 | | | Published : August 18th, 2011 | Announces Additional Drill Results From Viking and the Discovery of a |
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| August 18, 2011 |
| Northern Abitibi Announces Additional Drill Results From Viking and the Discovery of a New High Grade Gold Zone Which Has Returned 9.9 Grams Per Tonne Gold Over 1.4 Metres |
CALGARY, ALBERTA--(Marketwire - Aug. 18, 2011) - Northern Abitibi Mining Corp. ("Northern Abitibi") (TSX VENTURE:NAI) is pleased to provide assay results for drill holes 116 to 121 from its ongoing drill program at the Viking gold property in Newfoundland.
Drilling Program
Holes 116 to 121 are all expansion holes testing the lateral and depth extension of the Thor Trend. All of the holes intersected the mineralized zone at its target depth and have expanded the known area of gold mineralization. Results from holes 116 to 121 are summarized in the table below.
Holes 116 and 118 to 121 have all intersected significant zones of low grade gold mineralization including 65.3 metres grading 0.5 grams per tonne (g/t) gold in hole 121, and 52.1 metres grading 0.5 g/t gold in hole 120. Hole 121 also intersected 3 narrow high grade veins which returned 20.2 g/t gold over 0.3 metres, 10.2 g/t gold over 0.3 metres, and 10.9 g/t gold over 0.2 metres.
Summary of select drill intercepts - Viking Project
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Width
Drill Hole From (m) To (m) (m)(i) Au g/t
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Hole 116 109.0 119.5 10.5 0.4
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Hole 116 180.0 190.1 10.1 0.6
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Hole 116 200.1 201.1 1.0 1.8
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Hole 118 14.6 40.5 25.9 0.6
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Hole 119 90.2 101.1 10.9 0.5
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Hole 120 162.1 214.2 52.1 0.5
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Hole 121 99.0 164.3 65.3 0.5
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including 141.7 142.0 0.3 20.2
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including 147.8 148.1 0.3 10.2
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including 164.0 164.3 0.3 10.9
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(i) The true widths of the mineralized intercepts have not been determined
Hole 122 and 123 are the final 2 holes drilled into the Thor Trend. The holes have been logged and sampled and results are expected within the next few weeks. The drill has now moved off the Thor Trend and is testing new target areas on the property.
Trenching Program
Three new trenches have been completed along the north eastern end of the Viking Trend, located roughly 2 kilometres west of the Thor Trend. A new zone of alteration and mineralization has been uncovered over an area 400 metres long by 100 metres wide and the zone remains open along strike. Surface sampling indicates the entire zone contains anomalous gold with values ranging from trace to 1 g/t, and several high grade gold veins have been identified. Channel sampling across the higher grade veins has returned values of 9.9 g/t gold and 52 g/t silver over 1.4 metres, 5.2 g/t gold over 1 metre, 3 g/t gold and 17.3 g/t silver over 1.1 metres, and a grab sample of a mineralized vein returned 10 g/t gold and 8.1 g/t silver. Drill testing at this new mineralized zone is currently underway.
Trenching is continuing along the western side of the Viking property, targeting induced polarization chargeability anomalies.
Exploration Update
An induced polarization geophysical survey has been completed at Viking and preliminary results for 7 of 19 lines surveyed have been received by the company. Significant chargeability anomalies have been identified on the western side of the property and these are being trenched and prepared for drill testing. Further details of the induced polarization survey will be released after all the results have been received and interpreted.
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, 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).
Quality Control
All drill core is logged, photographed, and cut in half with a Diamond saw. Half of the core is bagged and sent to Eastern Analytical for analyses while the other half is archived and stored on site for verification and reference purposes. Gold is assayed by standard fire assay methods with additional elements analyzed by Induced Coupled Plasma (ICP). Samples with greater than 5 g/t gold and samples containing visible gold are re-assayed using a metallic sieve procedure to reduce the nugget effect created by free gold particles in the samples.
Duplicate samples, blanks, and certified standards are included with every sample batch and then checked to ensure proper quality assurance and quality control (QA/QC). Select samples are also sent to an outside laboratory for independent analyses as part of a check assay procedure.
Northern Abitibi
Northern Abitibi's technical team of experienced, professional geologists is committed to assembling and advancing a portfolio of gold and base metal projects from opportunities within Canada, Mexico and the United States. Northern Abitibi is focused on identifying high potential North American projects and exploring and developing them in a responsible and cost-effective manner.
Dr. Shane Ebert, P.Geo., is the Qualified Person responsible for the preparation of this news release.
Shane Ebert, President/Director
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Northern Abitibi's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Northern Abitibi. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Northern Abitibi's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Northern Abitibi's filings with the Canadian securities authorities. Accordingly, holders of Northern Abitibi shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Northern Abitibi disclaims any responsibility to update these forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. | |
| CONTACT INFORMATION:
Northern Abitibi Mining Corp.
Shane Ebert
1.250.964.2699
or
Northern Abitibi Mining Corp.
Jean Pierre Jutras
1.403.233.2636
www.naminco.ca
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Northern Abitibi Mining Corp
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EXPLORATION STAGE |
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CODE : NAI.V |
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ISIN : CA6647241018 |
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Northern Abitibi Mining is a gold and cobalt exploration company based in Canada. Its main exploration properties are SOUTH VOISEY BAY, TAYLOR BROOK, DOUAY NORTHWEST and VIKING in Canada. Northern Abitibi Mining is listed in Canada. Its market capitalisation is CA$ 1.1 millions as of today (US$ 806 842, € 756 657). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 0.44, and its lowest recent point on January 01, 2016 at CA$ 0.01. Northern Abitibi Mining has 107 310 000 shares outstanding. |
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