Idaho-based New Jersey Mining Company (OTCQB: NJMC) this morning reported its discovery of a new footwall vein (the “Stevens Vein”). Pit excavation revealed three veins in the pit area: a hanging wall vein thought to be the Jumbo vein, the Idaho vein, and the Stevens Vein. On the 1096 bench, trench sampling has shown the Stevens Vein and the Idaho Vein to be at least three meters wide with a grade of 15.2 grams per tonne (gpt) gold, and approximately two meters (true thickness) with a grade of 4.0 gpt gold, respectively. The company also provided an update on open pit operations at its Golden Chest Mine project. Management said it believes the property has “district-scale production potential for the longer term, not only near the recently constructed mine, but in areas of past exploration and historic production.”
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About New Jersey Mining Company
New Jersey Mining Company is headquartered in north Idaho, where it is deploying its mining and milling expertise to build a portfolio of advanced-stage assets with near-term cash flow potential and leverage to higher gold prices. NJMC built and is majority owner and operator of a 360-tonne per day flotation mill and cyanide leach plant. The Company is also 100-percent owner of the Golden Chest Mine project, a historic lode gold producer that was recently expanded, modernized, and operated by a world-class lessee. NJMC also holds a 50-percent interest in the Butte Highlands Gold Project. Ownership interests in a mill and two mines set NJMC apart from other junior resource companies. These assets were developed with more than $50-million of investment dollars from New Jersey and other companies. Management owns more than 15-percent of NJMC stock and has participated in prior financings and made purchases in the open market. For more information visit www.newjerseymining.com
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