Northern Vertex Announces Phase 1 Drilling Program Intercepts 22.86 Meters Grading 3.09 gpt Gold Eqv; Including 12.19 Meters Grading 5.02 gpt Gold Eqv
VANCOUVER, Aug. 16, 2011 /PRNewswire/ - Northern Vertex Capital Inc. (TSX.V:NEE) ("Northern Vertex") is pleased to announce results from an additional 7 holes of its 27,000 foot drilling program on the Moss Gold-Silver Project situated in the historic Oatman Mining district in Mohave County, Northwestern Arizona.
States Northern Vertex Chief Geologist Dr. Bob Thompson. "We are very pleased and encouraged with current assays from drilling that continue to meet or surpass historical drill results where 30 to 50 meter intervals of 1+ gram gold were reported. Significantly, six of the seven holes (table below) returned intersections of 1+ gpt Au equivalents, and the 3+, 4+ and 5+ gpt intervals portend high-grade zones within the deposit, further demonstrating the consistently and geologically robust nature of the Moss epithermal gold-silver system."
Assays received from holes 22 through 28 further validate and build on results reported May 19th, June 22nd and July 21st (2011) for the first 21 holes of the phase 1 program.
Phase 1 drill results will be used in conjunction with the 305 historical holes previously drilled on the property between 1982 and 2008 to calculate an indicated resource that is NI 43-101 compliant.
| Metric | Imperial | ||||||||||
| Hole ID | Interval (Intvl) (m) |
Grade *AuEq (gpt) |
From (m) |
To (m) |
Au (gpt) |
Ag (gpt) |
True Width (M) |
|
Intvl (ft) |
Grade *AuEq (opt) |
True Width (ft) |
| AR-91R | 39.62 | 1.18 | 6.1 | 45.72 | 0.82 | 14.5 | 35.9 | 130 | 0.034 | 117.8 | |
| including | 21.33 | 1.82 | 6.1 | 27.43 | 1.25 | 22.8 | 19.3 | 70 | 0.053 | 63.4 | |
| including | 4.57 | 4.97 | 22.86 | 27.43 | 3.46 | 60.5 | 4.1 | 15 | 0.145 | 13.6 | |
| AR-92R | 19.81 | 1.8 | 19.81 | 39.62 | 1.19 | 24.3 | 18 | 65 | 0.052 | 58.9 | |
| including | 7.62 | 3.1 | 32 | 39.62 | 2.05 | 42.2 | 6.9 | 25 | 0.091 | 22.7 | |
| AR-93R | 3.05 | 3.11 | 30.48 | 33.53 | 2.06 | 41.7 | 2.8 | 10 | 0.091 | 9.1 | |
| AR-95R | 28.96 | 0.41 | 32 | 60.96 | 0.22 | 7.4 | 26.2 | 95 | 0.012 | 86.1 | |
| including | 3.05 | 1.07 | 57.91 | 60.96 | 0.54 | 20.9 | 2.8 | 10 | 0.031 | 9.1 | |
| AR-96R | 12.2 | 1.02 | 54.86 | 67.06 | 0.88 | 5.4 | 6.1 | 40 | 0.03 | 20 | |
| AR-97R | 25.9 | 1.04 | 28.96 | 54.86 | 0.82 | 8.9 | 13 | 85 | 0.03 | 42.5 | |
| including | 10.67 | 1.81 | 38.1 | 48.77 | 1.44 | 14.9 | 5.3 | 35 | 0.053 | 17.5 | |
| AR-98R | 22.86 | 3.09 | 15.24 | 38.1 | 2.55 | 21.6 | 21.5 | 75 | 0.09 | 70.5 | |
| including | 12.19 | 5.02 | 21.34 | 33.53 | 4.22 | 32 | 11.5 | 40 | 0.146 | 37.6 | |
* AuEq (gpt) = Au (gpt) + 1/40th Ag (gpt)
* Estimated True Width calculated using 70 degree dip to zones of mineralization, it ranges from 40 to 94%;
* opt = troy ounces / short ton
*gpt = grams / metric tonne
The foregoing geological disclosure has been reviewed Dr. Bob Thompson, PhD P.Eng (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects).
For full QC/QA procedures please visit www.northernvertex.com/QCQA.html
For complete drill results and estimates please visit www.northernvertex.com/extras/drillresults.pdf
Northern Vertex is a gold exploration and development company operating principally in the United States and Canada. The Company comprises an experienced management group with a strong background in all aspects of acquisition, exploration, development and financing of precious metal mining projects. The Company's stated mandate is to acquire, develop and advance asset-based gold projects that demonstrate near term production potential and long-term sustainable growth.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Joseph Bardswich"
Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
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, 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.
SOURCE Northern Vertex Inc.
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