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United States
Golden Chest Mine

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 Location:
2 km SE from Murray, Idaho, United States

  Address:
201 N. 3rd St.
Coeur d’Alene
Idaho, United States
83814
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit & Underground
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Drift & Fill
  • Cemented backfill
Processing
  • Gravity separation
  • Shaker table
  • Centrifugal concentrator
  • Flotation
Mine Life9 years (as of Jan 1, 2022)
The Golden Chest Mine is comprised of an underground mine, an open pit mine, and an exploration project.
Latest NewsIdaho Strategic Resources Provides 2021 Operating and Financial Results     March 31, 2022


Owners

Source: p. 12
CompanyInterestOwnership
Idaho Strategic Resources, Inc. 100 % Indirect
IDR owns 100% of the Golden Chest LLC (owner of the Golden Chest Mine).

Deposit Type

  • Vein / narrow vein
  • Orogenic
  • Intrusion related


Summary:

Gold mineralization occurs in veins associated with multiple faulting and folding events in the Coeur d’Alene Mining District. The mineralization occurs as gold- quartz veins associated with an orogenic deposit type. The orogenic system at the Golden Chest appears to have an association with igneous rock activity. Hence, the vein deposits may be described as intrusion-related orogenic gold. The principal vein being exploited at the Golden Chest Mine is associated with the Idaho Fault, which juxtaposes the quartzites of the upper Prichard Formation against finer-grained argillites, also of the upper Prichard Formation.

Veins occur adjacent to the Idaho Fault both in its footwall, and in its hanging wall. The mineralization occurs in two types of quartz veins, banded and massive. These veins are generally conformable to bedding in the Proterozoic age Prichard Formation. The banded veins, which occur primarily in argillite, contain, pyrite, arsenopyrite, galena, sphalerite and visible gold. Thicker, massive veins occur in quartzite and contain pyrite, galena, chalcopyrite, sphalerite, scheelite and visible gold.


Mining Methods

  • Truck & Shovel / Loader
  • Drift & Fill
  • Cemented backfill


Summary:

Golden Chest includes both open-pit and underground operations.

The Golden Chest underground mine is accessed by primary decline ramp (MAR) with a complimentary escape-way incline ramp. The primary mining method is underhand drift-and-fill utilizing cemented rock-fill (CRF). During 2021, IDR mined a total of 17,180 tonnes of ore at an average grade of 5.32 gpt gold. The ore came from the 891, 842, 833 and 824 stopes. The decline (MAR) was extended at depth during 2021 to the 815 sublevel which required about 190 meters of ramp development and two exhaust ventilation raises were completed by IDR miners. A two-boom jumbo was added late in the year to accelerate MAR development.

In 2021, IDR continued its open pit mining operation which commenced in August of 2016. Mining in the Klondike pit advanced from the 1032 bench to the 1002 bench during the year. A total of 27,125 tonnes of ore at average grade of 2.92 gpt gold and 174,000 tonnes of waste were mined during the year. Ore tonnes and grade in the Klondike Pit were lower than modeled because of unmapped, historic stopes in the Klondike where high-grade material had been mined out by the old-timers.


Crushing and Grinding
Crusher / Mill TypeModelSizePowerQuantity
Cone crusher 1
Ball mill 2.4m x 4.0m 1


Processing

  • Gravity separation
  • Shaker table
  • Centrifugal concentrator
  • Flotation

Source: Subscription required

Summary:

The New Jersey Mill is a fully-permitted, 360-tonne per day, flotation mill and concentrate leach plant (“CLP”) located two miles east of Kellogg, Idaho, in the Coeur d'Alene Mining District.

In October 2016, the Company resumed operations at the New Jersey Mill, processing ore extracted from open and underground of the Golden Chest.

IDR is the JV manager and retains a 65% interest in JV assets as well as the right to process its own ore at the rate of 3,000 tonnes per month and to allocate unused and excess capacity in its role as manager. The property covered by the JV agreement includes the crushing circuit, grinding circuit, gravity circuit, flotation circuit, CLP, buildings, and surface rights only over the patented mill site claim. Unpatented mill site claims are also part of the JV.

