Surf, board, Any opinions on Idaho Strategic Resources (IDR)? Thanks.
>>> Idaho StrategicAcquires the Toboggan Project from Hecla Silver Valley, Inc. - Uniting the Two Major Components of the Murray Gold Belt District for the First Time
COEUR D'ALENE, ID / ACCESS Newswire / July 31, 2025 / Idaho Strategic Resources (NYSE American:IDR) ("IDR", the "Company" or "Idaho Strategic") is pleased to announce that it has acquired the Toboggan project from Hecla Silver Valley, Inc., ("Hecla") a wholly owned subsidiary of Hecla Mining Company.
The Toboggan project is located in the Murray Gold Belt in northern Idaho, approximately three miles north of IDR's Golden Chest Mine. The land package comprises 143.5 acres of patented mining claims known as the Little Baldy prospect, and numerous adjacent unpatented mineral claims containing other prospects such as Gold Butte, Mineral Ridge, Golden Reward, Progress, Lost Eagle, and Independence.
Past exploration focused on gold, silver, and tellurium by companies such as Newmont, Hecla, and New Jersey Mining (now IDR). For example, prior soil sampling by Newmont at the prospect known as Mineral Ridge identified an anomaly 2,000 meters in length by 650 meters in width that was not drill tested by Newmont due to expiration of the joint venture contract and stalled permitting in 2009. Another soil anomaly at the Golden Reward prospect is 2,000 meters long and 900 meters wide and was marginally drill-tested by Newmont from only a single location, also due to permitting constraints. The Company believes this large area remains target rich with various prospects left unevaluated or under-evaluated. Besides the gold, silver, and tellurium anomalies, other elements known to occur on the Toboggan Project include molybdenum, tungsten, bismuth, beryllium, antimony, scandium, and vanadium.
Rob Morgan, Idaho Strategic's VP Exploration commented, "I am very familiar with the Toboggan project, first with Newmont and now with IDR. Finding and developing orogenic high-grade narrow gold veins is IDR's specialty and with more resources at our disposal than at any other time in our Company's history, I am excited to unite the two major portions of the Murray Gold Belt in one company for the first time ever. Our team will be evaluating any new data and formulating further exploration targets within the Toboggan project. The land package and geology are familiar to us, with similar host rocks and faulting. Given our operating mine and on-site geology staff championing the project, IDR is best suited to adequately and thoroughly evaluate the potential of this impressive land package."
Idaho Strategic's President and CEO, John Swallow added, "The Toboggan project was one of the reasons I was originally drawn to the company over a decade ago, so it is good to once again have this horse back in the stable. Additionally, our first introduction to Rob Morgan, who is now IDR's VP Exploration, came during his time on the ground at the Toboggan while advancing the project for Newmont.
We have always thought the Toboggan project held many quality prospects and we are a much different company today than in the early 2000s. Regardless of whether a company is large or small, projects need an internal champion to get advanced. And as an earlier stage project, the Toboggan has a track record of attracting the attention of well-established mining companies and for whatever reason (gold prices, mgt. changes, etc.) it was advanced only briefly by each. We are excited to add the Toboggan back into our holdings and believe the timing is right for IDR to take on this project."
The terms of the acquisition include $300,000 paid in cash to Hecla, as well as a 1% net smelter royalty retained by it on portions of the project not previously owned by IDR.
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.
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