Monday, 30 April 2012

Northern Vertex Mining hits 1.67 g/t gold equivalent over 20 metres at Moss

Northern Vertex Mining Corp. (CVE:NEE) (OTCQX:NHVCF) unveiled Monday results from its phase II, 6,500 metre in-fill drill and resource expansion program at the Moss gold-silver project in Mohave County, Arizona.
The results Monday are from core holes 11 through 17 of the program, which was designed to test the western extension of the Moss stockwork vein system.
Highlights included hole AR-140C, which returned 50.29 metres of 0.89 grams per tonne (g/t) gold equivalent, including 20 metres of 1.67 g/t gold equivalent.
"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," said chief geologist Dr. Bob Thompson.
"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."
So far, the company has reported on 35 holes of its phase II in-fill drill and resource expansion program. Included in the total are 18  reverse circulation drill holes and 17 diamond drill, or core, holes.
Northern Vertex said phase II drilling is now complete, with results for the remaining six holes expected shortly.
Earlier this month, the company reported on the results of core holes five through 10. Highlights included 6.26 grams per tonne (g/t) gold equivalent over 1.68 metres, 5.37 g/t gold equivalent over 1.83 metres, 4.03 g/t equivalent over 1.22 metres and 3.61 g/t gold equivalent over 4.57 metres.

The company has the right to earn a 70 percent interest in the historic Moss gold-silver property from Patriot Gold Corp.

The Canadian exploration and mining company's strategy is to acquire, develop and advance precious metal projects in Canada and the US, targeting the conversion of historical resource estimates to NI 43-101 compliant standards.

In March of last year, Northern Vertex acquired the rights to 70 percent of the Moss gold-silver project, where the company has since delineated a substantial NI 43-101 compliant gold-silver resource.

It drilled off a current resource of 590,000 ounces of gold equivalent, 90 percent of which is in the measured and indicated category.

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