Business
New Jersey Mining Company Provides First Quarter Results of Operations and Corporate Activities
COEUR D'ALENE, ID / ACCESSWIRE / May 17, 2021 / New Jersey Mining Company (OTCQB:NJMC) ("NJMC" or the "Company") today announced its consolidated operating and
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, ID / ACCESSWIRE / May 17, 2021 / New Jersey Mining Company (OTCQB:NJMC) (\"NJMC\" or the \"Company\") today announced its consolidated operating and financial results for the first quarter of 2021. The full version of the Company's interim unaudited consolidated financial statements and management's discussion and analysis (MD&A) can be viewed on the Company's web site, and EDGAR. All amounts are expressed in U.S. dollars unless otherwise specified. NJMC President and CEO, John Swallow stated, \"We accomplished a great deal in the first quarter - from underground development, increased underground production, and a considerable amount of core drilling (kudos to Eric and Richard for making the drill their own). Additionally, our purchase of the last remaining large block of land in the Murray Gold Belt (MGB) was largely advanced during the quarter, and each employee in the company was awarded stock options for the first time in a while. Looking ahead we plan to further utilize the Company drill at the Golden Chest ahead of underground production and development and to conduct exploration drilling on the surface, therefore increased exploration costs (and corresponding results) are to be expected in the months ahead. The bullets below tell the story… we faced challenges and overcame them with a record production month in March, which was followed by a very strong April. And some of the highest-grade gold numbers we've seen were also released during the quarter.\" Highlights during the first quarter of 2021 include: At the Golden Chest, ore tonnage from the underground stopes increased significantly in the first quarter of 2021 as 5,700 tonnes of ore were mined from the 842 and 891 stopes. Significant progress was also made in the Main Access Ramp (MAR) and associated development (sumps, muck bays and ventilation drifts). The advance rate in the MAR was substantially increased with the addition of a new 5-cubic meter Caterpillar R1600 LHD in the first quarter of 2021 which reduced muckout times by 60%. Underground mining during the quarter was hampered by a strong windstorm on January 13 that knocked out the power to the mine for a week. In January and February, the Company completed 3,500 meters of core drilling at the Golden Chest with a contract core driller. Three areas along the Idaho fault were tested: the...