|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
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Aug. 29, 2016 08:15 AM EDT Reads: 733
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Aug. 29, 2016 08:00 AM EDT Reads: 833
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 29, 2016 08:00 AM EDT Reads: 919
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 29, 2016 07:30 AM EDT Reads: 801
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Aug. 29, 2016 03:00 AM EDT Reads: 2,416
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 29, 2016 02:15 AM EDT Reads: 1,830
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Aug. 29, 2016 02:15 AM EDT Reads: 2,223
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 29, 2016 01:45 AM EDT Reads: 2,192
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Aug. 29, 2016 01:15 AM EDT Reads: 3,021
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Aug. 29, 2016 01:00 AM EDT Reads: 2,260
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 29, 2016 12:00 AM EDT Reads: 1,909
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Aug. 28, 2016 11:15 PM EDT Reads: 2,165
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 28, 2016 10:30 PM EDT Reads: 4,071
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Aug. 28, 2016 08:30 PM EDT Reads: 1,858
Deploying applications in hybrid cloud environments is hard work. Your team spends most of the time maintaining your infrastructure, configuring dev/test and production environments, and deploying applications across environments – which can be both time consuming and error prone. But what if you could automate provisioning and deployment to deliver error free environments faster? What could you do with your free time?
Aug. 28, 2016 08:15 PM EDT Reads: 1,965