CONSTRUCTION UPDATE: PACE OF EQUIPMENT DELIVERIES ACCELERATES
"The Moss Mine Gold/Silver Project Scheduled for Production in Q4, 2017"
VANCOUVER, Aug. 14, 2017 /PRNewswire/ - Northern Vertex Mining Corp. (TSX.V:NEE) (OTC:NHVCF)(the "Company" or "Northern Vertex") is pleased to provide the following update on construction activities at its 100% owned Moss Mine project located near Bullhead City, Arizona.
Kenneth Berry, President and CEO, stated: "Our team continues to execute its development plan to become the next producing Arizona Gold Mine. I would like to recognize the contributions of Dr. David Stone (Project Manager), Joseph Bardswich, P.Eng (President, Golden Vertex), M3 Engineering, Golder Associates, N.A. Degerstrom, Goodfellow Crushers, KPI/JCI, Great Basin Industrial and the numerous other US based companies for their diligent efforts and fiscal responsibility toward achieving our goal of pouring gold in Q4, 2017."
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Moss Mine – Construction Progress
Great Basin Industrial continues to make good progress in the concrete works for the Merrill Crowe and refinery areas. The columns for the refinery building have been poured along with the sumps under the filter presses. In the Merrill Crowe area GBI has completed the tank pedestals and containment walls for the solution tanks. The foundation ring for the fire water tank has been poured and it ready to receive the tank steel. The concrete foundations for the crushing plant are scheduled to commence next week.
Structural, Mechanical and Piping (SMP)
The SMP contract for the Merrill Crowe and Refinery areas has been awarded to Great Basin Industrial and this work is expected to commence in about 2 weeks.
Electrical and Instrumentation (E&IC)
The E&IC contract for the Merrill Crowe and Refinery areas has also been awarded to Great Basin Industrial and this work is expected to commence in mid-September.
Decommissioning of the Pilot Plant ("Phase I") Heap and Ponds
The decommissioning activities at the Phase I pilot heap and ponds are nearing completion. The spent ore from the Phase I pilot heap is 90% unloaded, and this material is now being incorporated into the leach pad as a liner bedding layer. The Phase I ponds have been completely dismantled and the liners have been disposed of. The ponds have been filled in and the area is now being regraded for Phase II.
Phase II Heap and Ponds
The heap leach earthworks are advancing in two areas: the west pad and the east pad. The west pad is essentially complete with final grading, and the liner bedding placement is well advanced. The east pad work consists of rough grading. The leach pad grading is expected to be complete in mid-September.
American Environmental Group ("AEG") has finished the liner installation in the West Event pond with 81,500 sq/ft installed and QC is complete . The focus is now the leach pad liner in the west pad area. Progress to date is 112,000 of 310,000 sq/ft installed. AEG is expected to be onsite until the end of September. A QA/QC technician from Golder Associates is onsite to inspect the completed liner and earthworks.
Twelve truckloads of crusher components have arrived at the project site. The deliveries to date include 2 K500 tertiary cone crushers, a 115 ft long product conveyor, support frames, conveyor bents, decking, ladders, and ore chutes. Additional shipments are due weekly until the end of August.
The Westpro Manufacturing agglomeration drum arrived at site on August 7, and Westpro has advised the cement silo is ready to ship.
Moss Mine Optimization Program
Powerline & Infrastructure Optimization Program
The optimization program continues with emphasis on obtaining the Right of Way (ROW) permits for optimized power delivery and road improvements from the BLM. The BLM has expressed minor concerns with certain aspects of the project as proposed. The working relationship has been co-operative, and steps were undertaken by the company to address the concerns. Minor design changes were made by Civil Works Engineering for the Moss Mine Access Road Re-construction Project and by AMEC Foster Wheeler on the Powerline to lessen environmental impacts and to avoid certain areas.
Now that the powerline re-design has been completed, each pole location will be staked out in the field to assist in the background surveys required for the Environmental Assessment document. Westland Resources Inc. has already completed a substantial portion of the extensive work required for the Cultural Inventory Surveys and the Biological Surveys.
The company is very appreciative of the support shown by the local Community for the Moss Mine Re-activation and for the powerline and road re-construction projects. Most recent was the passing of a resolution by the Bullhead City Council on July 20, endorsing the two projects and encouraging the BLM to expedite the process.
Mine Life Extension
The Company is preparing an updated report which will analize the technical and economic viability of extending the Moss Gold Mine. The Moss Mine project is scheduled to commence commercial gold-silver production in Q4 2017. A Feasibility Technical Report (see news release dated July 23, 2015) estimated Capital Cost at US$33m, Annual Production of 42,000 AuEq ounces, gold equivalent cash costs of US$514.27, All-in Sustaining Costs of US$624/oz gold and an After-tax IRR of 44% (based on $1,250/oz gold and $20/oz silver).
The foregoing technical information contained in this news release has also been reviewed and verified by Mr. Joseph Bardswich, P.Eng.,President, Golden Vertex Corp., and a Qualified Person ("QP") for the purpose of National Instrument 43-101 (Disclosure Standards for Mineral Projects). Mr. Bardswich is a director of the Company.
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 Project located in NW Arizona, USA. To the best of management's knowledge, Northern Vertex is the next publicly traded company to initiate gold and silver production scheduled for Q4 2017 in the USA. 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
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.
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 scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. 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. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. To the best of management's knowledge, Northern Vertex is the next publically traded company to initiate gold and silver production scheduled for Q4 2017 in the USA. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
SOURCE Northern Vertex Mining Corp.