Northern Vertex is a Canadian based exploration and mining company focused on the development of precious metals deposits in Canada and the United States. The Company’s objective is to acquire, develop and advance precious metal projects that demonstrate near term production potential and long term sustainable growth.
In the last 12 months Northern Vertex has successfully negotiated the acquisition of two US based properties that fit within its mandate and implememted a strategy designed to convert historical resource estimates into National Instrument 43-101 standards.
The Moss Gold-Silver Project in Arizona was acquired in March 2011. Since the acquisition, Northern Vertex has completed an extensive 27,000 foot drill program, which has resulted in the delineation of a substantial NI 43-101 compliant gold-silver resource. As a result of the success of the program, Baseline and Scoping studies have been initiated to fast-track the project towards its ultimate goal of gold-silver production.
The Company is targeting a low-cost heap leachable gold-silver resource at Moss in the order of one million ounces of gold equivalent. A recently released 43-101 Independent Resource Calculation conducted by the engineering firm Scott E. Wilson Consulting, Inc. pegs the total indicated and inferred resource at Moss at 590,400 Gold Equivalent ounces (483,792 indicated ounces and 106,628 inferred ounces.
Upcoming drilling on the western extension of the resource offers significant potential for even further resource expansion. This is an area where an extensive, previous surface sampling program by Northern Vertex returned promising gold-silver values extending an additional 1,135 feet on strike and beyond the current 43-101 resource.
A 25,000 foot drill program is now underway on the Project.
The Lemhi Gold-Silver Project in Idaho represents a milestone acquisition for the Company. Northern Vertex plans to mirror the success of the Moss program on Lemhi with a similar 30,000 foot infill drill and resource definition program to begin aggressively validating the property’s non-compliant historical gold resource.
The Lemhi Property has a historical non-compliant 43-101 resource of 32.36 million short tons at a grade of 0.0375 ounces per short ton for 1.21 million contained ounces of gold, as reported by Pincock Allen & Holt in 1996 (the “PAH Report”).
Northern Vertex and ISGC (the “JV Partners”) have agreed to an initial funding commitment totaling US$15 million that will cover the cost of the Acquisition and the initial work program in connection with the upcoming 30,000 foot drill program.
The Company’s Copley Gold property is situated in the emerging Nechako Plateau of Central British Columbia, Canada. The 2,926 hectare property, which contains a large gold-bearing epithermal system measuring 7 kilometers long x 2 kilometers wide, lies on trend to the recent Blackwater-Davidson bulk-tonnage discovery 40 km to the south.
A recent 1100 meter, 11 hole drilling program conducted on the Copley property was successful identifying several large gold bearing structures encountering significant gold intersections over a large area and promising gold values in 9 out of 11 holes.
December 22, 2016, Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V:NEE) (the “Company”) is pleased to announce the placement of a purchase order with Goodfellow Crushers (“Goodfellow”) of Boulder City, NV for the design, fabrication and delivery of a three-stage crushing plant for the Company’s 100% owned Moss mine project. The plant will consist of a primary jaw crusher, a secondary cone crusher, and two tertiary cone crushers. The plant will be fabricated in the Goodfellow facility in Boulder City, NV with additional fabrication at the KPI-JCI facility in Eugene, OR.
Kenneth Berry, President and CEO commented “The placement of this purchase order is a significant milestone for the Company in the realization of our plans for the future re-activation of the Moss mine. This plant is the largest capital asset to be acquired for the project, and we look forward to working with Goodfellow as we begin to design and implement our plant crushing facilities over the coming weeks and months.”
The Company further reports additional activities currently underway at the Moss mine site include site perimeter fencing, the commencement of site earthworks, reclamation of previous historical mining disturbances, and decommissioning of the Phase I carbon plant. Further updates on activities will be forthcoming in future news releases.
About Northern Vertex
Northern Vertex Mining Corp. is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold-Silver Property located in NW Arizona, USA. The Moss Mine Gold-Silver Property is a development phase epithermal, brecciated, low sulphidation quartz-calcite vein and stockwork system. The Company's management comprises an experienced management 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.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth Berry "
President & CEO
For further information, please visit www.northernvertex.com
or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798.