New Jersey Mining Company Locates Mineral Ridge Gold Property
Posted on: Thursday, 12 July 2007, 12:22 CDT
KELLOGG, Idaho, July 12, 2007 (PRIME NEWSWIRE) -- New Jersey Mining Company (OTCBB:NJMC) is pleased to announce it has located a new gold property named Mineral Ridge, which is located about six kilometers north of the Company's Golden Chest mine. Recent soil and rock outcrop sampling has revealed a widespread area of gold mineralization which prompted the Company to locate nine lode claims.
Soil sampling completed by NJMC's exploration geologist indicates at least two zones of northerly trending gold mineralization. The first zone was sampled on two-meter spacing and shows a zone 44 meters wide with a highly anomalous average gold assay of 0.104 gpt (grams per tonne). It appears from the soil sampling that the zone extends for at least 109 meters along strike. A composite outcrop rock sample collected from this area contained 2.01 gpt gold, while a high-grade grab sample assayed 10.2 gpt gold and 34.8 gpt silver.
The second, more easterly zone was discovered by soil sampling on 10 meter intervals and shows another highly anomalous zone 45 meters wide averaging 0.128 gpt gold. The soil anomaly appears to extend along strike for at least 133 meters. About 470 meters to the south of the soil sampling lines, grab samples of altered and mineralized rock contained from 0.268 to 3.69 gpt gold and up to 19.6 gpt silver.
"New Jersey Mining Company has a highly prospective land position around the Murray area where our exploration results are showing the potential for a large new gold district. We have staked or acquired eight different properties in the area, and the Golden Chest and Niagara have significant metal resources," commented company president Fred Brackebusch.
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 Idaho. The Company has a portfolio of mineral properties in the Coeur d'Alene Mining District including the Niagara copper-silver deposit, the Golden Chest mine, the New Jersey mine, the Silver Strand mine, and several exciting exploration prospects.
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, 2006.
Further information about New Jersey Mining Company and its properties can be found at the company's website at www.newjerseymining.com or reviewed on the website of the Securities and Exchange Commission at www.sec.gov.
This news release was distributed by PrimeNewswire, www.primenewswire.com
CONTACT: New Jersey Mining Company Grant Brackebusch, Vice President (208) 783-1032 ir@newjerseymining.com www.newjerseymining.com
Source: PrimeNewswire
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