranging from 3 to over 10 feet and extend over 400 feet in length on the D level, consisting of quartz and various associated minerals like pyrite and scheelite.
Future Plans for IMA Mine Project
With this new access, Demesne Resources plans to take several important steps to advance the IMA Mine Project. The company intends to digitize and verify historical exploration data and records to support the development of a NI 43-101 compliant mineral resource. Additionally, project planning will focus on trade-off studies and metallurgical testing activities using samples collected from the newly accessed vein systems.
Demesne Resources' Broader Exploration Goals
Beyond the IMA Mine Project, Demesne Resources continues to engage in the exploration of other mineral properties, including its Star Project in British Columbia. The Star Project covers an area of approximately 4,615.75 hectares and signifies the company's commitment to expanding its exploration efforts in magnetite resources.
Conclusion
Demesne Resources Ltd. continues to demonstrate its capabilities and commitment to critical mineral exploration with the recent success at the IMA Mine Project. As the company moves forward with verification and sample collection, stakeholders can remain optimistic about the potential developments in the tungsten sector driven by Demesne’s efforts.
Frequently Asked Questions
What is the significance of the recent underground access?
The recent access to the tungsten vein system at the IMA Mine is crucial for confirming historical sampling and conducting new tests, advancing the project significantly.
What minerals are being focused on at the IMA Mine?
The primary focus at the IMA Mine is tungsten, specifically the WO3 mineral, along with other minerals like pyrite and scheelite found in vein systems.
What plans does Demesne have for future exploration?
Demesne intends to digitize historical information, plan for sample collections, and conduct metallurgical studies as part of its exploration strategy.
What are the historical production figures for the IMA Mine?
The mine produced approximately 199,449 MTUs of WO3 between 1945 and 1957 before exploration activities were halted.
How does this impact Demesne's operations overall?
This milestone enhances Demesne's credibility and potential for successful mineral extraction, reflecting positively on its overall operations and future projects.
