Lone Jack Mine
© Idaho North Resources 2011-2017

IDAHO NORTH RESOURCES ANNOUNCES ACQUISITION OF THE LONE JACK

PROPERTY, A HIGH-GRADE GOLD MINE IN NW WASHINGTON STATE:

August 24, 2016 Idaho North Resources (OTC:IDAH) (“IDAH” or the “Company”) announced today the signing of an Exploration with Option to Purchase Agreement with PLV Holding, LLC (“Owner”), 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. 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. Pursuant to the agreement IDAH will issue 500,000 shares to the Owners, conduct road maintenance and provide insurance for the property. The Owners will retain a 3% NSR and IDAH has the option to purchase the property for one million dollars. Continue reading Lone Jack Property press release as a PDF file.