July 25, 2018, Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V: NEE) (OTC-Nasdaq Intl.: NHVCF) (the “Company” or “Northern Vertex”) is pleased to announce gold and silver production results for the month of June at its 100% owned Moss Mine, located in NW Arizona.
Kenneth Berry, President and CEO, stated: “The efforts of our operational team have once again accomplished another solid month of achieving increased production and recoveries that continue to meet or exceed the design specifications of the mine as we approach the milestone of commercial production.”
Operating Results for June 2018 and Year to Date
|June 2018||Year to Date|
|Ore mined (tonnes)||122,287||457,464|
|Waste mined (tonnes)||128,708||627,681|
|Crushing Plant and Leach Pad|
|Tonnes stacked per day (average)||4,208||2,714|
|Tonnes stacked per hour (average)||478||397|
|Contained gold ounces stacked||3,137||11,520|
|Contained silver ounces stacked||21,204||98,880|
|Gold grade (g/t)||0.77||0.87|
|Silver grade (g/t)||5.22||7.46|
|Gold produced (ounces)||1,374||3,029|
|Silver produced (ounces)||4,875||9,542|
- June production of 1,374 ounces of gold and 4,875 ounces of silver exceeds May’s production of 1,276 ounces of gold and 3,556 ounces of silver. The Company expects production to significantly improve over the next couple of months as ramp up to commercial production continues.
- Crushing Crew recorded another "best shift" in the month of June with 6,279 tonnes and "best day" of 11,367 tonnes of ore crushed and stacked; improving on May’s crushing of 5,297 tonnes (best shift) and 8,261 tonnes (best day). The best five-day period in the month of June recorded 48,896 tonnes being processed. These operational numbers surpass the Feasibility Study projections of reaching 3,500 tonnes per day (“tpd”) in month seven from start-up of themine followed by a tonnage increase to 5,000 tpd in month thirteen through the end of the mine life.
- Tonnes stacked and crushed per day increased to 4,208 in June from 3,100 in May resulting in an improvement of 36% month over month
- Leaching process continues to improve and ounces processed are being recovered at a faster rate than the 100-day leaching cycle time period as set out in the Company’s feasibility study.
About Northern Vertex Mining Corp.
Northern Vertex Mining Corp., the newest gold producer in the US, is focused on low cost gold and silver production at its 100% owned Moss Mine in NW Arizona. The Company’s management is comprised of a seasoned team with strong experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. Northern Vertex is dedicated 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.
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).
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
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.
The information in this news release has been prepared as at, July 24, 2018. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms, and include, without restriction, statements regarding the completion of the Private Placement and the proposed use of the proceeds of the financing.
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. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based More particularly, this release contains statements concerning the closing of the second tranche of the Private Placement and the anticipated use of the proceeds of the financing. There can be no assurance that the second tranche of the Private Placement will complete within the anticipated timelines or complete as contemplated or at all, or that the proceeds of the financing will be used as anticipated. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
This news release refers to the Company's NI 43-101 compliant Technical Report, Preliminary Economic Analysis, Extended Mine Life, with an effective and SEDAR filing date of November 22, 2017 (the “PEA”) prepared by MineFill Services Inc. and M3 Engineering and Technology with the assistance of other independent consultants as disclosed in the PEA. The PEA sets out the technical and economic viability of extending the Moss mine to include resources onto the Company’s adjacent un-patented mining claims. The Company cautions that the PEA is preliminary in nature in that it is includes Inferred Mineral Resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company also refers to its NI 43-101 Technical Report Feasibility Study, “Mohave County Arizona” prepared by MineFill Services, Inc. and M3 Engineering and Technology Corporation, with an effective date June 8, 2015.
2018 number 14