|By Marketwired .||
|May 16, 2014 09:30 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/16/14 -- Northern Vertex Mining Corp. (the "Company") (TSX VENTURE:NEE) (OTCQX:NHVCF) is pleased to announce that it has secured an option on the adjacent Silver Creek property, located to the east and southeast of the current Moss claim block on the Company's Moss Mine Gold-Silver earn-in property located in Mohave County, Arizona, USA.
The Silver Creek Property is 1450 hectares (ha) in size and consists of 180 claims (1198 ha) and one leased State section (259 ha). It adjoins the Moss property to the east and southeast and is located between the Moss property and the main Oatman mining district.
The Silver Creek property has good exploration potential for both Moss type disseminated low grade gold deposits and high grade bonanza type deposits of both the Oatman, low sulfidation type deposits (about 2.2 million ounces produced at average grade of 0.58 opt gold)(1) and Goldfields, high sulfidation type deposits (about 4 million ounces produced at an average grade of 1.0 opt gold)(2).
Dick Whittington, President & CEO Northern Vertex Mining Corp., states, "The Silver Creek property is in an exciting addition to the Company's interests in the region and will add to our potential to make further gold discoveries. We look forward to evaluating the property in conjunction with our Moss Mine property wide exploration programme. The Blue Sky potential of the combined properties is significant and we are hopeful of establishing that potential as reality."
(1) Durning and Buchanan, The Geology and Ore Deposits of Oatman, Arizona. Arizona Geological Digest Volume 15, 1985.
(2) Rockwell, Barnaby W., The Goldfield Mining District, Nevada: An Acid Sulfate Bonanza Gold Deposit. U.S.G.S. October 2000.
The property contains exploration potential in the following areas:
-- The eastern extension of Moss vein (approx. 760 m strike length) -- Several known epithermal veins with grades up to 4 g/t Au in surface samples -- 5 target areas within a large (approximately 1.5km by 5km) high-level, high-sulfidation alteration system with anomalous Au, Ag, Hg, F levels. -- Widespread gold anomalies up to 997 ppb exist. Alteration and textures are indicative of high-level mineralization above possible blind bonanza ore bodies. -- Exploration targets include extension of the Moss vein system and the extension of the Gold Road vein structure where it intersects the United Eastern structure (Gold Road produced 484,000 ounces at 0.32 opt gold to 1942 and United Eastern produced 769,000 ounces at 1.15 opt gold)(1).
To date, only surface work has been carried out (rock sampling, mapping, geophysics). No drilling has taken place. The Company will be developing a comprehensive ground level exploration plan to evaluate the various exploration targets mentioned above. This will complement the Company's property wide exploration plan described in an earlier news release (dated April 1st, 2014) that outlined the prospectivity of the Moss property as a result of a recent Airborne Magnetics Survey and will run concurrent with completion of the feasibility study and development of the Phase II - Operations phase of the Company's business plan.
This property, given its strategic location, will add to the Company's already significant exploration upside in the region. Given that the Moss Mine structure contains 654,000 ounces of M+I AuEq resources and 82,000 ounces of inferred AuEq resources (see below for a detailed breakdown and assumptions used) along 1400 meters of mineralized structure and that the United Eastern, Tom Reed and Gold Road mines produced over 2.0 million ounces along a combined strike length of approximately 2 kilometers of mineralized structure, the Blue Sky exploration potential of the combined Moss mine property and the Silver Creek property can be considered highly prospective.
Terms of The Option Agreement
The mineral lease and option agreement is between the Company and La Cuesta International Inc. (LCI) of Kingman, Arizona and is dated as of May 7, 2014. The key terms are:
-- Term of 35 years. -- US$5,000 cash on execution plus 100,000 Northern Vertex shares (subject to TSXV approval). -- Annual expenditures commence in year 1 at US$10,000 in cash plus a work commitment of US$15,000 and increase gradually to US$50,000 with no work commitment in year 5. In year 3, a one-off $200,000 work commitment is included. -- A production royalty will apply as follows: 1.5% NSR on claims owned 100% by LCI and 0.5% NSR on third party claims within the claim block. NSR rates will be reduced by half once US$4 million is paid in total royalties. All payments other than work commitments are credited against the royalty. -- Option to purchase. Northern Vertex can acquire the claims at any time for US$4 million in any combination of aggregate royalty payments and lump sum payments at its sole discretion.
