October 15, 2020, Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V: NEE) (OTC Nasdaq Intl.: NHVCF) (the “Company” or “Northern Vertex”) is pleased to announce additional high-grade gold and silver drill results have been received from its multi-phase resource expansion program (the “Program”) at the Moss Mine, located in NW Arizona. Most notable results from this round of drilling include:
- Strike length of Ruth Vein extended for 150 meters and the drilling continues to confirm continuity of mineralization for +650 meters with potential for high-grade ore shoots running parallel to our producing Moss Mine Central Pit.
- Drilling discovered an unexpectedly thick stockwork mineralized area surrounding the Ruth Vein; specifically hole AR20-315R returning an interval of 109.8 meters from 184.5 meters to the bottom of the hole @ 0.79 gpt gold and 24.40 gpt silver including intervals of 15.25 meters of 1.75 gpt gold and 41.10 gpt silver and 15.25 meters @ 1.85 gpt gold and 85.10 gpt silver
- Two RC drill rigs are currently supporting the multi-phased exploration and resource expansion program.
- Ruth Vein high-grade intercepts are typical of mineralized shoots mined in the Oatman District.
Ken Berry, President & CEO stated: “In addition to the success of high-grade gold and silver results from the previously untested Ruth Vein, we are extremely encouraged with the widespread mineralized intercepts encountered at the Gold Bridge and the Gold Tower zones, located directly adjacent to the producing Moss open pit mine. The recent success of our current drill program supports our objective to significantly expand the Moss Mine resource base. The positive drill results achieved from the Ruth Vein and its proximity to the Moss Vein open pit makes it an important target for further testing the possibility of additional resources, pit expansion and mine life extension.
Ruth Vein Drilling
The Ruth Vein strikes subparallel to the Moss Vein, dips to the north into the south-dipping Moss Vein and crops out approximately 150 meters south of the active Center Pit. Click the link to view a plan map showing the location of the Ruth Vein (figure 1).
Recent drilling of the Ruth vein has focused on following up high-grade vein intercepts in holes AR20-286R and AR20-313R (see news release dated September 9, 2020); increasing the known strike length and confirming continuity of mineralization along strike and down dip of the vein. Drilling has now intersected the Ruth Vein over a strike length of approximately 650 meters; and the vein remains open both to the east and to the west. In addition to confirming continuity of narrow high-grade gold and silver mineralization in the vein as evident in holes AR20-312R returning 6.1m @ 5.18 gpt gold, 37.4 gpt silver at 94.6m and AR20-306R returning 4.6m @ 5.62 gpt gold, 57.6 gpt silver at 89.9 m; recent drilling has unexpectedly discovered thick stockwork mineralization surrounding the Ruth Vein in many places. Hole AR20-307R intersected 22.9m @ 1.107 gpt gold and 14.9 gpt silver surrounding a suspected stope mined through the vein, and hole AR20-310R drilled 18.3m @ 1.02 gpt gold and 26.5 gpt silver.
Intersection of the Ruth and Moss veins was tested by hole AR20-315R, which drilled the Ruth Vein approximately 185 meters beneath the surface and then intersected the Moss Vein at approximately 274 meters down hole. Here, very thick zone of quartz stockwork veining was encountered between the two veins and intercepted:
- 109.8 meters (from 184.5m to 294.3m) @ 0.79 gpt gold and 24.41 gpt silver
- including 15.25m (from 196.7m to 212.0m) @ 1.75 gpt gold and 41.10 gpt silver
- and including 15.25m (from 274.5m to 289.8m) @ 1.85 gpt gold and 85.10 gpt silver
Click the link to view a cross section of hole AR20-315R (figure 2)
A north-south fence of drill holes AR20-315R, AR20-314R and AR20-313R demonstrate continuity of gold-silver mineralization along a down-dip length of approximately 274 meters on the Ruth Vein from the surface to the Moss Vein intersection.
Internal modelling indicates the intersection between the Moss Vein and the Ruth Vein may become shallower on strike to the east. Additional drilling is underway to target the untested intersection along strike. Discovery of thick mineralization along this extensive zone of structural preparation could lead to a future expansion of the Moss open pit mine to depth.
