Vancouver, B.C. - Northern Vertex Capital Inc. (TSX.V:NEE) ("Northern Vertex") is pleased to announce results from the final 20 holes of its 27,000 foot (8,300 meter) infill drill and resource definition program on the Moss Gold-Silver Project situated in the historic Oatman Mining district in Mohave County, Northwestern Arizona.
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.
States Northern Vertex Chief Geologist Dr. Bob Thompson. "We are very pleased and encouraged with current assay results. As was the case in the previous 38 holes of the program, assays continue to consistently meet or surpass historical drill results where 20 to 50 meter intervals of 1+ gram gold were reported. The numerous 20+ meter intersections of 1.5 -- 2.5 gpt values demonstrate the deposit has remarkably uniform gold distribution both along strike and down dip, while maintaining its strength to depth, creating the opportunity to mine at even greater depths than originally envisioned. We believe the phase 1 program has provided excellent data to allow calculation of a 43-101 compliant resource".
Northern Vertex reports Colorado-based engineering firm Scott Wilson Consulting Inc. is currently conducting an Independent 43-101 Resource Calculation on the Moss Gold-Silver Project. Results from the independent study are expected to be released imminently.
|Hole ID||Interval||Grade *AuEq||From||To||Au||Ag||True Width||Interval||Grade *AuEq||True Width|
* 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 90%;
* opt = troy ounces / short ton
* gpt = grams / metric tonne
* Assumes 100% metallurgical recovery
Baseline and Scoping Studies Ongoing. Schlumberger Water Services (SWS) is currently conducting an initial scoping level work plan for environmental permitting, hydrogeology and engineering services as part of the permitting process required for open pit mining at the Moss property. In keeping with the Company's objective to fast-track development of the Moss Gold-Silver Project, included in the work plan, Schlumberger will provide Northern Vertex with a detailed summary of the permit acquisition process costs and schedule for future mine development and budgeting purposes.
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).
Through a joint-venture agreement with Patriot Gold, Northern Vertex has a right to earn up to a 70% undivided interest in the Moss Gold-Silver Project.
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
For further information, please visit www.northernvertex.com
or contact Colin Clancy at Telephone: 604-601-3656
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
2011 number 19