IDR 8-K
Idaho Strategic Resources, Inc. (IDR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
March 11, 2025
Commission file number: 001-41320
| Idaho Strategic Resources, Inc. |
| (Exact Name of Registrant as Specified in its Charter) |
| Idaho |
| 82-0490295 |
| (State or other jurisdiction of incorporation or organization) |
| (I.R.S. Employer Identification No.) |
| 201 N. 3rd Street, Coeur d’Alene, ID |
| 83814 |
| (Address of principal executive offices) |
| (zip code) |
Registrant's telephone number, including area code: (208) 625-9001
N/A
(Former Name or Former Address if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(g) of the Act:
| Title of Each Class |
| Trading Symbol(s) |
| Name of Each Exchange on Which Registered |
| Common Stock, no par value |
| IDR |
| NYSE American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
The Company issued a press release on March 11, 2025, announcing additional high-grade drill highlights from its operating Golden Chest Mine.
A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference. The information in this Current Report on Form 8-K (including the exhibits) is furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely by Regulation FD.
Item 9.01. Financial Statements and Exhibits
d) Exhibits
|
|
*The foregoing exhibit relating to Item 7.01 is intended to be furn1ished to, not filed with, the SEC pursuant to Regulation FD.
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| IDAHO STRATEGIC RESOURCES, INC. | |||
| By: | /s/ John Swallow | ||
|
| John Swallow | ||
| Its: President & CEO | |||
| Date: March 11, 2025 | |||
| 3 |
EXHIBIT 99.1
Idaho Strategic Announces High-Grade Drill Results Including 1.3
Meters of 150.25 Grams per Tonne Gold
Drill Hole GC 24-265 intercepted 1.3 meters (m) of the Red Star Vein that assayed 150.25 grams per tonne (gpt) gold, which was part of a larger intercept of 4.5 m assaying 50.86 gpt gold, reported in drilled thickness.
COEUR D'ALENE, Idaho, March 11, 2024 (ACCESSWIRE) – Idaho Strategic Resources (NYSE American: IDR) (“IDR” or the “Company”) is pleased to announce additional high-grade drill highlights from its operating Golden Chest Mine. The company intersected high-grade gold in six separate veins most of which are relatively near the mine’s current underground infrastructure.
Drill intercepts are reported in grams of gold per tonne and in drilled thickness, as indicated in the table below:
| Hole | Target Vein | From (m) | To (m) | Drilled Thickness (m) | Gold Assay (gpt) |
| GC 24-255 | Bush | 10.4 | 12.1 | 1.7 | 4.45 |
| including |
| 10.8 | 11.1 | 0.3 | 19.00 |
| GC 24-256 | Bush | 15.3 | 16.4 | 1.1 | 11.00 |
| GC 24-257 | Bush | 12.8 | 14.0 | 1.2 | 8.62 |
| including |
| 13.7 | 14.0 | 0.3 | 19.00 |
| GC 24-261 | Red Star | 0.9 | 2.1 | 1.2 | 6.20 |
| including |
| 1.6 | 1.8 | 0.2 | 18.00 |
| GC 24-263 | Red Star | 2.9 | 3.7 | 0.8 | 31.00 |
| GC 24-263 | Red Star | 151.0 | 151.9 | 0.9 | 7.04 |
| GC 24-264 | Red Star | 34.4 | 37.3 | 2.9 | 8.76 |
| including |
| 34.4 | 36.3 | 1.9 | 11.80 |
| GC 24-264 | Red Star | 46.4 | 46.9 | 0.5 | 23.20 |
| GC 24-264 | Red Star | 58.5 | 60.7 | 2.2 | 14.38 |
| including |
| 58.5 | 58.9 | 0.4 | 24.80 |
| including |
| 59.3 | 60.7 | 1.4 | 15.30 |
| GC 24-265 | Red Star | 2.1 | 3.8 | 1.7 | 10.02 |
| including |
| 2.1 | 3.2 | 1.1 | 13.40 |
| GC 24-265 | Red Star | 38.2 | 42.7 | 4.5 | 50.86 |
| including |
| 40.8 | 42.1 | 1.3 | 150.25 |
| including |
| 42.1 | 42.7 | 0.6 | 42.50 |
| GC 24-265 | Red Star | 44.5 | 46.8 | 2.3 | 19.74 |
| including |
| 44.5 | 45.5 | 1.0 | 20.70 |
| including |
| 45.5 | 46.5 | 1.0 | 21.40 |
| GC 24-275 | Paymaster | 208.4 | 211.5 | 3.1 | 4.67 |
| including |
| 209.9 | 210.2 | 0.3 | 24.70 |
| GC 24-285 | Paymaster | 211.1 | 213.8 | 2.7 | 5.58 |
| including |
| 212.5 | 213.8 | 1.3 | 8.00 |
| GC 24-286 | Paymaster | 208.2 | 208.5 | 0.3 | 16.60 |
| GC 24-286 | Paymaster | 222.1 | 223.5 | 1.5 | 6.93 |
| including |
| 222.5 | 222.9 | 0.4 | 13.30 |
| GC 24-287 | Jumbo | 111.6 | 111.8 | 0.2 | 7.00 |
| GC 24-288 | Jumbo | 76.1 | 76.5 | 0.4 | 5.65 |
| GC 24-289 | H-Vein | 113.3 | 113.6 | 0.3 | 9.80 |
| GC 24-290 | H-Vein | 149.6 | 150.4 | 0.7 | 5.01 |
| GC 24-291 | Un-named | 46.1 | 46.3 | 0.2 | 15.20 |
| GC 24-291 | H-Vein | 92.2 | 93.2 | 1.0 | 4.90 |
| including |
| 92.8 | 93.2 | 0.4 | 10.40 |
Idaho Strategic Resources • 201 N. 3rd Street • Coeur d’Alene, Idaho 83814
