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GEMXX CORPORATION ANNOUNCES MOBILIZATION OF MINING EQUIPMENT TO THE SNOW CREEK MINE SITE IN BRITISH COLUMBIA, CANADA
GEMXX CORPORATION ANNOUNCES MOBILIZATION OF MINING EQUIPMENT TO THE SNOW CREEK MINE SITE IN BRITISH COLUMBIA, CANADA.
About this update from Gemxx Corp.
[{"type":"text","content":"May 23, 2023 / OTC PR Newswire / GEMXX Corporation (OTC: GEMZ) (\"GEMXX\" or the \"Company\") today announced that in association with Crazy Horse Mining Inc. (“CHMI”) the Company has mobilized equipment to the Snow Creek Mine site for the 2023 mining season.CHMI has now mobilized its mining equipment to the Snow Creek mine to bring the property into full production. In 2022, 100% of the site preparation was completed, including but not limited to access roads, pads for equipment, and ponds that will be used for production. The company also stockpiled 4,800 cubic yards of gold-bearing ore that is ready to be processed. CHMI will complete set up and the first material through the trommel is anticipated near the end of May 2023. The company anticipates processing 1,000 cubic yards of gold-bearing ore per day.“We are pleased to report that the Snow Creek mine site is on time and budget, and management is looking forward to a highly lucrative first year of gold mining” said Mr. Ian McClintock, CHMI’s President.\"The acquisition of the Snow Creek and Rosella Creek gold asset portfolio enhances the Company’s long-term asset expansion plan and helps to de-risk revenues, but most importantly, it complements our Ammolite production with the world’s most sought-after commodity. This will provide GEMXX with a significant reduction in the cost of goods for our entire gold jewelry product line and will bring the Company one step closer to our goal of becoming vertically integrated\" said Jay Maull, GEMXX’s Chief Executive Officer. “To date, there have been 33 test holes drilled and three separate one hundred cubic yard (100 yd3) bulk tests. From our initial testing, indications are that the properties could yield over 100,000 ounces of easily recoverable gold, which will be verified by an S-K 1300 compliant Resource Report this summer.\" added Mr. Maull.GEMXX has acquired 50% of Crazy Horse Mining Inc., including its mineral assets located in British Columbia, Canada. CHMI’s principal Canadian gold exploration assets include the Snow Creek and Rosella Creek projects, as well as additional options on mining claims located in British Columbia. The Snow Creek project includes 498 acres with approximately 80% being mineable and the Rosella Creek project includes 240 acres with an estimated 90% being mineable. Three (3) ini...