VANCOUVER, BC, May 26, 2021 /CNW/ - Northern Vertex Mining Corp. (TSXV: NEE) (OTC Nasdaq Intl.: NHVCF) (the "Company" or "Northern Vertex") a Western U.S. gold producer with district-scale exploration projects in the Walker Lane Trend, is pleased to report recent results from its multi-phase infill and resource expansion drilling program at the Moss Mine in NW Arizona. Results for this release are focused along strike to the East of the producing Moss Mine.
Key Points:
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21.34 meters grading 1.98 g/t Gold and 23.75 g/t Silver in drillhole AR21-424R.
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22.86 meters grading 1.32 g/t Gold and 17.43 g/t Silver in hole AR21-425R.
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Drilling indicates economically significant mineralization extends at least 140 meters from mining operations and remains open.
Northern Vertex President, Michael G. Allen commented, "High grade gold mineralization immediately along strike of the producing operation gives us confidence in our ability to expand the resource at the Moss Mine in the near term. We are consistently showing that the Moss Mine has the potential to become a much larger operation as we explore within and around the existing footprint, along with multiple regional opportunities our team has identified. Over the coming months we intend to systematically explore and expand the Moss Property to assess its full potential as Arizona's largest pure precious metals producer."
Geology East of the Moss Mine
The Moss Vein is a fault-hosted epithermal quartz-calcite vein and vein stockwork. The vein strikes slightly north of east and dips to the south. Locally, the Moss Vein develops a more northly strike. These changes in strike are potential targets for the development of shoots of higher-grade mineralization. This observation was noted throughout the historical Oatman District which surrounds the Moss Mine.
The Ruth vein appears to narrow yet remains open to the east of the current mine, and is considered a target of interest for further resource expansion.
Drill Results
Assay results for 14 reverse circulation (RC) drillholes drilled from four different locations are included in this news release (see Table 1). Numerous relatively thick zones of epithermal vein-hosted gold and silver mineralization have been intersected along strike to the Moss East Pit (Figure 1 East Pit Extension Drilling Area Location Map; Figure 2 East Pit Extension Drillhole Location Map).
Significant intersections include drillhole AR20-424R which returned 21.34 meters grading 1.98 g/t gold, and 23.75g/t silver (2.30 g/t gold equivalent), including 3.05 meters grading 5.97 g/t gold and 40.05 g/t silver (6.50 g/t gold equivalent) for the Moss Vein, and drillhole AR21-425R, which returned 22.86 meters grading 1.32 g/t gold, and 17.43 g/t silver, (1.55 g/t gold equivalent), including 7.62 meters grading 3.39 g/t gold and 37.34 g/t silver (3.88g/t gold equivalent), (Figure 3 Cross Section: East Road Site, East Pit Extension Moss Vein Drilling Area).
The Moss Mine resource expansion drilling continues to intersect mineralization approximately 140 meters to the east of the existing pit rim. Further work to expand the resource is ongoing.
