Idaho Strategic Resources Continues to Drill Gold-Quartz Veins at Klondike and Paymaster
Idaho Strategic Resources, Inc. (NJMCD) released promising exploration results from its 2021 drilling program at the Golden Chest mine in Idaho, highlighting gold mineralization in the Klondike and Paymaster areas. Notable results include 18.9 g/t gold over 1.7 meters and 3.1 g/t gold over 2.2 meters. The company's ongoing drilling aims to expand these resources, with additional assays pending. Vice President of Exploration Rob Morgan emphasized the effective drilling strategy in identifying new gold targets, reinforcing the company's operational potential in the region.
- Discovery of high-grade gold veins, including 18.9 g/t gold over 1.7 meters.
- Expansion of mineralization in Klondike and Paymaster areas potentially increases resource base.
- Ongoing drilling program shows promise for additional gold resources.
- None.
COEUR D'ALENE, ID / ACCESSWIRE / December 13, 2021 / Idaho Strategic Resources, Inc. (OTCQB:NJMCD) ("NJMCD", "Idaho Strategic" or the "Company") is pleased to provide the most recent exploration results from the Company's 2021 drill program at the Golden Chest mine. These new results come from drill hole GC 21-207 in the Klondike area, and from drill hole GC 21-189 completed in the Paymaster area (Figure 1). The Klondike and Paymaster are located to the north and south, respectively, of current underground operations in the Skookum.
Our company-owned core drill began drilling in the Klondike area this past summer with the intent to drill-test the deeper extensions below the historic underground workings of the Klondike shoot. Prior to the Klondike drill program, the mineralized areas were assumed to be deeper and associated with the Idaho Fault, as found in the Skookum. However, numerous high-grade gold bearing veins were discovered considerably higher than expected in the hangingwall of the Idaho Fault. The successful discovery of these new areas of mineralization led to an adjustment in drill plans to focus on defining this new gold resource zone and modeling of new blocks of potentially mineable gold mineralization.
Below, the latest intercept highlights from GC 21-207 are reported in grams of gold per tonne (g/t) and in drilled thickness (as vein orientations have yet to be determined).
Klondike Drill Results
- 18.9 g/t gold over 1.7 meters from 221.0 m within a broader interval from 218.1 m that assays 7.9 g/t over 4.6 meters. (GC 21-207)
- 11.8 g/t gold over 1.9 meters from 160.1 m (GC 21-207)
- 5.2 g/t gold over 0.5 meters from 120.8 m (GC 21-207)
GC 21-207, the most southerly hole in the new Klondike mineralization, extends gold mineralization 29 m up dip to the east from GC 21-204; and extends gold mineralization another 28 m along strike from GC 13-161. For context, GC 21-204 intercepted 9.4 g/t gold over 3.3 m in the upper vein and 9.4 g/t gold over 1.1 meters in the lower vein. This builds upon GC 13-161 which intercepted 0.5 m of 20.4 g/t gold.
Idaho Strategic continues to drill on the Klondike with an amended step-out drilling program in order to follow this new gold mineralization. The two most recent Klondike drillholes, GC 21-208 and GC 21-209, have assay results still pending, however preliminary geological evaluations show considerable promise to extend the mineralization boundary even further.
Drill results are also in for drill hole GC 21-189 from the Paymaster area, with highlights below. The Paymaster drill program was designed to test and expand the down dip extents of the Paymaster ore shoot. Reported intervals are the true thickness of the vein.
Paymaster Drill Results
• 3.1 g/t gold over 2.2 meters from 237.0 m (GC 21-189)
Drill hole GC 21-189 is approximately 39 m down dip from the previously reported intercepts in GC 21-184 where 20.1 g/t gold was intercepted in the upper vein and 3.8 g/t gold intercepted in the lower vein. This latest drill hole information continues to add ore blocks to our resource deposit model and is important in the evaluation of a potential development ramp plan from existing Skookum underground mine workings to the Paymaster area.
