Idaho Strategic Resources has signed a long-term lease agreement for the Niagara copper and silver project, located in the Murray Gold Belt district in Idaho, thereby expanding its mineral asset portfolio in a key region for U.S. mining.
The Niagara copper and silver project and its historical resources
The Niagara project is a sediment-hosted Revett-type deposit, with a historical estimate reporting over 150 million pounds of copper and approximately 8 million ounces of silver. These resources are primarily concentrated in the upper part of the Revett Formation.
Furthermore, previous studies identified significant mineralization in this geological unit, although large areas of the deposit remain undrilled, especially at deeper levels and along its lateral extent.
Strategic location and operational synergies
The deposit is located approximately 7 kilometers from the Golden Chest mine, currently operated by Idaho Strategic. This proximity facilitates access to existing infrastructure and specialized labor, which could optimize future developments.
Additionally, the project is surrounded by mining concessions controlled by the company, which strengthens its position in the Murray Gold Belt district and opens opportunities to consolidate operations in the area.
Lease agreement details
The agreement establishes an initial annual payment of $18,000 with 3% annual increases over an initial 10-year period, with an option for extension for additional terms.
Idaho Strategic will also grant a 2% net smelter royalty on produced minerals, with the option to repurchase 1% for one million dollars at any time during the term of the agreement.
Exploration plans and next steps
The company has scheduled a drilling campaign for 2026 with the aim of validating and updating historical resources, as well as evaluating the continuity of mineralization at depth and along strike.
According to the company, this new phase will improve confidence in the deposit’s geological model and determine its growth potential.
A move aligned with the company’s strategy
President and CEO, John Swallow, highlighted that the project fits Idaho Strategic’s diversification strategy, which combines gold production with exploration for other key metals.
In this context, the incorporation of Niagara strengthens the company’s exposure to copper and silver, in a scenario marked by increasing demand for raw materials.
Source: Idaho Strategic
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