The gravity circuit is comprised of a vibrating screen and a Knelson Concentrator and will be used to process a portion of the recirculating load in the grinding circ ........

Recoveries & Grades:

CommodityParameter20212020201920182017
Gold Recovery Rate, %  ......  Subscription required  ......  Subscription required  ......  Subscription required
Gold Head Grade, g/t  ......  Subscription required  ......  Subscription required  ......  Subscription required3.474.11

Production:

CommodityUnits20212020201920182017
Gold oz  ......  Subscription required  ......  Subscription required  ......  Subscription required3,4003,525
All production numbers are expressed as metal in concentrate.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Ore tonnes mined  ......  Subscription required  ......  Subscription required52,185 t
Waste  ......  Subscription required  ......  Subscription required183,450 t
Stripping / waste ratio  ......  Subscription required  ......  Subscription required4.43
Tonnes processed  ......  Subscription required  ......  Subscription required52,170 dmt31,230 dmt31,350 dmt6,000 t
Daily processing capacity  ......  Subscription required  ......  Subscription required360 t360 t360 t
Subscription required - Subscription is required.

Reserves at December 31, 2021:
Mineral Reserves are reported at a 2.0 g/t Cut-off.

CategoryTonnage CommodityGrade
Proven 38,700 t Gold 4.87 g/t

Commodity Production Costs:

CommodityUnits2021202020192018
Cash costs Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,186 / oz
All-in sustaining costs (AISC) Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,579 / oz
Subscription required - Subscription is required.

Financials:

Units20212020201920182017
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required3.6   4.3  
Gross profit M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required-0.7   1.2  
Pre-tax Income M USD  ......  Subscription required
After-tax Income M USD  ......  Subscription required  ......  Subscription required0.8   0  
Operating Cash Flow M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required-1.4   0.3  
Subscription required - Subscription is required


Heavy Mobile Equipment:
HME TypeModelSizeQuantityLeased or
Contractor
Ref. Date
Load-Haul-Dump (LHD) 2 cu. m ....................... Subscription required Leased Dec 31, 2019
Truck (underground) ....................... Subscription required 14 t ....................... Subscription required Leased Dec 31, 2017
Truck (underground) 20 t ....................... Subscription required Leased Dec 31, 2019
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 6, 2022
....................... Subscription required ....................... Subscription required Subscription required Apr 6, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2021
Subscription required 2020
Subscription required 2019
Subscription required 2018
Subscription required 2017
Subscription required 2016

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Form 10-K 2018
Corporate Presentation 2017
Form 10-K 2017
Form 10-K 2016
Form 10-K 2015
Press Release 2014
Technical Report 2013
Year-end Mineral Reserves 2013
Subscription required - Subscription is required.

News:

NewsDate
Idaho Strategic Resources Provides 2021 Operating and Financial Results March 31, 2022
Idaho Strategic Resources Continues to Drill Gold-Quartz Veins at Klondike and Paymaster December 13, 2021
New Jersey Mining Completes Reverse Stock Split and Name Change to Idaho Strategic Resources, Inc. December 6, 2021
New Jersey Mining Company Continues Drilling High-Grade Gold-Quartz Veins in Klondike Area September 23, 2021
New Jersey Mining Company Drills High-Grade Gold-Quartz Veins in Klondike Area August 26, 2021
New Jersey Mining Company Drills Double Gold Veins in Paymaster Shoot May 24, 2021
New Jersey Mining Company Evaluates Potential for 20,000 Oz/Year Gold Production at Golden Chest Mine & Possible Spin-out of Rare Earths... March 3, 2021
New Jersey Mining Company Intersects High-Grade Gold Veins Down-Dip in Paymaster Shoot February 18, 2021
New Jersey Mining Company Intercepts Idaho Vein in Two Drill Holes - Extending Mineralization to the North May 21, 2019

Aerial view:

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