on Idaho Strategic Resources, Inc. (NASDAQ:IDR)
Idaho Strategic Unveils Red Star Vein Discovery at Golden Chest Mine
Idaho Strategic Resources (NYSE American: IDR) recently announced a promising discovery at their Golden Chest Mine. The newly found Red Star Vein, a high-grade gold deposit, was intercepted with notable assays during their 2024 summer drill program. Drill Hole GC 24-258, for instance, revealed 1.8 meters of the vein with an assay of 34.1 grams per tonne (gpt) gold, part of a broader 9.3-meter section averaging 8.2 gpt gold.
The Red Star Vein, along with other high-grade veins, resides in the hanging wall of the Idaho Fault and showed significant intercepts in twelve drill holes, thus highlighting its potential for future production. The vein's discovery has redirected exploration resources, increasing the drill rigs on site, to further explore near-mine opportunities.
IDR's strategic forward planning sees potential in extending the exploration program with enhanced cash flows from continued gold production and favorable market conditions. Plans are underway to initiate additional drilling in the broader Murray Gold Belt District.
R. P.
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