VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 4, 2014) - Northern Vertex Mining Corp. (TSX VENTURE:NEE) (the "Company") is pleased to provide an update on the Company's exploration activities at its earn-in Moss Mine Project site near Bullhead City, Arizona.
The Company has commenced a geologic mapping and sampling program at the Moss project. The objective of this program is to identify and prioritize areas for future drilling where new resources may be discovered. The potential for discovering new gold deposits is considered by management to be excellent.
Dick Whittington, President & CEO, states, "It's exciting to commence the first exploration program on the Moss property outside the main Moss vein system. The combination of the Moss property -- of which only 5% has been explored to date -- and the Silver Creek property, provide excellent potential for new gold discoveries."
As previously announced, there are 21 kilometers of untested strike length in at least nine different structures within the Moss claims as defined by magnetic airborne surveys, historic workings and mapping and preliminary sampling. Additionally, the recent Silver Creek claim option has added another 1,450 hectares of prospective ground with potential to host both high grade vein controlled mineralization and low grade stockwork mineralization. There are five previously identified target areas with gold mineralization ranging from background to 6.23 gpt tonne gold on the Silver Creek claims.
Specific target areas include:
- 1,500 meters of underexplored Moss structure outside the current resource limits
- Nearly 6 kilometers of unexplored extension of the Gold Road structure that hosts the Gold Road mine that produced 484,000 ounces of gold at 10.0 gpt gold (reported in "The Geology and Ore Deposits of Oatman, Arizona, Arizona Geological Digest vol. 15, 1985)
- Numerous historic workings along known unexplored veins including the Rattan vein where the single drill hole (AR 136) intersected 1.5 m (5 feet) grading 13.072 g/t Au (0.381 opt Au) and 67.0 g/t Ag (1.95 opt Ag)
- Intersection of the Gold Road and Eastern United structures (Gold Road produced 484,000 ounces at 10 gpt and United Eastern produced 769,000 ounces at 35.76 gpt gold; from "the Geology and Ore Deposits of Oatman Arizona, Arizona Geological Digest vol. 15, 1985)
- Five previously identified target areas of the Silver Creek claims
The geologic mapping and sampling program is the first step in evaluating the resource upside of the project. The upside is considered very good given the extensive untested strike length on mineralized/altered structures totaling approximately 21 kilometers and that the three principal ore bodies of United Eastern, Tom Reid and Gold Road occupied strike lengths of 130 to 1,160 meters.
About Northern Vertex: Northern Vertex Mining Corp. is a Canadian based exploration and mining company focused on the reactivation of the Moss Mine Gold-Silver Project located in Mohave County, NW Arizona, USA, where the Company has the right to earn-in to a 70% property interest through a Joint Venture with Patriot Gold Corp. The Moss Mine Gold-Silver Project is an epithermal, brecciated, low sulphidation quartz-calcite vein and stockwork system which extends over a strike length of 1,400 meters and has been drill tested to depths of 220 meters vertically. It is a potential heap leach, open pit project being advanced under a three-phase business plan, specifically designed to ensure that technical, economic, permitting and funding requirements are met prior to each phase proceeding. The Company's management comprises an experienced team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
To view photos of the Moss Mine Gold-Silver Project, please click on the following link: http://www.northernvertex.com/s/PhotoGallery.asp
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
J.R.H. (Dick) Whittington, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: The information in this news release has been prepared as at September 3, 2014. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, the completion of the Private Placement, the proposed use of the proceeds of the Private Placement, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such Statements.
2014 number 13