VANCOUVER, BC, March 22, 2021 /CNW/ - Northern Vertex
Mining Corp. ("Northern Vertex") (TSXV: NEE) (OTC-NASDAQ Intl:
NHVCF), a U.S.-focused gold producer with district-scale
exploration potential in the Walker Lane Trend, is pleased to
announce recent drilling results from its Hercules project in
Lyon County, Nevada.
The Hercules Gold Project is a district scale property featuring
significant near surface oxide, low sulphidation gold-silver
epithermal mineralization hosted in Tertiary-age volcaniclastic
rocks. It is located approximately one hour by car from
Reno, Nevada, at the north end of
the Walker Lane Trend. Northern Vertex's Moss Mine, currently the
largest pure gold and silver mine in Arizona, is located at the southern portion of
the Trend.
Phase II drilling conducted on the Hercules Gold Project during
the second half of 2020 focused on the Cliffs and Hercules targets.
Results from Phase II drilling appear to have confirmed the
presence of a high-grade, near surface core of mineralization at
the Hercules target. In addition, drilling at Cliffs discovered new
gold mineralization further to the east than was intersected in
previous drilling. Results also suggest additional discoveries may
be made in the largely untested overburden-covered area between
Hercules and Cliffs.
"Hercules continues to show its promise as a district-scale
project with significant, near-surface grades for an open pit
scenario," said Michael G. Allen,
President of Northern Vertex. "Broad zones of potentially bulk
mineable mineralization were intersected in drillholes from both
targets. This program indicates that zones of mineralization
drilled at depth appear to correlate with mineralized surface
samples in line with our evolving structural interpretation for the
area."
Hercules Phase II Drill Results
The Hercules 2020
Phase II drill program comprised 7,320 meters (m) of reverse
circulation (RC) drilling in 28 drillholes. The drilling was
focused on the Hercules (4,420 meters in 19 RC drillholes) and
Cliffs Targets (2,460 meters in 8 RC drillholes), with a
single RC drillhole testing a geophysical anomaly between the two
targets (440 meters in hole H20019).
Hercules Target Highlight Holes1
|
Hole
|
Azimuth/Dip
(degrees)
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
AuEq
(g/t)*
|
|
H20026
|
300/-45
|
0.00
|
15.24
|
15.24
|
0.28
|
3.27
|
0.33
|
|
and
|
|
114.30
|
143.26
|
28.96
|
0.63
|
8.19
|
0.75
|
|
Incl.
|
|
131.06
|
132.59
|
1.52
|
3.50
|
6.40
|
3.59
|
|
and
|
|
158.50
|
166.12
|
7.62
|
0.37
|
0.96
|
0.38
|
|
H20029
|
300/-45
|
4.57
|
7.62
|
3.05
|
0.35
|
2.30
|
0.38
|
|
and
|
|
39.62
|
70.10
|
30.48
|
0.44
|
4.31
|
0.50
|
|
Incl.
|
|
56.39
|
59.44
|
3.05
|
1.49
|
14.10
|
1.69
|
|
and
|
|
74.68
|
88.39
|
13.72
|
0.23
|
1.26
|
0.25
|
|
and
|
|
91.44
|
99.06
|
7.62
|
0.38
|
3.94
|
0.43
|
|
and
|
|
103.63
|
111.25
|
7.62
|
0.31
|
2.00
|
0.34
|
|
H20031
|
300/-45
|
0.00
|
30.48
|
30.48
|
1.63
|
18.27
|
1.89
|
|
Incl.
|
|
6.10
|
9.14
|
3.05
|
5.55
|
47.90
|
6.23
|
|
H20036
|
300/-45
|
30.48
|
38.10
|
7.62
|
0.80
|
10.50
|
0.95
|
|
and
|
|
45.72
|
48.77
|
3.05
|
3.19
|
2.45
|
3.23
|
|
and
|
|
86.87
|
102.11
|
15.24
|
0.30
|
2.72
|
0.34
|
|
and
|
|
121.92
|
135.64
|
13.72
|
0.41
|
3.33
|
0.46
|
|
and
|
|
143.26
|
147.83
|
4.57
|
0.47
|
4.83
|
0.54
|
|
and
|
|
152.40
|
166.12
|
13.72
|
0.46
|
4.21
|
0.52
|
|
H20037
|
300/-45
|
4.57
|
6.10
|
1.52
|
0.35
|
5.70
|
0.43
|
|
and
|
|
18.29
|
36.58
|
18.29
|
1.80
|
16.94
|
2.04
|
|
Incl.
|
|
28.96
|
33.53
|
4.57
|
5.83
|
40.87
|
6.41
|
|
and
|
|
60.96
|
74.68
|
13.72
|
0.79
|
8.67
|
0.92
|
|
Incl.
|
|
65.53
|
67.06
|
1.52
|
2.48
|
32.60
|
2.95
|
|
H20038
|
300/-45
|
3.05
|
7.62
|
4.57
|
0.25
|
3.07
|
0.29
|
|
and
|
|
13.72
|
32.00
|
18.29
|
1.12
|
8.51
|
1.25
|
|
Incl.
|
|
18.29
|
21.34
|
3.05
|
4.81
|
30.50
|
5.25
|
|
and
|
|
53.34
|
60.96
|
7.62
|
1.12
|
30.06
|
1.55
|
|
and
|
|
65.53
|
96.01
|
30.48
|
0.59
|
6.62
|
0.68
|
|
Incl.
|
|
73.15
|
79.25
|
6.10
|
1.85
|
23.13
|
2.18
|
|
|
|
*
|
AuEq = Au + (Ag/70);
AuEq formula based on US$1,700 per ounce Au and US$24.25/oz Ag;
metallurgical processing recoveries have not been applied to the
AuEq calculation and are taken at 100%.1A number of
mineralized intervals were omitted from this table for brevity.
