In partnership with Crazy Horse Mining, Inc. (CHMI), GEMXX Corporation, a leader in the ammolite gemstone mine-to-market segment and a partner in Canadian gold exploration, recently reported that it has successfully completed its third and final clean-out and recorded gold production at the Snow Creek Mine site for the 2023 mining season.
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At its Snow Creek mine, GEMXX and CHMI have processed 31,200 cubic yards of gold-bearing ore thus far in the 2023 test season. The production yield of 0.929 ounces per 100 cubic yards has exceeded all expectations. This is a good figure given that a large portion of the materials employed in the test program were surface “gold bearing ore” that was piled up during the construction of the test site’s roads, ponds, and pads.
We are extremely pleased that the commercial production from the Snow Creek mine has met our expectations, and proven the project is definitely worth scaling up in 2024.
Ian McClintock, President, Crazy Horse Mining, Inc.
About 80% of the 498 acres in the Snow Creek project are mineable, whereas the 240 acres in the Rosella Creek project are projected to be 90% mineable. To verify the presence of gold on the neighboring Rosella Creek property in 2024, GEMXX and CHMI are in talks to relocate the test plant from Snow Creek. To fully realize the commercial potential of the Snow Creek location, CMHI and GEMXX are figuring out how big to scale up operations.
Gold production from the Snow Creek mine helps to de-risk revenues, but most importantly, it complements our Ammolite production with the world’s most sought-after commodity. Producing our own gold provides GEMXX with a significant reduction in the cost of goods for our entire gold jewelry product line, bringing the Company one step closer to our goal of becoming vertically integrated.
Jay Maull, Chief Executive Officer, GEMXX Corporation