September xx, 2016 - Vancouver, BC.- Northern Vertex Mining Corp. (the 'Company') (TSX.V: NEE) is pleased to provide an update on the Company's property wide exploration program on its Moss Mine Gold-Silver property and adjacent Silver Creek property, located in Mohave County, Arizona, USA. The program commenced in late June with the objective of identifying and prioritizing drill targets for ongoing exploration. This update covers results relating to the Moss and Silver Creek claim blocks.
Dick Whittington, President and CEO, commented: 'It is gratifying to see the progress made in our property wide exploration activities. The current results build on the aero magnetic survey and earlier mapping and chip sampling programs of 2014 and 2015. We have identified some high priority early stage targets which we hope to drill test in the New Year'.
Highlights of this program to date are:
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A significant number of samples returned gold mineralization, with assays in excess of 1 ppm being recorded in numerous samples. The highlights were:
|
Sample
|
ID Area
|
Type
|
Au (ppm)
|
Ag (ppm)
|
|
311438
|
Old Timer
|
chip
|
5.76
|
4.6
|
|
311449
|
Old Timer
|
chip
|
5.04
|
3.0
|
|
311451
|
Old Timer
|
chip
|
7.50
|
4.8
|
|
311452
|
Old Timer
|
grab
|
5.59
|
26.1
|
|
311485
|
Old Timer
|
chip
|
18.60
|
17.3
|
|
311502
|
Old Timer
|
chip
|
8.08
|
5.0
|
|
311507
|
Old Timer
|
grab
|
6.11
|
3.3
|
|
311618
|
Arrastre
|
chip
|
18.40
|
255
|
|
311622
|
Arrastre
|
grab
|
11.60
|
8.7
|
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.
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Fieldwork, combined with previous geologic and geochemical investigations (see news release March 24, 2015), has defined two high-priority exploration prospects: Old Timer and West Oatman, which have the potential to add gold ounces to the Moss resource base. A third prospect, Arrastre, has potential to host a small shallow gold deposit, is of lower priority but will be evaluated in due course. A modest exploration budget, Including follow-up sampling, trenching and limited reverse circulation drilling will be put together to begin the process of advancing the knowledge base on these high priority early stage targets.
Outline of Mapping and Sampling Program
Reconnaissance mapping was conducted in a number of areas to follow-up on the results of the 2014 program (see news release March 24, 2015) and to examine a number of new areas on the Silver Creek property. Work was carried out between June 20 and July 8, 2016. A total of 317 chip and grab samples were taken to further evaluate vein trends in the Old Timer and Arrastre areas and to test large alteration zones on the southern portion of the Silver Creek property. (see Figure 1)
Mapping was primarily focused on the Old Timer areas (to follow-up chip sampling done in 2014), and the Arrastre, Moss West Extension and the Oatman Amalgamated areas. Additional mapping was done on the Grapevine, Florence Hill and Oatman Amalgated areas. Sampling was concentrated in the Old Timer, Arrastre, Grapevine, Florence Hill and Oatman Amalgamated areas.
Key target areas outlined during the program to date are:
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The Old Timer vein system prospect contains two targets: Old Timer East, a high-grade vein and bulk stockwork-vein target, and Old Timer West, a high-grade vein target lying along the northern projection of the Canyon fault. (Figure 2)
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Old Timer East is a broad zone of veins in the hangingwall of the Old Timer vein and extends about 480 meters along strike of the vein and is 50 to 100 meters wide. Within that zone a core area of closely spaced veins with multi-ppm gold assays measures 250 meters long by 20 to 35 meters wide. The average grade of all samples collected within the core zone is 1.96 ppm Au. (Figure 3) Old Timer East presents a walk-up drill target. The core zone of the vein system has potential both for high-grade veins and a bulk-tonnage stockwork deposit. Preliminary testing would involve a limited number of reverse circulation drill holes located north of the vein swarm and angled southward across the veins (Figure 4). Access is via an existing 2-track road and the area is gently sloping. Exploration along the remainder of the vein provides a larger target. Drilling could be preceded by a trenching program with a few shallow backhoe trenches cut and chip-channel samples collected across the zone. Trenching would provide an inexpensive way to establish gold grade in stockwork zones between veins and overall grade of the zone.
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Old Timer West is a wide calcite vein occupying the northward projection of the Canyon fault, the bounding structure and a possible mineralization control of the strong mineralization at Hill #1 on the Moss vein. The vein splits into a series of calcite and quartz-calcite veins, which may represent a sigmoid loop in the vein system. (Figure 5) Preliminary rock-chip sampling at Old Timer West in 2014 discovered gold mineralization, ranging from 1 ppm gold to 20.26 ppm gold over a small area measuring roughly 60 meters E-W by 55 meters N-S. Mapping and additional sampling during the 2016 exploration program expanded the anomalous area to about 225 meters north-northwest by 100 meters wide. A re-sample of the 20.26 ppm sample assayed 5.042 ppm Au, confirming strong mineralization although not replicating the previous value. Of 24 samples collected in 2016, 12 samples contained more than 1 ppm up to 18.6 ppm gold.
