Northern Gold Completes Geotechnical Study and Intersects 4.10 g/t Over 17 Metres at Garrison
March 26 2014 - 7:15AM
Marketwired Canada
NORTHERN GOLD MINING INC. (TSX VENTURE:NGM) ("Northern Gold" or the "Company")
is pleased to announce the completion of the geotechnical assessment of the
Garrcon Bulk sample project planned for May 2014. As announced on January 16,
2014, the Company plans to submit an advanced exploration closure plan to
complete a bulk sample from the Garrcon deposit of its wholly owned Garrison
Gold Property. Pending regulatory approval, the closure plan and related permits
will allow the company to extract up to 150,000 tonnes from the Garrcon deposit.
In the third quarter of 2014, the bulk sample stockpile will be toll milled. The
test mining should allow the Company to gather the data necessary to complete a
pre-feasibility study of the deposit.
Pursuant to regulations in Part 2 and Part 8 of the Mine Rehabilitation Code of
Ontario, Schedule 1, O.Reg.240/00, a geotechnical assessment for the Garrcon
bulk sample pits was completed by Terrane Geoscience Inc. ("Terrane") of
Halifax, Nova Scotia under the direction of Tony Gilman, P.Eng. Utilizing
geotechnical field mapping and two oriented diamond drill holes in addition to
compressive strength testing, Terrane completed geotechnical analysis to design
stable slopes for the Garrcon Bulk sample open pits. The results of this
analysis have given a slope that is considered safe with a bench face angle of
80 degrees and overall slope angle of 66 degrees for a total slope height of 15
m.
The two diamond drill holes were drilled within the boundary of the East and
West bulk sample pit domains and showed assay results consistent with Northern
Gold's previous diamond drilling in the area. Each of the holes were 51m in
length for a total of 102m.
GGT-13-01 was drilled north into the west pit domain in shallow overburden and
interested gold mineralization within the pit domain. GGT-13-02 was drilled east
into the east pit domain and intersected shallow overburden and significant gold
mineralization in the upper 15m of the east pit domain.
Assay highlights from the drill holes include:
-- 2.40 g/t Au over 12.0m (7.0m-19.0m) GGT-13-01
-- 4.10 g/t Au over 17.0m (3.0-20.0m) GGT-13-02
The Garrcon deposit is hosted in Temiskaming Type metasediments along the
footwall of the Destor-Porcupine Fault. Brittle stockwork veins and vein arrays
form a network of gold mineralization within the metasedimentary host. The
deposit has a NI 43-101 compliant resource as announced on March 3, 2014 which
contains a measured and indicated resource of 1.05 million ounces at 1.12 grams
per tonne and an inferred mineral resource of 616,000 ounces at 2.80 grams per
tonne.
Martin Shefsky, Interim President and CEO of Northern Gold, commented: "The
various studies and permits to complete the bulk sample are progressing well.
The geotechnical drill holes show a combination of shallow overburden, high rock
strength and significant assays which support our plans to mine the Garrcon bulk
sample from those locations."
Table 1 - Garrcon Assay Results (i) - These results are significant drill assays
from 2 drill holes on the Garrcon Zone.
----------------------------------------------------------------------------
From Inc. To Interval Au g/t
Hole Sub-Zone Section (m) (m) (m) (m) Un-Cut
----------------------------------------------------------------------------
GGT-13-01 Garrcon Shaft Zone 13+25W 7.0 43.0 34.0 1.10
---------------------------------------
7.0 19.0 12.0 2.40
---------------------------------------
11.0 12.0 1.0 7.94
----------------------------------------------------------------------------
GGT-13-02 Garrcon Shaft Zone 9+75N 3.0 20.0 17.0 4.10
---------------------------------------
13.0 14.5 1.5 15.27
---------------------------------------
31.0 34.0 3.0 2.41
---------------------------------------
45.6 48.0 2.4 2.30
----------------------------------------------------------------------------
(i)No Assays required top cut of 34.28g/t
Plan maps and diamond drill sections can be found on the Company's website at
www.northerngold.ca/golden-bear-project/garrcon-deposit.
The Company also announces that it has now completed a 2.45 km hydro line to
connect the Jonpol site to the Hydro One electrical network in Northern Ontario.
The single phase hydro line was connected to the existing line supplying
Wahgoshig First Nation west of the Jonpol site. The hydro line has a projected
payback of two and a half years versus diesel power generation as the primary
power supply and based on current electrical consumption at the Company's
exploration office, core shack and maintenance buildings; it is expected to
reduce electricity costs by approximately $6,000/month as well as significantly
reduce the operation's carbon footprint. The hydro line was connected to the
electrical grid on March 19, 2014.
Martin Shefsky, Interim President and CEO of Northern Gold, commented: "The
completion of the hydro line to the Jonpol site demonstrates our commitments to
both reduce operating costs and provide value for our exploration expenses."
The technical aspects of this press release have been reviewed and approved by
Michael Gross, M.Sc., P.Geo. the "Qualified Person" as defined by National
Instrument 43-101 for the Golden Bear Project.
Quality Assurance/Quality Control
Northern Gold has implemented comprehensive, industry standard
quality-assurance, quality-control protocols for diamond drilling, core
recovery, handling, sampling, shipping and assaying. Gold assays were completed
by SGS Mineral Services through fire assay procedures (FAI323 and FAG303).
Details of these best practice principals can be viewed on the Company's website
at www.northerngold.ca/QA-QC.php.
About Northern Gold
Northern Gold is a TSXV-listed gold company based in Toronto, Ontario. The
Company's main focus is the exploration and development of its prospective
mineral properties at the Golden Bear Project in the Larder Lake Mining
Division, northeastern Ontario. Northern Gold has a portfolio of advanced
exploration projects, including the Jonpol and Garrcon Deposits and the Buffonta
Property. Recent transactions, including the amalgamation with Victory Gold
Mines Inc. and acquisition of the Lac Minerals Property add to the Company's
regional consolidation strategy along the Destor-Porcupine Fault Zone.
CAUTIONARY STATEMENT: 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.
No stock exchange, securities commission or other regulatory authority has
approved or disapproved of the information contained herein. This news release
contains forward-looking information which is not comprised of historical facts.
Forward-looking statements are characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or "will" occur.
Forward-looking information involves risks, uncertainties and other factors that
could cause actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such forward-looking
information. Forward-looking information in this news release includes, but is
not limited to, Northern Gold's strategic partnership and issuances of
securities, and is based on, among other things, the opinions and assumptions of
management considered reasonable as of the date of this news release. Factors
that could cause actual results to differ materially from such forward-looking
information include, but are not limited to, delays in obtaining or failures to
obtain required regulatory approvals, changes in equity markets, fluctuations in
commodity prices, and other risks involved in the mineral exploration and
development industry, including those risks set out in Northern Gold's public
documents filed on SEDAR. Although Northern Gold believes that the assumptions
and factors used in preparing the forward-looking information in this news
release are reasonable, undue reliance should not be placed on such information,
which only applies as of the date of this news release, and no assurance can be
given that such events will occur in the disclosed time frames or at all.
Northern Gold disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, other than as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Northern Gold Mining Inc.
Martin Shefsky
Interim President & Chief Executive Officer
647.297.8793
mshefsky@northerngold.ca
Northern Gold Mining Inc.
Eric Szustak
Manager, Business Development
905.330.7948
eszustak@northerngold.ca
www.northerngold.ca
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