Please refer to the full table at the link below for complete
results. True thickness estimated between 70% and 90% for
drillholes inclined at -45 degrees to the west, between 50% and 90%
for drillholes inclined at -60 degrees to the west, and between 35%
and 50% for east-oriented drillholes. Length-weighted averages are
uncut. Samples below detection limit were set to a value of half of
the detection limit.
|
Cliffs Target Highlight Holes1
|
Hole
|
Azimuth/Dip
(degrees)
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
AuEq
(g/t)*
|
|
H20022
|
300/-45
|
1.52
|
134.11
|
132.59
|
0.16
|
2.15
|
0.19
|
|
H20028
|
295/-45
|
0.00
|
6.10
|
6.10
|
0.32
|
3.08
|
0.36
|
|
and
|
|
15.24
|
25.91
|
10.67
|
0.22
|
3.66
|
0.27
|
|
and
|
|
28.96
|
45.72
|
16.76
|
0.25
|
2.56
|
0.29
|
|
and
|
|
269.75
|
281.94
|
12.19
|
0.87
|
3.49
|
0.92
|
|
H20030
|
295/-60
|
7.62
|
12.19
|
4.57
|
0.38
|
3.30
|
0.43
|
|
and
|
|
15.24
|
22.86
|
7.62
|
0.42
|
5.88
|
0.50
|
|
and
|
|
48.77
|
68.58
|
19.81
|
0.23
|
1.71
|
0.25
|
|
and
|
|
85.34
|
100.58
|
15.24
|
0.41
|
6.59
|
0.50
|
|
and
|
|
106.68
|
112.78
|
6.10
|
0.42
|
3.38
|
0.47
|
|
and
|
|
210.31
|
211.84
|
1.52
|
0.51
|
1.60
|
0.53
|
|
H20032
|
300/-60
|
6.10
|
22.86
|
16.76
|
0.28
|
1.90
|
0.31
|
|
H20034
|
300/-60
|
3.05
|
18.29
|
15.24
|
0.37
|
3.46
|
0.42
|
|
H20040
|
300/-45
|
6.10
|
13.72
|
7.62
|
0.33
|
2.94
|
0.37
|
|
And**
|
|
184.40
|
224.03
|
39.62
|
1.12
|
5.38
|
1.20
|
|
Incl.
|
|
185.93
|
192.02
|
6.10
|
5.04
|
14.93
|
5.26
|
|
|
|
*
|
AuEq = Au + (Ag/70)
); AuEq formula based on US$1,700 per ounce Au and US$24.25/oz Ag;
metallurgical processing recoveries have not been applied to the
AuEq calculation and are taken at 100%.
|
|
**
|
Final sample in hole
returned 0.52 g/t Au and 2.50 g/t Ag (0.55 g/t AuEq)
|
|
1
|
A number of
mineralized intervals were omitted from this table for brevity.
Please refer to the full table at the link below for complete
results. True thickness estimated between 70% and 99% for
drillholes inclined at -45 degrees to the west, between 50% and 90%
for drillholes inclined at -60 degrees to the west, and between 35%
and 50% for east-oriented drillholes. Length-weighted averages are
uncut. Samples below detection limit were set to a value of half of
the detection limit.
|
Both targets remain open along strike, across strike, and at
depth, particularly east of the Hercules target where additional
high-grade surface samples remain untested by drilling.
Extensional structures appear to have been the primary conduits
along which gold and silver mineralization was emplaced into the
volcaniclastic sequence on the Hercules property. Broad zones of
disseminated gold mineralization appear to have been formed where
the metal-bearing structures have intersected permeable units
(e.g., block-and-ash tuff) in the volcaniclastic sequence.
Mineralization has largely been oxidized with local relicts of
transitional mineralization remaining.
Potential new zones
Hole H20019 was drilled
between the Hercules and Cliffs targets testing a geophysical
target. Two zones of low-grade mineralization were cut suggesting
additional discoveries may be made in the largely untested
overburden-covered area between Hercules and Cliffs.
H20019 Results table
|
Hole
|
Azimuth/Dip
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
AuEq
(g/t)*
|
|
H20019
|
300/-45
|
70.10
|
88.39
|
18.29
|
0.33
|
8.45
|
0.45
|
|
Incl.
|
|
79.25
|
83.82
|
4.57
|
0.84
|
27.87
|
1.24
|
|
and
|
|
184.40
|
199.64
|
15.24
|
0.31
|
3.46
|
0.36
|
|
|
|
*
|
AuEq = Au + (Ag/70);
AuEq formula based on US$1,700 per ounce Au and US$24.25/oz Ag;
metallurgical
|
Processing recoveries have not been applied to the AuEq
calculation and are taken at 100%.
