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IDAHO NORTH RESOURCES ANNOUNCES ACQUISITION OF THE LONE JACK PROPERTY, A HIGH-GRADE GOLD MINE IN NW WASHINGTON STATE

RICHLAND, WASHINGTON, USA, August 24, 2016 /EINPresswire.com/ -- 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.

Lane Griffin, President and CEO of IDAH stated, “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.”

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. IDAH is led by mining professionals with a proven track record of delivering value to shareholders. For more information, visit the Idaho North website at www.idahonorthresources.com.


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.

Cautionary Statement

This news release contains certain forward looking statements within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the company believes are reasonable but which are subject to a wide range of uncertainties and business risks. There are many factors that could cause actual results to differ from those anticipated

Contact
Idaho North Resources
Lane A. Griffin, President
Cell: 206-790-3346
info@idahonorthresources.com

lane griffin
idaho north resources
2067903346
email us here

Distribution channels: Mining Industry


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