Idaho Strategic Announced Participation in the IGEM Project; IDR Plans to Conduct Roughly $1M Worth of Rare Earth Element Drilling on Its Diamond Creek Property Near Salmon, Idaho

03/15/2022 07:10

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daho Strategic Resources, Inc. (NYSE American: IDR) ("IDR", "Idaho Strategic" or the "Company") is pleased to announce its partnership and participation in the Idaho Global Entrepreneurial Mission (IGEM) Project focused on the "Development of Idaho-Sourced...
daho Strategic Resources, Inc. (NYSE:IDR) ("IDR", "Idaho Strategic" or the "Company") is pleased to announce its partnership and participation in the Idaho Global Entrepreneurial Mission (IGEM) Project focused on the "Development of Idaho-Sourced Rare Earth Elements Drilling and Extraction". In addition to IDR, the complete list of participants includes the University of Idaho (UI), Idaho Geological Survey (IGS), Idaho National Labs (INL), Center for Advanced Energy Studies (CAES), and the Idaho Department of Commerce (see fig 1). The primary focus of the project is on environmentally friendly separation and processing techniques for neodymium (Nd), praseodymium (Pr), and yttrium (Y). The overall goal of the IGEM Project is to advance Idaho-sourced rare earth elements (REEs), with a possible result being the demonstration of the potential for environmentally minded Idaho-based commercialization of REEs and REE end products. Idaho Strategic was chosen as the industry partner for the project due to its ownership of two nationally recognized REE project(s) in Idaho. IDR plans to conduct roughly $1 million worth of rare earth element drilling on its Diamond Creek property near Salmon, Idaho, and will supply REE core samples to its program partners for study and analysis. "The fact that this group of Idaho participants has come together for a common goal speaks volumes about the level of cooperation within the State of Idaho. Recognition of the actual status of our country's readiness and serious lack of investment in technology metals and infrastructure was a common theme in the preparation of our application." Commented Idaho Strategic CEO, John Swallow. "We have some very talented and similarly focused partners involved in this project who recognize that we have the opportunity to properly advance this project from the onset. After everything that our country has been through the last two years, it is encouraging to see the State of Idaho looking to create an ‘Idaho Solution' to some of the environmental, social, and political issues stemming from the United States' almost 100% reliance on China for REEs." Principal Investigator and Project Lead from the University of Idaho, Amin Mirkouei stated, "IDR has established a strong working relationship with UI over the past couple of months and we are excited to collaborate and advance Idaho-sourced REEs exploration for potential commercialization. The national interest in the domestic REEs industry is well-documented and happening now. The Lemhi-Pass District deposits show strong enrichment in the middle rare earths (like Nd), which is important for manufacturing high-performance permanent magnets. This partnership will set baselines for future studies and contribute needed incentives to attract new commercial operators to the region and the state territory at large. We anticipate that Idaho-sourced REEs research and development will improve domestic land-use, bioeconomy and have long-term positive economic impacts on Idaho, as well as help the nation to reduce reliance on foreign REE resources and other critical minerals." Idaho Strategics' Vice President of Exploration, Rob Morgan concluded, "We are fortunate to stand on the broad shoulders of those that came before us. I am eager to get down to our Diamond Creek Property this spring and build upon the work already completed by the Idaho Geological Survey (IGS), the United States Geological Survey (USGS), and the Department of Energy (DOE). The timing of our drill program coincides perfectly with the IGEM Project and is another example of the value that comes with operating in the mineral endowed and business-friendly jurisdiction of the great state of Idaho." In closing, the advancement of the IGEM Project is a natural next step for Idaho Strategic and the state of Idaho. The Company is encouraged by the pedigree and willingness of each of the participants involved and is eager to see Idaho get the well-earned recognition it deserves as the #1 ranked jurisdiction for mining policy in the world (per the Fraser Institute). The folks at IDR are looking forward to sharing in the knowledge gained from the entirety of the IGEM Project and are aligned with the University of Idaho's focus on finding an environmental solution to rare earth element processing.
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