The company has reported drill intercepts of 10.8 g/t gold over 7.0 meters in drill hole GC 12-134.
Earlier in May 2012, New Jersey Mining has completed a longer intercept of 4.41 g/t gold over 20.6 meters from a drilling program, of which the present drill hole is a part.
Marathon Gold Corporation and New Jersey Mining jointly own 50% stake each in Golden Chest. The mine is operated by New Jersey Mining.
New Jersey Mining Company president and CEO Fred Brackebusch said, "High grade shoots are being revealed by the drilling program. Presently, drilling is relatively shallow and the mineralization would be amenable to open pit mining, but as the shoots extend down dip they would be the source for underground mining."