Idaho Strategics' Vice President of Exploration, Rob Morgan commented, "Our success-based drilling philosophy has shown its utility by highlighting exploration targets both north and south of existing mine infrastructure. Our plan of keeping one foot in the gold mineralization while stepping out and testing with the other foot has been a successful strategy in continuing to add ore blocks both north and south of existing underground mine infrastructure."
Qualified person and QA/QC
Idaho Strategics' Vice President of Exploration, Robert John Morgan, PG, PLS is a qualified person as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.
Core samples are delivered by the driller to a secure facility prior to logging by Company geologists. Core is then logged and samples for assay are obtained by sawing the core in half longitudinally while trying to ensure a representative sample is submitted to the laboratory for analysis. All the samples were analyzed by American Analytical of Osburn, Idaho, an ISO certified laboratory. Samples were analyzed using lead collection fire assay with a gravimetric finish. A series of known assay standards are submitted with each drill hole as part of the quality assurance-quality compliance program. Assay results are utilized in decision making related to exploration, resource modeling, stope and mine development and other tasks related to mine production and milling.
About Idaho Strategic Resources, Inc.
Domiciled in Idaho and headquartered in the Panhandle of northern Idaho, Idaho Strategic Resources (IDR) is one of the few resource-based companies (public or private) possessing the combination of officially recognized U.S. domestic rare earth element properties (in Idaho) and Idaho-based gold production located in an established mining community.
Idaho Strategic Resources produces gold at the Golden Chest Mine located in the Murray Gold Belt (MGB) area of the world-class Coeur d'Alene Mining District, north of the prolific Silver Valley. With over 5,000 acres of patented and un-patented land, the Company has the largest private land position in the area following its consolidation of the Murray Gold Belt for the first time in over 100-years.
In addition to gold and gold production, the Company maintains an important strategic presence in the U.S. Critical Minerals sector, specifically focused on the more "at-risk" Rare Earth Elements (REE's). The Company's Diamond Creek and Roberts REE properties are included the U.S. national REE inventory as listed in USGS, IGS and DOE publications. Both projects are located in central Idaho and participating in the USGS Earth MRI program.
With an impressive mix of experience and dedication, the folks at IDR maintain a long-standing "We Live Here" approach to corporate culture, land management, and historic preservation. Furthermore, it is our belief that successful operations begin with the heightened responsibility that only local oversight and a community mindset can provide. Its "everyone goes home at night" policy would not be possible without the multi-generational base of local exploration, drilling, mining, milling, and business professionals that reside in and near the communities of the Silver Valley and North Idaho.
For more information on Idaho Strategic Resources go to www.newjerseymining.com or call:
Monique Hayes, Corporate Secretary/Investor Relations
Email: monique@newjerseymining.com
(208) 625-9001
Forward Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Such statements are based on good faith assumptions that Idaho Strategic Resources believes are reasonable, but which are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such factors include, among others: the impact of supply chain risks and expanding needs of operations as inventory increases; an increased risk associated with production activities occurring without completion of a feasibility study of mineral reserves demonstrating economic and technical viability; environmental hazards, industrial accidents, weather or geologically related conditions; changes in the market prices of gold and silver and the potential impact on revenues from changes in the market price of gold and cash costs; a sustained lower price environment; risks relating to widespread epidemics or pandemic outbreaks including the COVID-19 pandemic; the potential impact of COVID-19 on our workforce, suppliers and other essential resources, including our ability to access goods and supplies, the ability to transport our products and maintain employee productivity; the risks in connection with the operations, cash flow and results of the Company relating to the unknown duration and impact of the COVID-19 pandemic; as well as other uncertainties and risk factors. Actual results,developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Idaho Strategic Resources disclaims any intent or obligation to update publicly such forward-looking statements, whether a result of new information, future events or otherwise.
SOURCE: Idaho Strategic Resources, Inc.
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