VANCOUVER, March 19, 2020 /CNW/ - Northern Vertex Mining Corp. (TSX.V: NEE)(OTC Nasdaq Intl.: NHVCF)(the "Company" or "Northern Vertex") is pleased to announce the receipt by Golden Vertex Corp. (the company's wholly owned Arizona subsidiary) of final federal permitting approval for the Phase III expansion at the Moss Mine. In short, this permitting approval allows the Company to expand its current operations from its patented claims onto its surrounding unpatented claims on federal Bureau of Land Management (BLM) managed public lands. The expansion along with our recently announced resource update (see press release dated March 17, 2020) is expected to significantly extend the life of the Moss Mine.
Mr. Kenneth Berry, President & CEO of Northern Vertex, states "We are very pleased with the Decision Record, which is a tribute to the efforts of our employees to protect the environment and ensure an efficient, sustainable operation. This decision is of considerable importance to the more than 150 employees and contractors of the Company. I thank our technical team in Arizona, the entire BLM team, and all of our respective advisors and consultants, for their tireless efforts in this process."
"Furthermore, the expansion is a very important milestone for the Company as it is expected to increase efficiencies that will significantly reduce operating costs at the mine. In addition, the expansion also allows for exploration drilling to be carried out in order to expand the current mineral resource and extend the mine life."
On March 18th, 2020, the BLM issued a Decision Record announcing the completion of the environmental review of the expansion at Moss Mine as proposed in the Company's Mine Plan of Operation (MPO) with a Finding of No Significant Impact (FONSI). This review of the proposed mining, processing and exploration operations by the BLM environmental specialists is required by the National Environmental Policy Act (NEPA) whenever public lands are involved. This means that the Environmental Assessment of Moss Mine found that the Environmental Protection Measures incorporated into the Moss Mine expansion plans protect natural resources and habitat and prevent significant impacts to public land.
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
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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