The Company's operations currently focus solely on the leaching of gold from the pilot plant leach pad operation. The Company continues to exercise fiscal responsibility and has reduced costs, corporately and in the field, in order to preserve cash in the current market environment. Work on the Feasibility Study continues with the immediate focus on reviewing and enhancing the Company's block model based on the most recent drilling (see News Release dated October 17, 2013); and additional geological information made available as a result of the Company's Phase I - Pilot Plant operations.
The foregoing geological disclosure has been reviewed and verified by James McDonald, P.Geo. Mr. McDonald is a director of Northern Vertex and a Qualified Person ("QP") for the purpose of National Instrument 43-101 (Disclosure Standards for Mineral Projects).
Moss Mine Mineral Resource Estimate:
The Moss Mine deposit 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 200 meters vertically. The Moss mineral resources as estimated in the Company's recent preliminary economic assessment as outlined in the Company's News Release dated June 18, 2013, are as follows:
Resource Au Category Eq(i)(oz) Au (oz) Ag (oz) Tonnes Grade AuEq Au Ag (g/t) (g/t) (g/t) Measured 419,000 345,000 3,688,000 12,611,000 1.03 0.85 9.10 Indicated 235,000 192,000 2,142,000 9,978,000 0.73 0.60 6.70 M+I 654,000 537,000 5,830,000 22,589,000 0.90 0.74 8.00 Inferred 82,000 66,000 801,000 3,957,000 0.64 0.52 6.30 -- Gold equivalency is based on a silver: gold ratio of 50:1 and assumes 100% recovery of all metals. -- A 0.30 g/t Au cut-off grade was used. -- Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves estimates. -- Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate and numbers may not add due to rounding. -- Resources were based on 36,805 meters of drilling in 658 exploration drill holes and 530 meters of channel sampling. There were a total of 7,677- 5 meter composite samples used in the estimation of gold and silver. Metal Mining Consultants Inc. (MMC) used Inverse Power Distance (ID3) as the preferred estimation technique for the Moss Project. -- MMC capped gold assays, prior to compositing 5 meter samples, at 17 grams per tonne and silver at 140 grams per tonne in order to limit the effect of high grade outlier grades in the estimation of mineral resources. -- MMC applied Industry Standards in the selection of the drill hole and assay information gathered from historic and current exploration programs in its determination of Measured Mineral Resources, Indicated Resources and Inferred Resources.
About Northern Vertex:
Northern Vertex Mining Corp. is a Canadian based exploration and mining company focused on the reactivation of the Moss Mine Gold-Silver Project located in NW Arizona, USA where the Company has the right to earn-in to a 70% property interest through a Joint Venture with Patriot Gold Corp. 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 220 meters vertically. It is a potential heap leach, open pit project being advanced under a three-phase business plan, specifically designed to ensure that technical, economic, permitting and funding requirements are met prior to each phase proceeding. The Company's management comprises an experienced team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on 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.
To view photos of the Moss Mine Gold-Silver Project, please click on the following link:
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington, President & CEO
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.
Cautionary Note About Forward Looking Information
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.
Cautionary Note to U.S. Investors: This news release uses the terms "Measured", "Indicated", and "Inferred" resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. U.S. investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
2014 number 06
Northern Vertex Mining Corp.
604-601-3656 or 1-855-633-8798
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Feb. 21, 2017 12:45 PM EST Reads: 4,456
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Feb. 21, 2017 12:45 PM EST Reads: 698
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Feb. 21, 2017 12:45 PM EST Reads: 615
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Feb. 21, 2017 12:30 PM EST Reads: 518
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 21, 2017 12:30 PM EST Reads: 1,102
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...
Feb. 21, 2017 12:30 PM EST Reads: 7,937
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Feb. 21, 2017 12:15 PM EST Reads: 1,308
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Feb. 21, 2017 11:45 AM EST Reads: 1,972
Feb. 21, 2017 11:45 AM EST Reads: 1,885
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Feb. 21, 2017 11:45 AM EST Reads: 335
Feb. 21, 2017 11:30 AM EST Reads: 5,101
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...
Feb. 21, 2017 11:30 AM EST Reads: 1,077
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Feb. 21, 2017 11:15 AM EST Reads: 989
In the first article of this three-part series on hybrid cloud security, we discussed the Shared Responsibility Model and examined how the most common attack strategies persist, are amplified, or are mitigated as assets move from data centers to the cloud. Today, we’ll look at some of the unique security challenges that are introduced by public cloud environments. While cloud computing delivers many operational, cost-saving and security benefits, it takes place in a public, shared and on-demand ...
Feb. 21, 2017 11:15 AM EST Reads: 1,209
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
Feb. 21, 2017 11:00 AM EST Reads: 1,922