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PR 03-05-21 wow YUGH read my friend  'New Jersey Mining Co. (NJMC)' & possible spinoff !!!!!


New Jersey Mining Company Evaluates Potential for 20,000 Oz/Year Gold Production at Golden Chest Mine & Possible Spin-out of Rare Earths Subsidiary to its Shareholders

COEUR D'ALENE, Idaho, March 5, 2021 (ACCESSWIRE) -- 
New Jersey Mining Company (OTCQB: NJMC) (“NJMC” or the “Company”) 
is pleased to provide a “big picture” update, 

including a preliminary discussion in regard to up-listing to a 
senior exchange in concert with our plans to increase production at 
the Golden Chest Mine and the potential for the spin-out of its rare earth subsidiary to shareholders.


NJMC President and CEO John Swallow stated, 
“As business owners, fellow investors and community stakeholders 
(and substantial NJMC shareholders), 
we believe it is important to understand how or what a person 
(or company) thinks, especially with regard to anticipating and adjusting to the multitude of macro and micro inputs. 

As discussions continue to evolve (and subject to change), 
and as the initial results of our drill program are received, 
we felt that communication from management in regard to the 
various paths being contemplated would be appreciated 
– such as a recap and possible positioning of our Rare Earths subsidiary, 
potential for increased gold production and eventually working toward 
a senior exchange listing.”

CONCEPTUAL PLAN FOR UP TO 20,000 OZ/YR GOLD PRODUCTION AT GOLDEN CHEST
Conceptual Plan – Preliminary Economics

Preliminary internal estimates and the conceptual plans are based 
on firsthand corporate experience with development,
 mining, 
exploration, 
milling and 
other knowledge gained from NJMC operations. 

Budgeting for personnel, 
equipment, and 
underground development have been considered in this evaluation. 

Subject to adjustments, the company is working with preliminary 
AISC estimates in the $1,100/ounce - $1,200/ounce range for gold, 
at a 20,000 ounce/year run rate.

Conceptual Plan – Preliminary Capex

The Company is developing a plan to build a 360 tonne per day (tpd) flotation mill at the Golden Chest Mine in Murray, Idaho 

in order to increase gold production up to 20,000 ounces per year. 

Budgetary cost estimates are made for the major items in this plan including mine development, 
construction of the mill, 
land acquisition, 
resource in-fill drilling at the mine, 
and exploration drilling at the Alder Gulch property ¸ 
two miles west of the mine. 

Current trucking of ore to the existing New Jersey mill is roughly $12/tonne. 

At just 50,000 tonnes per ye