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New Jersey Mining Company
Summary
| Project: | Golden Chest | |
|---|---|---|
| Deposit: | Golden Chest | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 1/31/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 31-1-2019: New Jersey Mining Company announces an Exploration/Drilling Update report for its Golden Chest deposit at the Golden Chest project. Drilling results incl. 33.6m @ 1.0g/t Au from 40.7m. COEUR D'ALENE, Idaho, Jan. 31, 2019 -- New Jersey Mining Co | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Robert Morgan (Internal) | |
| ABSTRACT: | COEUR D'ALENE, Idaho, Jan. 31, 2019 -- New Jersey Mining Company (CSE/OTCQB:NJMC) (“NJMC” or the “Company”) announced today that recent core drilling intercepted a large interval of potentially bulk-mineable gold mineralization adjacent to the open pit. Informally referred to as the “layback” hole, core drill hole GC 18-175 was recently completed to 96.1 meters. With the open pit previously drilled on 25-meter centers, the layback hole was designed to fill in a gap in previous core drilling to evaluate the potential for pit expansion to the north. Rob Morgan, NJMC VP of Exploration, stated, “The layback drill results show a remarkable pervasiveness and consistency of low-grade gold mineralization, perfect for bulk-mineable, open pit mining. This demonstrates the potential for open pit expansion – just as the structural characteristics and narrower, high-grade mineralization in the Paymaster holes announced last week are supportive of future underground mining in that area.” The layback hole had a run of continuous sampling starting at 40.7 meters, in which 32 of the 34 samples contained anomalous gold. The drilling successfully encountered the Idaho Fault at 62.5 meters and banded, massive and brecciated quartz veins were found in the favorable quartzite host rock in the first 10 meters below the fault. Galena and visible gold were both seen in the core. | |
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