VANCOUVER, BC, May 11, 2021 - Northern Vertex Mining Corp. (TSXV: NEE) (OTC NASDAQ INTL.: NHVCF) (the "Company" or "Northern Vertex") a U.S.-focused gold producer with district-scale exploration projects in the Walker Lane Trend, is pleased to report the initiation of a seven-hole drill program to follow up on and expand known mineralization on the regional West Oatman Trend. The West Oatman vein system runs parallel to the Moss vein and has similar characteristics. Previous drilling has defined mineralization along approximately one kilometer of strike. Mineralization remains open along strike and at depth.
The drill program is designed to follow up on recent and historic drilling which returned multiple significant intercepts including hole AR20-259R (see news release dated August 12, 2020) which returned:
53.34 meters grading 0.81 g/t gold and 14.77 g/t silver (1.01 g/t AuEq), including 18.29 meters grading 1.55 g/t gold and 35.19 g/t silver (2.02 g/t AuEq), where AuEq = Au + Ag/75
The West Oatman drill program is expected to run in parallel with ongoing brownfields exploration in and around the Moss Mine, including the high-grade Ruth Vein.
Key Points:
-
The West Oatman target is located only 2.3 kilometers from the Moss Mine.
-
West Oatman vein system appears to be analogous to the Moss Mine veins system.
-
Moss and West Oatman are part of the historic Oatman mining district which is known to have produced more than two million ounces of gold.
-
Initial follow up will be comprised of 800 meters of diamond core drilling in seven holes to test the system along strike and at depth.
-
Previous drilling indicates that the West Oatman vein system contains gold and silver mineralization along a strike length of at least 1,000 meters, and that mineralization appears to increase in both grade and thickness with depth.
Northern Vertex President, Michael G. Allen commented, "Central to our objective of creating value for Northern Vertex shareholders is articulating the regional upside of the Moss Property, which is in an area that has historically produced more than two million ounces of gold. After consolidating multiple historical databases, we are pleased to present recent and previously unreleased drill results from one of our most high priority targets, West Oatman. By following up with core drilling, our goal is to rapidly determine the geometry and controls of the gold and silver mineralization at a target where we see significant potential for expansion."
West Oatman Target
The West Oatman Target is a bulk tonnage exploration target located on the south side of Silver Creek, approximately 2.3 kilometers to the south of the Moss Mine (Figure 1 West Oatman Target Location). Exploration is currently focused on the fault-hosted West Oatman vein system, which is exposed on surface as a large area of well-developed epithermal quartz-calcite veins, breccia, and stockwork. The host fault has been mapped for over 4.5 kilometers and is interpreted to be an extension of the Gold Road structure to the southeast. The West Oatman vein system is similar to the Moss vein system that is currently being mined.
Mapping, surface sampling, and previous drilling on the West Oatman Target have indicated that the West Oatman vein system is potentially mineralized over a strike length of at least one kilometer, with the host structure striking 290 degrees and dipping approximately 65 degrees to the northeast. Vein, stockwork, and breccia widths vary from less than a meter to approximately 30 to 50 meters in width in breccia-filled dilation zones. Limited drilling of the West Oatman vein system at depth indicates that mineralized intersections appear to increase in both grade and thickness with depth.
Northern Vertex in 2014 collected 267 surface rock chip and channel samples from along a one-kilometer strike length of the West Oatman vein system (Figure 1 West Oatman Target Location). The sampling yielded average values of 0.50 g/t Au and 3.72 g/t Ag, with individual samples ranging from below detection to 8.19 g/t Au and 51.50 g/t Ag.
The West Oatman vein system is open along strike to the east and west, and at depth.
West Oatman Drilling Program
Northern Vertex drilled 894.2 m in 13 HQ diameter diamond core drillholes (2017) and 121.1 m in a single Reverse Circulation (RC) drillhole (2020) at the West Oatman Target (Figure 2 Drillhole Location Map, West Oatman Target). Drill results for Northern Vertex's 2017 drilling on the West Oatman Target were not previously released. Results from drillhole AR20-259R (see News Release dated August 12, 2020), which tested the structure at depth, support the apparent increase in mineralization intersection grade and thickness with depth indicated by the historic Reynolds Metals drilling (see below;Figure 3 Cross Section through West Oatman vein system).
Results from this drilling are presented in Table 1 and Table 2.
