New Jersey Mining Company - Important Discovery at Golden Chest.KELLOGG, Idaho Kellogg is a city in the Silver Valley of Shoshone County, a part of the Idaho Panhandle in the United States. The city lies near the Coeur d'Alene National Forest and about 36 miles (58 km) east-southeast of Coeur d'Alene along Interstate 90. -- New Jersey Mining Company (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NJMC NJMC New Jersey Meadowlands Commission ) is pleased to announce that its recently completed deep drilling program at the Golden Chest mine near Murray, Idaho has encountered a high grade gold vein intercept intercept in mathematical terms the points at which a curve cuts the two axes of a graph. . The best vein intercept was from hole DDH DDH Decision Diffie-Hellman DDH Developmental Dysplasia of Hip DDH Dorothy Day House DDH Document Drafting Handbook DDH Dublin Dental Hospital DDH Destroyer-Carrying Helicopter DDH Dissociated Double Hypertropia 04-6 which cut 17.6 meters (57.7 feet) that assayed 4.83 grams per ton (gpt) gold which included 5.9 meters that assayed 10.13 gpt gold. Four veins were intercepted by this drill hole over a 17.6 meter length. NJMC recently completed a four hole core drilling program at the Golden Chest that was designed to test the deeper potential of the property. This year's exploration program was successful in demonstrating that potential. The vein intercept in hole DDH04-6 is approximately 480 meters southeast of the Katie-Dora ramp where NJMC discovered a high-grade gold shoot earlier this summer. Exploration results indicate that a good chunk of ground between the ramp and DDH04-6 should be explored at depth. Significance of Discovery The vein intercepted by DDH04-6 is interpreted to be the Idaho vein which was drilled by Newmont at higher elevations, but the grade was usually less than 2 grams per tonne. NJMC's drill intercept is deeper than Newmont's deepest hole. Our drill hole indicates that the gold grade of the Idaho vein may be increasing with depth or a higher grade shoot has been discovered. Additionally, the large mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zone (11 meters of true thickness) implies that the volume of gold resources could add up quickly with more drilling. "This discovery raises the probability of developing sufficient resources to support a larger (up to 500,000 tonnes/year) underground mine. In addition, recent open pit mine design work has indicated that some of the shallow resources drilled by Newmont could be mined in conjunction with a larger underground mine," stated Fred Brackebusch, President of the Company. More exploration drilling will be required to evaluate the Idaho vein at depth. If drilling is successful in expanding the high grade zone, then a relatively short exploration ramp of about 300 meters in length could be driven to the vein from the valley bottom.. Significant drill intercepts are summarized in the table below:
Hole ID From To Intercept Gold Grade
(meters) (meters) (meters) --------------------------
Grams per Ounces
Metric Tonne per Ton
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04-6 175.9 193.4 17.5 4.83 0.141
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04-6 187.0 192.8 5.8 10.13 0.296
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In other drilling, drill hole DDH04-4 was a shallow hole drilled to verify the Katie-Dora vein in the ramp area which it did. Drill holes DDH04-5 and DDH04-7 drilled through the geologic structure that hosts the Katie-Dora vein and were mineralized with gold. New Jersey Mining Company is involved in exploring for and developing gold, silver and base metal ore resources in the Coeur d'Alene Coeur d'Alene, city, United States Coeur d'Alene (kûrdəlān`), city (1990 pop. 24,563), seat of Kootenai co., N Idaho, near the Wash. line; inc. 1907. Mining District of northern Idaho. The Company has a portfolio of mineral properties in the Coeur d'Alene Mining District including the New Jersey mine, the Silver Strand Silver Strand is a name used for some beaches:
tr.v. scotched, scotch·ing, scotch·es 1. To put an abrupt end to: The prime minister scotched the rumors of her illness with a public appearance. 2. Thistle thistle, popular name for many spiny and usually weedy plants, but especially applied to members of the family Asteraceae (aster family) that have spiny leaves and often showy heads of purple, rose, white, or yellow flowers followed by thistledown seeds (a favorite project. This release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable but which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company's periodic filings with the Securities and Exchange Commission, including its annual report on Form 10-KSB for the year ended December 31, 2003. Further information about New Jersey Mining Company can be reviewed on the website of the Securities and Exchange Commission at www.sec.gov or on the company's website at www.newjerseymining.com |
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