COEUR D'ALENE, Idaho--(EON: Enhanced Online News)--Idaho North Resources (OTC:IDAH) (“IDAH” or the “Company”) in conjunction with Coeur Mining, Inc. (NYSE:CDE, “Coeur”) today announced the beginning of a drill campaign at the Klondyke property in Esmeralda County, Nevada. Coeur Mining and Idaho North will immediately commence a drill program of 22 reverse circulation drill holes with an aggregate footage of 6000 feet (2000 meters).
The Company has an Exploration Program Agreement with Coeur Mining under which Coeur will fund, and have exclusive earn-in rights to certain Company properties such as the Klondyke claims. (For more details, please see the IDAH press release dated October 2, 2014 at www.idahonorthresources.com.)
The Klondyke property is located approximately 10 miles south of the historic silver district of Tonopah, Nevada within the prolific Walker Lane Structural Zone.
The northern portion of the Klondyke District, much like the region surrounding it, is characterized by exposures of Tertiary volcanic and sedimentary rocks hosting low-sulfidation, epithermal gold-silver mineralization. Target models include the Midas, Midway, Goldfields, Tonopah, Hasbrouck, Three Hills, and Round Mountain type systems.
In the central portion of the Klondyke District, silver-base metal mineralization is hosted in Cambrian and Paleozoic carbonate rocks intruded by various intrusive stocks, dikes, and sills. Mineralization target models in this part of the district include mesothermal quartz veins, supergene silver bodies, and possible much larger, concealed gold-silver-copper-lead porphyry systems.
ABOUT IDAHO NORTH RESOURCES
Idaho North Resources is a U.S. based junior company exploring for gold, silver, and alternative energy sources. The Company has an Exploration Program Agreement with Coeur Mining which Coeur will fund, and have exclusive earn-in rights to certain of the Company’s properties. The Company also has a 50/50 business alliance agreement with the Lithium Corporation for the acquisition of Lithium properties in the state of Nevada. In addition, the Company also recently optioned the high-grade Lone Jack Gold Mine property in northeastern Washington.
Coeur Mining, Inc. (“Coeur Mining”) is a well-diversified, growing precious metals producer with five precious metals mines in the Americas employing approximately 2,000 people. Coeur produces from its wholly owned operations: the Palmarejo silver-gold complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, and the San Bartolomé silver mine in Bolivia. Coeur Mining also has a non-operating interest in the Endeavor mine in Australia as well as a royalty interest in Ecuador. In addition, Coeur Mining has two silver-gold exploration stage projects - the La Preciosa project in Mexico and the Joaquin project in Argentina. Coeur Mining conducts ongoing exploration activities in Alaska, Nevada, South Dakota, Wyoming and Mexico.
This press release was prepared under the supervision and review of Lane Griffin, a Registered Member of the Society for Mining, Metallurgy and Exploration, a Licensed Geologist, and a Qualified Person as defined in NI 43-101 and has verified the technical information contained within as valid and authentic.
Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements can be identified by the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should,” or “scheduled to” or other variations of these terms. Forward-looking statements address activities or developments that the Company anticipates will or may occur in the future, and are based on current expectations and assumptions. Although management believes that its expectations are based on reasonable assumptions, it can give no assurance that these expectations will prove correct.