VANCOUVER, April 30, 2012 /CNW/ - Northern Vertex Mining Corp. (TSX.V:NEE) (OTCQX:NHVCF) is pleased to announce results from core holes 11 through 17 as part of its Phase II, 20,000 foot (6500 meter) in-fill drill and resource expansion program to test the western extension of the Moss Gold-Silver Project's stockwork vein system in Mohave County, Northwestern Arizona.
States Northern Vertex Chief Geologist Dr. Bob Thompson, "We are very pleased with current drill results that demonstrate the gold and silver-bearing epithermal system continues to broaden westward, extending an additional 1000 feet from our existing NI 43-101 gold resource. Equally encouraging, the higher-grade zones encountered, occur within a series of thick mineralized intersections that continue to average above internal cut-off grades, remaining open to the west and at depth. Importantly, as we continue our resource expansion to the west, we are encountering the same type of higher-grade zones and consistent internal gold distribution that was instrumental in developing our initial NI 43-101 gold resource."
To date, the Company has reported on 35 holes of its Phase II in-fill drill and resource expansion program to test the western extension of the Moss Gold-Silver Project. Included in the total are 18 RC (reverse circulation) drill holes and 17 diamond drill (core) holes. Phase II drilling on the western extension is now complete and results for the remaining six holes of the program are expected in the near future.
|Hole||Intvl||AuEq¹||From||To||Au||Ag||True Width²||Intvl||AuEq¹||True Width²|
¹ AuEq (gpt) = Au (gpt) + 1/40 x Ag (gpt)
² True Width estimated using 70 degree dip to zones of mineralization
opt = troy ounces / short ton (2000 lbs)
gpt = grams / metric tonne (1000 kg)
The geological disclosure in this press release has been reviewed and verified by Northern Vertex's Chief Geologist, Dr. Bob Thompson, PhD (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects).
All analyses were performed by Inspectorate America, Reno, using industry standard protocols. For full QC/QA procedures please visit www.northernvertex.com/QCQA.html
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 project will be on a proportional basis.
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
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.
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