New Jersey Mining Co. recently sold its Toboggan project to a subsidiary of Hecla Mining Co. for $3 million.
The Toboggan property includes the surface rights to the Little Baldy patented claims and 106 unpatented mining claims within the Murray Gold Belt in North Idaho.
The property is 3 miles north of New Jersey Mining’s Golden Chest Mine, which is producing gold from open pit and underground operations.
Hecla also participated in a private placement, purchasing $500,000 of restricted NJMC common stock.
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