Northern Vertex Drilling on Copley
Project Identifies Large Gold Bearing Structures. Distinct Geological
Similarities and Presence of Magnetic Lows Point to Potential Blackwater
Style Bulk-Tonnage Discovery in B. C.'s Nechako Plateau
Kootenay Gold
(KTN-TSX.V) and Northern Vertex (NEE-TSX.V) are pleased to
announce drill results from an 1100 meter drill program on its Copley
Gold property in British Columbia's Nechako Plateau. Of the 11 holes
Northern Vertex drilled on its Copley Property in central BC, 9
intersected gold including a 33 m intersection of 0.271 g/t Au in hole
01-04 (see accompanying table); of the 33 m: 5.6 m averaged 0.68 g/t Au,
and 1.4 m averaged 1.57 g/t Au. Drilling focused on the Smoking Pipe
target and results indicate the mineralized zoning is near surface and
the zones of gold-rich rocks thicken to the west.
The drill program confirmed that gold occurs in silicified volcanic rocks
containing disseminated- or vein-pyrite and anomalous concentrations of
zinc (Zn) and mercury (Hg). These are the same associations observed at
Richfield's Blackwater project located 40 km
south of Copley.
States Bob Thompson (P Eng, PhD), consulting geologist for Northern
Vertex:"We are very pleased and excited with drill assays
returned from the current program. Results confirm Copley's geological
characteristics mirror that of Richfield's Blackwater
discovery 40km to the south. Moreover, the significant gold intersections
identified over a large area, combined with the thickness of the
intervals underscore Copley's significant bulk tonnage gold
potential".
Further bolstering Copley's near-surface bulk tonnage potential, drilling
at the Smoking Pipe target outlined a sizeable volume of auriferous rock
measuring 200 m by 100 m by 50 m depth. Additionally, the program
demonstrated that gold can occupy intersections 10's of metres thick and is not confined to narrow,
widely-spaced vein-like features. Since the Smoking Pipe target is open
to the west beneath overburden, additional drill testing will be required
to properly estimate its size.
Drilling follows results from previous exploration on Copley that
demonstrated it is a large gold-bearing epithermal system measuring 7 km
long x 2 km wide within the 2,926 hectare property. The sampling program
traced extensive areas of gold mineralization on surface, including one
prospective area measuring 55 m by 140 m. 11 sample sites returned values
greater than 1 g Au/ton including one at 14 g Au/ton. 23 additional sites
returned values between 0.05 and 1.0 g Au/ton in only one of several
gold-bearing zones identified thus far.
Northern Vertex further reports the Company has identified 3 additional
drill-ready targets associated with silicified, pyritic, gold-bearing
surface samples. The drill targets occur on the shoulder of an annular
magnetic low extending west of the Smoking Pipe target. The existence of
a "magnetic low" is considered significant as Richfield's Blackwater property 40 km to the south also occurs on
the margin of a magnetic low.
A planned upcoming phase II drilling program by Northern Vertex will
prioritize the newly identified targets as the Company focuses on
vectoring into the feeder systems controlling the gold dissemination on
Copley.
Table 1: A synopsis of drill results from Copley Property. All analyses
were performed by ACME Laboratories Inc., Vancouver, using industry
standard protocols.
A
|
From
|
To
|
Length
|
Au (ppb, Fire Assay)
|
Cply1-01
|
3.00
|
19.00
|
16.00
|
96.6
|
including
|
3.00
|
8.00
|
5.00
|
177.5
|
Cply1-02
|
0.00
|
7.00
|
7.00
|
427.1
|
including
|
2.00
|
3.00
|
1.00
|
1696
|
Cply1-02
|
23.30
|
24.00
|
0.70
|
634
|
Cply1-03
|
3.00
|
7.00
|
4.00
|
103.3
|
Cply1-04
|
8.00
|
41.50
|
33.50
|
271.1
|
including
|
8.00
|
30.60
|
22.60
|
328.5
|
including
|
25.00
|
30.60
|
5.60
|
679.6
|
including
|
29.20
|
30.60
|
1.40
|
1572
|
Cply2-02
|
26.00
|
27.00
|
1.00
|
1570
|
Cply2-03
|
11.00
|
12.00
|
1.00
|
129
|
Cply2-03
|
33.00
|
35.00
|
2.00
|
44
|
Cply2-03
|
51.00
|
53.20
|
2.20
|
533.5
|
Cply2-04
|
41.00
|
42.00
|
1.00
|
849
|
Cply2-05
|
8.00
|
9.00
|
1.00
|
1146
|
Cply2-05
|
12.00
|
20.30
|
8.30
|
51.3
|
Cply2-05
|
53.60
|
55.00
|
1.40
|
1895
|
Cply3-01
|
3.00
|
7.00
|
4.00
|
254.3
|
The foregoing geological disclosure has been reviewed and verified by Dr.
Robert Thompson, Phd, P.Eng,
a qualified person for the purpose of National Instrument 43-101,
standards of disclosure for mineral projects.
Northern Vertex has the right to earn a 60% interest in the Copely Gold Property in exchange for issuing a total
of 800,000 common shares of Northern Vertex to Kootenay Gold Inc; and
financing $2.2 million of exploration expenditures on the property within
a four year period.
About Northern Vertex: Northern Vertex is a Canadian exploration
and mining company focused on precious metals discoveries in North
America. The company is presently conducting systematic exploration
programs on two prospective joint-venture properties in British Columbia,
Canada: The Copley Gold Property located in the emerging Nechako Plateau
region of Central British Columbia and the Deer Creek Gold Property
located in the West Kootenay region of Southern British Columbia.
About Kootenay Gold Kootenay Gold is actively developing mineral
projects in the Sierra Madre Region of Mexico and in British Columbia,
Canada. The Company's flagship property is the former producing Promontorio Silver mine in Sonora State, Mexico. The
Company's objective is to develop near term discoveries and long term
sustainable growth. Kootenay's management and
technical team are proven professionals with extensive international
experience in all aspects of mineral exploration, operations and venture
capital markets. Multiple, ongoing J/V partnerships in Mexico and Canada
maximize potential for additional, new discoveries while maintaining
minimal share dilution.
-30-
For additional information, please contact: James McDonald, CEO and
President at 403-238-6986 To view an interview with James McDonald visit:
www.kootenaygold.ca
The
TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or the accuracy of this release. Cautionary Note to US
Investors: This news release may contain information about adjacent
properties on which we have no right to explore or mine. We advise U.S.
investors that the SEC's mining guidelines strictly prohibit information
of this type in documents filed with the SEC. U.S. investors are
cautioned that mineral deposits on adjacent properties are not indicative
of mineral deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such statements.
2011 number 6
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