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Monday, 12 November 2012
Northern Vertex appoints mining veteran Dick Whittington as president and CEO
Vancouver-based Northern Vertex Mining Corp. (CVE:NEE) (OTCQX:NHVCF) has appointed Dick Whittington as president and CEO of the company, effective immediately, replacing previous chief Ken Berry.
Whittington's career spans 35 years with mining companies in Canada, Mexico, Panama, Papua New Guinea and Australia. The company said his experience includes senior executive and mine management roles that oversaw numerous feasibility studies, mine evaluations, mine development, production, mergers and acquisitions.
As president and CEO of Northern Vertex, Whittington will be working closely with the company's board to advance its flagship Moss gold project in Arizona from its current stage of development to near-term gold production.
He will also be responsible for the review of all financing, development and acquisition alternatives for the company with a view to creating "long-term shareholder value", Northern said.
Berry will move the position of chairman of Northern Vertex's board.
"We have continued to put significant emphasis on building a corporate team that is capable of taking projects from the development stage through to production," said Berry.
"Mr. Whittington's leadership strengths and his demonstrated abilities in mine finance, mine construction, mine operations and mine production will undoubtedly play a vital role in the company moving its flagship Moss Gold Project towards production."
The appointment today comes after the appointment of Ed J. Duda as Northern's new chief financial officer and corporate secretary in September.
As former president and CEO of Farallon Mining, Whittington took the company from the discovery stage through to commercial production in less than four years.
After guiding the company through to a successful mid-tier zinc producer, Northern said he facilitated the sale of Farallon to Nyrstar for $409 million in January of 2011.
"I'm very excited to take a leadership role with Northern Vertex and to participate in the accelerated growth of the company as we move towards a production decision on the Moss Gold Project in Arizona," said Whittington.
"The company and its technical team has been highly successful in a short period of time developing its core assets and I look forward to building on that success and playing my part to ensure we maximize the value for shareholders and stakeholders alike."
Whittington was also credited with founding and chairing the Canadian Mining Task Force - an organization meant to represent Canadian mining and exploration companies interest in Mexico. He was awarded a Governer General Gold Medal for this accomplishment.
Whittington also serves on the boards of Kootenay Silver and Great Panther Silver, both Mexican-based mining companies.
Last month, Northern Vertex said that it will report initial results from current drilling at its Moss gold-silver project in Arizona in the near future, as it filed its NI 43-101 technical report on the asset.
The company filed the report that estimated 956,800 ounces of measured and indicated gold equivalent resources, and 266,340 ounces of inferred gold equivalent resources.
The inferred resource category as it was filed was higher than the initial 199,100 gold equivalent ounces as announced in its September news statement.
The company said that on final review and compilation of results by Scott E. Wilson Consulting, an additional 67,240 ounces of gold equivalent resources met the 0.3 grams per tonne (g/t) cutoff criteria, and were therfore added to the inferred resource total.
Northern Vertex also said that samples from a total of 75 percussion drill holes have been sent for assaying from its current 5,000 metre drilling program at Moss, with results anticipated shortly.
A rig capable of operating on hillsides is being used to drill closely-spaced holes to provide enough data for mine design and mine planning purposes.
The Moss mine, in Mojave County, Arizona, is a low-sulfidation epithermal deposit, with a 2 km strike length