Demesne Resources Ltd. Confirms Underground Access to Tungsten Vein System, IMA Mine Project in Idaho, USA
Demesne Resources Ltd. Confirms Underground Access to
Tungsten Vein System, IMA Mine Project in Idaho, USA
- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S.
NEWSWIRE SERVICES –
● Demesne completes initial assessment of the condition of underground workings in the
IMA Mine
● Tungsten vein systems readily accessible in upper levels of the historical mine
Vancouver, BC, December 17, 2024 – Demesne Resources Ltd. (CSE:DEME)
(OTCQB:DEMRF) (FSE:RK9) (“Demesne” or the “ Company”) is pleased to announce that
contract staff have successfully accessed the IMA tungsten vein system through the upper level of
the historical IMA Mine.
Figure 1: Exposure of No5 vein in D Level drift
“Direct access the vein system underground is a significant benefi t to the project and really puts
us ahead on the development timeline.” said Murray Nye, CEO of Demesne “This will allow
Demesne to confirm prior unde rground sampling and development work completed by past
operators and collect bulk samples for gravity separation test work.”
Figure 2: Drift along No7 vein showing general condition of the D level
Figure 3: Crosscut on the D level depicting general ground conditions.
Figure 4: Geologist examining vein exposure in D level access drift
The IMA Mine is a past produc ing underground tungsten mine s ituated on 22 patented claims
located in East Central Idaho. Between 1945 and 1957, the property pr oduced approximately
199,449 MTUs of WO3 and was subsequently explored for molybdenum and tungsten by various
operators between 1960-20081.
Between 1978 and 1982, Inspiration Developm ent Corporation focused exploration on
development of the quar tz-tungsten-vein system, rehabilita ting upper levels of the mine to
complete underground resource delineation drilling, and conducting metallurgical work.
Inspiration planned a 300 tpd underground operation using inclined slot methods targeting the vein
systems in the upper levels of the IMA Mine. Inspir ation planned to direct ship ore to a mill in
Phillipsburg, MT for processing. Development work ceased in 1982 prior to recommencement of
mining associated with a decrease in tungsten prices2.
On December 10 th, Demesne staff entered the undergroun d mine on the upper D level, in an
approximately 7x7 ft access drift which had been re habilitated in the 1980s 3. Ground conditions
1 Bradley Mining Company, 1958; Summarized Information on IMA Mine, Lemhi Co, Patterson, Idaho. Company Report, 6p.
2 Inspiration Development Company, 1980 Annual Report. Company Report.
3 Victoria Mitchell, 1999; History of the Ima Mine, Lemhi County, Idaho, Idaho Geological Survey, Staff Report 99-2, University of Idaho,
August 1999.
were excellent with minimal ground support observed. There was good natural ventilation and no
underground water inflows were seen. The princi pal veins (No 5 and 7 veins) are well exposed
and vary in width from 3 ft to over 10 feet wide with strike length of at least 400’ on the D level.
The veins consist of quartz w ith variable assemblages incl uding pyrite, fluorite, hubnerite,
scheelite, tetrahedrite, galena, s phalerite and chalcopyrite. Limited areas of the vein system had
been partially stoped both above and below the level, but veins are un-mined over hundreds of feet
along strike as observed within the drifts.
The Company plans to continue work to digitize and verify historical information and records in
support of developing a 43-101 co mpliant Mineral Resource for the IMA Mine, in conjunction
with initiating project planning and trade off studies, and planning for sample collection activities
for verification and metallurgical studies.
ABOUT DEMESNE RESOURCES LTD.
Demesne Resources Ltd. is a British Columbia based company involved in the acquisition and
exploration of magnetite mineral properties. The Company's Star Project consists of five
contiguous mineral titles covering an area of approximately 4,615.75 hect ares located in the
Skeena Mining Division, British Columbia, Canada . The Company has entered into an option
agreement pursuant to which it is entitled to earn an undivided 100% interest in the Star Project.
Demesne has also entered into an option agreem ent, pursuant to which it can acquire a 100%
interest (subject to a 2% roya lty) in and to the IMA Mine Proj ect, a past producing underground
tungsten mine situated on 22 patented claims located in East Central, Idaho, United States.
Social media links:
LinkedIn: https://www.linkedin.com/company/demesneresources/
X: https://x.com/demesneresource
Facebook: https://www.facebook.com/DemesneResources
Instagram: https://www.instagram.com/demesneresources/
YouTube: https://www.youtube.com/@demesneresources
ON BEHALF OF THE BOARD OF DIRECTORS:
Murray Nye
CEO
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Murray Nye, CEO
Email: [email protected]
Phone: +1 (416) 300-7398
CSE:DEME
OTCQB:DEMRF
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of
this release and has neither approved nor disapproved the contents of this press release.
This news release includes certain statem ents that may be deemed “forward-looking
statements”. All statements in this news release, other than statements of historical facts, that
address events or developments that the Com pany expects to occur, are forward-looking
statements. Forward-looking stat ements are statements that ar e not historical facts and are
generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”,
“intends”, “estimates”, “projects”, “potential” an d similar expressions, or that events or
conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes
the expectations expressed in such forward- looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in the forward-look ing statements. Forward looking statements in
this news release include statements respectin g: (i) the IMA Mine Project and the mineral
prospects thereon, (ii) the Company's perfor mance of its obligations under the Option
Agreement, and the exercise of the option thereunder, and (iii) the Company's planned activities
on the IMA Mine Project. Factors that could cause the actual results to differ materially from
those in forward-looking statements include the receipt of regulatory approvals, market prices,
continued availability of capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments ma y differ materially from those projected in
the forward-looking statements. Forward-looking statements are based on the beliefs, estimates
and opinions of the Company’s management on the date the statements are made. Except as
required by applicable securiti es laws, the Company undertakes no obligation to update these
forward-looking statements in the event that management's beli efs, estimates or opinions, or
other factors, should change.
Statements concerning historical exploration activities, mineral resources and production on
the property have been obtained through both public and private sources, and are believed to be
substantially factual and relevant in that they demonstrate the te nor of exploration targets on
the property. These historical resource estimates pre-date the implementation of NI 43-101 and
do not use categories stipulated by CIM. Prior operators assigned confidence categories which
differ from those stipulated by CIM, as they may not have demonstrated economic viability. The
estimates should not be relied upon until they have been verified. Neither Demesne Resources,
nor its Qualified Person, has done sufficient work to classify the historical estimates as current
mineral resources or to verify historical information regarding past production or exploration.
Demesne Resources is not treating the historical estimates as current mineral resources or
mineral reserves. This information should not be relied upon until it has been verified.
Technical information in this news release has been prepared in accordance with Canadian
regulatory requirements set out in National In strument 43-101 — Standards of Disclosure for
Mineral Projects (“NI-43-101”). Austin Zinsser, P.G., SME-RM, Vice President, Exploration
for the Company, and a Qualified Person as defined by NI-43-101, has reviewed and approved
the scientific and technical information in this Presentation.