A total of $121,000 was paid in cash at closing and the balance of $879,000 is payable as a 20% net profits royalty.
New Jersey Mining said the sale of the Silver Strand mine is consistent with its strategy to focus on its core assets including the exploration of the Golden Chest mine near Murray, Idaho.
New Jersey Mining is involved in exploring for and developing gold, silver and base metal resources in the Coeur d’Alene Mining District of northern Idaho.
