Northern Vertex Mining (NEE-V) March 24, '15 is pleased to provide an update on the Company's property wide exploration program on its Moss Mine Gold-Silver earn-in property and adjacent Silver Creek earn-in property, located in Mohave County, Arizona, USA. The program commenced in September 2014 (news release dated September 4th, 2014) with the objective of identifying and prioritizing areas for future exploration mapping, surface sampling and possible drilling.
Reconnaissance mapping followed by a rock chip sampling program, totaling 681 samples, was carried out to investigate a number of vein trends on Northern Vertex's unpatented claims surrounding the Company's flagship Moss Deposit. Initial coverage was focused on prominent quartz carbonate veins and breccia zones. A number of the aeromagnetic and structural trends noted in an earlier news release (dated April 1st, 2014) were tested while others still remain to be sampled. The locations of key areas where the discoveries have been made are shown on the attached map (click to display) and are described in the text below. Key Assay results can be accessed via this link (Full Table of Results). Highlights of this program to date are:
- A significant number of samples returned gold mineralization, with assays in excess of 1 gpt being recorded in numerous samples. The highlights being:
| Sample_ID | Area | Sample Type | Au gpt | Ag gpt | | 229184 | Oatman Extension | chip | 7.47 | 40.5 | | 173325 | Oatman Extension | chip | 6.38 | 44.4 | | 213195 | Silver Creek Spring | grab | 5.42 | 76.1 | | 213364 | Silver Creek Spring | grab | 3.57 | 231.6 | | 230217 | Old Timer | grab | 20.26 | 14.4 | | 213134 | Old Timer | chip | 9.19 | 48.2 | | 213010 | Grapevine | chip | 18.17 | 6.4 | | 213293 | Grapevine | grab | 2.4 | 2.1 | | Note - These results are indicative of auriferous content on a local scale only and do not represent indications of system wide or vein based mineralization. |
- Several of the previously identified structures (see news release dated April 1st, 2014) have been shown to be mineralized over significant strike lengths, as follows:
- The prominent aeromagnetic feature near the southern boundary of the Moss claim block is interpreted to be a westerly continuation of the structural trend that hosts the Gold Road Deposit (after Ransome, 1923 and Dewitt, 1991). Gold Road produced 484,000 ounces at 10 gpt between 1897 and 1942 (Clifton et al, 1980). Sampling of a quartz carbonate brecciated zone on the "West Oatman" vein (see Figure 1) - showed a large number of samples with grades higher than 0.50 gpt over an area 270m x 50m in plan.
- A sub-parallel structure located 420m to the north of the above zone -- the "Silver Creek Spring' vein (see Figure 2) - shows a number of samples grading in excess of 1 gpt over a strike length of 1320m.
- Additional quartz-carbonate veins - termed The "Old Timer" trend - to the northwest of the Moss Deposit (see Figure 3) - shows a number of samples grading in excess of 0.5 gpt over a strike length of 930m.
- Airborne geophysics has been very effective in highlighting potential structures for exploration. Most structures mapped and sampled to date conform to the aeromagnetic trends outlined in the Company's April 1st 2014 news release. http://www.northernvertex.com/i/pdf/thumbs/2014-04-01-FIG2.jpg
- A number of additional aeromagnetic and vein trends remain to be mapped and sampled and others require follow-up sampling. These will be followed up at a later date.
- Results to date indicate that a low sulphidation, epithermal, depositional model applies to the vein systems outlined to date, similar to the Moss deposit and those exploited at Oatman. The Oatman deposits are low sulphidation deposits and are similar to the Midas deposit, the Hollister deposit and others.
Dick Whittington, President and CEO, states: "These results are very encouraging. It is unusual to have so many rock chip samples run to grades of 1 gram per tonne in such an early stage field exploration program. We will be refining our interpretation of the results to date, in order to develop a plan to do additional mapping and sampling on the untested aeromagnetic vein trends highlighted in the Company's April 1st, 2014 news release. Ultimately, a property wide exploration drill program will be carried out to test the promising exploration targets highlighted to date."
Outline of Mapping and Sampling Program
Reconnaissance mapping of vein structures and alteration mapping on the unpatented Moss claims and Silver Creek property commenced September 3, 2014. Northern Vertex field work was augmented by previously published mapping (C. Ferguson, 2009) which was useful for assessing lithologies, veins or levels of alteration. Rock chip sampling commenced on September 13, 2014.
Mapping was focused on identification of persistent epithermal veins and stockwork zones. Several vein structures have been mapped including the "West Oatman" and "Silver Creek Spring" veins and the historic "Old Timer" vein. Alteration mapping in the "Grapevine and Florence Hill" areas of the Silver Creek claims has also been carried out.
Sampling has concentrated on the "West Oatman", "Silver Creek Spring" and "Old Timer" veins as well as some silica bodies within the "Grapevine" and other areas (click to display map link). A total of 681 composite and select rock-chip samples have been collected to date.
