Ascot Resources Ltd. completed its previously announced acquisition of IDM Mining Ltd., creating a high-grade gold and silver development and exploration company in northwestern British Columbia’s Golden Triangle. The transaction consolidates Ascot’s Premier gold project and IDM’s Red Mountain gold project.
“The acquisition of IDM bolsters our goal of creating a company with multiple high-quality, high-grade gold resources based near existing infrastructure,” said Derek White, president and CEO of Ascot. “The combined company has a number of development options and synergy opportunities that aligns with our vision of creating low-cost production, and expanding resource base through future development and exploration in one of the best mining districts in the world.”