New Jersey Mining Co.'s Rare Earth Element Projects to Participate in the USGS Mineral Resources Program
New Jersey Mining Company (OTCQB:NJMC) announced a partnership with the U.S. Geologic Survey and Idaho Geologic Survey for the Earth Mapping Resources Initiative. This initiative focuses on geophysical data acquisition in east-central Idaho, an area rich in cobalt and rare earth elements. NJMC's Diamond Creek and Roberts REE projects are included, enhancing the national dataset and advancing critical mineral exploration. NJMC emphasizes the importance of domestic critical minerals for national security and economic stability.
- None.
- None.
COEUR D'ALENE, ID / ACCESSWIRE / July 8, 2021 / New Jersey Mining Company (OTCQB:NJMC) ("NJMC" or the "Company") is pleased to announce it is partnering with the U.S. Geologic Survey (USGS) and Idaho Geologic Survey (IGS) in The Earth Mapping Resources Initiative (Earth MRI) - as part of the USGS Mineral Resources Program. NJMC's Diamond Creek and Roberts Rare Earth Element projects are both included in this exclusive program.
One of the selected high-priority areas chosen for geophysical data acquisition is east-central Idaho. This area is known to host cobalt, rare earth elements and other essential critical minerals. These airborne surveys will be used to map magnetic and radiometric signatures in support of critical mineral research. The inclusion of NJMC's properties will help expand the national dataset as well as helping advance its Diamond Creek and Roberts REE projects.
NJMC President and CEO John Swallow stated, "It is our opinion that this initiative represents a fundamental shift with regard to defining and developing domestic sources of critical minerals in the United States. At NJMC we have long recognized that "saying no to everything" has only stagnated our country's innovation while pushing environmental damage and untenable labor conditions to less developed countries. The Earth MRI is a visible sign that those tasked with our national security have finally acknowledged the gravity of the current situation. We look forward to our projects being part of the stakeholder-oriented and environmentally responsible green future required of all Americans."
The Earth MRI is a national effort to acquire vital geologic information on areas that potentially host critical mineral resources, with initial funding focused on the highest priority regions of the United States. Earth MRI is a collaborative partnership between the USGS, state geological surveys through the Association of American State Geologists, and other Federal, State, and private-sector organizations. The goals of the effort are to improve our understanding of the geologic inventory in the United States and to identify additional areas which have the potential to contain undiscovered critical mineral resources. Enhancement of our domestic mineral supply will decrease our reliance on foreign sources of minerals that are fundamental to the Nation's security and economy.
For more information on Critical Minerals and the Earth MRI go to Earth MRI-Mapping Resources Initiative.pdf and critical minerals review 2021.pdf.Information is also available at the newjerseymining.com, USGS.gov and IGS.gov.
About New Jersey Mining Company
Headquartered in North Idaho, New Jersey Mining Company is the rare example of a vertically integrated, operating junior mining company. NJMC produces gold at the Golden Chest Mine and recently consolidated the Murray Gold Belt (MGB) for the first time in over 100-years. The MGB is an overlooked gold producing region within the Coeur d'Alene Mining District, located north of the prolific Silver Valley. In addition to gold, the Company maintains a presence in the Critical Minerals sector and is focused on identifying and exploring for Critical Minerals (Rare Earth Minerals) important to our country's defensive readiness and a low-carbon future.
New Jersey Mining Company possesses the in-house skillsets of a much larger company while enjoying the flexibility of a smaller and more entrepreneurial corporate structure. Its production-based strategy, by design, provides the flexibility to advance the Murray Gold Belt and/or its Critical Minerals holdings on its own or with a strategic partner in a manner that is consistent with its existing philosophy and culture.
NJMC has established a high-quality, early to advanced-stage asset base in four historic mining districts of Idaho and Montana, which includes the currently producing Golden Chest Mine. Management is stakeholder focused and owns more than 15-percent of NJMC stock.
The Company's common stock trades on the OTC-QB under the symbol "NJMC."
For more information on New Jersey Mining Company go to www.newjerseymining.com or call:
Monique Hayes, Corporate Secretary/Investor Relations
Email: monique@newjerseymining.com
(208) 699-6097
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, the risk critical minerals or Rare Earth Elements will be further defined or identified through the USGS Mineral Resources Program, the mine plan changes due to rising costs or other operational details, an increased risk associated with production activities occurring without completion of a feasibility study of mineral reserves demonstrating economic and technical viability, , environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and the potential impact on revenues from changes in the market price of gold and cash costs, a sustained lower price environment, risks relating to widespread epidemics or pandemic outbreak including the COVID-19 pandemic; the impact of COVID-19 on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, including our ability to access goods and supplies, the ability to transport our products and impacts on employee productivity, the risks in connection with the operations, cash flow and results of the Company relating to the unknown duration and impact of the COVID-19 pandemic 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.
SOURCE: New Jersey Mining Company
View source version on accesswire.com:
https://www.accesswire.com/654695/New-Jersey-Mining-Cos-Rare-Earth-Element-Projects-to-Participate-in-the-USGS-Mineral-Resources-Program
FAQ
What is New Jersey Mining Company's involvement in the Earth Mapping Resources Initiative?
What are the goals of the Earth Mapping Resources Initiative?
Why is the Diamond Creek project significant for NJMC?
How will the partnership with USGS benefit NJMC?