Table 1: Results of Northern Vertex's 2020 RC Drilling on the West Oatman Target
|
Drillhole |
Azimuth |
Inclination |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
|
AR20-259R* |
0 |
-90 |
68.58 |
121.92 |
53.34 |
0.81 |
14.77 |
1.01 |
|
Including |
|
|
89.92 |
108.20 |
18.29 |
1.55 |
35.19 |
2.02 |
|
Note: True thickness ranges is approximately 42% of the reported interval thickness for vertical drilling. Assay data are uncapped. *Drillhole AR20-259R ended in mineralization. AuEq = Au + Ag/75. RC drilling was conducted by Boart Longyear. RC samples, collected every 1.52 m, were transported in sealed bags to Skyline Assayers and Laboratories (Skyline) in Tucson, AZ. Field control QAQC samples, including standards, blanks, and field duplicates, were inserted into the sample stream at a rate of one field control sample every six regular samples. Gold was determined by fire-assay fusion of a 30 g sub-samples with atomic absorption spectroscopy (method FA-01). Overlimit samples of gold were assayed by gravimetric means (FA-02). Skyline Laboratories is accredited in accordance with ISO/IEC 17025:2017 and ISO 9001:2015. |
Table 2: Results of Northern Vertex's 2017 Core Drilling on the West Oatman Target
|
Drillhole |
Azimuth |
Inclination |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
Ag (g/t) |
AuEq |
|
WO-1C |
165 |
-45 |
32.00 |
41.15 |
9.14 |
0.52 |
0.80 |
0.53 |
|
WO-2C |
180 |
-45 |
14.78 |
19.05 |
4.27 |
0.38 |
4.03 |
0.43 |
|
WO-3C |
185 |
-45 |
12.19 |
30.48 |
18.29 |
0.29 |
3.23 |
0.34 |
|
WO-4C |
190 |
-45 |
4.27 |
39.62 |
35.36 |
0.84 |
2.83 |
0.88 |
|
Including |
|
|
21.34 |
23.47 |
2.13 |
11.00 |
3.83 |
11.05 |
|
WO-5C |
192 |
-50 |
24.38 |
42.67 |
18.29 |
0.35 |
3.34 |
0.39 |
|
WO-6C |
165 |
-45 |
22.86 |
48.01 |
25.15 |
0.52 |
4.29 |
0.58 |
|
WO-7C |
210 |
-45 |
13.72 |
27.95 |
14.23 |
0.47 |
4.36 |
0.53 |
|
and |
|
|
31.49 |
50.29 |
18.81 |
0.35 |
1.01 |
0.36 |
|
and |
|
|
59.44 |
67.06 |
7.62 |
3.49 |
1.58 |
3.51 |
|
Including |
|
|
65.53 |
67.06 |
1.52 |
16.50 |
6.10 |
16.58 |
|
WO-8C |
178 |
-60 |
13.72 |
53.34 |
39.62 |
0.34 |
2.08 |
0.36 |
|
WO-9C |
180 |
-60 |
71.63 |
77.72 |
6.10 |
0.30 |
1.48 |
0.32 |
|
WO-10C |
185 |
-60 |
9.14 |
56.39 |
47.24 |
0.32 |
2.79 |
0.36 |
|
Including |
|
|
9.14 |
10.67 |
1.52 |
1.48 |
1.20 |
1.50 |
|
Including |
|
|
33.53 |
39.62 |
6.10 |
0.59 |
1.70 |
0.61 |
|
Including |
|
|
48.77 |
56.39 |
7.62 |
0.50 |
0.54 |
0.50 |
|
and |
|
|
60.96 |
68.58 |
7.62 |
0.23 |
0.36 |
0.23 |
|
WO-11C |
208 |
-45 |
40.54 |
41.15 |
0.61 |
1.23 |
37.50 |
1.73 |
|
and |
|
|
51.76 |
64.34 |
12.59 |
0.27 |
1.03 |
0.28 |
|
WO-12C |
204 |
-45 |
30.39 |
32.00 |
1.62 |
0.37 |
4.72 |
0.43 |
|
and |
|
|
54.86 |
86.47 |
31.61 |
0.34 |
1.56 |
0.37 |
|
and |
|
|
100.58 |
103.63 |
3.05 |
1.76 |
3.00 |
1.80 |
|
WO-13C |
203 |
-50 |
no significant results |
|||||
|
Note: True thickness ranges between approximately 82% and 94% of the reported interval thickness for drillholes inclined between -60 degrees and -45 degrees, respectively. Assay data are uncapped. AuEq = Au + Ag/75. Diamond core drilling was conducted by BDW Drilling of Guadalajara, Mexico. Field control QAQC samples included standards, blanks, and field duplicates that were inserted into the sample stream at a rate of one field control sample per twelve regular samples. Half core samples were submitted to Bureau Veritas Mineral Laboratories (BVM) in Sparks, NV. Gold was determined by fire-assay fusion of a 30 g sub-samples with atomic absorption spectroscopy (method FA430). Overlimit samples of gold were assayed by gravimetric means (FA530). Multi-element data for 35 elements were collected by Inductively Coupled Plasma Emission Spectroscopy (MA300). BVM has a comprehensive quality management system meeting the requirements of ISO/IEC 17025 and ISO 9001. |
Diamond core and RC cutting logging and sampling were conducted by professional geologists. Results from Northern Vertex's drilling appears to have validated the results of earlier drilling programs, confirming the tenor of gold and silver mineralization over a strike length of approximately 550 meters of the West Oatman vein system.
