Wednesday, 27 June 2012

Northern Vertex says underground channel samples yield 2.64 g/t gold equivalent over 91.4 metres

Northern Vertex Mining Corp. (CVE:NEE) (OTCQX:NHVCF) announced Tuesday initial results from the underground sampling of historic workings at its Moss gold-silver project in Mohave County, northwestern Arizona.

The company said channel samples were taken at 5-foot intervals across the ‘back’ (roof) of drifts and cross-cuts in the vicinity of the property’s Allen Shaft.

Highlights included 91.4 metres averaging 2.64 grams per tonne (g/t) gold and 41.2 metres averaging 1.81 g/t gold.

“We are very pleased with initial assay results from the sampling program," said Northern's chief geologist in a statement, Dr. Bob Thompson.

"The underground workings observed at Moss are far more extensive than originally anticipated. Current results are consistent with and support our previous phase I and phase II drill results which showed 1.5+ gpt gold equivalent grades extending across the Moss Gold-Silver system."

"We expect these consistent and continuous high-grades encountered underground will play a significant role in further boosting the size and grade of our established Gold-Silver resource as we continue our resource expansion program underground and to the west of the Moss Gold-Silver system.”

Indeed, underground sampling is continuing at the Moss project, with additional results from the program expected shortly, the company said.

In May, Northern Vertex unveiled drill results from its phase II, 6,500 metre infill and resource expansion program at its Moss project. 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 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.

In March of last year, Northern Vertex acquired from Patriot Gold Corp the rights to 70 per cent 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 per cent of which is in the measured and indicated category.
A resource update is expected to follow shortly.
Northern Vertex is a gold exploration and development company operating mainly in the United States and Canada. The company also holds the earlier stage Copley project to its name, which is located in the Nechako region of central British Columbia.

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