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Arrastre:This new discovery lies about 1.8 km southwest of Pit #1 on the Moss vein. Two calcite-quartz veins crop out for about 150 meters of strike length and intersect in an area of old mine workings. Up to 18.4 ppm gold was obtained from samples of calcite veins. In addition to vein gold potential, the intersection of the two veins may produce a high-grade ore shoot. (See Figure 6) Two of the highest grade samples taken during the program are from this area.
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The West Oatman Vein Systemis a large area of stockwork quartz-calcite veining and breccia on the south side of Silver Creek, similar to the Moss vein/stockwork system. The target area measures 270 meters along strike and from 40 to 80 meters wide in outcrop (along a dip slope). True width of the breccia zone is 30-50 meters. The breccia body strikes roughly 290o and dips about 65o to the north. Extensive rock-chip sampling (143 grab and channel samples) collected in 2014 yielded an average value of 0.608 ppm Au with individual samples as high as 7.47 ppm Au. Geological mapping was conducted in 2014(see press release March 14, 2015). Fieldwork in 2016 consisted of determining access routes and drill sites for a preliminary drill program to evaluate the tonnage potential and grade of the stockwork system. (see Figure 7) The West Oatman stockwork/breccia isa bulk-tonnage exploration target. The drainage north of the breccia outcrop provides easy access and suitable topography for drill sites. Phase I drilling is proposed as reverse-circulation holes angled at -45o and -75o across the mineralized zone. Hole depths would range from 80 meters to 120 meters. (Figure 8)
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The West Extension of the Moss Vein extends for at least 1.5 kilometers west of the westernmost drilling by Vertex. Geologic mapping was conducted to follow-up chip sampling done in 2011, but was not completed due to time constraints and safety concerns. Rock-chip sampling in 2011 found numerous strong gold anomalies along the vein projection and in hangingwall structures. Reynolds Metals drilled several vertical holes in the westernmost area and encountered thick sections of anomalous gold (>100 ppb Au) including 0-300 feet (TD) in hole 91-6 and 95-335 feet in hole 91-11. Hole, 91-7, contained 98 meters averaging 0.496 ppm Au with an internal zone of 18 meters averaging 0.714 ppm Au. The historic drilling provides additional evidence for a bulk tonnage target in the western area. Further mapping and some infill sampling will be required to define specific drill targets along the vein system. (see Figure 9).
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The Grapevine, Florence Hill and Oatman Amalgamated areas, were investigated Geologically and by rock-chip sampling, whichfailed to produce clear drill targets. A deep high-sulfidation epithermal vein target may exist at Florence Hill, but the target is a low priority.
Assay Results to Date
The systems highlighted above were the subject of rock-chip sampling programs 2011, 2014 and 2016. The 2016 sampling program was done in conjunction with reconnaissance geological mapping and previous work in an effort to build a geological framework for the results. 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 in addition to the ones previously recognized on the property are auriferous at surface. Others showed alteration and trace elements that indicate their surface expression is above the boiling zone where gold might be foundin the system.
The key assay results can be found by accessing this link: (Full Table of Results).
Future Work
The recent program has defined a number of high quality early stage targets for future mapping, rock sampling, trenching and subsequent reverse circulation drilling to test concepts and begin the process of systematically building the geologic knowledge base of these targets.
Some require further mapping and sampling while others could be tested by back hoe trenching. Contingent on the results of this more detailed work a number of drill holes could be planned and executed as proof of concept in preparation for a more comprehensive exploration drilling program to be carried out a later date.
Some examples of possible hole locations and orientations are shown on Figures 3, 5 and 8.
Sampling and Assaying
Samples were collected by professional prospectors and were located using a hand-held 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 by to a secure location prior to shipment by bonded courier to Inspectorate America Corp., a commercial laboratory in Sparks, Nevada. The Inspectorate lab is an ISO 9001:2008 qualified assay lab that uses and makes available internal assaying controls.
At the lab, core samples are dried, crushed and pulverized to 85% passing through a 200 mesh sieve. The pulps are assayed for gold using a 30 g split, Fire Assay (FA) and Atomic Absorption (AA) finish. Pulps were further analysed using a 15 gram split using 32 elements ICP. Silver assays used the ICP data. Overlimit assays for both gold and silver (10ppm for gold and 100ppm for silver) were rerun using a gravimetric procedure. Rejects and pulps are stored at the lab for future reference.
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 exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold/Silver Project located in NW Arizona, USA. 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 vertically. It is a potential heap leach, open pit project that has been advanced to the Feasibility Study stage that demonstrates the project to be a low Capex, high margin, high rate of return project, located in one of the world's premier mining jurisdictions. The Company's management comprises an experienced management team with a strong background in all aspects of exploration, development, operations and financing of mining projects worldwide. The Company is focused on advancing the Moss project to production while 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.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
'J.R.H. (Dick) Whittington'
President & CEO
For further information, please visit www.northernvertex.com or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798.
Neither 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.
This news release contains statements about our future business and planned activities. These are 'forward-looking' because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.
2016 number 19