Mineral Hill Exploration Program Discovers New Carbonatite

COEUR D'ALENE, ID  - Idaho Strategic Resources (IDR) reported on the 2023 Mineral Hill exploration program, which included mapping, sampling and evaluation for development. These efforts resulted in the discovery of a new pink carbonatite, which yielded 34.1% total rare earth oxides (TREO). Bulk sampling along both the known and newly discovered carbonatite trends may contain some of the highest grade REE values ever identified in the Mineral Hill District.

The Upper Roberts' carbonatite trend is made up of multiple-colored, multi-grade carbonatites. Mapping this summer indicated a new parallel exposure of pink carbonatite, immediately adjacent to the main pale-yellow carbonatite discovered last year. This pink unit was continuously traceable along trend of the pale-yellow carbonatite for approximately 200 feet (60 m) with up to 24-inch (60 cm) thicknesses. One sample (#98377) from this newly discovered carbonatite went as high as 34.1% TREO which includes >4% Neodymium (Nd)-Praseodymium (Pr). The pale-yellow carbonatite, previously reported contains abundant sand-sized monazite crystals, and assayed 23.5% TREE (elemental) or 28.2% TREO (oxide). Mineralogy analysis is still pending, but the rare earth ore mineral is dominantly monazite, although bastnaesite and ancylite were also observed. An additional pale green carbonatite was mapped and noted to contain ilmenite with magnetite crystals, which measure up to 2 inches (5 cm). REE grades of this pale green carbonatite yield values between 1 and 3% TREO. The carbonatite trend was traced approximately ½ mile with variable thicknesses between 2 to 5 feet (0.6-1.3 m).

President and CEO, John Swallow, said, "I am extremely pleased with the grades discovered at the Upper Roberts occurrence within our Mineral Hill REE Project. To be able to provide samples like this to interested parties looking to advance the U.S.' rare earth supply chain is invaluable to Idaho Strategic. Our track record of responsible production within the state of Idaho and our ability to advance mineral deposits in-house from exploration to production has provided us a leg up on others in the REE and broader critical minerals industry. Given we operate in our own backyard, we understand firsthand the responsibility of working in someone else's."

New outcrops of carbonatite were also found during mapping efforts. These mapped outcrops, show additional trends broken by faulting and intruded by additional igneous activity. Geochemical analysis for these additional carbonatite exposures is pending, but these assay results may point the way to the heart of the carbonatite system.

Additional field work on the Mineral Hill project included the collection of large bulk metallurgy samples for mineral processing and concentrate development evaluations. These samples were gathered along strike of the main carbonatite trend beginning at the 28.2% TREO exposure and continued 25 ft uphill towards the recently mapped 34.1% TREO outcrop.The bulk samples included both pink and pale-yellow carbonatite units, since they are contiguous. The results of the bulk samples (#98370-#98376) range from 20.8% to 28.6% TREO. The company is planning to develop drill targets that will further define Upper Roberts' REE potential. The next step will be cross-section interpretations to aid in planning for drill testing and permitting. Future work in this area will include the continuation of mapping efforts over the remaining 1,800 acres in order to locate new carbonatite occurrences.