Business
New Jersey Mining Company Provides 2020 Operating and Financial Results - and 2021 Outlook
COEUR D'ALENE, ID / ACCESSWIRE / March 31, 2021 / 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 31, 2021 / 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, 2020. NJMC CEO and President, John Swallow stated, \"At this time last year I commented on just how much the global backdrop had changed, however little did we know that the \"change\" I was referring to would pale in comparison to that which lay ahead. As a workforce we kept our heads down and focused on the things within our control, with a plan to emerge from the pandemic a considerably stronger company. Needless to say, 2020 left us with more than our fair share of financial, community and societal discussions… all of which was handled in an insightful manner and with a drive that resulted in substantially more than our fair share of advancement, asset growth and overall corporate success. The Company was advanced more in 2020 than any other year in our existence.\" Highlights for 2020 include: Added two rare earth element properties in central Idaho, the Diamond Creek and Roberts Projects. Both are listed by the USGS in our national critical mineral inventory. Increased land position just west of the Golden Chest Mine, acquiring the Alder Gulch Project which contains 368 acres of patented land. Added additional mining equipment and a second crew of miners in the third quarter of 2020 to increase underground mine production and initiate underground development of the Main Access Ramp, which is expected to result in increased underground production rates beginning the first quarter of 2021. The Company's core drilling rig was restarted in the fourth quarter of 2020 with drilling on the north end of the property in the Katie-Dora area. This hole intercepted three narrow quartz veins with an average true thickness of 20 centimeters with gold grades ranging from 10 to 75 gpt gold. Drilling successfully continued into 2021 and is ongoing. Operational Highlights include the following: For the year ending December 31, 2020 39,880 dry metric tonnes (dmt) were processed at the Company's New Jersey Mill with an average gold head grade of 3.03 grams per tonne gold (gpt). NJMC produced a total of 3,755 ounces of gold contained in concentrates, mining 27,690 tonnes of ore from the open pit at an average grade of ...