The key target areas outlined during the program to date are:
- The West Oatman Vein System - This vein system is defined by a fault striking N70W mapped for a distance of 4.5 kilometers. Three separate sections of the vein have been identified -- the West Oatman Main, the West Oatman East and the West Oatman West, for a combined strike length of 1.6 kilometers. These are similar to the Moss vein system with both well developed veins and quartz-calcite breccia stockwork zones. Click two pictures to view: picture 1 , picture 2
- The Silver Creek Spring Vein System - This vein system trends N80W for 1.2 kilometers and contains several historic shafts and surface diggings. Surface exposures are up to 5m wide. Click here: picture 3
- The Old Timer Vein System - This historic vein system has a strike length of 1.0 kilometers, trending S80E. It is a series of en echelon veins that appear to splay off the NNW-trending Canyon Fault similar to what we see at the Moss deposit.
- The Grapevine and Florence Hill Area/System - The Grapevine and Florence Hill areas consist of a series of silica-capped hills underlain by strongly clay altered volcanic rocks. The silica caps are replacements of host volcanic rocks Quartz veins are rare, but some narrow veins have highly anomalous gold values. (See highlight table above) Preliminary mapping shows that NNE to NNW-trending silicified ribs cut the strongly clay altered volcanic rocks. Anomalous gold, molybdenum and fluorine values were detected in the silica ribs in previous work. Although additional work is needed preliminary indications are that surface alteration and mineralization is at a high level in the epithermal depositional system. The boiling or gold zone could be at some depth below the surface rock exposures.
Assay Results to Date
The systems highlighted above were the subject of a 681 rock-chip sampling program. The samples were collected by professional prospectors with the objective of evaluating the lithology, mineralogy and structure of the identified vein systems both along and across strike. A significant number of samples showed evidence of gold mineralization with a portion having gold grades in excess of 1 gpt indicating that a number of vein exposures on the property are auriferous at surface with others showing alteration and trace elements that indicate their surface expression is above the boiling zone where gold might be found in the system.
The key assay results can be found by accessing this link: (Full Table of Results).
Future Work
Due to the success of the current program in outlining areas of high potential for future exploration mapping, sampling and, eventually, drilling, the Company will be developing plans for a further mapping and sampling program to be carried out later this year. Several target areas remain to be sampled and others require follow-up sampling to further define their potential. Once this work is complete, the Company will assess the prospects for a property wide drilling program to test the potential for further discoveries on the Moss and Silver Creek claims; however, at this time, no drilling is planned on public lands. Given the success to date, the Company believes that the prospects for additional discoveries of gold bearing veins and structures continue to be good.
Logging, Sampling and Assaying
Samples were located using a GPS. Field notes were recorded for each sample documenting what was sampled, and how the sample was taken. Samples were collected in bags with a sample tag inserted and delivered to the Golden Vertex site laboratory for sample preparation. CRSM standards and blanks were inserted in the sample stream.
At the lab, samples were dried, crushed and split using a Jones riffle splitter. The samples were then pulverized to minus 200 mesh. The pulps were assayed for gold and silver using a 30 g split, Fire Assay (FA) prep and a gravimetric finish. Samples that reported values below detection limits were later re-run using a FA prep and an AA finish. Rejects and pulps are stored at the lab for future reference.
Quality Assurance / Quality Control (QA/QC):
Certified blanks and commercial standards are systematically introduced into the sample stream by Golden Vertex as part of our QA/QC program for a total control sample insertion rate of approximately 15%. Duplicate pulps are made for approximately 10% of the samples and sent to a third party lab for additional check assays. Control sample results are reviewed and re-assays carried out when results fall outside established criteria.
Qualified Person:
The foregoing technical information contained in this news release has been approved by Mr. Dan Kilby, P.Eng. Consultant for Northern Vertex, and a Qualified Person ("QP") for the purpose of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
About Northern Vertex
Northern Vertex Mining Corp. is a Canadian based exploration and mining company focused on the reactivation of the Moss Mine Gold-Silver Project located in NW Arizona, USA where the Company has the right to earn-in to a 70% property interest through a Joint Venture with Patriot Gold Corp. The Moss Mine Project is located approximately seven miles due east of Bullhead City and is owned 100% by Patriot Gold, The Company has the right to earn a 70% interest in the project from Patriot Gold by completing an $8.5 million investment over five years and a bankable feasibility study. Subsequent to the earn-in, financing of the project will be on a proportional basis. The Company has addressed the investment requirement of the earn-in and is in the process of completing the required feasibility study. The Company intends to submit the feasibility study to Patriot towards the end of Q2, 2015, after which the 70:30 joint venture is formed Patriot will be obligated to contribute its 30% of all expenditures going forward.
The Moss Mine Gold-Silver Project is an epithermal, brecciated, low sulphidation quartz-calcite vein and stockwork system which extends over a strike length of 1,400 meters and has been drill tested to depths of 370 meters below surface. It is a potential heap leach, open pit project being advanced under a three-phase business plan, specifically designed to ensure that technical, economic, permitting and funding requirements are met prior to each phase proceeding. The Company's management comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused 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.
To view photos of the Moss Mine Gold-Silver Project, please click on the following link:
http://www.northernvertex.com/s/PhotoGallery.asp
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington, President & CEO
For further information, please visit www.northernvertex.com
or contact Investor Relations at: 604-601-3656 or 1-855-633-8798 |