Table 1: Results of Northern Vertex's 2020 Resource Expansion RC Drilling to the East of the Moss Mine
|
Location |
Hole ID |
Target Vein |
Az/Dip |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
|
Hillside Pits |
AR20-387R |
Qtz stockworks |
140/-45 |
35.05 |
38.10 |
3.05 |
0.59 |
1.80 |
0.62 |
|
and |
|
|
160.02 |
163.07 |
3.05 |
1.15 |
97.15 |
2.44 |
|
|
AR20-388R |
Qtz stockworks |
140/-65 |
35.05 |
92.96 |
57.91 |
0.28 |
5.76 |
0.36 |
|
|
including |
|
|
56.39 |
62.48 |
6.10 |
0.50 |
5.63 |
0.57 |
|
|
including |
|
|
73.15 |
74.68 |
1.52 |
2.33 |
64.50 |
3.19 |
|
|
AR21-391R |
Qtz stockworks |
140/-80 |
85.34 |
91.44 |
6.10 |
0.79 |
11.08 |
0.94 |
|
|
including |
|
|
88.39 |
91.44 |
3.05 |
1.11 |
7.90 |
1.21 |
|
|
AR21-392R |
Moss vein |
320/-80 |
54.86 |
60.96 |
6.10 |
0.47 |
3.48 |
0.52 |
|
|
and |
|
|
76.20 |
89.92 |
13.72 |
0.37 |
2.62 |
0.41 |
|
|
and |
|
|
123.44 |
129.54 |
6.10 |
0.42 |
14.08 |
0.60 |
|
|
AR21-405R |
Moss vein |
90/-45 |
85.34 |
86.87 |
1.52 |
1.10 |
9.90 |
1.23 |
|
|
AR21-406R |
Moss vein |
90/-65 |
57.91 |
59.44 |
1.52 |
0.51 |
2.10 |
0.54 |
|
|
and |
|
|
108.20 |
117.35 |
9.14 |
1.20 |
2.15 |
1.23 |
|
|
including |
|
|
111.25 |
114.30 |
3.05 |
2.87 |
3.55 |
2.91 |
|
|
AR21-408R |
Qtz stockworks |
180/-45 |
no significant results |
||||||
|
AR21-409R |
Qtz stockworks |
180/-65 |
71.63 |
74.68 |
3.05 |
0.35 |
4.90 |
0.41 |
|
|
and |
|
|
82.30 |
83.82 |
1.52 |
2.40 |
2.30 |
2.43 |
|
|
and |
|
|
123.44 |
126.49 |
3.05 |
1.21 |
2.45 |
1.24 |
|
|
and |
|
|
216.41 |
217.93 |
1.52 |
0.62 |
2.20 |
0.65 |
|
|
AR21-412R |
Moss vein |
45/-75 |
105.16 |
117.35 |
12.19 |
0.37 |
4.29 |
0.43 |
|
|
East Road |
AR21-413R |
Qtz stockworks |
140/-45 |
no significant results |
|||||
|
AR21-415R |
Qtz stockworks |
140/-65 |
no significant results |
||||||
|
AR21-417R |
Qtz stockworks |
140/-80 |
152.40 |
153.92 |
1.52 |
0.34 |
15.80 |
0.55 |
|
|
and |
|
|
175.26 |
176.78 |
1.52 |
0.40 |
19.60 |
0.67 |
|
|
and |
|
|
181.36 |
182.88 |
1.52 |
1.42 |
45.00 |
2.02 |
|
|
AR21-424R |
Moss vein |
320/-80 |
73.15 |
94.49 |
21.34 |
1.98 |
23.75 |
2.30 |
|
|
including |
|
|
74.68 |
77.72 |
3.05 |
5.97 |
40.05 |
6.50 |
|
|
including |
|
|
83.82 |
86.87 |
3.05 |
3.61 |
44.60 |
4.20 |
|
|
and |
|
|
108.20 |
115.82 |
7.62 |
0.34 |
3.90 |
0.39 |
|
|
AR21-425R |
Moss vein |
320/-60 |
39.62 |
62.48 |
22.86 |
1.32 |
17.43 |
1.55 |
|
|
including |
|
|
50.29 |
57.91 |
7.62 |
3.39 |
37.34 |
3.88 |
|
|
and |
|
|
74.68 |
76.20 |
1.52 |
0.46 |
20.70 |
0.73 |
|
|
and |
|
|
83.82 |
85.34 |
1.52 |
0.61 |
10.80 |
0.75 |
|
|
and |
|
|
103.63 |
105.16 |
1.52 |
0.79 |
6.80 |
0.88 |
|
|
Note: True thickness ranges between approximately 46% of the reported interval thickness for subvertical drilling and 99% for drilling inclined at -45 degrees to the Ruth vein. Assay data are uncapped. 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 three field control samples approximately every 20 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. |
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 MINING CORP
"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.