True thickness estimated between 70% and 90% for drillholes
inclined at -45 degrees to the west. Length-weighted averages are
uncut. Samples below detection limit were set to a value of half of
the detection limit.
Additional target areas remain untested on the Hercules
property, and the Company is compiling data in preparation for its
next phase of drilling.
A full table of results can be found on the Company's
website.
https://northernvertex.com/site/assets/files/2300/2021-03-22-nee-nrt.pdf
Qualified Person
Dr. Warwick Board, P.Geo., Vice President of
Exploration for Northern Vertex Mining Corp., and a qualified
person ("QP") as defined by Canadian National Instrument 43-101,
has reviewed and approved the technical information contained in
this release.
QA/QC
Reverse Circulation (RC) drillhole
logging and sampling has been carried out by qualified geologists.
RC samples, collected every 1.52 m,
were transported in sealed bags by truck to the ALS Global
Geochemistry Analytical Laboratory in Reno, Nevada, for sample preparation. Field
control QAQC samples were inserted into the sample stream to
provide a check on accuracy, precision, and cross contamination.
Field control standards were inserted at a rate of one in 20
samples, with four standards being used. Field control blanks
(barren rhyolite chips) were inserted at a rate of one in 20
samples with an offset of ten samples from the field control
standards. Field control duplicates were inserted at a rate of one
in 40 samples. Final assaying was done in the ALS Global
Geochemistry Analytical Laboratory in North Vancouver, BC for analysis. ALS Global
Geochemistry Analytical Laboratories meet all the requirements and
are accredited to ISO/IEC 17025:2017. Gold was determined by
fire-assay fusion of a 30 g sub-sample with atomic absorption
spectroscopy (AAS; Method Au-AA23). Overlimit samples of Au were
assayed by gravimetric means (Au-GRA21). Cyanide-soluble gold was
determined on 30 g sub-samples by cyanide leach with an AAS
finish (Method Au-AA13). Multi-element data, including Hg and Se,
were collected by Inductively Coupled Plasma Atomic Emission
Spectroscopy and Inductively Coupled Plasma Mass Spectrometry
(Methods ME-ICP61, Hg-MS42, Se-MS46). Analytical laboratory QAQC
data are available for each batch analyzed on ALS Global's
Webtrieve service.
About Northern Vertex
Northern Vertex offers
investors a rare combination of cash flow, production, top-tier
management and exceptional exploration potential within two
projects on the Walker Lane Gold Trend of western Nevada and Arizona. Management is executing a clear
strategy that expands production and resources at the Moss Mine in
Arizona while aggressively
exploring the Hercules Project in Nevada.
ON BEHALF OF THE BOARD OF DIRECTORS OF NORTHERN VERTEX MINING
CORP.
Michael G. Allen
President
TSXV: NEE | US: NHVCF | NEE.WT | Frankfurt: 54N | ISIN: CA6660061012 | WKN:
A1JUA0
Neither the 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 Statement Regarding Forward-Looking
Information
All statements, trend analysis and other information contained
in this press release about anticipated future events or results
constitute forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "expect" and
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. All statements, other than statements of historical
fact, included herein, are forward-looking statements. Although
Northern Vertex believes that the expectations reflected in such
forward-looking statements and/or information are reasonable, undue
reliance should not be placed on forward-looking statements since
Northern Vertex can give no assurance that such expectations will
prove to be correct. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements, including the risks, uncertainties
and other factors identified in Northern Vertex's periodic filings
with Canadian securities regulators. Forward-looking statements are
subject to business and economic risks and uncertainties and other
factors that could cause actual results of operations to differ
materially from those contained in the forward-looking statements.
Important factors that could cause actual results to differ
materially from Northern Vertex's expectations include risks
associated with the business of Northern Vertex; risks related to
reliance on technical information provided by Northern Vertex;
risks related to exploration and potential development of Northern
Vertex's projects; business and economic conditions in the mining
industry generally; fluctuations in commodity prices and currency
exchange rates; uncertainties relating to interpretation of drill
results and the geology, continuity and grade of mineral deposits;
the need for cooperation of government agencies in the exploration
and development of properties and the issuance of required permits;
the need to obtain additional financing to develop properties and
uncertainty as to the availability and terms of future financing;
the possibility of delay in exploration or development programs and
uncertainty of meeting anticipated program milestones; uncertainty
as to timely availability of permits and other governmental
approvals; and other risk factors as detailed from time to time and
additional risks identified in Northern Vertex's filings with
Canadian securities regulators on SEDAR (available at
www.sedar.com). Forward-looking statements are based on estimates
and opinions of management at the date the statements are made.
Northern Vertex does not undertake any obligation to update
forward-looking statements except as required by applicable
securities laws. Investors should not place undue reliance on
forward-looking statements.
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