New Jersey Mining Reports Progress On Toboggan Project

KELLOGG, ID - New Jersey Mining Company reported an update on the exploration of its Toboggan project, which now covers over 7,300 acres located north of Murray, Idaho. The Toboggan project is a gold exploration joint venture between New Jersey Mining Company and Newmont North America Exploration Limited, a subsidiary of Newmont Mining Corporation.
Newmont is the operator of the project and has completed its first season of exploration activities, which included geologic mapping, and soil, stream sediment and rock sampling throughout the project area. Soil sampling indicated a gold-in-soil anomaly at the Mineral Ridge prospect measuring about 700 meters long by 200 meters wide. Several other soil sample locations within the project area showed anomalous gold levels and will require follow-up sampling.
Additionally, Newmont completed a ground-based geophysical survey at the Gold Butte prospect and an airborne geophysical survey of the entire 38 square mile joint venture area. The ground geophysical survey utilized the induced polarization (IP) method to help define drill targets. Results of the IP survey show a 200 meter-wide anomalous zone, located along the western edge of the historic mine workings, that coincides with high levels of gold-in-soils and potassic alteration. The joint venture plans to perform core drilling on permitted drill sites next summer to further analyze this zone.
Fred Brackebusch, CEO of New Jersey Mining Company, commented, ``Newmont has diligently pursued the exploration of the Toboggan project in 2008, employing advanced exploration technology in their exploration activities. Much has been learned this season about the geology, geochemistry and geophysical character of the joint venture area. We look forward to next summer's drilling program and its results.''
The company's address is 89 Appleberg Road, P.O. Box 1019, Kellogg, ID 83837, 208-783-1032, fax: 208-783-3331.