VANCOUVER, May 1, 2012 /PRNewswire/ --
Northern Vertex Mining Corp. (TSX.V:NEE) (OTCQX:NHVCF) is
pleased to announce the Company has added a second diamond drill
rig to its current 30,000 foot (10,000 metre) in-fill drill and
resource confirmation program on its Lemhi Gold Project, located 25
miles north of Salmon, Idaho.
States Northern Vertex Chief Executive Officer Kenneth Berry, "We are pleased to report the
Company is stepping up drilling activities on the Lemhi Gold
Project through the addition of a second core rig. The second rig
will allow us to double our current drill production at
Lemhi, as we continue our Phase I
program designed to validate and expand upon historic drill results
from previous work conducted on the property."
To date, Northern Vertex reports the Company has completed a
total of 7 holes of its Phase I in-fill drill and resource
confirmation program on the Lemhi Gold Project. Drill core from the
initial phase of drilling has been sent in for assaying and the
first results from the program are expected in the near future.
Lemhi Gold Project
Under a joint-venture agreement between Northern Vertex and
Idaho State Gold Company, LLC ("ISGC", a private Idaho investment company) Northern Vertex
currently holds a 51% interest in the Lemhi Gold Project and has
the right to increase its J/V Interest to 75.5%. (See
news dated September 26,
2011) Northern Vertex is the
operator at the Lemhi Gold Project.
The objective of the current $7.7
million (CDN), Phase I in-fill drill and resource
confirmation program is to prove up and bring to National
Instrument 43-101 standards the historical gold resource previously
identified on the Lemhi property.
The Lemhi Gold Project includes Yamana's interest in the Humbug
Gold Deposit and has a historical non-compliant 43-101 resource of
32.36 million short tons at a grade of 0.0375 ounces per short ton
for 1.21 million contained ounces of gold, as reported by
Pincock Allen & Holt in 1996 (the "PAH
Report"). *Northern Vertex cautions that a qualified
person has not done sufficient work to classify the historical
estimate, or has substantiated any data as it pertains to a
pre-feasibility study, as current mineral resources or mineral
reserves, therefore, it should not be relied upon on as actual
resource or reserve estimates, and should be construed only as
conceptual in nature. The Company is treating the historical
estimate only a guideline to determining potential future mineral
resources or mineral reserves, and not as current mineral resources
or mineral reserves.
The geological disclosure in this press release has been
reviewed and verified by Northern Vertex's Chief Geologist, Dr.
Bob Thompson, PhD P.Eng (a qualified
person for the purpose of National Instrument 43-101, Standards of
Disclosure for Mineral Projects).
About Northern Vertex: Northern Vertex is a gold
exploration and development company operating principally in
the United States and Canada. The Company comprises an experienced
management group with a strong background in all aspects of
acquisition, exploration, development and financing of precious
metal mining projects. The Company's stated mandate is to acquire,
develop and advance gold projects that demonstrate near term
production potential and long-term sustainable growth.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Joseph Bardswich"
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.
For further information:
For further information, please contact Investor Relations at:
+1-604-601-3656 / +1-855-633-8798 or
visit http://www.northernvertex.com