Publicly traded Idaho Strategic Resources, Inc. (opens in a new tab) (NYSE American: IDR) (“IDR” or the “Company”) issued a press release (opens in a new tab) discussing its extensive Idaho-based rare earth elements (REE) landholdings, including its plans for the 2025 REE exploration field season focusing on the Company’s Lemhi Pass project. (opens in a new tab)
The Lemhi Pass project
November 15th, 2023 IDR announced impressive results from analysis of sampling at two prospects within its Lemhi Pass project (Idaho Strategic’s Lemhi Trenching Returns Up to 5% Total Rare Earths – Including Magnet REE Concentrations in Excess of 70% (opens in a new tab)). And as previously stated, the distribution of rare earth elements analyzed was 58% Nd, 8% Pr, 8% Sm, and 2% Dy, with these four elements combined to account for up to 76% of the total rare earth elements percentage.
Idaho Strategic’s geologists, among others, speculate the favorable mix of REEs may be due to the substitution of lanthanum (a common lower value REE) for a greater concentration of neodymium as illustrated in many Lemhi Pass samples analyzed to date.
Importantly, while much more work is required (and planned) the Company’s initial findings support the potential for favorable project economics moving forward. Of course, risk is an operative word here and we encourage prospective investors to review the company’s forward looking statements.
As part of its ongoing analysis, and ahead of the 2025 work season, the company contracted Alpha Geologic (opens in a new tab) for further study of samples from its Mineral Hill, Diamond Creek, and Lemhi Pass projects.
The company presents in the two charts below a depiction of the percentages of valuable rare earth oxides in samples obtained from the Company’s Sparky and In-Trust (IT) prospects at Lemhi Pass. Along with additional samples obtained from Diamond Creek (DC) and Mineral Hill (MH) to provide early-stage comparisons to the reported percentage of valuable rare earth elements in other globally significant projects, including the producing Mountain Pass (California), Mt. Weld (Australia), and Bayan Obo (China) REE mines.
In 2025 the Company has plans for a considerably larger trenching and low-impact air rotary drilling program at Lemhi Pass in comparison to past efforts. Spanning over 12,000 acres, the Company’s Lemhi Pass project is expansive and exploring it thoroughly will take time. Using a combination of trenching and air rotary drilling is the best and lowest cost method for quick, larger scale exploration to aid in the eventual planning for a core drilling program and future resource definition.
Idaho Strategic’s President and CEO, John Swallow (opens in a new tab) commented, “We are understandably pleased with the results coming out of our Lemhi Pass project, especially in comparison to other well-known deposits across the globe, and just as domestic sourcing of REEs and mining in Idaho is receiving increased attention. It is also important to note that in concert with planned and ongoing REE exploration, we are also working with multiple national laboratories and independent companies to advance our understanding of the minerology of Idaho’s REE projects, and to investigate various separation and processing technologies. Given the specific nature of processing and separating REEs, we felt it necessary to supply REE samples from our projects for the development of innovative processing and separation technologies, which could inevitably result in those solutions/technologies being tailored to the minerology of our projects.”
IDR’s Vice President of Exploration, Robert John Morgan, PG, PLS is a qualified person as such term is defined under S-K 1300 and has reviewed and approved the technical information and data included in this press release.
About Idaho Strategic Resources, Inc.
Idaho Strategic Resources (IDR) is an Idaho-based gold producer which also owns the largest, rare earth elements land package in the United States. The Company’s business plan was established in anticipation of today’s volatile geopolitical and macroeconomic environment. IDR finds itself in a unique position as the only publicly traded company with growing gold production and significant blue-sky potential for rare earth elements exploration and development in one Company.
IDR was founded on July 18, 1996, by Grant Brackebusch (opens in a new tab). The company is headquartered in Coeur d’Alene, Idaho.
IDR is Idaho’s largest primary gold producer. They explore and develop gold, silver, and base metal deposits. Some of their mineral properties include the Golden Chest Mine, Murray Gold Belt, Butte Highlands, and Central Idaho
Dustin
Driven by a fascination with rare earth elements and their role in powering modern tech and engineering marvels. A true car and tech enthusiast, he loves exploring how these hidden heroes fuel our most exciting innovations.
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