VANCOUVER, May 21, 2020 /CNW/ - Northern Vertex Mining Corp. (TSX.V: NEE) (OTC Nasdaq Intl.: NHVCF) (the "Company" or "Northern Vertex") is pleased to announce that a multi-phase reverse circulation drill program is underway with the sixth hole having recently been completed at the Moss Gold Mine, located in Northwest Arizona.
The program will begin with an initial 6,000 feet of drilling across multiple targets, and results will direct subsequent programs. The immediate focus is on resource expansion, with a priority on adding 'in pit' ounces, followed by near-mine targets immediately to the west of the mine. The follow-up drilling is expected to continue over several months and result in another resource expansion for the Moss Mine.
The program follows the successful 2019 drill program, which resulted in a meaningful increase in gold ounces to the Moss resource (see NEE News Release dated March 17, 2020) and showed that widespread stockwork mineralization continues westward beyond the current limits of the boundary of the open-pit deposit.
Previous Exploration, which included drilling, mapping, sampling, and airborne geophysics conducted on strike with the Moss Mine Pit has identified a mineralized corridor extending for 5.6 kilometers in length. In addition to resource expansion potential in the immediate proximity to the Moss Mine, numerous drill ready mineralized targets exist within the 10,000-acre claim package. The following images demonstrate the upside exploration potential of the Moss Vein Extensions: Long Section of the Moss Vein Extensions and Plan of the Moss Mine.
The foregoing technical information contained in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Minerals Projects) and reviewed on behalf the Company by Mr. Joseph Bardswich, P.Eng., a director of the Company, and a Qualified Person.
About Northern Vertex Mining Corp.
Northern Vertex Mining Corp. is focused on low cost gold and silver production at its 100% owned Moss Mine in NW Arizona. The Company has experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. With operations at the flagship Moss Mine achieving commercial production the Company intends to consolidate additional producing or near-term production gold assets within the Western US. Through mergers and acquisitions Northern Vertex's corporate goal is to become a mid-tier gold producer with over 200,000 ounces of gold production annually.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
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.
Cautionary Note Regarding 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 scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. 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. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. 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