COEUR D'ALENE, Idaho, Nov. 12, 2014 (GLOBE NEWSWIRE) -- New Jersey Mining Company ("NJMC" or the "Company") (OTC:NJMC) announced today that it has completed commissioning of the new gravity circuit at its New Jersey Mill near Kellogg, Idaho. The commissioning was performed in anticipation of initial ore deliveries from the Golden Chest Mine later this month.
The gravity circuit is comprised of a vibrating screen and a Knelson Concentrator and will be used to process a portion of the recirculating load in the grinding circuit where gold particles tend to accumulate. The gravity circuit operated smoothly, producing a gold concentrate that was further upgraded on a Deister Table. The concentrate will be subject to additional testing via direct smelting or intensive cyanidation to optimize recovery and payable value.
In addition to commissioning the new gravity circuit, the Company also conducted a small milling campaign to tune up the crushing, grinding, flotation, and tailings circuits. The test processed a total of 130 tonnes of material grading approximately 2.5 grams of gold per tonne, which was sourced from the Company's adjacent New Jersey Mine.
Several other initiatives have also been recently completed at the New Jersey Mill in anticipation of processing ore from the Golden Chest Mine, including:
- Completion of a 3-meter embankment raise at the paste tailings storage facility;
- Installation of a new paste thickener underflow pump;
- Installation of a 16-camera system for process monitoring;
- Engineering and design for a new concentrate thickener;
- Construction of a concentrate loading dock; and
- Preliminary engineering to advance mill automation.
The Company commenced safety training for newly-hired mill and crusher operators this week and expects that the mill will be operating at production levels with Golden Chest ore in December. Once at full production of approximately 360 tonnes of ore per day, the mine is expected to feed the New Jersey Mill at a steady state throughout 2015 and into 2016.
Juniper Resources reports that mine development at the Golden Chest is on track to start ore production later this month. Construction of the surface facilities is now complete and underground development has reached the upper portions of the orebody, including the first crosscuts into the hanging wall. The miners are now tying the new ramp into the No. 3 Level of the existing mine workings for use as a ventilation conduit and secondary escapeway.
About New Jersey Mining Company
New Jersey Mining Company (NJMC) is headquartered in northern Idaho where it built and is the majority-owner and operator of a fully-permitted, recently-upgraded, 360-tonne per day flotation mill and concentrate leach plant. As the Company continues to pursue custom milling and small-scale production opportunities, it is ramping up the mill to handle pending ore shipments from the nearby Golden Chest Mine. The Company owns a 47.88-percent interest in the Golden Chest LLC which controls the Golden Chest Mine, a former gold producer with more than 13,000 feet of underground workings. Golden Chest LLC has leased a portion of the Golden Chest Mine to Juniper Resources, with gold production expected to commence imminently.
The Company's common stock trades on the OTC 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.