IDM Mining Ltd.reported July 19 that an ongoing exploration program at its Red Mountain property in British Columbia has identifieda new zone of gold and silver mineralization in the Lost Valley area of the project.

Goldand silver have also been identified at the Waterfall prospect, located about 700meters to the southwest of Lost Valley.

The company, noting that the new area was formerly covered bythe Cambria ice field, said that surface mapping and sampling completed to datehas returned grades of up to 165 g/t of gold, with an average of 10.5 g/t, whilesilver grades range up to 1,065 g/t with an average of 81 g/t. Assays have been received for66 samples, with mineralization delineated over an area measuring 1,200 meters by1,000 meters.

IDM Miningis focused on identifying initial drill targets at Lost Valley for potential testinglater this year. A phase-one underground drill program is being undertaken at RedMountain, focused on upgrading and expanding resources.