Northern Vertex Announces Phase II Drilling In Southwestern Arizona; Shrs Up 2%, Off Yr High Touched Earlier
Northern Vertex Capital Inc. (NEE.V), a gold exploration and development company operating principally in the United States and Canada, has announced a phase II drilling and development program on its Moss Gold-silver project in Southwestern Arizona. Its shares have touched a year high $1.40.
The company reports the first 4 holes of the program were recently completed, with pending assay results expected imminently. Approximately 20,000 feet of drilling is planned for the phase II program.
The phase II program is designed to expedite the path to a production decision on the Moss Gold-Silver Project and will include: a multi-phase drill program to test the newly discovered western extension of the Moss deposit; infill drilling to render "inferred resources" into the "indicated resources" category; continued scoping and baseline studies to advance the mine permitting process and additional metallurgical testing to further define precious metal recoveries.
Located in a mining friendly jurisdiction in Arizona with very manageable permitting characteristics, the Moss Project is readily amenable to open pit- heap leach mining. That particular area has produced over 2 million ounces of gold, mainly from high-grade underground operation
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