VANCOUVER, Sept. 26, 2012 /CNW/ - Northern Vertex Mining Corp. (TSX.V:NEE) (OTCQX:NHVCF) ("Northern
Vertex") is pleased to announce plans to commence a resource definition drill
program to expand the parameters of a potential starter pit at the Moss
Gold-Silver Project in Arizona. The program will focus on two central
hills on patented (private) ground within the property where
mineralization is exposed at surface. Drilling is designed to assist
Northern Vertex's technical team in the preliminary design and modeling
of a starter pit in the central area of the mineralized gold-silver
corridor. The drill program is also specifically targeted to convert a
substantial portion of the NI 43-101 resources situated in close
proximity to this area, from the Inferred category into the Measured
and Indicated category.
States Chief Geologist, Dr. Bob Thompson PhD, PEng. "Our goal of advancing Moss into a near-term precious metal producer is
clearly coming into focus. The upcoming closely-spaced drill program
will enable us to optimize our initial pit design, and expand our
established 956,800-ounce Measured and Indicated gold-silver resource.
The extensive development of the gold-silver bearing stockwork system
in this region of the property, makes this an ideal target location to
pursue the initial pilot phase of our planned, multi-phase commercial
development of the Moss gold-silver resource."
Previous underground sampling of a cross-cut in hill #2 yielded a width of 24 Meters Averaging 4.9 gpt Gold Equivalent including 9.14
Meters of 10.83 gpt Gold Equivalent Grade (see NR Aug 16, 2012). The
current drill hole spacing on hill #1 is sufficiently close that cross
sections and pit bench plans can be constructed. Through the upcoming
drill program, the proposed drill hole spacing on hill #2 is expected
to allow for similar cross sections and pit bench plans. A versatile, track-mounted, hydraulic- percussion rig, capable of
operating on the hillsides, will be used to drill closely spaced holes
to provide sufficient data for mine design and mine planning purposes.
A mine plan and mine design is a prerequisite for the submission of an
application to the Arizona Dept. of Environmental Quality (AZ DEQ) for
an Aquifer Protection Permit (APP). The upcoming drill program on Moss
is expected to allow Northern Vertex to construct a mine plan and mine
design as required by APP.
The Company reports it is currently finalizing drill contracts for the
estimated 5,000 meter, multi-hole, upcoming definition drill program on
Moss. Drilling is expected to commence in the first week of October
The company recently (see NR Sept 10, 2012) announced an up-dated
mineral resource estimate prepared by Scott E. Wilson consulting Inc.
of Denver, Colorado as follows:
Scott E. Wilson Consulting Inc. Summarized Updated Resource Estimate:
Reported at 0.3 gpt Au Cutoff
* Gold equivalency is based on a silver:gold ratio of 50:1 and assumes
100% recovery of all metals.
* Mineral Resources are not Mineral Reserves and do not have
demonstrated economic viability. There is no certainty that all or any
part of the Mineral Resources estimated will be converted into Mineral
* Mineral resource tonnage and contained metal have been rounded to
reflect the accuracy of the estimate, and numbers may not add due to
rounding. * Resources were based on 28,871 m of drilling in 330
exploration drill holes and 590 meters of channel sampling from surface
and underground trenches and cross-cuts. There were a total of 5,872
drill composite samples and 269 rock channel samples used in the
estimation of gold and silver. SEWC used Inverse Power Distance (ID3)
as the preferred estimation technique for the Moss Project.
The foregoing geological disclosure has also been reviewed and verified
by Northern Vertex's Chief Geologist, Dr. Bob Thompson PhD, PEng (a
qualified person for the purpose of National Instrument 43-101,
Standards of Disclosure for Mineral Projects).
Northern Vertex has the right to earn a 70% interest in the historic
Moss Gold-Silver Property located in Mohave County, Arizona from
Patriot Gold Corp. Subsequent to the Northern Vertex earn-in, financing
of the project will be on a proportional basis.
For full QC/QA procedures please visit: www.northernvertex.com/QCQA.html. For complete drill results and estimates please visit: www.northernvertex.com/i//pdf/Moss_Drillresults.pdf
About Northern Vertex: Northern Vertex is a gold exploration and development company operating
principally in the United States and Canada. The Company comprises an
experienced management group with a strong background in all aspects of
acquisition, exploration, development and financing of precious metal
mining projects. The Company's stated mandate is to acquire, develop
and advance gold projects that demonstrate near term production
potential and long-term sustainable growth.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth Berry", President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release.
Cautionary Note to US Investors: This news release may contain information about adjacent properties on
which we have no right to explore or mine. We advise U.S. investors
that the SEC's mining guidelines strictly prohibit information of this
type in documents filed with the SEC. U.S. investors are cautioned that
mineral deposits on adjacent properties are not indicative of mineral
deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated
in such statements.
SOURCE: Northern Vertex Inc.
For further information:
please visit www.northernvertex.com
or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798.