Idaho North Resources Acquires Lone Jack Gold Mine, Washington State
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Idaho North Resources has signed an exploration with option to purchase agreement with PLV Holding, LLC, the owners of the Lone Jack Property in Whatcom County, Washington.
The property consists of a group of five patented lode mining claims covering 88 acres and is located in the North Cascade Range of Washington State, three miles south of the Canadian border. The fully permitted mine has produced historically over 30,000 ounces of gold at average grades ranging from 0.5 to 3.0 ounces per ton. Modern production since 1991 has resulted in the creation of over 4500 ounces at an average grade of over 1.0 ounce per ton as supported by mill receipts from the Asarco and Kinross mills where the ore was processed.
“With this acquisition Idaho North Resources has a high quality portfolio of exploration opportunities including the silver-rich Klondyke property in Nevada that is being explored by our partner Coeur Mining, a business alliance with the Lithium Corporation, and now this near term high grade gold producer,” said Lane Griffin, president and CEO of Idaho North Resources.
The ore can be characterized as free milling high-grade gold hosted in quartz veins. Two of the three historically productive veins are accessible through existing workings and can be mined once the company has conducted its development field work.
An exploration program is scheduled to include mapping, Vulcan 3-D graphics, sampling and video drone reconnaissance. A drilling program to test extensions of known productive veins is planned for the near future. No exploration drilling has been conducted on the property historically and the veins are completely open down dip and in a southerly direction.
The owners will retain a 3 percent NSR and Idaho North Resources has the option to purchase the property for one million dollars.
About Idaho North Resources
Idaho North Resources is a U.S. based junior company exploring for gold, silver, and alternative energy sources throughout the western US.
To stop by Idaho North Resources’ website, CLICK HERE
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