American CuMo Mining Corporation acquired the claims in 2004 and has performed approved exploratory drilling on public and private lands since that time.
Geologic sampling has inferred the existence of more than 6 billion tons of molybdenum oxide (moly), copper, silver and tungsten worth nearly $100 billion at current market rates. In 2011, the U.S. Forest Service approved a comprehensive Environmental Assessment (EA), paving the way for Idaho CuMo Mining Corporation complete a thorough exploration to lead towards a Pre-feasibility Study.
In February, 2011, the U.S. Forest Service approved a comprehensive Environmental Assessment of the area proposed for exploration. Subsequently, the U.S. Forest Service issued the FONSI and Notice of Decision in late 2011, rendering the current status of the exploration. Under the 2011 permit, CuMoCo was allowed to drill 137 holes and construct 10.2 miles of road. In 2012, CuMoCo completed drilling of the 68th hole and built 1.5 miles of temporary roads while complying with Forest Best Practices and adhering to the perimeters set forth by the U.S. Forest Service.
On August 29, 2012, the U.S. District Court of the District of Idaho issued its Memorandum Decision and Order, stating the U.S. Forest Service’s previously approved decisions regarding groundwater made in the Environmental Assessment be vacated and the matter remanded to the Forest Service.
As a result, the U.S. Forest Service completed further analysis concerning groundwater hydrology, issued a Supplemental Environmental Assessment (SEA) in 2011 and updated the SEA in 2013. The Forest Service re-affirmed its original 2011 decision on April 9, 2015, at the completion of the SEA.
In October 2015, the U.S. Forest Service issued the final Supplemental Decision Notice (DN) and Finding of No Significant Impact (FONSI) regarding the Project which allows Idaho CuMo Mining Corporation to proceed with late-stage exploration and development work of the CuMo Project. The Supplemental Environmental Assessment (SEA) informing this decision includes analysis to address the 2012 Memorandum Decision and Order from the U.S. District Court for the District of Idaho concerning groundwater analysis.
Current CuMo Project Exploration
CuMoCo is currently undertaking a diamond drill program of up to 30 holes with lengths up-to-2000 feet. The new holes are designed to expand the identified resource and convert its inferred mineral resources to indicated and measured.
Environmental baseline studies are continuing and bankable metallurgical test work will commence during 2016. Studies indicate that the Sacagawea Bitterroot thrives in disturbed soils, old drill roads and exploration drill pads.
Finally, based on the results of the Preliminary Economic Assessment (PEA), engineering site selection and design will commence.
Conceptual pit designs have been completed and are being used to ensure the optimum location for the exploration drilling.
The development plan for the CuMo Project includes completion of detailed metallurgical work to advance the project towards pre-feasibility.