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New Jersey Mining Company Trenching Results Support Pursuit of Second Open Pit at Its Golden Chest Mine
COEUR D'ALENE, Idaho, Feb. 05, 2018 (GLOBE NEWSWIRE) -- New Jersey Mining Company (OTCQB:NJMC) (“NJMC” or the “Company”) today announced results from its recent
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, Idaho, Feb. 05, 2018 (GLOBE NEWSWIRE) -- New Jersey Mining Company (OTCQB:NJMC) (“NJMC” or the “Company”) today announced results from its recent exploration trenching program at its Golden Chest Mine in Northern Idaho. The Company completed 14 trenches, totaling 653 meters, which were designed to test for near-surface, open-pittable gold mineralization in areas where the Idaho Fault and its associated vein set project to the surface. Trenches were completed in three target areas: the area just north of the currently producing Golden Chest pit, and within the Klondike Ridge and Katie-Dora ore shoots. At the Golden Chest pit, trenching successfully uncovered the Idaho Vein and the Stevens Split Vein with resulting assays of 9.2 grams per tonne (gpt) gold over 3 meters and 7.6 gpt gold over 3 meters, respectively - supporting the possible expansion of the Golden Chest pit by more than 30 meters to the north. The Company will continue to evaluate the possibility of expansion as the pit is advanced. Past drilling has demonstrated that the Idaho Fault and its associated vein set exit the Golden Chest Ore Shoot just north of the current open pit, leading to an area of weaker mineralization before the vein set enters the next ore shoot to the north, the Klondike. The trenching program sought to more precisely define the northern boundary of the Golden Chest Ore Shoot and to test the viability of developing a second pit near Klondike Ridge, about 370 meters north of the current operations, along the Idaho Fault. NJMC CEO and President John Swallow commented, “The collective experience of Grant, Rob and John Etienne (NJMC Senior Geologist) exploring, developing, and producing gold from the Golden Chest property continue to validate our approach at the Golden Chest as we assess the potential for expanding our operations and strategically building a land position throughout the Murray Gold Belt. Concurrent with our expansion efforts at the Golden Chest, Del has been leading efforts to augment our Central Idaho holdings as part of our continued focus on historic past producing mining districts in Idaho and Montana.” Trenching assay results and a short drill program provided the other major highlights of the 2017 program. Six exploration trenches exposed gold-quartz veins at surface that returned high-grade assays with ...