Airborne Magnetics Survey Identifies Multiple Blue Sky Targets
21 Kms of Structural Strike Length Open For Exploration
Vancouver, BC - Northern Vertex Mining Corp. (the "Company") (TSX.V: NEE, OTCQX: NHVCF) is pleased to provide an update on the Company's property wide exploration plans and opportunities on its Moss Mine Gold-Silver property located in Mohave County, Arizona, USA.
Recent interpretation of an airborne magnetic survey carried out on the Company's Moss Mine property has shown that magnetics are effective in helping to map potential mineralized structures on the property -- the resulting surveys are attached. Both magnetic highs and lows correspond with known mineralized structures on the Company's property. Highlights of this interpretation are:
In conclusion, this new data, and the implications of its interpretation, indicate that the exploration potential of the Company's Moss mine property - with 21 kilometers of structure to be explored - is very good. Given that the Moss Mine structure contains 654,000 ounces of M+I AuEq (see below for a detailed breakdown and assumptions used) and 82,000 ounces of inferred (see below for the details and assumptions used) along 1500 meters of mineralized structure and that the United Eastern, Tom Reed and Gold Road mines produced over 2.0 million ounces along a combined strike length of approximately 2 kilometers of mineralized structure, the Blue Sky exploration potential of the Moss mine property can be considered highly prospective. The Company is designing an exploration programme to assess this potential to run concurrent with completion of the feasibility study and development of the Phase II -- Operations phase of the Company's business plan..
Dick Whittington, President & CEO Northern Vertex Mining Corp., states, "The Moss Mine property is in a highly prospective area for gold discoveries. This new data highlights the potential for further discoveries on the Company's Moss Mine property. This is pure "Blue Sky" right now but this type of airborne magnetics, along with site mapping, in a region of extensive historic workings, has been the foundation for many successful early stage exploration programmes."
Ongoing Activities:
The Company's operations currently focus solely on the leaching of gold from the pilot plant leach pad operation. The Company continues to exercise fiscal responsibility and has reduced costs, corporately and in the field, in order to preserve cash in the current market environment. Work on the Feasibility Study continues with the immediate focus on reviewing and enhancing the Company's block model based on the most recent drilling (see News Release dated October 17, 2013); and additional geological information made available as a result of the Company's Phase I -- Pilot Plant operations.
Qualified Persons:
The foregoing geological disclosure has been reviewed and verified by James McDonald, P.Geo. Mr. McDonald is a director of Northern Vertex. and a Qualified Person ("QP") for the purpose of National Instrument 43-101 (Disclosure Standards for Mineral Projects).
Moss Mine Mineral Resource Estimate:
The Moss Mine deposit 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 200 meters vertically. The Moss mineral resources as estimated in the Company's recent preliminary economic assessment as outlined in the Company's News Release dated June 18, 2013, are as follows:
| Resource Category | Au Eq*(oz) | Au (oz) | Ag (oz) | Tonnes | Grade | ||
|---|---|---|---|---|---|---|---|
| AuEq | Au | Ag | |||||
| (g/t) | (g/t) | (g/t) | |||||
| Measured | 419,000 | 345,000 | 3,688,000 | 12,611,000 | 1.03 | 0.85 | 9.10 |
| Indicated | 235,000 | 192,000 | 2,142,000 | 9,978,000 | 0.73 | 0.60 | 6.70 |
| M+I | 654,000 | 537,000 | 5,830,000 | 22,589,000 | 0.90 | 0.74 | 8.00 |
| Inferred | 82,000 | 66,000 | 801,000 | 3,957,000 | 0.64 | 0.52 | 6.30 |
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 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:
Photo Gallery
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington, President & CEO
For further information, please visit www.northernvertex.com
or contact Investor Relations at: 604-601-3656 or 1-855-633-8798
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.
Cautionary Note About Forward Looking Information
This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.
Cautionary Note to U.S. Investors: This news release uses the terms "Measured", "Indicated", and "Inferred" resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. U.S. investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
2014 number 03
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