Northern Gold Reports Channel Samples at Buffonta
13 February 2014 - 5:14AM
Marketwired
Northern Gold Reports Channel Samples at Buffonta
TORONTO, ONTARIO--(Marketwired - Feb 12, 2014) - NORTHERN GOLD
MINING INC. (TSX-VENTURE:NGM) ("Northern Gold" or the "Company") is
pleased to announce the results of its summer field exploration
program. During the field season of 2013 (May to October) the
Company was active in exploring surface gold showings on several of
its properties. This press release highlights the results from
channel sampling at the Buffonta property, located south of the
Garrison Project.
Buffonta Property (#5 Zone)
In 2013 the Company excavated the surface outcrop of the
Buffonta #5 zone to complete geologic mapping and channel sampling.
The Buffonta #5 zone is a shear hosted deposit along the Buffonta
Turner fault. The zone has a known strike length of over 150m and
has been traced at depth to over 120m. The #5 zone hosts a
historical resource of 140,988 tonnes @ 4.82g/t (21,860 oz. Au)1. A
qualified person has not done sufficient work to classify the
historical resource estimate as current mineral resources nor is
the Company treating the historical estimate as current mineral
resources. Additional confirmatory drilling would be required to
classify the historical estimate as a current mineral resource. A
table of highlighted surface channel sample results from the #5
Zone are shown below:
Channel IDs |
Grade
(g/t) |
Length (m) |
B53-3 |
3.86g/t |
1.0m |
B54-1,2 |
5.21g/t |
2.4m |
B55-1,2 |
2.55g/t |
2.9m |
B56-4 |
3.31g/t |
1.2m |
B58-1,2,3 |
4.69g/t |
3.1m |
B59-4 |
2.26g/t |
1.1m |
B513-1,2,3 |
3.16g/t |
3.1m |
B514-1,2 |
2.68g/t |
2.0m |
B515-1,2,3,4,5 |
8.98g/t |
5.1m |
B516-1,2,3,4,5 |
14.09g/t |
5.1m |
B517-1,2 |
9.96g/t |
2.1m |
B517-7 |
2.46g/t |
1.0m |
B519-1,2,3 |
5.35g/t |
3.0m |
B520-1,2 |
3.54g/t |
2.0m |
B522-1 |
46.20g/t |
1.0m |
B523-1 |
21.40g/t |
1.0m |
Buffonta Property (Elbow and Roadside Zones)
In 2013 the Company excavated two additional surface outcrops to
complete geologic mapping and channel sampling. The two zones are
near to but not directly related to the #6 and #5 Zones on the
Buffonta property. These two new zones the Elbow and Roadside have
shown anomalous gold tenures and locally higher grade gold
mineralization. A table of highlighted surface channel sample
results from the Elbow and Roadside Zones are shown below:
Channel IDs |
Grade
(g/t) |
Length (m) |
BR5-2 |
1.36g/t |
1.0m |
BR6-3 |
1.50g/t |
1.0m |
BR7-3 |
2.38g/t |
1.2m |
BR8-1 |
1.83g/t |
1.2m |
BE-3 |
8.00g/t |
1.0m |
A map of channel results is shown on the Company's website
at:
http://www.northerngold.ca/sites/default/files/buffonta_channels.pdf
Martin Shefsky, Interim President and CEO of Northern Gold,
comments: "This initial surface exploration work demonstrates near
surface opportunities for higher grade mineralization, and will be
a focus for a future drilling program."
1 White, M.V. 1997. Evaluation Report on the New Buffonta
Property. Gwen Resources
Quality Assurance/Quality Control
Northern Gold has implemented comprehensive, industry standard
quality-assurance, quality-control protocols for diamond drilling,
core recovery, handling, sampling, shipping and assaying. Gold
assays were completed by SGS Mineral Services through fire assay
procedures (FAI323 and FAG303). Details of these best practice
principals can be viewed on the Company's website at:
http://www.northerngold.ca/QA-QC.php
The technical aspects of this press release have been reviewed
and approved by Michael Gross, M.Sc., P.Geo., the "Qualified
Person" as defined by National Instrument 43-101 for the Golden
Bear Project.
About Northern Gold
Northern Gold is a TSXV-listed gold company based in Toronto,
Ontario. The Company's main focus is the exploration and
development of its prospective mineral properties at the Golden
Bear Project in the Larder Lake Mining Division, northeastern
Ontario. Northern Gold has a portfolio of advanced exploration
projects, including the Jonpol and Garrcon Deposits and the
Buffonta Property. Recent transactions, including the amalgamation
with Victory Gold Mines Inc. and acquisition of the Lac Minerals
Property add to the Company's regional consolidation strategy along
the Destor-Porcupine Fault Zone.
CAUTIONARY STATEMENT: Neither the 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. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved of the information contained herein. This news release
contains forward-looking information which is not comprised of
historical facts. Forward-looking statements are characterized by
words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur.
Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is
not limited to, Northern Gold's strategic partnership and issuances
of securities, and is based on, among other things, the opinions
and assumptions of management considered reasonable as of the date
of this news release. Factors that could cause actual results to
differ materially from such forward-looking information include,
but are not limited to, delays in obtaining or failures to obtain
required regulatory approvals, changes in equity markets,
fluctuations in commodity prices, and other risks involved in the
mineral exploration and development industry, including those risks
set out in Northern Gold's public documents filed on SEDAR.
Although Northern Gold believes that the assumptions and factors
used in preparing the forward-looking information in this news
release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Northern Gold disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
Northern Gold Mining Inc.Martin ShefskyInterim President &
Chief Executive Officer647.297.8793mshefsky@northerngold.caNorthern
Gold Mining Inc.Eric SzustakManager, Business
Development905.330.7948eszustak@northerngold.cawww.northerngold.ca
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