Business
New Jersey Mining Company Provides 2019 Operating and Financial Results – and Some Thoughts
COEUR D'ALENE, ID / ACCESSWIRE / March 23, 2020 / New Jersey Mining Company (CSE:NJMC) (OTCQB:NJMC) ("NJMC" or the "Company") today announced its consolidated o
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, ID / ACCESSWIRE / March 23, 2020 / New Jersey Mining Company (CSE:NJMC) (OTCQB:NJMC) (\"NJMC\" or the \"Company\") today announced its consolidated operating and financial results for the year ending December 31, 2019. NJMC CEO and President, John Swallow stated, \"As I prepare the quotational part of this press release I can't help but think just how different the global backdrop is today as opposed to a short time ago. We first became aware of the coronavirus while at the VRIC in January, so we kept our distance, Rob brought hand sanitizer for the table and we washed our hands often. And while we had a heightened sense of awareness, the virus had not (officially) landed on our shores. Now, as the world has transformed to a more healthcare wartime footing, NJMC has done its part for stakeholders and the community - while responsibly holding its place on the front lines. We are pleased to see the guns now pointed outward as opposed to what had become a sad commentary on our society.\" Operational Highlights include the following: For the year ending December 31, 2019 a record 52,170 dry metric tonnes (dmt) were processed at the Company's New Jersey Mill with an average gold head grade of 3.46 grams per tonne gold (gpt). NJMC produced a record total of 5,060 ounces of gold contained in concentrates. Mined 41,385 tonnes of ore from the open pit at an average grade of 2.86 gpt gold with an average stripping ratio of 4.4 and average daily mining rate of 1,200 tonnes per day (tpd). Mined and stockpiled 31,870 tonnes of lower grade material from the pit leaving a total of 89,575 tonnes at a gold grade of 1.09 gpt in stockpile at year end for a potential heap leach operation. Mined 10,790 tonnes of ore from the underground mine at an average grade of 5.79 gpt gold, placed 1,583 cubic meters of cemented rockfill (CRF) and completed 43 meters of development required for the access of new stopes. A new 20-metric tonne underground haul truck was acquired which increased the backfilling rate by 50%, thereby increasing the monthly ore production for the underground mine. A new 2.0 cubic meter LHD was also acquired which significantly increased the mechanical availability of the mining fleet. Completed engineering studies that showed and expansion of the current pit (Idaho Pit) to the north and the development of satellite pit...