New Jersey Mining Company Continues Drilling High-Grade Gold-Quartz Veins in Klondike Area
September 23, 2021 at 09:00 AM EDT
COEUR D'ALENE, ID / ACCESSWIRE / September 23, 2021 / New Jersey Mining Company (OTCQB:NJMC) ("NJMC" or the "Company") is excited to announce their latest assay results from the ongoing core drilling program at the Golden Chest mine. These recent gold intercepts lie within the Klondike area and come from drill hole GC 21-205. GC 21-205 is the third diamond drill hole completed in the Klondike to show highly favorable results in what is quickly developing into an extensive mineral system. NJMC will continue with its step-out drilling program in order to define the limits of this new gold resource. All intervals are reported in drill thickness (as vein orientations have yet to be determined) and in grams of gold per tonne (gpt).
It is an important distinction that these intercepts, except the last one, are all located above the Idaho Fault. This is a notable departure from the geological setting at the Golden Chest mine, where most historic gold mineralization is located below the Idaho Fault. The two previous drill holes (GC 21-203 & GC 21-204) as well as GC 21-205 all encountered an exceptionally large, new fault structure in excess of 20 meters wide, which is by far the largest fault ever identified within the Golden Chest mine area. Our new mineralization, with its intensive alteration, develops just below this large fault and represents another key mining target north of the existing underground operations in the Skookum.
GC 21-205, drilled down-dip of GC21-203 & GC21-204, encountered widespread hornfels alteration with intense silica flooding. Hornfels are baked and hardened rocks that result from the heat of igneous masses and indicates that the igneous rocks could be the source of the gold mineralization at the Golden Chest. Additionally, many of the silica-flooded intervals contain thick intervals (>15 m) of low-grade (~ 1 gram) gold values, which are anchored by high-grade, gold-bearing banded quartz veins. Eight of these veins, with widths from 0.1 to 0.5 meters, have impressive gold assays ranging from 22 to 138 gpt Au.
NJMC's Vice President of Exploration, Rob Morgan commented, "All three drill holes in the Klondike area have contained very sizeable intervals of gold mineralization. Our ongoing drilling will continue to plumb the extents and depths of this gold mineralization, which remains open in all directions. The next planned holes will continue to step-out and expand on these exciting results at the Klondike, until we are chased out by snow sometime in November."
About New Jersey Mining Company
New Jersey Mining Company possesses the in-house skillsets of a much larger company while enjoying the flexibility of a smaller and more entrepreneurial corporate structure. Its production-based strategy, by design, provides the flexibility to advance the Murray Gold Belt and/or its Critical Minerals holdings on its own or with a strategic partner in a manner that is consistent with its existing philosophy and culture.
NJMC has established a high-quality, early to advanced-stage asset base in four historic mining districts of Idaho and Montana, which includes the currently producing Golden Chest Mine. Management is stakeholder focused and owns more than 15-percent of NJMC stock.
The Company's common stock trades on the OTC-QB under the symbol "NJMC."
For more information on New Jersey Mining Company go to www.newjerseymining.com or call:
Monique Hayes, Corporate Secretary/Investor Relations
SOURCE: New Jersey Mining Company
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