Grant monies funding power project toward Murray

WALLACE –– A much-needed infrastructure improvement project is currently underway and could mean big things for the Golden Chest Mine. 

Last month, Idaho Strategic Resources (IDR) and Shoshone County were awarded $430,000 in grant funds to complete a power upgrade project. The grant application was also supported by Avista Utilities and is administered through Idaho’s Rural Community Investment Fund.  

IDR, which owns and operates the Golden Chest Mine near Murray, had been working toward upgrading the power supply to the facility to service a planned paste backfill system at the mine as well as increase the mine’s development efforts.  

Along with the additional power to the Golden Chest Mine, the nearby communities of Murray and Prichard will also benefit from the upgraded power supply.  

Work on the project has already begun and will continue through the fall as crews complete the 23-mile project from Wallace to Murray.  

“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,” IDR President and CEO John Swallow said. “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.”  

A paste backfill plant takes mine waste materials and turns them into a cement-like substance that can be pumped back into areas of the mines that aren’t being worked in or have been completely mined. This substance fills the existing drifts and acts as a ground stabilizer. This use of mine tailings reduces the amount of potentially contaminated and hazardous materials that would otherwise remain on the surface or be moved to a repository.  

The creation of the new plant will create an additional six skilled labor jobs at the facility.  

The Shoshone County Commissioners released a statement expressing their excitement over the project and how pleased they were to see the Golden Chest continue its expansion.  

“Shoshone County is excited to participate in this partnership process with the Golden Chest Mine, the state of Idaho, and Avista for the benefit of everyone living and working in this county, and especially for the residents of Prichard and Murray, and Idaho Strategic Resources. We’re excited to see mining making a comeback and appreciative of the quality jobs it creates and helps sustain for our citizens now and in the future.” 

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. 

“This is one of the rare examples where I truly believe it is a win for all of the stakeholders involved,” Swallow said. “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.” 

For more information on Idaho Strategic Resources, visit https://idahostrategic.com/presentation/, go to www.idahostrategic.com or call Travis Swallow, Investor Relations & Corporate Development, at (208) 625 – 9001.