The Jerome Mine – Highlights
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100% of the Jerome Property acquired on October the 3rd for $2,750,000.00 cash from Coldrock Resources Inc.
The Jerome Mine Site is within the 63 Patented claims, representing 1019 Hectares part of the larger parcel of patented and unpatented claims in the Osway and Huffman Townships situated between Sudbury and Timmins, 35 kilometres West of Highway 144 on Highway 560 then 11 kilometres north on a bush road.
The Jerome Mine a past Gold and Silver producing mine is situated on the South Shore of the main NNW trending peninsula in the Opeepeesway Lake and approximately in the middle of the 8km long block of patented claims
The Jerome Mine operated from 1941 to 1943. During that period of time the production from the mine was 56,878 oz of Gold and 15,105 oz of Silver.
The head grade was 0.182-0.189 oz gold/ton and a total of 335,060 tons of ore were mined from the Main zone
Recoveries were a respectable 90.07% to 92.44% using a cyanide mill and the Merrill - Crowe extraction process.
The Jerome Mine ceased operations in 1945 due to severe manpower shortages created by World War 2.
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There have been 7 drill campaigns conducted on the Jerome Mine Property spanning the period from 1939 to 2004:
- 1939-1945: Jerome Gold Mines, Ltd
- 1974: E.B.Eddy Forest Products, Ltd.
- 1980-1981: Bridgeview Resources,Inc.
- 1982: Osway Explorations, Ltd.
- 1984: Muscocho Explorations, Ltd.
- 1987-1989: Muscocho
- 2004: Osprey Gold Corp
Summary of Resource and Reserve Estimates, Jerome Mine, 1945 to 2004*
| Date | Author | Tons | Grade oz/ton | Cut-off oz/ton | Mining Width (feet) | Gold (oz) | Category | Remarks |
| 1945 | Jerome Mines | 335,000 | 0.19 | 0.13 | not given | 65,550 | Reported at closure, after dilution | |
| 1980 | Prospection Ltd. (Graham) | 335,000 | 0.19 | 0.13 | not given | 65,550 | "mineable" | Review of Jerome Mines data, suported by 1972 Eddy drill program |
| 1983 | Hill Goettler Delaporte | 583,000 | 0.2 | 0.10 | 5.00 | 118,349 | Regarded by DMBW as geological resource rather than mineable | |
| 1984 | For Osway Explorations, by DMBW (Arengi& Bevan) | 343,476 | 0.17 | 0.10 | 5.00 | 58,702 | Prov + Prob | To 500' level. Tonnage factor = 12 cu ft/ton; 10% dilution |
| 380,445 | 0.19 | 0.10 | 5.00 | 72,235 | Prov + Prob | To 800' level. 50% Prov + 50% Prob; 10% dilution | ||
| 417,939 | 0.2 | 0.10 | 5.00 | 84,121 | Prov+Prob+Poss | To 800' level, plus drill indicated possible resource east of workings | ||
| 1984 | Muscocho (Charpentier, McAdam Botsford) | 310,959 | 0.2 | 0.13 | 3.80 | 62,503 | Prob + Poss | |
| 1989 | Muscocho (Millard) | 635,504 | 0.19 | 0.10 | 4.00 | 120,296 | Prob + Poss | As per APEO Guidelines and National Policy 2a; Uncut and undiluted; Main Zone + South Zone. Tonnage factor revised to 11.44 (2.8 g/cm3). To 1100' level. |
| 577,495 | 0.20 | 0.15 | 4.00 | 115,713 | ||||
| 553,259 | 0.2 | 0.13 | 4.00 | 112,898 | ||||
| 2004 | Osprey (Puskas) | 583,068 | 0.2 | not given | not given | 118,362 | "All categories" | After 19 holes (News Release Sept 29, 2004), to 800 foot level |
| not given | not given | not given | not given | 86,269 | "proven/probable" | After 19 holes (Osprey News Release Sept 29, 2004), to 700 foot level. Drilling was nearly all Main Zone. |
* These are historical resource estimates and do not comply with standards of National Instrument 43-101
