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Idaho Strategic Receives Grant Funding to Support Power Infrastructure Upgrades to the Golden Chest Mine
COEUR D'ALENE, ID / ACCESSWIRE / August 8, 2024 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR", "Idaho Strategic" or the "Company") is pleased to announce that its joint application with Shoshone County and the support of Avista …
COEUR D'ALENE, ID / ACCESSWIRE / August 8, 2024 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR", "Idaho Strategic" or the "Company") is pleased to announce that its joint application with Shoshone County and the support of Avista Utilities to Idaho's Rural Community Investment Fund (RCIF) was awarded the maximum $430,000 allowable toward upgrades to public power infrastructure for the benefit of the unincorporated town of Murray, Idaho and Idaho Strategic's Golden Chest Mine, among others.
The power infrastructure upgrade is expected to provide enough power to the Golden Chest Mine to service the planned addition of a paste backfill system and increased mine development efforts. Additionally, the power infrastructure upgrades are expected to benefit the surrounding communities of Murray and Prichard, as well as the rural residents who live along the nearly 23 line-miles of planned upgrades between Wallace and Murray. Site preparations for construction of the paste backfill plant are complete, and construction activities are expected to begin later this summer and continue through the fall. The paste backfill plant and power upgrade are two key steps along the way to potentially building out a new mill in the Murray Gold Belt to facilitate future exploration and expansion activities on a district scale.
Idaho Strategic's President and CEO, John Swallow stated, "It is nice to receive this level of support from the State of Idaho and Shoshone County. This is not only a testament to Idaho's reputation as a mining and business friendly jurisdiction, but also IDR's track record of production and goodwill built over the past decade. Our guys are proud of where we live and work and we are happy to help the local economies of Murray, Prichard, and the broader Shoshone County in a meaningful way. This is one of the rare examples where I truly believe it is a win for all of the stakeholders involved. I would also like to thank Avista Utilities for their continued support of our community. Our strong working-relationship with the Avista folks was a major benefit throughout the grant application and approval process, and we look forward to continuing to work together."
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