Northern Vertex Announces Resource Definition Drill Program to Expand Initial Pit Design at Moss Gold-Silver Project in Northwestern, Arizona
Sep 26, 2012
OTC Disclosure News Service
Vancouver, BC, Canada –
September 26, 2012
Northern Vertex Announces Resource Definition Drill Program to ExpandInitial Pit Design at Moss Gold-Silver Project in Northwestern, Arizona
Vancouver, B.C. -Northern Vertex Mining Corp. (TSX.V:NEE) (OTCQX:NHVCF) (“NorthernVertex”) is pleased to announce plans to commence a resource definition drillprogram to expand the parameters of a potential starter pit at the MossGold-Silver Project in Arizona. Theprogram will focus on two central hills on patented (private) ground within theproperty where mineralization is exposed at surface. Drilling is designed toassist Northern Vertex’s technical team in the preliminary design and modelingof a starter pit in the central area of the mineralized gold-silver corridor.The drill program is also specifically targeted to convert a substantial portionof the NI 43-101 resources situated in close proximity to this area, from theInferred category into the Measured and Indicated category.
States Chief Geologist, Dr. Bob Thompson PhD, PEng. “Our goal of advancingMoss into a near-term precious metal producer is clearly coming into focus. Theupcoming closely-spaced drill program will enable us to optimize our initialpit design, and expand our established 956,800-ounce Measured and Indicated gold-silverresource. The extensive development of the gold-silver bearing stockwork systemin this region of the property, makes this an ideal target location to pursuethe initial pilot phase of our planned, multi-phase commercial development ofthe Moss gold-silver resource.”
Previous undergroundsampling of a cross-cut in hill #2 yielded awidth of 24 Meters Averaging 4.9 gpt Gold Equivalent including 9.14 Meters of10.83 gpt Gold Equivalent Grade (see NR Aug 16, 2012). The current drill holespacing on hill #1 is sufficiently close that cross sections and pit benchplans can be constructed. Through the upcoming drill program, the proposeddrill hole spacing on hill #2 is expected to allow for similar cross sectionsand pit bench plans. A versatile, track-mounted,hydraulic- percussion rig, capable of operating on the hillsides, will be usedto drill closely spaced holes to provide sufficient data for mine design andmine planning purposes. A mine plan andmine design is a prerequisite for the submission of an application to theArizona Dept. of Environmental Quality (AZ DEQ) for an Aquifer ProtectionPermit (APP). The upcoming drill program on Moss is expected to allow NorthernVertex to construct a mine plan and mine design as required by APP.
The Company reports it iscurrently finalizing drill contracts for the estimated 5,000 meter, multi-hole,upcoming definition drill program on Moss. Drilling is expected to commence inthe first week of October 2012.
The company recently(see NR Sept 10, 2012) announced an up-dated mineral resource estimate preparedby Scott E. Wilson consulting Inc. of Denver, Colorado as follows:
Scott E. Wilson Consulting Inc. SummarizedUpdated Resource Estimate: Table 1
Reported at 0.3 gpt Au Cutoff
* Gold equivalency isbased on a silver:gold ratio of 50:1 and assumes 100% recovery of all metals.
* Mineral Resources are not Mineral Reserves and do not have demonstratedeconomic viability. There is no certainty that all or any part of the MineralResources estimated will be converted into Mineral Reserves estimate.
* Mineral resource tonnage and contained metal have been rounded to reflect theaccuracy of the estimate, and numbers may not add due to rounding.
* Resources were based on 28,871 m of drilling in 330 exploration drill holesand 590 meters of channel sampling from surface and underground trenches andcross-cuts. There were a total of 5,872 drill composite samples and 269 rockchannel samples used in the estimation of gold and silver. SEWC used InversePower Distance (ID3) as the preferred estimation technique for the Moss Project.
The foregoing geological disclosurehas also been reviewed and verified by Northern Vertex’s Chief Geologist, Dr.Bob Thompson PhD, PEng (a qualified person for the purpose of NationalInstrument 43-101, Standards of Disclosure for Mineral Projects).
Northern Vertex has the right to earn a 70% interest in the historic MossGold-Silver Property located in Mohave County, Arizona from Patriot Gold Corp.Subsequent to the Northern Vertex earn-in, financing of the project will be ona proportional basis.
For full QC/QA procedures please visit: www.northernvertex.com/QCQA.html.For complete drill results and estimates please visit: www.northernvertex.com/i//pdf/Moss_Drillresults.pdf
AboutNorthern Vertex: Northern Vertex is agold exploration and development company operating principally in the UnitedStates and Canada. The Company comprises an experienced management group with astrong background in all aspects of acquisition, exploration, development andfinancing of precious metal mining projects. The Company’s stated mandate is toacquire, develop and advance gold projects that demonstrate near termproduction potential and long-term sustainable growth.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
“Kenneth Berry”,President CEO
For further information, please visit www.northernvertex.com
or contact Investor Relations at: 604-601-3656 or at1-855-633-8798.
The TSX Venture Exchangehas not reviewed and does not accept responsibility for the adequacy or theaccuracy of this release.
Cautionary Note to US Investors: This news release maycontain information about adjacent properties on which we have no right toexplore or mine. We advise U.S. investors that the SEC’s mining guidelinesstrictly prohibit information of this type in documents filed with the SEC.U.S. investors are cautioned that mineral deposits on adjacent properties arenot indicative of mineral deposits on our properties. This news release maycontain forward-looking statements including but not limited to commentsregarding the timing and content of upcoming work programs, geologicalinterpretations, receipt of property titles, potential mineral recoveryprocesses, etc. Forward-looking statements address future events and conditionsand therefore involve inherent risks and uncertainties. Actual results maydiffer materially from those currently anticipated in
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