Idaho Strategic announces gold discovery, highlights from Golden Chest drilling

Idaho Strategic Resources is announcing a new high-grade gold discovery and preliminary highlights from the Golden Chest 2024 summer drill program. The Red Star Vein discovery occurred during a drill program targeting hangingwall veins in the Klondike area, located approximately 600 meters north of existing mining in the Skookum area at the Golden Chest mine. The Red Star Vein, like the nearby H-Vein, does not outcrop on the surface with both high-grade veins occurring in the hanging wall of the Idaho Fault. While the tonnage and production potential of the Red Star Vein is not fully defined at this time, the Red Star Vein was first encountered in a surface drill hole GC 22-212, which demonstrated an impressive 1.3 meters of 37.4 grams per tonne (gpt) gold. The Red Star Vein runs roughly sub-parallel to the Red Star Fault, which is a prominent cross-fault in this area. Twelve drillholes have been completed so far, with four holes encountering high-grade gold intercepts of the Red Star Vein with impressive widths and grades. The newly discovered Red Star Vein mineralization is characterized by a sheared and folded, strongly banded quartz vein with visible gold, sphalerite, galena and chalcopyrite. The vein is locally brecciated and re-silicified. In addition to the Red Star intercepts, several other veins have been encountered during the 2024 drill program. Select highlights for sample intervals of these veins, plus the H-Vein and Red Star Vein. Also noteworthy, the Intermediate/H-Vein could potentially be part of the northern extension of the H-Vein based on internal modeling and projections, however further drilling is needed to determine if this is the case.