Vancouver, B.C. - Northern Vertex Capital Inc. (TSX.V:NEE) ("Northern Vertex") is pleased to announce results from the first 9 holes of its 25,000 feet drilling program on the Moss Gold-Silver Project situated in the historic Oatman Mining district in Mohave County, Northwestern Arizona.
The Company reports results received from the first 9 holes demonstrates the thicknesses and grades encountered are compatible with and build on historical drill results where 20 to 50 m intervals of 1+ gram gold were reported. Requisite down hole post surveys were conducted on individual holes.
Stated Northern Vertex Consulting Geologist Dr. Bob Thompson "We are very encouraged with the grades and widths of mineralization encountered by the first 9 holes of our program. Confirmation of previous drill results forms an important component of the phase 1 program which is designed to verify, enhance and extend the limits of previously established precious metal mineralization. Importantly, Phase 1 drill results will be used, in conjunction with the 305 historical drill holes, to calculate an indicated resource that is NI 43-101 compliant".
Metallurgy and Environmental Studies Announced. Northern Vertex further reports the Company has retained the services of Kappes Cassiday and Associates (KCA) to provide metallurgical and environmental test work in support of the project's feasibility efforts. In addition, KCA will produce a scoping study generating preliminary flowsheet design, equipment sizing, infrastructure requirements, capital and operating costs and a project development schedule.
KCA, based in Reno, Nevada is considered best in class and has provided process metallurgical services to the international mining industry since 1972. KCA specializes in all aspects of heap leach and cyanide processing including laboratory testing, project feasibility studies, engineering design, construction and operations management.
|Hole ID||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||*AuEq (g/t)|
* AuEq (g/t) = Au (g/t) + 1/40th Ag (g/t)
Sampling, Assaying and QA/QC Samples were placed in labeled rice sacks and sealed. All samples were recorded, delivered and signed off at the ALS Chemex lab in Reno, Nevada. Further details of Quality Assurance and Quality Control procedures are posted on the Northern Vertex website.
The historic Oatman Mining District has produced over 2 million ounces of gold, mainly from high-grade underground operations. The Historic Moss Mine Property was the site of sporadic high-grade mining dating back to the late 18th century. Historic workings are evident throughout the property and the likelihood of finding additional bulk mineable ore is considered excellent.
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).
Northern Vertex has also issued an aggregate of 200,000 incentive stock options exercisable for a period of five years at $1.00 per share to Mr. Tiziano Romagnoli. Northern Vertex has appointed Mr. Romagnoli to its advisory committee. Mr. Romagnoli is a fund manager and investment adviser based in Geneva, Switzerland, with more than 20 years experience in the investment banking industry.
Northern Vertex is a gold exploration and development company operating principally in Arizona, U.S.A. and British Columbia, 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 precious metal 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 09