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New Jersey Mining Company Discovers New Footwall Vein at Golden Chest, Ships First Ore to the New Jersey Mill
COEUR D'ALENE, Idaho, Sept. 22, 2016 (GLOBE NEWSWIRE) -- New Jersey Mining Company (OTCQB:NJMC) (“NJMC” or the “Company”) today announced the discovery of a new
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":"COEUR D'ALENE, Idaho, Sept. 22, 2016 (GLOBE NEWSWIRE) -- New Jersey Mining Company (OTCQB:NJMC) (“NJMC” or the “Company”) today announced the discovery of a new footwall vein (the “Stevens Vein”), and also provided an update on open pit operations, at its Golden Chest Mine project near Murray, Idaho. Pit excavation has revealed three veins in the pit area, a hanging wall vein thought to be the Jumbo vein, the Idaho vein, and the newly-recognized Stevens Vein. On the 1096 bench, trench sampling has shown the Stevens Vein and the Idaho Vein to be at least three meters wide (true thickness) with a grade of 15.2 grams per tonne (gpt) gold, and approximately two meters (true thickness) with a grade of 4.0 gpt gold, respectively. NJMC President John Swallow stated, “The Stevens Vein discovery is an exciting development for the Company. A preliminary review of previous drilling data suggests that this footwall vein may extend for some distance along strike to the north, potentially allowing for pit expansion and/or possible future underground resources. The previous drilling, while identifying the starter pit, was far from comprehensive in this area. Meanwhile, underground dewatering continues and we plan to be mining underground later this year.” Ore control sampling taken from exposed rock and blast hole drilling have shown assays with average gold grades of approximately 5 gpt, matching favorably with the modeled resource, previous core drilling, and recent trench sampling. Blasthole assay results on the 1090 bench show most of the gold in the pit area is associated with the Stevens Vein. For an overhead view of blasting at the open pit, please visit the Golden Chest Mine page of the Company website at www.newjerseymining.com/golden-chest. During the first month of open pit operations, stripping started at the 1116 elevation and mining has progressed down to the 1090 bench. Mining is now completed on 3-meter benches after drilling and blasting on 6-meter intervals. Approximately 2,000 tonnes of ore have been mined and are being delivered to the Company’s nearby New Jersey Mill. The open pit is located in an area of Idaho Vein outcrop, about 200 meters directly above the recently built mine portal. The starter pit contains an estimated 13,000 tonnes of mineralized material at an average grade of 4.99 gpt gold,...