Highlights Include 45 Feet of 1.388 g/t Gold
, 25 feet of 1.488 g/t Gold, and 140 feet of 0.919 g/t Gold
VANCOUVER, Dec. 18, 2019 /CNW/ - Northern Vertex Mining Corp. (TSX.V: NEE) (OTC Nasdaq Intl.: NHVCF) (the "Company" or "Northern Vertex") is pleased to announce the results of 29 holes totaling approximately 14,140 feet from the reverse circulation ("RC") infill drill program (the "Program") recently completed at the Company's Moss Gold Mine, located in Northwest Arizona. The Program was carried out within the western area of the Moss Mine, west of the current mining operations, to upgrade the Inferred resource to M&I, and expand the planned pit to the south and to depth.
Kenneth Berry, President and CEO, states: "We are very pleased with these infill drill results, which compare favorably with strongly mineralized holes previously drilled through the main Moss ore body. Results include intersecting multiple mineralized zones within the Moss vein extension and numerous veins and stockworks in the hanging-wall. Mineralization is wide open to the west with historic drill holes and surface sampling defining a 1.7 kilometer long corridor of gold mineralization including several long intercepts of Moss mine type gold and silver grades. We believe this mineralized corridor is a highly prospective area for expanding mineral resources and reserves at the Moss mine."
Benefits of the completed Program have increased the confidence in our resource modeling, currently underway with a new block model expected mid-January 2020. Drilling will start up again in 2020 as the Company begins to exploit the western area of the Property.
Highlights of the West Pit Drill Program Include:
- Average cumulative thickness for all holes: 162 ft @ 0.642 g/t gold, 7.9 g/t silver
- Several holes drilled thick good grade mineralization from near surface:
- AR 217R 65 ft @ 0.957 g/t gold, 3.0 g/t silver from 5-70 ft
- AR 221R 50 ft @ 1.166 g/t gold, 8.5 g/t silver from 15-65 ft
- AR 222R 25 ft @ 1.488 g/t gold, 4.8 g/t silver from 15-40 ft
- AR 225R 70 ft @ 0.836 g/t gold, 5.3 g/t silver from, 15-85 ft
- AR 228R 75 ft @ 0.918 g/t gold, 3.7 g/t silver from 0-75 ft
- AR 233R 70 ft @ 0.737 g/t gold, 2.3 g/t silver from 0-70 ft
- AR 240R 95 ft @ 1.031 g/t gold, 8.8 g/t silver from 10-105 ft
- AR 242R 110 ft @ 0.535 g/t gold, 6.2 g/t silver from 0-110 ft
- Deep intercepts with significant mineralization drilled beneath current planned pit bottom:
- AR 226R 140 ft @ 0.919 g/t gold, 21.9 g/t silver from 480-620 ft TD – open
- AR 218R 90 ft @ 0.482 g/t gold, 16.3 g/t silver from 330-420 ft
- AR 222R 55 ft @ 0.382 g/t gold, 6.3 g/t silver from 495-500 ft
- AR 223R 145 ft @ 0.485 g/t gold, 8.3 g/t silver from 165-310 ft
- AR 233R 35 ft @ 0.618 g/t gold, 16.0 g/t silver from 465-500 ft
- AR 237R 45 ft @ 1.388 g/t gold, 16.6 g/t silver from 390-435 ft
- Grade-thickness products equivalent to ore intercepts in Phase II pit
- Deep oxidation – locally to > 600 ft, partial oxidation to >700 ft
- Simple mineralogy and geochemistry – same as Moss vein
Silver: Gold ratio averages 11:1 similar to Moss vein
Click the following link for detailed results of the total drill program: West Pit Drill Results
Drilling Discussion and Exploration Upside on the Moss Mine Concessions
The Program targeted the western area of the current Moss resource known as the West Pit. Drilling tested oxide gold mineralization within the Moss mineral resource and at depth beyond the current boundaries of the open pit. Most drill holes intercepted multiple thick zones of significant gold mineralization with several assays suggesting grades increase at depth and remain open. Click the link to view: Cross section of hole AR-226 intercepting mineralization beyond the pit floor.