Ruth Vein Extensions
The Ruth Vein out-crop can only be traced on surface for about 170 meters along strike, however scattered historic prospect pits have exposed veining for another 320 meters to the west. Similar scattered vein exposures could be followed for about 220 meters to the east, giving the vein a surface expression of approximately 710 meters. A north-dipping vein in the hanging wall of the Moss Vein outcrops on surface east of the current pit limit, roughly one kilometer farther east of the last indication of the Ruth Vein, and extends for a minimum of 250 meters to the east. This vein is similar to the Ruth vein in width, texture, orientation, and position relative to the Moss vein. The area between the two veins is characterized by scattered veins and stockworks and likely correlates with the Ruth vein. As a result, this vein has been named the East Ruth Vein.
The Gold Tower target consists of a broad zone of stockwork veining south and west of, the West pit, which is currently being pioneered and expected to deliver ore in mid-October. Recent drilling at Gold Tower has extended stockwork mineralization further to the south and west, with several thick zones intersected in many holes, including AR20-300R, which returned:
- 48.8 meters (from 38.1 to 86.9 meters) @ 0.74 gpt gold & 4.19 gpt silver
- Including 7.6 meters (from 74.7 to 82.4 meters) @ 1.36 gpt gold & 5.56 gpt silver
- And 35.0 meters (from 161.7 to 196.7 meters) @ 0.59 gpt gold & 11.37 gpt silver
- Including 4.5 meters (from 192.2 to 196.7 meters) @ 2.84 gpt gold & 48.73 gpt silver
In addition to the stockwork mineralization, some higher-grade veins have been drilled within the stockwork, such as AR20-293R, containing a vein assaying 9.15m @ 2.40 gpt gold and 2.78 gpt silver.
The Company continues to evaluate recent assay results received for the 15 holes, including 10 from the Gold Tower area and 5 holes from the Ruth Vein area, while refining the mineralization models. Drilling remains ongoing with two reverse circulation drill rigs focusing on the expansion of the Ruth Vein, stepping-out to the east and in-filling on-strike and down-dip.
Detailed Drill Results
Samples of drill cuttings were collected by the drilling crew using a wet rotary splitter to ensure a representative sample of each five-foot interval. Field notes were recorded for each sample documenting what was sampled and how the sample was taken. Samples were collected in bags with a sample tag inserted and delivered to a secure on-site location prior to pick-up by Skyline Labs, a commercial laboratory in Tucson, Arizona. Skyline Labs is an ISO 9001:2008 qualified assay lab that uses and makes available internal assaying controls. Quality control consisted of one certified gold standard, one blank, and one duplicate sample inserted into every 20 samples submitted to Skyline Laboratories.
At the lab, rock samples are dried, crushed and pulverized to 85% passing through a 200-mesh sieve. The pulps are assayed for gold using a 30 g split, Fire Assay (FA) and Atomic Absorption (AA) finish. Over limit assays for both gold and silver (10 gpt for gold and 100 gpt for silver) were rerun using a gravimetric procedure. Rejects and pulps are stored at Golden Vertex’s warehouse in Bullhead City for future reference.
The foregoing technical information contained in this news release has also been reviewed and verified by Mr. Joseph Bardswich, P.Eng., a director of the Company and a Qualified Person (“QP”) for the purpose of National Instrument 43-101 (Disclosure Standards for Mineral Projects).
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.
About Northern Vertex Mining Corp.
Northern Vertex Mining Corp. is focused on low cost gold and silver production at its 100% owned Moss Mine in NW Arizona. The Company has experience across all areas of operations, mine development, exploration, acquisitions, and financing of mining projects. With operations at the flagship Moss Mine achieving commercial production the Company intends to consolidate additional producing or near-term production gold assets within the Western US. Through mergers and acquisitions Northern Vertex’s corporate goal is to become a mid-tier gold producer.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
President & CEO
For further information, please visit www.northernvertex.com or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798
Cautionary Note Regarding Forward-Looking Statements:
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. 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.
2020 number 19