Tuesday, 1 May 2012

Northern Vertex adds second drill rig to Lemhi gold project

Northern Vertex Mining Corp. (CVE:NEE) (OTCQX:NHVCF) said Tuesday it has added a second diamond drill rig to its current 10,000 metre in-fill and resource confirmation program on its Lemhi gold project in Idaho.

"We are pleased to report the company is stepping up drilling activities on the Lemhi Gold Project through the addition of a second core rig," said CEO Kenneth Berry.

"The second rig will allow us to double our current drill production at Lemhi, as we continue our Phase I program designed to validate and expand upon historic drill results from previous work conducted on the property."

So far, Northern Vertex has completed a total of seven holes of its phase I program on project. The company said drill core has been sent in for assaying and the first results are expected in the near future.

Under a joint-venture agreement between Northern Vertex and Idaho State Gold Company, Northern currently holds a 51 percent interest in Lemhi and has the right to increase its stake to 75.5 percent.

As the operator of the venture, Northern said the aim of the $7.7 million phase I program is to prove up the historical resource and bring it to NI 43-101 standards.

The Lemhi project includes Yamana's interest in the Humbug gold deposit, and has a historical non-compliant 43-101 resource of 32.36 million short tons at a grade of 0.0375 ounces per short ton for 1.21 million contained ounces of gold.

The project is located 25 miles north of Salmon, Idaho.

Northern Vertex is a gold exploration and development company that operates mainly in the United States and Canada.

On Monday, the company unveiled 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.

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.

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