Northern Abitibi Mining Corp.
TSX VENTURE : NAI

Northern Abitibi Mining Corp.

November 01, 2011 09:00 ET

Northern Abitibi Reports Final Exploration Results for the 2011 Program

CALGARY, ALBERTA--(Marketwire - Nov. 1, 2011) - Northern Abitibi Mining Corp. (TSX VENTURE:NAI) ("Northern Abitibi") is pleased to provide assay results for drill holes 124, 125, and 126 along with the results of an induced polarization geophysical survey completed over the property.

The 2011 field program is complete and all assay and geophysical results have been received. The 2011 program has been very successful in expanding the Thor Trend to depth and in identifying several additional zones on the property with potential to host gold resources.

Drilling Program - Holes 124, 125, and 126 are the final unreported holes from the 2011 program and tested the northern end of the Viking Trend, located 2 km west of the Thor Trend. All three holes intersected anomalous gold and silver mineralization located within a corridor of strong alteration and quartz veining that has been traced for 1.3 km in length and remains open at both ends.

Results from hole 124 includes 8.1 meters grading 0.45 grams per tonne (g/)t gold and 2 g/t silver from 3.2 to 11.3 metres depth, and 1.5 metres grading 3.2 g/t gold from 17 to 18.5 metres depth. Hole 125 returned 25.2 metres grading 0.3 g/t gold and 2 g/t silver from 8.3 to 33.5 metres depth, along with a 1.5 metre intercept grading 0.5 g/t gold and 2 g/t silver from 60 to 61.5 metres depth. Hole 126 encountered anomalous gold from 9.0 to 60.5 metres depth with the best interval returning 0.5 g/t gold and 4 g/t silver over 1.5 metres.

Summary of select drill intercepts – Viking Project

Drill Hole From (m) To (m) Width (m)* Au g/t Ag g/t
Hole 124 3.2 11.3 8.1 0.45 2
Hole 124 17.0 18.5 1.5 3.2 -
Hole 125 8.3 33.5 25.2 0.3 2
Hole 125 60.0 61.5 1.5 0.5 2

*The true widths of the mineralized intercepts have not been determined.

Drilling results from the Viking Trend continue to show the zone contains a large area with anomalous to low grade gold and silver values whereas surface sampling from the zone demonstrates it also contains localized high grade structures which have not been encountered in drilling to date. Previously released surface sample results from the zone include grab samples containing 10.0 and 21.1 g/t gold, and channel samples with 9.9 g/t gold over 1.4 metres and 5.2 g/t gold over 1 metre. There is a very low drill hole density within the Viking Trend and additional detailed exploration work focusing on the high grade zones will be required to determine if they have potential to host significant resources.

Geophysical Survey - A 2D and 3D induced polarization-resistivity survey was conducted over the Viking property in August and final results have now been received. Maps summarizing the 3D survey results are available in the Map Gallery on our website (www.naminco.ca).

Several geophysical exploration targets have been identified including a 330 metre long chargeability anomaly at the southern projection of the Thor Trend which has not been tested by drilling. The chargeability anomaly is interpreted to be related to sulfide-bearing intrusive rocks and the target has significant potential to host additional gold mineralization along the Thor Trend. Several chargeability anomalies occur west and east of the Thor Trend and some correspond to mineralized surface exposures indicating potential for additional mineralized zones in these areas. The 2D geophysical results over the southern and western part of the property have identified 3 large chargeability anomalies with strike lengths up to 1000 metres and widths up to 100 metres. Drill hole 127 (previously released) tested one of these anomalies and returned significant intersections of anomalous gold mineralization including 11.8 metres grading 0.2 g/t gold from 43.2 to 55 metres depth and 47.5 metres grading 0.2 g/t gold from 85 to 132.5 metres depth. This hole demonstrates that the chargeability anomalies are associated with gold mineralization and highlights the exploration potential of the area.

The Way Forward - The company is compiling all exploration data from the Viking project, prioritizing the numerous exploration targets on the property, and formulating plans to advance the project. Several high grade gold shoots have been identified along the Thor Trend and elsewhere on the property and these high grade zones will require closely spaced drilling or possibly underground exploration development to delineate them.

The Viking Property - The Viking Property contains numerous high grade veins within larger bulk tonnage style zones of gold mineralization located within a 3 to 4 kilometre long gold-in-soil anomaly. Drilling highlights include high grade intercepts of 5.75 metres grading 33.7 g/t gold, 3.7 metres grading 50.1 g/t gold, 0.5 metres grading 218.8 g/t gold as well as lower grade intercepts including 27 metres grading 7.9 g/t gold, 23.0 metres grading 5.1 g/t gold, and 57.4 metres grading 2.8 g/t gold. Based on drilling completed prior to the 2011 program, the Thor Trend contains an uncut Inferred Mineral Resource containing 6,293,000 tonnes grading 0.65 g/t gold (131,511 ounces of gold), is located in the mining friendly jurisdiction of Newfoundland and Labrador, and has excellent access and local infrastructure, with a paved highway and power line located less than one kilometre from the project. Northern Abitibi has a 100% property interest in the Viking project subject to a 2% to 4% sliding scale net smelter royalty held by Altius Resources. A detailed description of the Viking project is available on our website (www.naminco.ca).

Quality Control - All drill core is logged, photographed, and cut in half with a diamond saw. Half of the core is bagged and sent to Eastern Analytical for analyses while the other half is archived and stored on site for verification and reference purposes. Gold is assayed by standard fire assay methods with additional elements analyzed by Induced Coupled Plasma (ICP). Samples with greater than 5 g/t gold and samples containing visible gold are re-assayed using a metallic sieve procedure to reduce the nugget effect created by free gold particles in the samples.

Duplicate samples, blanks, and certified standards are included with every sample batch and then checked to ensure proper quality assurance and quality control (QA/QC). Select samples are also sent to an outside laboratory for independent analyses as part of a check assay procedure.

Northern Abitibi - Northern Abitibi's technical team of experienced, professional geologists is committed to assembling and advancing a portfolio of gold and base metal projects from opportunities within Canada, Mexico and the United States. Northern Abitibi is focused on identifying high potential North American projects and exploring and developing them in a responsible and cost-effective manner.

Dr. Shane Ebert, P.Geo., is the Qualified Person responsible for the preparation of this news release.

Shane Ebert, President/Director

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Northern Abitibi's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Northern Abitibi. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Northern Abitibi's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Northern Abitibi's filings with the Canadian securities authorities. Accordingly, holders of Northern Abitibi shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Northern Abitibi disclaims any responsibility to update these forward-looking statements.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information

  • Northern Abitibi Mining Corp.
    Shane Ebert
    1.250.964.2699

    Northern Abitibi Mining Corp.
    Jean Pierre Jutras
    1.403.233.2636
    www.naminco.ca