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GEMXX Corporation (GEMZ) Reports 2023 Gold Production at 100% of Target for the Snow Creek Test Mine Site in British Columbia, Canada
GEMXX Corporation (GEMZ) Reports 2023 Gold Production at 100% of Target for the Snow Creek Test Mine Site in British Columbia, Canada.
About this update from Gemxx Corp.
[{"type":"text","content":"\n LAS VEGAS, Oct. 24, 2023 (GLOBE NEWSWIRE) -- via IBN / GEMXX Corporation (OTC: GEMZ) (\"GEMXX\" or the \"Company\"), a leader in the ammolite gemstone mine-to-market segment and a partner in Canadian gold exploration, is pleased to announce its collaboration with Crazy Horse Mining, Inc. (“CHMI” or “Crazy Horse”) has successfully completed its third and final clean-out and recording of gold production at the Snow Creek Mine site for the 2023 mining season. GEMXX, in partnership with CHMI, has processed a total of 31,200 cubic yards of gold-bearing ore during the 2023 test season at its Snow Creek mine. The production results have met all expectations yielding 0.929 ounces per 100 cubic yards. This is a positive number considering much of the material used during the test program was surface “gold bearing ore” that was stockpiled when making roads, ponds and pads used for the test site. “We are extremely pleased that the commercial production from the Snow Creek mine has met our expectations, and proven the project is definitely worth scaling up in 2024,” said Crazy Horse President Ian McClintock. The Snow Creek project encompasses 498 acres, with approximately 80% being mineable, while the Rosella Creek project covers 240 acres, with an estimated 90% being mineable. GEMXX and CHMI are in discussions to move the test plant from Snow Creek to the adjacent Rosella Creek property to confirm the gold on that property in 2024. CMHI and GEMXX are determining how large to scale up operations on the Snow Creek property to maximize the property's commercial potential. \"Gold production from the Snow Creek mine helps to de-risk revenues, but most importantly, it complements our Ammolite production with the world’s most sought-after commodity. Producing our own gold provides GEMXX with a significant reduction in the cost of goods for our entire gold jewelry product line, bringing the Company one step closer to our goal of becoming vertically integrated,\" said GEMXX CEO Jay Maull. About Crazy Horse Mining Inc. Crazy Horse Mining Inc. (CHMI) is a Canadian Junior resource company with mining properties in British Columbia, Canada. CHMI’s 498-acre Snow Creek claim is located adjacent to the infamous Christie’s Lead gold deposit which in 1876 was described as “the r...