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CALGARY, ALBERTA--(Marketwire - May 3,
2010) - Northern Abitibi Mining Corp. (TSX VENTURE:NAI) ("Northern
Abitibi") is pleased to announce that a drill rig has been
mobilized and drilling will commence immediately at the Viking Gold
project, Newfoundland.
The drill program is currently budgeted for 6000 metres of drilling and
will initially focus on infill and resource delineation along the Thor
Trend, which remains open for expansion. A second drill rig will be mobilized to the
project near the end of May and will be used to expand the Thor Trend
and test several large exploration targets within the Viking claim
block. Surface exploration consisting of trenching, mapping, and
sampling on additional targets will commence once the snow cover has
melted in late May. The Company's objective following this phase of
work is to complete an initial National Instrument 43-101 resource
estimate at Viking by the end of 2010.
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. Northern Abitibi has drilled 45
holes and excavated 41 trenches at the Viking Project to date and has
intersected gold mineralization at surface along the Thor Trend over a
1000 metre long strike length, 500 meters of which have been tested by
drilling at depth to date. Highlights include high grade drill
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 longer
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 Viking
property 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 Inc.. A detailed description of the Viking project is
available on our website (www.naminco.ca).
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.
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