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Northern Abitibi Announces 2011 Exploration Plans for Viking
3/17/2011 9:00:02 AM - Market Wire
CALGARY, ALBERTA, Mar 17, 2011 (Marketwire via COMTEX News Network) --
Northern Abitibi Mining Corp. ("Northern Abitibi") (TSX VENTURE:NAI) is pleased to announce its plans for a 2011 exploration program to advance the company's wholly owned Viking gold property in Newfoundland.
The goal of the 2011 exploration program will be to maximize high grade resources along the Thor Trend, identify additional areas on the claim block where resources can be defined, test a number of new structural targets on the Viking property and ultimately obtain an updated resource estimate. The proposed exploration contemplates a minimum of 3500 meters of drilling to expand and infill the current resource base along with trenching, mapping, induced polarization geophysical surveying, and possibly small scale bulk sampling.
Most of the high grade zones within the Thor Trend were not specifically targeted during past drilling programs which were designed to evaluate the bulk minable potential of the system. Excellent potential to add significant additional high grade gold resources has been identified by specifically targeting higher grade zones within the deposit envelope and expanding them to depth and along strike. Drilling in 2011 will target these high grade zones and is expected to both add new ounces at low cost per ounce and significantly increase the average grade of the deposit.
A permit application for the proposed 2011 exploration program has been submitted and permitting approval is anticipated shortly. Surface exploration and drilling will commence in late May as snow conditions allow, and subject to availability of drills and drill crews.
The company is currently in discussions with various groups who have expressed an interest in funding further work to advance the Viking project during the 2011 field season. Details regarding financing of the proposed 2011 exploration program will be announced as they become available.
The Viking Property
The Viking Property contains numerous high grade veins within larger bulk tonnage style zones of gold mineralization located within a 3 to 4 kilometre long gold-in-soil anomaly. Drilling highlights include high grade intercepts of 5.75 metres grading 33.7 g/t gold, 3.7 metres grading 50.1 g/t gold, 0.5 metres grading 218.8 g/t gold as well as lower grade intercepts including 27 metres grading 7.9 g/t gold, 23.0 metres grading 5.1 g/t gold, and 57.4 metres grading 2.8 g/t gold. The Thor Trend contains an uncut Inferred Mineral Resource containing 131,511 ounces of gold and is located in the mining friendly jurisdiction of Newfoundland and Labrador and has excellent access and local infrastructure, with a paved highway and power line located less than one kilometre from the project. Northern Abitibi has a 100% property interest in the Viking project subject to a 2% to 4% sliding scale net smelter royalty held by Altius Resources. A detailed description of the Viking project is available on our website (www.naminco.ca).
Dr. Shane Ebert, P. Geo. is the Qualified Person responsible for the preparation of this news release.
Shane Ebert, President/Director
naminco.ca
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