Business
New Jersey Mining Company Provides Second Quarter Update on Operations and Corporate Activities
COEUR D'ALENE, ID / ACCESSWIRE / August 14, 2020 / New Jersey Mining Company (OTCQB:NJMC) ("NJMC" or the "Company") today announced its consolidated operating a
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, ID / ACCESSWIRE / August 14, 2020 / New Jersey Mining Company (OTCQB:NJMC) (\"NJMC\" or the \"Company\") today announced its consolidated operating and financial results for the second quarter of 2020. 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, \"As mentioned in our recent President's Letter released on August 4, 2020, the second quarter reflects the completion of the first phase of the Idaho Pit in April and preparation for surface and underground development, drilling, etc. During the quarter we also focused on permitting of the Klondike Pit and layback of the Idaho Pit - and the eventual transition of surface operations to the new Klondike Pit. We recognized the rapidly changing global environment and it is our opinion that the adjustments made during the first half of the year fit nicely into a scenario of higher gold prices, increased production, resource expansion and exposure to the raw materials required of a low-carbon future.\" Highlights during the second quarter of 2020 include: For the quarter ending June 30, 2020 a total of 9,700 dry metric tonnes (dmt) were processed at the Company's New Jersey mill at a head grade of 2.96 grams gold per tonne (gpt) with gold recovery of 85.5%. Gold sales for the quarter were 844 ounces. Open pit mining progressed from the 976 bench to the 964 bench. Open pit mine production averaged 1,490 tonnes per day (mineralized material and waste). Mining was focused on the completion of the Idaho pit and preparation tasks such as land clearing and topsoil stockpiling were commenced for a new layback of the Idaho pit and start of the Klondike pit. Effort was expended for the maintenance and improvement of sediment control structures (BMPs) around the mine site. Significant engineering time was also spent working with state regulators on the permitting of the new surface mining areas. NJMC personnel also began the construction of a new shop building at the mine. Underground mining focused on the 845 and 836 levels with significant effort spent backfilling the 836 North stope. Development of the new 877 Stope access ramp...