September 12th, 2019,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 totaling 3,431 gold equivalent ounces (3,091 ozs gold and 25,529 ozs silver) during the month of August at the Moss Gold Mine, located in Northwest Arizona.
Production Results for the Months Ended March 31, 2019 to August 31, 2019:
|Production for |
the Months Ended
March 31, 2019
April 30, 2019
May 31, 2019
June 30, 2019
July 31, 2019
August 31, 2019
Gold equivalent ounces
*Gold to Silver Ratio 75:1
Kenneth Berry, President and CEO, states: “We are pleased to report another production record at the Moss Mine and are delighted to be setting records in this higher gold and silver price environment. Increased production during the last six months is attributable to improved operational controls, modifications to the Merrill Crowe facility and heap-leach pad solution management. Our operations team has delivered on our promises and I look forward to updating our shareholders and stakeholders in due course as we pursue further mine optimization opportunities. Future production and financial results will be disclosed on a quarterly basis moving forward.”
A reverse circulation (RC) in-fill drill program is underway on permitted drill sites on the Western Extension resource area, which is within the current pit of the Moss Mine to expand and confirm the current resource. This program is expected to consist of 29 holes totaling approximately 4,300 meters. The program is intended to run until November at which time assays will be completed and results will be released to the market.
Sustainability Initiatives – Power. We are fully permitted to construct a powerline to site and are advancing discussions with Mohave Electric to have the powerline constructed and operational. We are aiming to have the powerline to site by the second calendar quarter of 2020. As the Moss Mine is currently powered via diesel generators, the powerline has the potential to cut emissions by 90% and reduce power costs by up to $200,000 per month.
Sustainability Initiatives – Water. Water stewardship is a key element of our environmental commitment. We source 100% of our water from local wells and have had continued success in identifying and drilling wells on our patented ground. Trucking water from off-site wells in Bullhead City is no longer required due to successful site well drilling and the water conservation program initiated by our process management team. The continuing water conservation program is targeted at reducing water consumption to 60% of the quantities outlined in the Feasibility Study. The Process team, by designing and implementing a rotating irrigation plan, has been able to utilize the drawdown of pore water in the non-irrigated sections of the heap to supplement fresh-water requirements. The Moss Mine is a closed-circuit heap-leap operation with zero discharge.
Air Quality - Recently, the mandated Arizona Department of Environmental Quality (DEQ) stack emissions tests were conducted by a DEQ approved contractor on the crusher and Merrill Crowe facilities. Emissions were between 2% - 6% of allowable limits in certain areas of the crusher and 1% of allowable limits in the refinery.
Optimizations & Cost Control. The in-heap trenching program discussed above consisted of taking multiple samples from the heap leach pad down to a depth of 20 feet. This program indicated excellent permeability (indicating faster gold leach cycle) and gold recoveries (at or above feasibility study estimates) from our heap leach pad. On the back of this work, we are investigating the opportunity to adjust the crush size delivered to the pad to increase from 80% less than 1/4” to 80% less than 3/8”. Preliminary test-work has returned positive and subject to final test-work, this would provide significant cost savings. As well, operating improvements at our Merrill Crowe facility indicate we can reduce zinc consumables by a significant amount. Management continues to identify areas for additional cost savings which will further widen our operating margins in the strong gold price environment.
Permitting – Phase III Mine Plan of Operations (“MPO”). The MPO (Final) was submitted to the Kingman Field Office (KFO) of the BLM in the first week of July 2019. Approval of the MPO (Final) will allow the Company to expand its current operation (which is on patented ground) to the surrounding BLM ground, which is expected to extend mine-life by approximately 5 years. The BLM conducted a public open house scoping meeting on August 28th, 2019 in Bullhead City which was a success. Scoping is the process by which the BLM solicits input on issues, impacts, and potential alternatives to be addressed in the environmental analysis document for the proposed expansion of the Moss Mine onto public lands. There has been a high level of communication between the Company’s Environmental Consultants and the BLM Resource Specialists from both the Kingman and Lake Havasu Field Offices to address, explain and propose mitigation opportunities regarding concerns about potential impacts of the Company’s proposed expansion. The Company expects to receive approval for the Phase III MPO in the first calendar quarter of 2020.
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).
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 with over 200,000 ounces of gold production annually.
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.
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.