VANCOUVER, March 15, 2012 /CNW/ - Northern Vertex Mining Corp. (TSX.V: "NEE") ("OTCQX: "NHVCF") is pleased to announce a 10,000 meter in-fill drill and resource confirmation program is underway on its Lemhi Gold Project located 25 miles north of Salmon, Idaho. The first phase drill of drilling is part of a multi-phase program designed to validate and expand upon historic drilling results previously conducted on the Lemhi Gold Project.
Kenneth Berry, Northern Vertex Chief Executive Officer, states, "We are very pleased to get the first phase of drilling underway on Lemhi. Our goal is to apply the same proven resource growth model to Lemhi that we recently utilized on our Moss Project in Arizona that resulted in proving up a substantial NI 43-101 gold-silver resource in less than one year."
Northern Vertex and Idaho State Gold Company, LLC ("ISGC", a private Idaho investment company) entered into joint venture agreements and formed the joint venture entity named Lemhi Gold Trust, LLC ("JV LLC"). JV LLC has consolidated and acquired the Lemhi Property from four underlying vendors. Option for Northern Vertex to increase its Joint Venture Interest to 75.5%: Northern Vertex currently holds a 51% interest in the Lemhi Gold Project and has the right (but not the obligation) to acquire an additional 24.5% interest in the Lemhi Property from ISGC within 24 months of the Closing Date. Northern Vertex is the operator at the Lemhi Property. (See news dated September 21, 2011)
The geological disclosure in this press release has been reviewed and verified by Northern Vertex's Chief Geologist, Dr. Bob Thompson, PhD P.Eng (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects).
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 asset-based gold projects that demonstrate near term production potential and long-term sustainable growth.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
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.
For further information:
please visit www.northernvertex.com
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