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New Jersey Mining Company Adds to Murray Gold Belt Portfolio
COEUR D'ALENE, Idaho, Sept. 13, 2018 (GLOBE NEWSWIRE) -- New Jersey Mining Company (OTCQB/CSE:NJMC) (“NJMC” or the “Company”) announced today that it has added
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, Idaho, Sept. 13, 2018 (GLOBE NEWSWIRE) -- New Jersey Mining Company (OTCQB/CSE:NJMC) (“NJMC” or the “Company”) announced today that it has added to its Murray Gold Belt portfolio by staking the Giant Ledge Claim Group (Giant Ledge), located southeast of the Golden Chest Mine. The Giant Ledge Project consists of 37 un-patented claims and covers the historic Giant Ledge and Raven mines. The Giant Ledge Mining Company was active between the years of 1917 to 1926. According to historical records, the main working was a 122m shaft with over 685m of drifts, raises, winzes, and stopes near the bottom of the shaft. The reported target of the underground development was mineralization related to the French Gulch Fault, which forms a contact between Proterozoic Prichard Formation and a monzonite intrusive. Historical geologic reports describe the mineralization as structurally controlled veins and disseminations, including galena, pyrite, chalcopyrite, and gold in fractures within silicified Prichard Formation; and within the monzonite intrusive as pyrite, chalcopyrite, galena, tetrahedrite, and gold in sheared seams. Exploration work completed by Sunshine Mining Company between 1982 and 1989, collected 88 soil samples on 13 lines, and completed a magnetic survey totaling 2,408m in 1984, a diamond drilling program completed two core holes totaling 210.6m. Both holes intersected the French Gulch Fault Zone and its related mineralization. These efforts roughly indicated a gold target. New Jersey Mining (NJMC) first prospected the area in 2008 after recognizing lead isotope data from the Giant Ledge was very similar to those from the Golden Chest and Toboggan properties. Assessment of the area began with mapping and soil sampling, followed by magnetic and VLF geophysical surveys. Additionally, NJMC acquired the 1984 Sunshine core and relogged/resampled for gold and 48 other elements. This work displayed the mineralized zone was intersected in the two Sunshine drill holes from 1984. Furthermore, this work has revealed a gold anomaly approximately 500m in diameter located in the intrusive adjacent to the French Gulch Fault. NJMC’s current claim block also covers the historic Raven Mine (430m of underground workings), which shows gold mineralization may also be related to similar geological settings along...