The Murray Gold Belt

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District Overview

Placer and lode gold was discovered in the Murray Gold Belt ("MGB") in 1883 leading to the creation of the world-class Coeur d’Alene Mining District. Idaho Strategic's Golden Chest Mine was the largest gold mine, by production and size, in the district. However, by the early 1890’s, the main mining emphasis had switched to the large silver-lead mines along the South Fork of the Coeur d’Alene River, leaving the MGB largely forgotten. During this time, the Guggenheim family consolidated the majority of the land in the MGB and dredged the creek for placer gold. After many successful years of dredging, the Guggenheim family ceased their gold operations in northern Idaho and the MGB went untouched for over 100 years until a late decendant of the Guggenheim family eventually sold the land to a local timber company. The timber company logged parts of the MGB for approxiamtely 20 years until it was sold off to various local residents. Following the successful development and restart of mining operations at the Golden Chest Mine, Idaho Strategic has spent many years re-consolidating this historic district and has the opportunity to be the first company to systematically explore it under one ownership. Past efforts to explore the district by large mining companies such as Newmont, Cominco, ASARCO, and Hecla were hindered due to their inability to access the portions of the MGB located on private land which are where many of Idaho Strategic's top prospects are located today.

Murray Gold Belt Landholdings

Private Land

Acres

Mineral Claims

Acres

The Golden Chest Mine occupies approximately 220 acres of IDR's 7,300+ acres in the Murray Gold Belt

Murray Gold Belt Exploration

Argus King Mine Buckskin Gold Ridge

Argus

Located immediately west of the town of Murray and just north of Pritchard Creek, IDR's Argus prospect is located on patented lode claims. The Argus prospect was historically placer mined in areas where the ancient gravels were not too deep.

IDR drilled the Argus prospect in 2022. Results include 35.1 grams per tonne (gpt) gold over 0.6 m within 1 m of 8.39 gpt, 24 gpt over 0.34 m within 0.75 m of 11.65 gpt, and 22.2 gpt over 0.2 m within 0.6 m of 9.19 gpt. All assays above come from veins near a monzonite sill/dike, similar to the Paymaster Vein at the Golden Chest Mine.

Drill holes to explore vein(s) down-dip to the north are planned for 2025. The veins at Argus are typically surrounded by wide zones (up to 30 m thick) of 0.5-1 gpt gold material. Drill sites for 2025 are located north of the "Wall of Fire", named for the bright red color seen on the wall rock due to abundant FeOX from weathered igneous rocks.

King Mine

Located north of Pritchard Creek and west of Murray on patented lode claims controlled by IDR, the King Mine is an historic gold mine with underground workings totaling 308 meters (only 30 m accessible) plus an historic stamp mill site.

IDR geologists have located two gold-bearing veins on the property known as the Skookum and Small Hope veins. Historic reports indicated that the two veins strike from N. 75° W. to east and west, and dip from 45° to 55° N.W.

Historic production (Shenon, 1934) stated that around $200,000 of gold was recovered from a small area near the top of the ridge, implying approximately 10,000 ounces of historic gold production given the gold price at the time.

In 2024, IDR collected 77 soil samples in the eastern part of the property on a 50x50 meter grid and located an outcrop of gold-bearing veins along trend from historic the workings.

2025 drill exploration is planned to explore historically identified vein occurrences along the west end of King Mine ridge in the vicinity of high-grade rock samples.

Buckskin

On the west side of Alder Gulch in the Murray Gold Belt, Buckskin is an historic gold mine located on patented land controlled by IDR. Historic mine workings total approximately 477 meters of which 51 meters are accessible for assessment.

2018 trench results returned 76.7 grams per tonne (gpt) over 0.5 m, 6.25 gpt over 1.2 m, 4.83 gpt over 0.5 m, 4.2 gpt over 0.52 m, and 3.63 gpt over 1 m. The 2018 trench results spanned an area of approximately 40 meters.

In 2020, a ground magnetometer survey was conducted over the area of underground workings and to the south. The survey successfully delineated the fault structure as an abrupt change in magnetic intesity.

266 soil samples and 89 rock samples were collected in 2024. The soil samples were collected in a 50m x 50m grid over the Buckskin area and showed two gold-in-soil anomalies.

Plan for 2025 is to drill up-hill from the high grade trench results to explore the vein down dip and along strike from its surface exposure. Additional drill targets are quartzite ridge with abundant quartz veining immediately to the west of the Buckskin area.

Gold Ridge

The Gold Ridge prospect includes numerous historic mines totaling at least 294 meters of workings. Recent IDR sampling of vein material on a dump in Dream Gulch returned 120 grams per tonne (gpt) gold near adits that appear to be exploring for deep targets under Gold Ridge.

IDR trenching in 2023 in the bottom of old placer pits in Missoula Gulch showed visible gold in veins near altered dike rock. The company followed up its trenching efforts with soil sampling on a 50x50 meter grid in 2024.

Drilling planned for 2025 will explore veins at depth indicated at Gold Ridge, a deeper E-W structure that was explored historically underground, and drilling in the bottom of old placer pits in Missoula Gulch targeting poorly exposed veining associated with intrusive rock.

Murray Mill

In 2024, Idaho Strategic began the staged buildout of its new Murray Mill. The Murray Mill is located on-site at the company's operating Golden Chest Mine, which will not only eliminate existing haulage costs, but it will also serve as the processing facility for ore from potential additional mining operations within the company's broader Murray Gold Belt landholdings. Since Idaho Strategic already operates the New Jersey Mill, the company has the flexibility to stage the buildout of the Murray Mill beginning with the construction and operation of a paste backfill system to replace the more costly cemented rockfill method currently being used at the Golden Chest. Idaho Strategic plans to commission the paste backfill system in 2025 and opportunistically purchase and install new milling equipment throughout the coming year(s).

Current Operations

Idaho Strategic's Golden Chest Mine is currently the sole producer in the Murray Gold Belt and was historically the largest gold producer in the District. While the modern footprint of the Golden Chest mine sits on approximately 220 acres, IDR’s total Murray Gold Belt land package consists of 1,500 acres of patented land and 5,800 acres of unpatented land. The Golden Chest Mine is currently the largest gold producer in the state of Idaho. Idaho Strategic is in the process of expanding its operations at the Golden Chest mine to include a new milling facility, which the company plans to build large enough to process ore from potential additional mines within its Murray Gold Belt landholdings in the future.

Golden Chest Mine