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Northern Abitibi Mining Corp. (TSX
VENTURE:NAI) ("Northern Abitibi") is pleased to announce it
has received exploration permits and has signed a drill contract for
its 2011 exploration program at the company's wholly owned Viking gold
property in Newfoundland.
The 2011 exploration program will include a property scale induced
polarization - resistivity geophysical survey, 3500 to 4000 metres of diamond drilling, additional trenching,
mapping, surface sampling and possibly metallurgical and bulk sampling
studies. The goal of this program will be to maximize high grade
resources along the Thor Trend and identify additional areas on the
claim block where resources can be defined.
Infill and expansion drilling on the Thor Trend is expected to start
mid-May with one drill rig. This drilling will focus on expanding the
known high grade gold shoots. Northern Abitibi plans to add a second
drill to the project in June subject to availability of drills and
drill crews. This drill will be used to explore the Thor Trend at depth
and test additional targets on the property.
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. 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. The
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. A detailed description of the Viking project is
available on our website (www.naminco.ca).
Options - Northern Abitibi has granted stock options under its Stock
Option Plan to two consultants to purchase up to 75,000 common shares
at an exercise price of $0.12 per share for a period of three years
commencing on April 20, 2011.
Technical Report - The Corporation expects to receive a technical
report next week detailing the March 2011 resource estimate for Viking
which will then be filed on Sedar (www.sedar.com).
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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