Open Pit Blasting at Golden Chest
Golden Chest Mine Overview
NJMC is the owner/operator of the Golden Chest Project, located near the small town of Murray in north Idaho. With more than $13 million invested in infrastructure, exploration, and development, the Golden Chest includes both open-pit and underground operations. Gold production is currently ongoing from the open-pit mine and underground mine operations commenced in November 2017.
The Company anticipates production of approximately 15,000-20,000 ounces of gold over the next two years once in full production, with ore from the Golden Chest shipped to the New Jersey Mill for processing. Management believes the Golden Chest property has district-scale production potential for the longer term, not only near the recently constructed mine development but in areas of past exploration and historic production.
NJMC completed an updated NI 43-101 Technical Report in October 2017. The updated technical report includes recent mining activity and a Resource Estimate that includes 4.63-million tonnes grading 1.71 gpt gold (totaling 254,000 ounces of gold) in the Measured and Indicated categories and 3.86-million tonnes grading 1.80 gpt gold (totaling 223,000 ounces of gold) in the Inferred category.