Thursday, 17 May 2012

Northern Vertex hits 17 metres of 1.03 g/t gold equivalent at Moss

Northern Vertex Mining Corp. (CVE:NEE) (OTCQX:NHVCF) unveiled Wednesday drill results from its phase II, 6,500 metre (20,000 ft) infill and resource expansion program at its Moss gold-silver project in Mohave County, northwestern Arizona.
The results from core holes 18 through 23 tested the western extension of the Moss stockwork vein system.
The company said it hit 17 metres of 1.03 grams per tonne (g/t) of gold equivalent in hole AR-144C, including 1.37 metres of 5.09 g/t gold equivalent, and 15 metres of 1.04 g/t gold equivalent in hole AR-159C, as drilling continued to expand the western extension.
“We are very pleased to report that Phase II drill results have further extended mineralization on the western extension at Moss," said chief geologist, Dr. Bob Thompson.
"The gold/silver mineralized structure now spans 6,000 ft on strike, remaining open to the West, East and at depth. High-grade feeder veins were intersected to the south and are believed to be associated with historic mining activity dating back to the early 1900’s.
"Overall, results further confirm that the Western Extension at Moss contains remarkably uniform gold and silver distribution over substantial widths."
The company said results have now been reported for all phase II drilling, including 18 reverse circulation drill holes and 23 diamond drill (core) holes.
"We continue to encounter multi-metre, 1+ gpt Gold Eqv intervals and multi-gram hot spots, contained within 40+metre intersections, running well above internal cut-off grades," continued Thompson.
"It is this type of consistent mineralization that will undoubtedly play a vital role in boosting the overall size and tonnage of the contained Gold-Silver resource at Moss, as we continue our expansion west of our current NI 43-101 Gold-Silver resource."
In March of last year, Northern Vertex acquired the rights to 70 percent of the Moss gold-silver project, where the company drilled a substantial amount to delineate an NI 43-101 compliant gold-silver resource.
CEO Ken Berry says the company drilled off a current resource of 590,000 ounces of gold equivalent, 90 percent of which is in the measured and indicated category.
A resource update is expected to follow shortly.
Earlier this month, the company announced results which included 20.12 metres of 1.67 grams per tonne (g/t) of gold equivalent in hole AR-140C.
Since the joint venture project with Northern was announced in March 2011, the project has completed 87 drill holes through reverse circulation, diamond drill and coring techniques.
Northern Vertex is a gold exploration and development company operating principally in the United States and Canada. The company also has the earlier stage Copley project to its name, which is located in the Nechako region of central British Columbia.

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