New Jersey Mining Company Intercepts High-Grade Gold Mineralization in the Paymaster Shoot
January 22, 2019 at 08:49 am EST
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New Jersey Mining Company announced that recent core drilling intercepted high-grade gold mineralization in the Paymaster Shoot Late in 2018, New Jersey’s own drill rig conducted a two-hole exploration program in the Paymaster area, targeting the gold-quartz veins associated with the Idaho Fault. Drill hole GC 18-176 was completed to 128.9 meters and GC 18-177 was completed to 150.1 meters with visible gold observed in both holes. All reported intervals are the true thickness of the vein; GC 18-176 returned 39.5 g/t gold over 0.46 meters from a depth of 89.5 meters, and 25.7 g/t gold over 0.55 meters from 124.1 meters and GC 18-177 returned 18.2 g/t gold over 0.53 meters from a depth of 95.8 meters, and 70.3 g/t gold over 0.35 meters from 114.9 meters. Initially recognized through prior exploration core drilling and further defined through in-depth geologic modeling, the Paymaster is one of six identified mineralized shoots that demonstrate strong periodicity in mineable extents along the Idaho Fault. The Paymaster Shoot is the next mineralized area located south of the Skookum Shoot, the site of current surface and underground mining operations. The gold-quartz veins in the Paymaster Shoot were originally identified in 2012 by several exploratory core drill holes, including GC 12-104 through GC 12-107, GC 12-118, GC 12-123 and GC 12-124; however the area has not been further evaluated until recently. The current drill holes, GC 18-176 and GC 18-177, were planned to extend the gold mineralization down dip from vein intercepts encountered in GC 12-106 and GC 12-107. The intercepts in GC 18-176 and GC 18-177 are approximately 20 meters down dip from prior gold intercepts in GC 12-106 and GC 12-107. GC 12-106 returned 8.22 g/t gold over 3.9 meters from 153.4 meters and GC 12-107 returned 12.4 g/t gold over 5.2 meters from a depth of 74.3 meters, and 7.74 g/t gold over 2.5 meters from 107.1 meters.
Idaho Strategic Resources, Inc. is engaged in the business of exploring for, developing, and extracting gold, and to a lesser extent, silver, and base metal mineral resources in the Greater Coeur dâAlene Mining District of North Idaho. It produces gold at the Golden Chest, located in the Murray Gold Belt area of the Coeur dâAlene Mining District, north of the prolific Silver Valley. It conducts its surface and underground mining operations at its 100 % owned Golden Chest Mine and conducts milling operations at its New Jersey Mill. The Golden Chest Mine is the Companyâs only production stage mine and comprises an underground mine, an open pit mine, and an exploration property located about 1.5 miles east of Murray, Idaho and includes 86 patented mining claims (1,322 acres) and 217 unpatented claims. The New Jersey Mill is a fully permitted, 360-tonne per day, flotation mill and concentrate leach plant located two miles east of Kellogg, Idaho, in the Coeur dâAlene Mining District.
IDAHO STRATEGIC RESOURCES, INC. 
