Skip to main content

MiningNewsBreaks – GEMXX Corporation (GEMZ) Releases Mining Update Report, Plans to Expand Capacity

GEMXX (OTC: GEMZ), a leader in the ammolite gemstone mine-to-market segment and a partner in Canadian gold-exploration company Crazy Horse Mining Inc. (“CHMI”), is reporting on its current and future mining plans for each of its operations. At Snow Creek, which the company operates in partnership with CHMI, GEMXX has completed gold production, processing a total of 31,200 cubic yards of gold-bearing ore yielding 0.929 ounces per 100 cubic yards. The company is compiling test and mining results and is planning to triple production at the site in 2024. The two companies plan to move the test plant used at Snow Creek to Rosella Creek to prove the property is commercially viable while also completing an S-K 1300 compliant resource report during the 2024 mining season.

At its Yukon Gold property, GEMZZ is focused on completing due diligence and its 50% acquisition of the property by the end of 2023; the review of key reports is moving forward on schedule along with discussions to initiate a pilot mine on the site to confirm gold deposits indicated by reports, which could be between 2,210,660 and as much as 4 million ounces of recoverable gold. As for its ammolite strategy, GEMZZ continues preparations to open an ammolite mine on the company’s south block, with a target date to start in early 2024. The company has secured 75% of mining costs for its ammolite mining and production initiatives and plans to expand its gemstone and jewelry production by 300% in 2024. For the rest of this year and into 2024, GEMXX is committed to expansion and adding shareholder value, which means more acquisitions, more mine production and more revenues. “Opening a profitable mine operation takes a tremendous amount of time and effort to do it right,” said GEMXX CEO Jay Maull in the press release. “As a company interested in creating longevity and shareholder value, we take the time needed to achieve both. We look forward to updating shareholders as each milestone below is met. Everything the company has planned is focused on driving shareholder value.”

To view the full press release, visit https://ibn.fm/fkjGW

About GEMXX Corporation

GEMXX 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 leading 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

About MiningNewsWire

MiningNewsWire (“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled recognition and brand awareness.

MNW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from MiningNewsWire, text “BigHole” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit https://www.MiningNewsWire.com

Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.MiningNewsWire.com/Disclaimer

MiningNewsWire
Los Angeles, CA
www.MiningNewsWire.com
310.299.1717 Office
Editor@MiningNewsWire.com

MiningNewsWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.