The true thickness of the Red Star is not known at this time and more drilling or possibly drifting will be required to delineate the geometry of this new area. The H-Vein intercepts are near true thickness. The Bush, Jumbo, and Paymaster intercepts are estimated to be approximately 70% of true thickness.
Idaho Strategic’s President and CEO, John Swallow commented, “The results recorded in the table above are very impressive, especially considering they are from areas of relative proximity to our underground infrastructure and existing operations. The Golden Chest Mine continues to be a target-rich environment, and these high-grade drill results reinforce the investment of a portion of our cashflow in exploration and development activities on-site. As we close out the winter, we are looking forward to ramping up our exploration activities once again. We have a number of drill programs planned for 2025, including further resource expansion drilling at the Golden Chest Mine, exploration drilling of multiple historic mines in the broader Murray Gold Belt District, and our first ever drill program at Eastern Star. Each of these programs have a lot of potential and their success could lead to rapid development given each planned exploration target is located on private land in Idaho.”
In preparation for a busy year ahead on the exploration front, Idaho Strategic has added additional team members to its geology staff to facilitate its planned gold exploration in tandem with the continued advancement of its rare earth elements and thorium projects in central Idaho.
Qualified person
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.
Idaho Strategic Resources, Inc. • 201 N. 3rd Street • Coeur d’Alene, Idaho 83814
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.
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
Email: [email protected]
Phone: (208) 625-9001
Forward Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Often, but not always, forward-looking information can be identified by forward-looking words such as “intends”, “potential”, “believe”, “plans”, “expects”, “may”, “goal’, “assume”, “estimate”, “anticipate”, and “will” or similar words suggesting future outcomes, or other expectations, beliefs, assumptions, intentions, or statements about future events or performance. Forward-looking information includes, but are not limited to, The potential operational and economic viability of mining the veins that contained the drill intercepts included in this press release, the potential for additional drill results to be positive in the future, the potential for drifting to a specific vein to delineate its geometry, the Company’s plans to drill its Eastern Star and Murray Gold Belt targets at any point this year, and the potential for additional discoveries to be rapidly advanced following a successful drill program. Forward-looking information is based on the opinions and estimates of Idaho Strategic Resources as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of IDR to be materially different from those expressed or implied by such forward-looking information. Investors should note that IDR’s claim as the largest rare earth elements landholder in the U.S. is based on the Company’s internal review of publicly available information regarding the rare earth landholdings of select companies within the U.S., which IDR is aware of. Investors are encouraged not to rely on IDR’s claim as the largest rare earth elements landholder in the U.S. while making investment decisions. The forward-looking statement information above, and those following are applicable to both this press release, as well as the links contained within this press release. With respect to the business of Idaho Strategic Resources, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreaks; interpretations or reinterpretations of geologic information; the accuracy of historic estimates; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms; the ability to operate the Company’s projects; and risks associated with the mining industry such as economic factors (including future commodity prices, and energy prices), ground conditions, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward‐looking information is available in Idaho Strategic Resources filings with the SEC on EDGAR. IDR does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Idaho Strategic Resources, Inc. • 201 N. 3rd Street • Coeur d’Alene, Idaho 83814