VANCOUVER, Nov. 22, 2017 /CNW/ - Northern Vertex Mining Corp. (TSX.V:NEE) (OTC-Nasdaq Intl.: NHVCF) (the "Company" or "Northern Vertex") announces it has filed on SEDAR its Moss Gold-Silver Project, NI 43-101 Technical Report, Preliminary Economic Analysis, Extended Mine Life, dated as of November 22, 2017 (the "PEA"). The PEA results were previously disclosed in the company's news release dated October 9th, 2017. The PEA sets out the technical and economic viability of extending the Moss mine to include resources onto the Company's adjacent un-patented mining claims. This scenario includes surface disturbance and an expansion of the mine facilities onto federal public lands administered by the Bureau of Land Management (BLM) and would therefore require the submission and approval of a Mine Plan of Operations.
Kenneth Berry, President and CEO, stated: "This PEA is further encouragement of the scalability of production in the initial years as well as the potential longevity of the Moss Gold Mine. Eliminating the patented boundary constraints and increasing production to a peak of 60,000 gold equivalent ounces in year four, the PEA indicates the Moss mine project has the potential to measurably improve the economics stated in the Company's Phase II Feasibility Study published in June, 2015. Management, in consultation with its board of directors, advisors and financial partners will review the merits of implementing this accelerated schedule at the Moss Mine on an expedited basis. To further expand our existing resources, management intends to conduct an aggressive exploration and resource expansion program during the first two years of production."
To view construction progress at the Moss Mine visit https://northernvertex.com/projects/photo-gallery/
The PEA was prepared by a team of independent consultants that included M3 Engineering and Technology of Tucson, AZ (process facility and site infrastructure design and costing), Golder Associates of Tucson, AZ (heap leach pad and waste dump), Mine Development Associates of Reno, NV (mine planning and production scheduling), and CDM Smith of Phoenix, AZ (project permitting). The PEA study team was managed by Dr. David Stone, PE, Project Manager for the Moss Mine Project.
The Company cautions that the PEA is preliminary in nature in that it is includes Inferred Mineral Resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
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 for Disclosure for Minerals Projects) and reviewed on behalf the Company by James McDonald, P.Geo & Director for Northern Vertex, a Qualified Person.
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 Project located in NW Arizona, USA. 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
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.
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.
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. This press release uses the terms "Measured", "Indicated", and "Inferred" resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
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.