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New Jersey Mining Company Provides Preliminary First Quarter 2021 Operating Results
COEUR D'ALENE, ID / ACCESSWIRE / April 14, 2021 / New Jersey Mining Company (OTCQB:NJMC) ("NJMC" or the "Company") today provided an update on its preliminary o
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, ID / ACCESSWIRE / April 14, 2021 / New Jersey Mining Company (OTCQB:NJMC) (\"NJMC\" or the \"Company\") today provided an update on its preliminary operating results for the quarter ending March 31, 2021. NJMC CEO and President, John Swallow stated, \"The first quarter is typically met with a combination of challenging weather and ‘go to work in the dark, work in the dark, leave for home in the dark' schedules. That being said, kudos goes out to the guys at the mine and the mill as production definitely trended upward, with March being one of the best production months in company history! Additionally, exploration in support of operations progressed nicely and as discussed below, some of the highest gold assays we've ever seen recently came from the pit. We also announced high-grade exploration drill results in the Joe Dandy and Paymaster in the quarter.\" First Quarter Operating Highlights include: Milling Operation A total of 10,118 dry metric tonnes (dmt) were processed during the first quarter of 2021, which is 1.4% more than the first quarter of 2020. Mill feed grades improved from 3.24 grams per tonne (gpt) in 2020 to 3.62 gpt gold in the first quarter of 2021, indicating an increase in gold production. It is significant that the mill tonnage did not drop off considering one week of operating time was lost due to power outages (at the mine and the mill) from a severe windstorm in mid-January 2021. Open Pit Mining Mining continued through the Klondike area as historic stopes were encountered that reduced the ore tonnage modeled. However, a narrow, high-grade footwall vein with abundant visible gold (672 gpt gold over 20 centimeters) was encountered in the Klondike pit, as briefly discussed in our previous press release (March 31, 2021). Subsequent to that discovery, the next bench was then drilled and a blasthole intercept of 105 gpt Au in a three-meter vertical blasthole was found in the same area. It appears that some of this vein was mined by the old-timers, however, the Company is planning to study this occurrence as it may have positive implications for future exploration targeting of high-grade footwall veins. Underground Mining 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...