These drill results show the widespread stockwork mineralization continues westward beyond the current limits of the Moss resource. Past work in this direction has defined a 1.7-kilometer-long trend of untested gold mineralization that comprise the following zones: West, Midwest and Far West Extensions. This trend is the top priority for resource expansion. Additionally, the Moss gold deposit is open to the east within the East Extension and represents the second ranked area for resource expansion. Targets outside the Moss Vein include the West Oatman Vein located 800 meters south of current mining operations. The following images demonstrate the upside exploration potential of the Moss Project: Long Section of the Moss Vein Extensions and Plan of the Moss Mine.
West Extension: This area represents the westward continuation of the Moss Vein and stockwork mineralization. Percussion drilling in 2018, included 31 holes, which returned an average of 0.697 g/t gold and 2.1 g/t silver over a defined average width of 43 feet in holes drilled to a depth of 94 feet from surface. Called the Mordor vein, this mineralization is open at depth and along strike. Further west, two RC drill holes by drilled in 2017 returned 115 feet of 0.467 g/t gold and 159 feet of 0.435 g/t gold in stockwork zones on strike with the Moss vein/stockwork system.
Midwest Extension: Located to the west of the West Extension, the Midwest Extension hosts several gold intercepts from historic drill holes completed in 1991 by Reynolds Metals (1) including several potentially economic intercepts such as 224 feet of 0.614 g/t gold in hole WO 91-7; 140 feet of 0.522 g/t gold in hole WO 91-6; 85 feet of 0.528 g/t gold in hole WO 91-5; and 65 feet of 0.795 g/t gold in hole WO 91-3. Confirmation follow-up drilling is currently being planned by Northern Vertex's technical team.
Far West Extension: This zone is the furthest mineralized area to the west of current mining operations. Here, mineralization is associated with broad stockwork veining containing scattered high-grade gold. Historic information suggests six drill holes were completed in this area, although data from the program is currently unknown and unavailable.
East Extension: Located east of the open pit, the East Extension represents an undrilled area where gold mineralization is found on surface and extends for up to 2 kilometers in strike length. Percussion drilling completed by Northern Vertex at the east end of the planned open pit returned significant intervals including 72 feet of 5.10 g/t gold and 39.0 g/t silver and 72 feet of 1.96 g/t gold and 7.51 g/t silver. Exploration drilling is planned to follow this mineralization to the east onto the unpatented claims.
West Oatman Vein: This vein system is defined by a northwestern mineral trend mapped on surface for a distance of 4.5 kilometers. The system is similar to the Moss vein system with both well-developed veins, breccias and stockwork zones. Historic drilling here by Reynolds (1) in 1992 returned intercepts of 0.487 g/t gold over 90 feet including a close but separate interval of 0.518 g/t gold over70 feet in hole 92-08.
(1) The Company cautions that a qualified person has not done sufficient work to verify the historical drilling data and has not substantiated any data as it pertains to such results; therefore, the reader should not rely upon such historical grades. The information is not necessarily indicative of mineralization on those mentioned Extensions and is provided as background and context material for the reader. The Company is treating the historical drilling data as a guideline to determining potential future exploration programs.
Samples of drill cuttings were collected by the drilling crew using a wet rotary splitter to ensure a representative sample of each five-foot interval. Field notes were recorded for each sample documenting what was sampled and how the sample was taken. Samples were collected in bags with a sample tag inserted and delivered to a secure location prior to pick-up by Skyline Labs, a commercial laboratory in Tucson, Arizona. Skyline Labs is an ISO 9001:2008 qualified assay lab that uses and makes available internal assaying controls. Quality control consisted of duplicate samples of cuttings collected every 200 feet of drilling and certified gold standards and blanks inserted every 50 feet into the sample stream.
At the lab, rock samples are dried, crushed and pulverized to 85% passing through a 200-mesh sieve. The pulps are assayed for gold using a 30 g split, Fire Assay (FA) and Atomic Absorption (AA) finish. Pulps from select samples were further analyzed using a 15 gram split using 41-elements ICP. Silver assays used the fire assay data. Over limit assays for both gold and silver (10 g/t for gold and 100 g/t for silver) were rerun using a gravimetric procedure. Rejects and pulps are stored at Golden Vertex's warehouse in Bullhead City for future reference.
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 Robert Cuffney, P.Geo, and a Qualified Person.
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.
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
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