Vancouver, BC, January 9, 2025 – Demesne Resources Ltd. (CSE:DEME) (OTCQB:DEMRF) (FSE:RK9) (“Demesne” or the “Company”) is pleased to announce it has engaged A-Z Mining Professionals Ltd. (“A-Z Mining”) to prepare a National Instrument 43-101 technical report for the IMA Mine tungsten property. This report is expected to be delivered in the first quarter of 2025.
A-Z Mining is an independent mining consultancy with experience in the design, engineering, and operation of both open-pit and underground mines.
“We are excited to enlist the expertise of A-Z Mining, whose team of mining professionals have extensive experience in mineral resource estimation and mining operations in North America.” said Murray Nye, CEO of Demesne.
The IMA Mine is a past producing underground tungsten mine situated on 22 patented claims located in East Central Idaho. Between 1945 and 1957, the property produced approximately 199,449 MTUs of WO3 and was subsequently explored for molybdenum and tungsten by various operators between 1960-2008.
Between 1978 and 1982, Inspiration Development Corporation focused exploration on development of the quartz-tungsten-vein system, rehabilitating 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. Inspiration 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 10th, Demesne staff entered the underground mine on the upper D level, in an approximately 7×7 ft access drift which had been rehabilitated in the 1980s3. Ground conditions were excellent with minimal ground support observed. There was good natural ventilation and no underground water inflows were seen. The principal 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 with variable assemblages including pyrite, fluorite, hubnerite, scheelite, tetrahedrite, galena, sphalerite 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 compliant 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 hectares 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 agreement, pursuant to which it can acquire a 100% interest (subject to a 2% royalty) in and to the IMA Mine Project, a past producing underground tungsten mine situated on 22 patented claims located in East Central, Idaho, United States.
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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: ir@demesneresources.com
Phone: +1 (416) 300-7398
CSE:DEME
OTCQB:DEMRF
FSE:RK9
