Northern Vertex Announces Drilling Underway at Moss Gold-Silver Project in Arizona
Dec 19, 2016, 06:00 ET
VANCOUVER, Dec. 19, 2016 /CNW/ - Northern Vertex Mining Corp. (TSX.V: NEE) (the Company") is pleased to announce that drilling is underway at its 100% owned Moss Mine Gold-Silver project located in Mohave County, Arizona. The current 3,000-meter drill campaign, which is running concurrent with the Company's ongoing Moss Mine construction and development program, is the first phase of a multi-phase drill and resource expansion program designed to further expand the Company's existing gold-silver resources.
The Company has identified four high priority targets that will be the focus of the multi-phase drill program on Moss. These include the West Oatman stockwork vein target, the high-grade Old Timer East and West targets and the Western Extension of the main Moss Mine deposit. Current drilling is testing the Western Extension target on the Moss patented claims, where extensive silicification and quartz veining has been mapped along the western projection of the Moss vein system.
Kenneth Berry, President and CEO, stated: "We are excited to proceed with our drill program on Moss and believe that based on merit, each target offers potential to add new gold and silver resources now and into the future. Concurrent with our drill and resource expansion campaign, we remain committed to advancing the Moss Mine project to commercial production at the earliest possible date and we are pleased with the progress we have achieved to date since entering the mine design and development phase."
Key Targets for Planned Drilling and Development
- The Old Timer vein system prospect contains two advanced targets: Old Timer East, a high-grade vein and bulk stockwork-vein target, and Old Timer West, a high-grade vein target lying along the northern projection of the Canyon fault.
- Old Timer East is a broad zone of veins in the hanging wall of the Old Timer vein system and extends approximately 480 meters along strike of the vein. The vein system is 50 to 100 meters wide, with mineralization from 30 to 50 meters wide. Within the zone a core area of closely spaced veins were identified that returned multi-gpt gold assays measuring 250 meters long by 20 to 35 meters wide. The average grade of all samples collected within the core zone is 1.96 gpt gold. Old Timer East presents a walk-up drill target providing easy access. The core zone of the vein system indicates potential both for high-grade veins and a bulk-tonnage stockwork gold silver deposit.
- Old Timer West is a wide calcite vein occupying the northward projection of the Canyon fault, the bounding structure and a possible mineralization control of the strong mineralization at Hill #1 (site of Phase I pit) on the Moss vein. The vein splits into a series of calcite and quartz-calcite veins, which may represent a sigmoid loop in the vein system. Preliminary rock-chip sampling at Old Timer West in 2014 discovered gold mineralization, ranging from 1 gpt gold to 20.26 gpt gold over an area measuring 60 meters E-W by 55 meters N-S. Mapping and additional sampling during the 2016 exploration program expanded the anomalous area to approximately 225 meters north-northwest by 100 meters wide. The target remains open to the north. A re-sample of the 20.26 gpt sample assayed 5.04 gpt gold, confirming strong mineralization. Of 24 samples collected in 2016, 12 samples contained more than 1 gpt and up to 18.6 gpt gold.
- Old Timer East is a broad zone of veins in the hanging wall of the Old Timer vein system and extends approximately 480 meters along strike of the vein. The vein system is 50 to 100 meters wide, with mineralization from 30 to 50 meters wide. Within the zone a core area of closely spaced veins were identified that returned multi-gpt gold assays measuring 250 meters long by 20 to 35 meters wide. The average grade of all samples collected within the core zone is 1.96 gpt gold. Old Timer East presents a walk-up drill target providing easy access. The core zone of the vein system indicates potential both for high-grade veins and a bulk-tonnage stockwork gold silver deposit.
- The West Oatman Vein System is a large area of stockwork quartz-calcite veining and breccia on the south side of Silver Creek, similar to the Moss vein/stockwork system and is a bulk tonnage exploration target. The target area measures 270 meters along strike and from 40 to 80 meters wide in outcrop. True width of the breccia zone is 30-50 meters. The breccia body strikes roughly 290o and dips about 65o to the north. Extensive rock-chip sampling (143 grab and channel samples) collected in 2014 yielded an average value of 0.608 gpt gold with individual samples as high as 7.47 gpt gold. Fieldwork in 2016 consisted of further evaluation of the mineralization and determining access routes and drill sites for the upcoming drill program to evaluate the tonnage potential and grade of the stockwork system.
- The West Extension of the Moss Vein extends for at least 1.5 kilometers west of the westernmost drilling by Vertex. Geologic mapping was conducted to follow-up chip sampling completed in 2011. Rock-chip sampling in 2011 found numerous strong gold anomalies along the vein projection and in hanging wall structures. Reynolds Metals drilled (1991) several vertical holes in the westernmost area and encountered thick sections of anomalous gold (>100 ppb gold) including 0-300 feet in hole 91-6 and 95-335 feet in hole 91-11. Hole, 91-7, contained 98 meters averaging 0.496 gpt gold with an internal zone of 18 meters averaging 0.714 gpt gold. Historic drilling data provides additional evidence for a bulk tonnage target in the western area.
- The Ruth and Rattan veins are parallel to, and south of, the Moss Vein (250 meters south and 375 meters south respectively) and dip northerly at 70o towards the south-dipping (70o) Moss vein. The intersection of the Moss vein with the Ruth vein (at a projected depth of 350 meters) is considered a very favorable target for possible thickening of the Moss mineralization. In 2011, a single condemnation RC hole (AR 136) intersected the Rattan vein at a vertical depth of 33 meters assaying 13.07 gpt gold and 67.0 gpt silver over 1.5 meters (projected 90% true width).
Qualified Person:
The foregoing technical information contained in this news release has been approved by Mr. Bob Cuffney, P.Geo., consultant for Northern Vertex, and a Qualified Person ("QP") for the purpose of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
About Northern Vertex
Northern Vertex Mining Corp. is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold-Silver Property located in NW Arizona, USA. The Moss Mine Gold-Silver Property is a development phase epithermal, brecciated, low sulphidation quartz-calcite vein and stockwork system. The Company's management comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth Berry "
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
SOURCE Northern Vertex Mining Corp.
For further information: please visit www.northernvertex.com or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798
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