Upgrading our Databases - Historic Drilling
The Company has been able to locate two historic data sets for drilling on the West Oatman Target, Reynolds Metals (1992) and Grubstake Mining Company (1961; Grubstake). The Reynolds Metals drilling shows that mineralization tends to thicken with depth. The Grubstake drilling appears to show the presence of shallow high-grade mineralization.
Historic holes tested approximately one kilometer of strike of the West Oatman vein system.
A. Reynolds Metals Drilling (1992)
Reynolds Metals conducted 1,411.22 meters of RC drilling on part of the West Oatman vein system in 1992 (Figure 2 Drillhole Location Map, West Oatman Target). Highlights include hole BW92-01, which returned 24.4 meters grading 0.72 g/t Au, and BW92-06, which returned 42.7 meters grading 0.89 g/t Au (Table 3). Silver was not assayed for.
The drilling tested the system along a strike length of almost one kilometer and mineralized intersections appear to be increasing in thickness with depth (Figure 3 Cross Section through West Oatman vein system).
Table 3: 1992 Reynolds Metals Drill Results.
|
Drillhole |
Azimuth |
Inclination |
From |
To |
Length |
Au (g/t) |
|
BW92-01 |
192 |
-50 |
32.00 |
56.39 |
24.38 |
0.72 |
|
Including |
|
|
35.05 |
45.72 |
10.67 |
1.34 |
|
and |
|
|
77.72 |
80.77 |
3.05 |
0.46 |
|
BW92-02 |
180 |
-50 |
44.20 |
51.82 |
7.62 |
0.75 |
|
Including |
|
|
45.72 |
50.29 |
4.57 |
1.09 |
|
and |
|
|
59.44 |
65.53 |
6.10 |
0.25 |
|
BW92-03 |
0 |
-90 |
74.68 |
99.06 |
24.38 |
0.15 |
|
BW92-04 |
185 |
-50 |
no significant results |
|||
|
BW92-05 |
188 |
-50 |
24.38 |
47.24 |
22.86 |
0.83 |
|
Including |
|
|
24.38 |
25.91 |
1.52 |
6.85 |
|
Including |
|
|
30.48 |
36.58 |
6.10 |
0.73 |
|
and |
|
|
79.25 |
82.30 |
3.05 |
2.50 |
|
BW92-06 |
0 |
-90 |
45.72 |
51.82 |
6.10 |
0.32 |
|
and |
|
|
56.39 |
62.48 |
6.10 |
0.26 |
|
and |
|
|
67.06 |
109.73 |
42.67 |
0.89 |
|
Including |
|
|
74.68 |
88.39 |
13.72 |
1.45 |
|
Including |
|
|
91.44 |
102.11 |
10.67 |
1.21 |
|
BW92-07* |
188 |
-50 |
108.20 |
118.87 |
10.67 |
0.22 |
|
And |
|
|
128.02 |
137.16 |
9.14 |
0.59 |
|
Including |
|
|
129.54 |
132.59 |
3.05 |
1.04 |
|
And |
|
|
150.88 |
152.40 |
1.52 |
0.33 |
|
BW92-08 |
175 |
-50 |
35.05 |
115.82 |
80.77 |
0.40 |
|
Which includes |
|
|
60.96 |
65.53 |
4.57 |
1.00 |
|
Including |
|
|
85.34 |
99.06 |
13.72 |
0.69 |
|
BW92-09* |
200 |
-50 |
25.91 |
62.48 |
36.58 |
0.23 |
|
and |
|
|
77.72 |
99.06 |
21.34 |
0.21 |
|
and |
|
|
117.35 |
120.40 |
3.05 |
0.26 |
|
BW92-10 |
0 |
-90 |
64.01 |
112.78 |
48.77 |
0.55 |
|
Including |
|
|
73.15 |
83.82 |
10.67 |
1.50 |
|
BW92-11 |
205 |
-50 |
59.44 |
79.25 |
19.81 |
0.33 |
|
Including |
|
|
60.96 |
68.58 |
7.62 |
0.55 |
|
BW92-12 |
210 |
-60 |
no significant results |
|||
|
BW92-13 |
212 |
-60 |
48.77 |
51.82 |
3.05 |
3.04 |
|
and |
|
|
70.10 |
79.25 |
9.14 |
0.28 |
|
Note: True thickness ranges between approximately 42% (for vertical drillholes) and approximately 91% (for -50 degrees inclined drillholes) of the reported interval thickness. Assay data are uncapped. *Drillholes ended in mineralization. Silver was not assayed for. |
Reynolds Metals samples were assayed by Chemex Labs Inc. (now ALS Chemex Labs Inc.) of Sparks, NV. Collar locations and assay data were readily verified against original documentation and laboratory assay certificates. No bias was noted in the gold distribution sampled by the Reynolds Metals drilling compared to that sampled by spatially proximal Northern Vertex drilling.
