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KELLOGG, IDAHO. Kellogg, Idaho. New Jersey
Mining Company has received results of geologic studies conducted
at the University of Alberta which indicate that the quartz-gold
veins on its property have deep-seated potential. The highly
productive silver and base metal veins in the Coeur d'Alene
Mining District were formed by circulating hot water solutions
at mesothermal or medium temperature conditions. The veins
are characteristically deep-seated. Ore shoots have been followed
from the surface to thousands of feet in depth at several
historic mines. The Coleman vein at the New Jersey mine is
one of the few quartz-gold veins in the district.
Recently completed fluid inclusion studies are quite important
to assessing the potential of the Coleman vein. Fluid inclusions
are trapped remnants of the hydrothermal fluids which formed
the vein. Fluid inclusions or bubbles are trapped inside quartz
crystals. The fluid inclusions are almost identical to silver/lead/zinc
veins in the district. However, the carbon dioxide concentration
is more concentrated in the Coleman vein inclusions, which
is typical for gold mesothermal vein deposits in California
and the Canadian Cordillera. The fluids which formed the Coleman
vein were in isotopic equilibrium with the host metasediments
at approximately 300-350oC, which is typical for all productive
vein types in the Coeur d'Alene Mining District and for most
quartz-gold mesothermal vein deposits world wide. The Coleman
vein fluid geochemistry differs from the main stage quartz-siderite-sulfide
veins of the District by its low salinity, nearly pure carbon
dioxide saturated fluids, and specific chemical signature.
The significance of these fluid inclusion studies is that
ore shoots found in the Coleman vein will likely have great
vertical extent, perhaps thousands of feet, because chemical
conditions would have been relatively uniform over vertical
intervals of thousands of feet. Structural conditions, such
as changes in the dip of the vein, and rock types would play
significant roles in forming ore shoots. The Coleman vein
cuts lower Prichard formation located near the axis of the
Moon Creek anticline and thus is in a favorable structural
environment. The shape of the Coleman vein is complicated
with changes in direction and dip, and branching veins occur.
Ore deposits are associated with structural complexity in
the District.
Managment thinks that this fluid inclusion study indicates
that the Coleman vein has high potential for discovery of
additional gold-bearing ore and that ore shoots located will
have significant tonnage potential.
New Jersey Mining Company is developing the New Jersey mine
in the Coeur d'Alene Mining District of North Idaho. To-date
significant gold resources have been identified. Operating
permits have been obtained and a mineral processing plant
is under construction. New Jersey also owns part of the CAMP
area, a silver prospective area near the Coeur and Galena
mines.
Disclaimer: This press release may contain
forward-looking statements within the meaning of Section 27A
of the Securities Act and Section 21E of the Exchange Act. Forward-looking
statements are inherently subject to risks and uncertainties,
many of which cannot be predicted with accuracy, and some of
which might not even be anticipated. |