VANCOUVER, July 21, 2011 /PRNewswire/ --
Northern Vertex Capital Inc. (TSX.V:NEE) ("Northern Vertex") is pleased to announce results from an additional 6 holes of its 27,000 foot drilling program on the Moss Gold-Silver Project situated in the historic Oatman Mining district in Mohave County, Northwestern Arizona.
The Company reports assays received from holes 16 through 21 demonstrate the thicknesses and grades encountered are compatible with and build on historical drill results where 30 to 50 meter intervals of 1+ gram gold were reported. The current drill results further validate and build on results reported May 19 and June 22, 2011 for the first 15 holes of the phase 1 program.
States Northern Vertex Chief Geologist Dr. Bob Thompson, "We are very pleased with the thicknesses and grades returned from the recent 6 holes of drilling at Moss, including Hole AR-69C (Table below) that returned 6+ gpt gold equivalent over 13.1 meters. The stockwork system is robust, and the distribution of gold is proving to be consistent both along and across its 5,000 ft strike. Importantly, results to date continue to support the three primary objectives of our current drill program: to verify, build on and extend the Moss epithermal gold-silver system".
Phase 1 drill results will be used in conjunction with the 305 historical holes previously drilled on the property between 1982-2008, to calculate an indicated resource that is NI 43-101 compliant.
Metric Interval Grade True (Intvl) *AuEq To Width Hole ID (m) (gpt) From (m) (m) Au (gpt) Ag (gpt) (M) AR-69C 13.11 6.01 77.72 90.83 4.86 45.8 9.3 including 5.03 12.75 85.8 90.83 10.26 99.5 3.6 AR-70C 36.58 0.75 38.1 74.68 0.61 5.5 28 including 4.57 1.24 38.1 42.67 1.12 4.9 3.5 including 6.1 2.03 62.48 68.58 1.56 18.6 4.7 AR-71C 53.34 1.1 19.81 73.15 0.84 10.4 37.7 including 9.14 3 59.44 68.58 2.35 25.9 6.5 AR-79R 65.43 0.35 111.25 176.68 0.24 4.4 22.4 AR-81R 16.77 0.6 96.01 112.78 0.52 3.2 8.4 AR-83R 22.86 0.51 204.22 227.08 0.44 2.7 13.1
Imperial Grade *AuEq True Width Hole ID Intvl (ft) (opt) (ft) AR-69C 43 0.175 30.4 including 17 0.372 11.7 AR-70C 120 0.022 91.9 including 15 0.036 11.5 including 20 0.059 15.3 AR-71C 175 0.032 123.7 including 30 0.087 21.2 AR-79R 215 0.01 73.4 AR-81R 55 0.017 27.5 AR-83R 75 0.015 43
* AuEq (gpt) = Au (gpt) + 1/40th Ag (gpt)
* Estimated True Width calculated using 70 degree dip to zones of mineralization, it ranges from 34 to 91%;
* opt = troy ounces / short ton
* gpt = grams / metric tonne
The foregoing geological disclosure has been reviewed Dr. Bob Thompson, PhD P.Eng (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects).
For full QC/QA procedures please visit http://www.northernvertex.com/QCQA.html
For complete drill results and estimates please visit http://www.northernvertex.com/extras/drillresults.pdf
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 asset-based gold projects that demonstrate near term production potential and long-term sustainable growth.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
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.
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SOURCE Northern Vertex Capital Inc.