Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Fall Before Fed Day
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 20 2018
By: Ira Epstein

Fed Day: Mr. Market Meets Mr. Hyde
By: Stewart Thomson

Bear Stearns – A Different Opinion
By: Theodore Butler

Here’s What Inflation Could Look Like in 2020, Based on Past Surges
By: Jeff Clark

Politics And Investing
By: Axel Merk

Jack Chan's Weekly Precious Metals Update
By: Jack Chan

Does Weiner really know what central bankers think better than they themselves do?
By: Chris Powell

Another look at gold’s true fundamentals
By: Steven Saville

The Crypto Market Conundrum
By: Ryan Wilday


GoldSeek Web

New Jersey Mining Exercises Option, Consolidates Ownership of the Golden Chest Mine

 -- Published: Friday, 4 December 2015 | Print  | Disqus 

COEUR D'ALENE, Idaho, Dec. 04, 2015 (GLOBE NEWSWIRE) -- New Jersey Mining Company (NJMC) (“NJMC” or the “Company”) announced today that it has exercised its Option to Purchase with Marathon Gold Corporation (MOZ.TO) (“Marathon”) and now owns a 100-percent interest in the Golden Chest Mine near Murray, Idaho.

The parties agreed to accelerate completion of the transaction, with NJMC rendering total payments of $180,000 to Marathon for its 52.12-percent interest in Golden Chest LLC, a $20,000 discount to the previously announced terms. Marathon retains a 2-percent net smelter return (NSR) royalty on production from the Golden Chest property, as well as from an adjacent Area of Interest.

NJMC President John Swallow stated, “With this transaction, we have completed the entire purchase well ahead of schedule and are now focused on next steps at the Golden Chest.”

In September 2013, the Skookum Shoot portion of the Golden Chest Mine was leased to Juniper Resources LLC (“Juniper”) which, through its affiliate companies, spent approximately US$7 to US$9-million to develop a state-of-the-art gold mine that began producing ore in late-2014. In September 2015, Juniper ceased mining operations and terminated its lease, forfeiting the remaining mineralized material and mine infrastructure. NJMC processed Golden Chest ore at its New Jersey Mill during the Juniper Lease, earning cash from milling fees and its share of a 2-percent NSR royalty on gold production.

NJMC has initiated a scoping study at the Golden Chest to assess the production readiness of near-mine mineralization, including areas that were included in the Juniper mine plan but were not mined, as well as other accessible, drill-tested areas. NJMC intends to use resulting information to develop a small-scale mining plan, with a production target of 2,000 to 3,000 tons of ore per month.  All future ore production would be processed at the New Jersey Mill.

About New Jersey Mining Company

New Jersey Mining Company is headquartered in north Idaho where it built and is majority-owner and operator of a fully-permitted, recently upgraded, 360-tonne per day flotation mill and concentrate leach plant. The Company is also 100-percent owner of the Golden Chest Mine, an historic lode gold producer that was recently expanded, modernized, and operated by a world-class lessee. Ownership of a mine and mill provide NJMC shareholders solid value and excellent leverage to higher gold prices and exploration success. The Company’s common stock trades on the OTC-QB Market under the symbol “NJMC.”

Forward Looking Statements

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Such statements are based on good faith assumptions that New Jersey Mining Company believes are reasonable but which are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements.

Such factors include, among others, the risk that anticipated production levels are not attained, the risk that the mine plan changes due to rising costs or other operational details, the risk that different portions of the mineral deposit respond differently to processing, the risk that Juniper’s internal engineering studies are incorrect, the risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and a sustained lower price environment, as well as other uncertainties and risk factors. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. NJMC disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.

For more information on New Jersey Mining Company, please contact:

Del Steiner, Chairman & CEO

| Digg This Article
 -- Published: Friday, 4 December 2015 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2017 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of, its affiliates or advertisers. makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.