Golden Chest Mine Feasibility Study: $31M Capex Over a 6-Year Mine Life
Idaho Strategic Resources, Inc.'s Golden Chest Mine in Shoshone County, Idaho, USA has a Feasibility Study outlining initial capital of $31M. The mine plan runs 6 years at about 70000 oz Au recovered (approx. 40,000 t/yr ore, recovered 70,300 troy oz) per year.
Idaho Strategic Resources, Inc.'s Golden Chest Mine has reported Feasibility Study results for the gold project in Shoshone County, Idaho, USA. It reflects Idaho Strategic Resources, Inc.'s (IDR) latest disclosed economics for the asset.
Economics. Initial capital expenditure is estimated at $31M. Economics are based on $2,580 per troy ounce (3-year trailing average 2023-2025).
Production and mine plan. The project envisions an underground (cut-and-fill) operation. Life of mine is 6 years. Average annual production is approximately 70000 oz Au recovered (approx. 40,000 t/yr ore, recovered 70,300 troy oz). Average head grade is 6.95 gpt Au. Metallurgical recovery averages 93%.
Resources and ownership. The company holds a 100% interest in the project. Royalties and streams: 2% NSR payable to Calibre Mining (core land); company also owns additional patented/unpatented land not subject to any NSR.
These figures are extracted from Idaho Strategic Resources, Inc.'s technical disclosures and reflect the most recent Feasibility Study on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Proven & Probable | 338,521 tonnes | 6.95 gpt Au | — |
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Measured & Indicated | 1,086,503 tonnes | 4.09 gpt Au | — |
| Inferred | 528,878 tonnes | 2.98 gpt Au | — |
Our Analysis
- Initial capex
- $31M
costlier than 11% of 121 projects we track
- Mine life
- 6yrs
- Study price assumption
- $2,580 per troy ounce (3-year trailing average 2023-2025)
- Spot gold today
- $4,139.10/oz
The numbers here are not outliers; they sit comfortably within the middle of the 121 gold projects we track. The value is in the rank. A US$31M initial capex is lower than 89% of that peer set, and the build cost is small relative to the company's US$462M market cap. That is the sharpest funding-risk signal available: a project this size can be financed without the dilution or distress that plagues larger builds. This is also one of six projects we track for this company, so the risk is spread across a diversified portfolio rather than concentrated in a single bet.
The confidence in these numbers is earned. This is a feasibility study, the build-ready estimate with a typical plus or minus 15% band, not a scoping-level PEA. That matters because the project is already in the Production stage with a 6-year mine life. A short life is a constraint, but the study stage means the schedule, costs, and grade model have been stress-tested to a degree that most of the peer set cannot claim. The jurisdiction, Shoshone County, Idaho, is a mining-friendly signal that further de-risks the execution story.
The one tension is price. The study uses $2,580 per troy ounce, a 3-year trailing average, while today's spot is $4,139.10. That is a wide gap, and it cuts both ways. If the current price holds, the returns are materially understated and the project carries embedded upside. If the current price is a spike, the study's conservative assumption protects the downside. The single question that decides whether this works is simple: does the market believe the current gold price is durable? If yes, this is a low-risk, low-capex build with meaningful upside. If no, the feasibility-grade numbers at $2,580 still stand on their own.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.