B. Grubstake Mining Company Drilling (1961)
Grubstake conducted a diamond drilling program along approximately 610 meters of the West Oatman vein system. A total of 277.06 meters was drilled in six diamond core drillholes and results are summarized in Table 4.
Table 4: 1961 Grubstake Mining Company diamond drilling on West Oatman vein system
|
Drillhole |
Azimuth |
Inclination |
From |
To |
Length |
Au (g/t) |
Ag (g/t) |
|
GMC-01 |
0 |
-90 |
19.81 |
22.86 |
3.05 |
5.14 |
18.67 |
|
|
|
|
22.86 |
25.91 |
3.05 |
8.23 |
19.05 |
|
GMC-02 |
0 |
-90 |
19.81 |
22.86 |
3.05 |
4.11 |
44.95 |
|
|
|
|
31.09 |
33.53 |
2.44 |
1.37 |
4.95 |
|
GMC-03 |
230 |
-82 |
22.86 |
25.91 |
3.05 |
6.17 |
20.57 |
|
|
|
|
33.53 |
36.58 |
3.05 |
20.57 |
33.52 |
|
GMC-04 |
0 |
-90 |
33.53 |
35.05 |
1.52 |
14.11 |
36.95 |
|
|
|
|
57.91 |
60.96 |
3.05 |
4.11 |
5.33 |
|
GMC-05 |
0 |
-90 |
12.19 |
18.29 |
6.10 |
4.11 |
26.29 |
|
|
|
|
18.29 |
22.86 |
4.57 |
19.20 |
14.48 |
|
GMC-06 |
0 |
-90 |
18.29 |
22.86 |
4.57 |
9.60 |
72.00 |
|
|
|
|
32.00 |
35.05 |
3.05 |
3.77 |
16.00 |
|
Note: Grubstake Mining Company drillholes are not to be relied on and AuEq has not been determined for this dataset due to incomplete sampling and inability to independently verify assay data against original assay certificates. True thickness is estimated to be approximately 42% of the reported interval thickness for vertical drillholes and 54% for the -82 degrees inclined drillhole. Assay data are uncapped. |
Qualified Person
Dr. Warwick Board, P.Geo., Vice President Exploration of Northern Vertex, is the Qualified Person as defined by NI 43-101 responsible for the Moss Regional Exploration Project and has reviewed and approved the scientific and technical information in this news release related thereto.
About Northern Vertex Mining Corp.
Northern Vertex offers investors a rare combination of cash flow, production, top-tier management, and exceptional exploration potential within two projects on the Walker Lane Gold Trend of western Nevada and Arizona. Management is executing a clear strategy that expands production and resources at the Moss Mine in Arizona while aggressively exploring the Hercules Project in Nevada.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Michael G. Allen"
President
CORPORATE INQUIRIES:
Michael G. Allen, President
Company Website: www.northernvertex.com
+1 (855) 633-8798 Toll Free
+1 (604) 601-3656 Office
Email: mike@northernvertex.com
TSXV: NEE | Nasdaq Intl: NHVCF | Frankfurt: 54N | ISIN: CA6660061012 | WKN: A1JUA0
Neither the 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.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements. Although Northern Vertex believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Northern Vertex can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Northern Vertex's periodic filings with Canadian securities regulators. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Northern Vertex's expectations include risks associated with the business of Northern Vertex; risks related to reliance on technical information provided by Northern Vertex; risks related to exploration and potential development of Northern Vertex's projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Northern Vertex's filings with Canadian securities regulators on SEDAR (available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Northern Vertex does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE Northern Vertex Mining Corp.
