|Vancouver, B.C. - Northern Vertex Capital Inc. (TSX.V:NEE) ("Northern Vertex") is pleased to announce results from a comprehensive surface sampling program designed to test the western extension of the Moss Gold-Silver Project situated in the historic Oatman Mining district in Mohave County, Northwestern Arizona.|
Assay results from Surface Sampling confirm significant Gold-Silver mineralization extends an additional 350 m (1,135 ft) west and on strike of the existing 1.5km (5,000 ft) mineralized Moss Gold/Silver Structure. The Moss Gold/Silver Structure is the focus of the Company's current 26,000 ft confirmation and infill drilling program.
States Northern Vertex Consulting Geologist Dr. Bob Thompson "We continue to target near-term production through an aggressive confirmation and infill drilling program aimed at confirming previous results from historic drilling conducted at Moss. We are very encouraged with results from sampling that confirm potential exists for a much larger gold-silver resource than originally anticipated".
"Importantly, the evenly distributed gold and silver mineralization encountered in surface samples suggests the Moss property hosts significant additional bulk tonnage potential in an entirely new area extending west of the project's 5000 ft stockwork gold-silver vein Structure". Adds Dr. Thompson
Northern Vertex is currently conducting a 25,000 ft drilling program on Moss utilizing both a diamond drill rig and a reverse circulation rig to confirm previous results reported from 305 historical holes drilled on the Moss property between 1982 and 2008. Confirmation and infill drilling will include an estimated 60 holes and is focused on the property's high priority stockwork gold-silver vein system that measures 45 feet thick and has been traced along a strike length of 5000 feet to an average depth of approx. 200 feet. The mineralized structure, which is hosted in low sulfidation epithermal veins, vein breccias and stockworks, remains open on strike and at depth.
Northern Vertex further reports the Company has recently successfully staked a host of additional claims contiguous to and surrounding the Moss stockwork gold-silver claim block. The Company has now increased its Moss land position from 2,400 acres to ~6,000 acres.
Surface Sampling Highlights (40 to 1)
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.
Of 65 (fire assay) analyses, 46 (71%) exceeded a hypothetical cut-off grade of 0.25 g/t gold: 3 ranged above 5.00 g/t (8.30 g/t average); 11 ranged between 1.25 and 5.00 g/t (2.34 g/t average); 1 ranged between 0.75 and 1.25 g/t; and 32 ranged between 0.25 and 0.75 g/t (0.48 g/t average). More important, these results are distributed across 150 m, evidence that the mineralized Moss stockworkvein system undergoes a significant increase in width (thickness) to the west. The samples consisted of grabs and composite grab samples the latter designed to provide an unbiased estimate of grade across a rock interval.
Total Samples during this program included more than 650, additional results are pending.
Staking Rush... Activities at the Moss Gold-Silver Project have stimulated additional staking in the area, highlighted by Silver Standard US Inc. staking adjacent claims in March and April of 2011. Northern Vertex has also staked additional claims adjoining the Moss Property. This is deemed expedient for two reasons: 1) other stockwork-vein systems like Moss exist in the vicinity; some have records of historical production whereas others are undrilled but have anomalous gold and silver at surface; in general they have not been evaluated in light of today's favorable precious metals market, or the advanced technology now used to explore for and mine precious metal deposits; and 2) given that Moss-like systems are epithermal and therefore occur at relatively shallow depths, there exists potential to discover additional nearby buried systems by applying remote sensing techniques. Hence a large land package is advantageous.
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 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
"Joseph Bardswich" Director
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 such statements.