GEMXX (OTC: GEMZ), a leader in the Ammolite gemstone mine-to-market segment, is reporting the successful completion of its first clean-out and recording of gold production at the Snow Creek Mine site for the 2023 mining season. GEMXX is working in collaboration with Crazy Horse Mining Inc. (“CHMI”) on the Snow Creek Mine project. According to the announcement, the two companies have processed a 4,500-cubic-yard sample of gold-bearing surface ore stockpiled while building the processing site, thereby providing a “positive indication of the resource potential on the property.” The company noted that initial production results, which have yielded 38.73 ounces of gold from 4,500 cubic yards of surface material, amounting to 0.86 ounces per 100 cubic yards, exceeded expectations and are indicative of a highly lucrative first year of gold mining.
The company now anticipates ramping up processing to approximately 1,000 cubic yards of gold-bearing ore per day. A Canadian Junior resource company, Crazy Horse Mining operates mining properties in British Columbia, Canada. The company’s principal Canadian gold exploration assets include the Snow Creek and Rosella Creek projects. Snow Creek consists of 498 acres, with approximately 80% being mineable; the Rosella Creek project covers 240 acres, with an estimated 90% being mineable. Three initial 100 cubic yard (100 yd3) test runs have been completed on the Snow Creek project, with results of 1.07, 1.08 and 1.12 ounces respectively. “The acquisition of the Snow Creek and Rosella Creek gold asset 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 view the full press release, visit https://ibn.fm/hFCsw
About GEMXX Corporation
GEMXX Corporation is a publicly traded, mine-to-market gemstone, gold and jewelry producer with global reach that owns mining resources, production facilities and operating assets. GEMXX controls each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution. GEMXX is a producer of top-quality finished Ammolite and Ammolite jewelry. The company’s world-class gemstone cutters and jewelry designers are continuously leading the Ammolite industry in new and exciting directions. The company’s management team is made up of the industry’s leading experts with a combined total of 160 years of Ammolite gemstone and jewelry business experience. For more information about this company, please visit www.GEMXX.com.
NOTE TO INVESTORS: The latest news and updates relating to GEMZ are available in the company’s newsroom at https://ibn.fm/GEMZ
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