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NJMC adds to Murray Gold Belt portfolio

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Global Mining Review,

New Jersey Mining Company (NJMC) announced that it has added to its Murray Gold Belt portfolio by staking the Giant Ledge Claim Group (Giant Ledge), located southeast of the Golden Chest mine. The Giant Ledge project consists of 37 unpatented claims and covers the historic Giant Ledge and Raven mines.

The Giant Ledge Mining Company was active between the years of 1917 to 1926. According to historical records, the main working was a 122 m shaft with over 685 m of drifts, raises, winzes and stopes near the bottom of the shaft. The reported target of the underground development was mineralisation related to the French Gulch Fault, which forms a contact between Proterozoic Prichard Formation and a monzonite intrusive. Historical geologic reports describe the mineralisation as structurally controlled veins and disseminations, including galena, pyrite, chalcopyrite and gold in fractures within silicified Prichard Formation; and within the monzonite intrusive as pyrite, chalcopyrite, galena, tetrahedrite and gold in sheared seams. Exploration work completed by Sunshine Mining Company between 1982 and 1989, collected 88 soil samples on 13 lines and completed a magnetic survey totalling 2408 m in 1984, a diamond drilling programme completed two core holes totalling 210.6 m. Both holes intersected the French Gulch Fault Zone and its related mineralisation. These efforts roughly indicated a gold target.

NJMC first prospected the area in 2008 after recognising lead isotope data from the Giant Ledge was very similar to those from the Golden Chest and Toboggan properties. Assessment of the area began with mapping and soil sampling, followed by magnetic and VLF geophysical surveys. Additionally, NJMC acquired the 1984 Sunshine core and relogged/resampled for gold and 48 other elements. This work displayed the mineralised zone was intersected in the two Sunshine drill holes from 1984. Furthermore, this work has revealed a gold anomaly approximately 500 m dia. located in the intrusive adjacent to the French Gulch Fault.

NJMC’s current claim block also covers the historic Raven mine (430 m of underground workings), which shows gold mineralisation may also be related to similar geological settings along the French Gulch Fault.

NJMC VP of Exploration, Rob Morgan commented: “The Giant Ledge/Raven is another strategic land position for us within the Murray Gold Belt. Our initial geological assessment indicates an alkalic gold system associated with a porphyry intrusive. This project has potential to contain bulk mineable base metals, plus gold mineralisation. Both the Giant Ledge and Raven mines are in close proximity to the Golden Chest and will be the subject of future work by the company.”

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