Exploration Plans for Toboggan Project
KELLOGG, ID - New Jersey Mining Company reported preliminary exploration plans for the 2010 field season for the Toboggan Project located near
Gold mineralization is related to northerly-striking structures coincident with a broad anticline in Belt rocks of the
Newmont will be required to spend approximately $750,000 by March 20, 2011, to complete the Phase 1 Earn-In which gives it a 51% interest in the joint venture.
Exploration plans call for the pace of drilling to increase with the utilization of two drill rigs - one reverse-circulation drill and one core drill. Target areas to be drilled include the Gold Butte, Mineral Ridge, and the Progress prospect. Drilling at Gold Butte in 2009 intercepted a pyritic quartz vein along a fault structure at a shallow depth of 24 meters that assayed 2.51 grams per tonne (gpt) gold over 4 meters including a higher grade section of 1 meter of 7.15 gpt gold. This summer’s drilling will target the projection of this vein into a more favorable host rock at depth which is a quartzite unit of the
A better understanding of the geology of the Mineral Ridge prospect from field investigations has led to the location of four drill pads to the south of last year’s drilling. These new drill pads are interpreted to be closer to the main gold-mineralizing structure. The new drill pads will require the building of new roads and the reconstruction of old roads. The timing of drilling is dependent upon the receipt of an approved operating plan from the U.S. Forest Service which is expected in June of this year.
Drilling is also planned for the Progress prospect in 2010. The Progress is a gold-tellurium showing where soil sampling has delineated a zone with anomalous gold-in-soils that is 350 meters long by 80 meters wide. Several historic adits and prospect trenches are present at the Progress and underground sampling by NJMC staff in the northernmost adit revealed a chip sample one meter wide that assayed 12.9 gpt gold, 11.4 gpt silver and 10.6 gpt tellurium. The prospect was discovered and worked in the 1920’s and abandoned during the 1930’s Great Depression when funding for exploration became very difficult. Apparently, the Progress was forgotten and no work has been done on the prospect since the 1930’s.
New Jersey Mining Company is involved in exploring for and developing gold, silver and base metal resources in the Coeur d'Alene Mining District of northern
The company’s address is