Northern Vertex Amends Resource Estimate for Moss Mine Gold-Silver Project
Northern Vertex Mining Corp. (NEE.V) announces that, as a result of a review by the BCSC, the company is issuing the following news release to correct and update the recent disclosure related to the Company's Moss Mine Gold-Silver Project resource estimate.
NEE retracts the resource estimate contained in news release of February 19. That estimate reflected the Company's initial attempt to estimate the magnitude of the error discovered in the September 2012 resource model. Based on additional information and ongoing analyses related to the Company's preliminary economic assessment work, NEE is now in a position to provide an updated NI 43-101 compliant resource estimate.
The new resource estimate for the Moss Mine Gold-Silver Project includes:
- 12,611,000 tonnes of Measured Resources with an average grade of 0.85 grams/tonne Au and 9.10 grams/tonne Ag, or 1.03 grams/tonne gold equivalent (AuEq)
- 9,978,000 tonnes of Indicated Resources with an average grade of 0.60 grams/tonne Au and 6.68 grams/tonne Ag, or 0.73 grams/tonne AuEq
- 22,589,000 tonnes of Measured and Indicated Resources with an average grade of 0.74 grams/tonne Au and 8.03 grams/tonne Ag, or 0.90 grams/tonne AuEq
- 3,957,000 tonnes of Inferred Resources with an average grade of 0.57 grams/tonne Au and 6.65 grams/tonne Ag, or 0.64 grams/tonne AuEq
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.