VANCOUVER, BC, June 22, 2021 /CNW/ - Northern Vertex
Mining Corp. (TSXV: NEE) (USOTC: NHVCF) (the "Company" or
"Northern Vertex") a Western U.S. gold producer with
district-scale exploration projects in the Walker Lane Trend, is
pleased to announce that it has significantly expanded its property
holdings around the Moss Mine in NW
Arizona and has obtained property-wide hyperspectral
alteration mineral data.
Northern Vertex has increased the size of its property around
the Moss Mine in NW Arizona from
approximately 47 square kilometers to almost 169 square kilometers
through a combination of staking and land acquisition (Figure 1:
Moss Property Land Package Map). Property expansion was driven by
the results of a detailed review of the regional geology, publicly
available online mineral resources spatial data, and information in
a comprehensive historical database compiled by the Company, which
highlighted the district-scale exploration potential around the
Moss Mine.
Key Points:
- Northern Vertex now controls a district-scale property of
approximately 169 square kilometers in size around the Moss
Mine.
- Property-scale hyperspectral alteration mineral maps have been
acquired and are being used in combination with the Company's
historical database for the broader district to better prioritize
exploration targets.
Northern Vertex President, Michael G.
Allen commented "We are pleased to be able to
establish ourselves as the dominant mineral rights holder in the
Oatman District via staking. The
Oatman district has historical
production of over two million ounces of gold but has seen very
little modern exploration. Establishing a large highly prospective
land package then systematically exploring it is a time-tested
strategy for unlocking shareholder value. We are uniquely
positioned by having an established mine in the district."
Northern Vertex Vice President of Exploration, Warwick S.
Board commented, "The presence of numerous historic mines,
adits, workings, and showings in the broader Oatman Mining District
and their apparent relationship to key regional to local geological
structures, underlined the district-scale potential around the Moss
Mine and was the driver behind acquiring more land. A preliminary
review of the hyperspectral alteration mineral data has already
supported the decision to expand our land package, and it is being
used to optimize our exploration plans."
Hyperspectral Data
Mapping hydrothermal alteration minerals is a powerful tool for
vectoring towards mineralization and mineral deposits.
Alteration minerals have distinct electromagnetic spectral
signatures that can be used to map out their spatial location and
associations. Hyperspectral imaging collects and processes
data from across the electromagnetic spectrum, allowing different
alteration mineral signatures to be differentiated and
mapped. Hyperspectral alteration mineral data were collected
for the entire Moss property using the WorldView-3 satellite. Data
collation and processing was conducted by PhotoSat Information Ltd.
(Figure 2: Hyperspectral Alteration Mineral Map for the Moss
Property). The hyperspectral data is being used in conjunction with
geological mapping, surface sampling, and drilling data, for
exploration target generation and prioritization for follow-up
work.
Qualified Person
Dr. Warwick Board, P.Geo., Vice
President Exploration of Northern Vertex, is the Qualified Person
as defined by NI 43-101 responsible for the Moss Regional
Exploration Project and has reviewed and approved the scientific
and technical information in this news release related thereto.
About Northern Vertex Mining Corp.
Northern Vertex offers investors a rare combination of cash
flow, production, top-tier management, and exceptional exploration
potential within two projects on the Walker Lane Gold Trend of
western Nevada and Arizona. Management is executing a clear
strategy that expands production and resources at the Moss Mine in
Arizona while aggressively
exploring the Hercules Project in Nevada.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX MINING CORP
"Michael G. Allen"
President
TSXV: NEE | USOTC: NHVCF | Frankfurt: 54N | ISIN: CA6660061012 | WKN:
A1JUA0
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.
Cautionary Statement Regarding Forward-Looking
Information
All statements, trend analysis and other information contained
in this press release about anticipated future events or results
constitute forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "expect" and
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. All statements, other than statements of historical
fact, included herein, are forward-looking statements. Although
Northern Vertex believes that the expectations reflected in such
forward-looking statements and/or information are reasonable, undue
reliance should not be placed on forward-looking statements since
Northern Vertex can give no assurance that such expectations will
prove to be correct. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements, including the risks, uncertainties
and other factors identified in Northern Vertex's periodic filings
with Canadian securities regulators. Forward-looking statements are
subject to business and economic risks and uncertainties and other
factors that could cause actual results of operations to differ
materially from those contained in the forward-looking statements.
Important factors that could cause actual results to differ
materially from Northern Vertex's expectations include risks
associated with the business of Northern Vertex; risks related to
reliance on technical information provided by Northern Vertex;
risks related to exploration and potential development of Northern
Vertex's projects; business and economic conditions in the mining
industry generally; fluctuations in commodity prices and currency
exchange rates; uncertainties relating to interpretation of drill
results and the geology, continuity and grade of mineral deposits;
the need for cooperation of government agencies in the exploration
and development of properties and the issuance of required permits;
the need to obtain additional financing to develop properties and
uncertainty as to the availability and terms of future financing;
the possibility of delay in exploration or development programs and
uncertainty of meeting anticipated program milestones; uncertainty
as to timely availability of permits and other governmental
approvals; and other risk factors as detailed from time to time and
additional risks identified in Northern Vertex's filings with
Canadian securities regulators on SEDAR (available at
www.sedar.com). Forward-looking statements are based on estimates
and opinions of management at the date the statements are made.
Northern Vertex does not undertake any obligation to update
forward-looking statements except as required by applicable
securities laws. Investors should not place undue reliance on
forward-looking statements.
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SOURCE Northern Vertex Mining Corp.