Drill results please Northern Vertex CEO

Northern Vertex Mining Corp. [NEE-TSXV; NHVCF-OTC NASDAQ Int’l] on Wednesday December 18 announced the results of 29 holes covering 14,140 feet from the reverse circulation infill drill program that was recently completed at the company’s Moss Gold Mine in northwest Arizona.

The program was carried out within the western area of the Moss Mine, west of the current mining operations. The aim was to upgrade the Inferred Resource to Measured and Indicated, and expand the planned pit to the south and to depth.

Highlights include 45 feet of 1.388 g/t gold, 25 feet of 1.488 g/t gold, and 140 feet of 0.919 g/t gold.

Northern Vertex shares were unchanged at 24 cents on Wednesday and trade in a 52-week range of 15.5 cents and 35 cents.

Northern Vertex is a development stage company that recently put its flagship Moss gold-silver project into production. The mine reached the commercial production stage in September, 2018, after the company’s partner Sprott Private Resource Lending LP, agreed to provide up to US$100 million in acquisition and development funding as well as a CAD$2 million private placement.

By deploying low-cost heap leaching recovery methods, Northern Vertex is expecting the Moss project to produce 45,000 ounces of gold equivalent during the first five years of production. Annual cash flow is projected at US$24 million and will be used to fund expansion and acquisitions.

The company is led by Ken Berry, President and CEO, an experienced financier who has outlined a strategy that aims to leverage the company’s strong balance sheet, production, cash flow, and financial partnerships to elevate Nothern Vertex to mid-tier gold producer status, generating over 200,000 ounces of gold production annually.

He plans to achieve that goal via a process of consolidation using the Moss Mine as a springboard.

The recently completed drill program targeted the western area of the Moss resource known as the West Pit. Drilling tested oxide gold mineralization within the Moss mineral resource and at depth beyond the current boundaries of the open pit.

“We are very pleased with these infill drill results, which compare favourably with strongly mineralized holes previously drilled through the main Moss ore body,” said Berry. “Results include intersecting multiple mineralized zones within the Moss vein extension and numerous veins and stockworks in the hanging-wall.”

Berry said mineralization is wide open to the west with historic drill holes and surface sampling defining a 1.7 kilometre-long corridor of gold mineralization, including several long intercepts of Moss mine type gold and silver grades.

“We believe this mineralized corridor is a highly prospective area for expanding mineral resources and reserves at the Moss mine.”

Berry went to say that the completed drill program has boosted confidence in the company’s resource modelling, currently underway with a new block model expected in mid-January, 2020. Drilling will resume in 2020 as the company begins to exploit the western section of the property.