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KELLOGG, IDAHO. New Jersey Mining Company
(OTCBB:NJMC) recently completed drilling an exploratory core
hole at its Scotch Thistle prospect near the New Jersey mine
in Kellogg. Drillhole DDH04-3 intercepted 6.6 meters that
assayed 2.56 grams of gold per tonne (gpt) including 0.9 meter
that assayed 13.35 gpt gold.
The Scotch Thistle prospect is located 1 kilometer southeast
of the New Jersey mine in Idaho’s Silver Valley, and
is part of a 430 acre land area held by the Company. A single
core hole was drilled to followup on a gold zone that was
discovered by drilling in 2003. This year’s drilling
was successful in extending the gold zone to the west and
finding higher grade mineralization. Results from this year’s
drilling, especially the higher grade gold vein, are quite
encouraging. More drilling is planned for 2005. Should the
mineralization be continuous on strike and dip, driving an
underground ramp for further exploration and resource definition
may be justified.
Assay results from the drillhole, DDH04-3, are tabulated
below:
|
Hole ID
|
From
(meters)
|
To
(meters)
|
Intercept
(meters)
|
Gold Grade
(grams/m. tonne)
|
Gold Grade
(ounces/ton)
|
|
04-3
|
48.7
|
54.4
|
6.6
|
2.56
|
0.075
|
|
including
|
53.5
|
54.4
|
0.9
|
13.35
|
0.389
|
|
04-3
|
102.4
|
103.6
|
1.2
|
0.76
|
0.022
|
|
04-3
|
111.6
|
112.7
|
1.1
|
1.41
|
0.041
|
|
04-3
|
122.2
|
123.5
|
1.3
|
1.40
|
0.041
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The Scotch Thistle prospect hosts a distinctly different
type of mineralization than the New Jersey or Coleman vein.
While the age and source of gold mineralization may be the
same as the Coleman vein, the presence of economic gold grades
at the Scotch Thistle in thick intervals greatly increases
the exploration potential of the Company’s land package
around the New Jersey mine area-of-interest.
New Jersey Mining Company is involved in exploring for and
developing gold, silver and base metal ore resources in the
Coeur d'Alene 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 mine, the Golden Chest mine, the Lost Eagle project,
the CAMP project and the Scotch Thistle project.
This release contains certain forward-looking statements
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.
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