Golden Chest Production Expansion Drill Program
COEUR D'ALENE, ID - New Jersey Mining Company (NJMC) reported on its on-going 2021 core drill program at the Golden Chest mine. Most of the drilling targeted exploration and pre-development in areas lying to the north and south of current underground mining operations. The areas of focus include the Joe Dandy and Paymaster located south, and the Klondike located north of existing infrastructure in the Skookum. In the first two months of 2021, a drill contractor and the company's own core rig were employed to expedite exploration efforts in these relatively underexplored areas. By mid-June the New Jersey core rig began drilling 24 hours a day; and continues to do so. As of the end of third quarter NJMC has completed 25 diamond core holes totaling 6,507 meters. Of these 25 core holes, 20 holes have been geologically evaluated and geochemically analyzed, with 5 core holes on deck.
Vice President of Exploration, Rob Morgan, said, "We have enjoyed a very high success rate with our 2021 drill program. Many of the drill intercepts demonstrate thick intervals of gold mineralization that show deep plumbing and predictable horizontal extents, with everything remaining open in all directions. The overwhelming success of our drill program has allowed us to develop preliminary mine plans for two additional portals, one in the south at the Paymaster and one in the north at the Klondike. We plan to keep the core rig in the Klondike area until the snow files in order to complete an additional 2-3 drill holes. Following the Klondike, the core rig will move to lower elevations in the Paymaster and Skookum areas, with our deep winter drilling focused on the Joe Dandy. All information generated from our 2021 core drill program will be used to further develop our geological interpretations and generating future economic targets."