Idaho Strategic Receives Grant Funding for Power Infrastructure Upgrades at Golden Chest Mine

COEUR D'ALENE, ID / ACCESSWIRE / August 8, 2024 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR") has announced the awarding of a $430,000 grant from Idaho's Rural Community Investment Fund (RCIF). This funding will support power infrastructure upgrades in Murray, Idaho, including IDR's Golden Chest Mine.

The upgrades aim to supply sufficient power for a new paste backfill system and expanded mine development. Communities such as Murray, Prichard, and rural residents between Wallace and Murray will also benefit. Construction preparations are complete, with activities projected to begin this summer and continue through fall.

IDR's President and CEO, John Swallow, praised the support from the State of Idaho and Shoshone County, highlighting the positive impact on local economies and jobs. The RCIF grant includes a job creation and retention agreement, mandating at least six new jobs and retaining ten existing ones by April 2027.