NetworkNewsBreaks – GEMXX Corporation (GEMZ) Mob
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Posted On: 08/03/2023 4:04:57 PM
NetworkNewsBreaks – GEMXX Corporation (GEMZ) Mobilizes Mining Equipment to Canada-Based Snow Creek Mine
GEMXX (OTC: GEMZ), a leader in the Ammolite gemstone mine-to-market space, has mobilized equipment to its Snow Creek Mine site for the mining season. The move, which brings the property to full production, was made in association with Crazy Horse Mining Inc. (“CHMI”), which GEMXX has partial ownership in. According to the announcement, site preparation has been taking place in the Snow Creek mine area, including preparing access roads and pads for equipment and ponds. Now that equipment has been moved to the site, the company anticipates processing 1,000 cubic yards of gold bearing ore per day. GEMXX and CHMI will share costs and gold produced from the project. GEMXX has acquired 50% of CHMI, including the Snow Creek and Rosella Creek projects, principal Canadian gold exploration assets located in British Columbia. The Snow Creek project features well-defined mineral resources with a 0.94:1 overburden to pay ore ratio. GEMXX and CHMI will share costs and gold produced from the project. “The acquisition of the Snow Creek and Rosella Creek gold asset portfolio enhances the company’s long-term asset expansion plan and helps to derisk revenues, but most importantly, it complements our Ammolite production with the world’s most sought-after commodity,” said GEMXX CEO Jay Maull in the press release. “This will provide GEMXX with a significant reduction in the cost of goods for our entire gold jewelry product line and will bring the company one step closer to our goal of becoming vertically integrated. To date, there have been 33 test holes drilled and three separate 100-cubic yard bulk tests. From our initial testing, indications are that the properties could yield over 100,000 ounces of easily recoverable gold, which will be verified by an S-K 1300 compliant resource report this summer.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
GEMXX (OTC: GEMZ), a leader in the Ammolite gemstone mine-to-market space, has mobilized equipment to its Snow Creek Mine site for the mining season. The move, which brings the property to full production, was made in association with Crazy Horse Mining Inc. (“CHMI”), which GEMXX has partial ownership in. According to the announcement, site preparation has been taking place in the Snow Creek mine area, including preparing access roads and pads for equipment and ponds. Now that equipment has been moved to the site, the company anticipates processing 1,000 cubic yards of gold bearing ore per day. GEMXX and CHMI will share costs and gold produced from the project. GEMXX has acquired 50% of CHMI, including the Snow Creek and Rosella Creek projects, principal Canadian gold exploration assets located in British Columbia. The Snow Creek project features well-defined mineral resources with a 0.94:1 overburden to pay ore ratio. GEMXX and CHMI will share costs and gold produced from the project. “The acquisition of the Snow Creek and Rosella Creek gold asset portfolio enhances the company’s long-term asset expansion plan and helps to derisk revenues, but most importantly, it complements our Ammolite production with the world’s most sought-after commodity,” said GEMXX CEO Jay Maull in the press release. “This will provide GEMXX with a significant reduction in the cost of goods for our entire gold jewelry product line and will bring the company one step closer to our goal of becoming vertically integrated. To date, there have been 33 test holes drilled and three separate 100-cubic yard bulk tests. From our initial testing, indications are that the properties could yield over 100,000 ounces of easily recoverable gold, which will be verified by an S-K 1300 compliant resource report this summer.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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