Northern Lion Begins Follow-up Drill Program in Republic of Cyprus with Partner Centerra
July 07 2014 - 1:12PM
Marketwired Canada
Northern Lion Gold Corp. (TSX VENTURE:NL)(FRANKFURT:N3E) (the "Company") has
commenced a 1,500 metre diamond drill program with project partner, Centerra
Gold (KB) Inc., a subsidiary of Centerra Gold Inc. (collectively "Centerra").
The drill program will follow-up on the 2013 discovery of
volcanogenic-hosted-massive-sulphide-(VHMS)-related mineralization at the
Mavroyi project area. A series of new, untested target areas have been
identified from the Q1 2014 surface exploration program that compiled detailed
mapping and reinterpreted all of the geophysical data (reported June 12, 2014).
Drilling in 2013 discovered a debris flow of transported VHMS-related material
ranging in estimated true thickness from 4.6 metres to 13.01 metres, and
returned a drill interval of 14.05 m averaging 2.12 grams per tonne gold, 16.91
g/t silver, 0.54 per cent copper and 3.25 per cent zinc in hole MVDD13-02
(reported January 22, 2014).
Company President and CEO, John Lando, commented: "We have begun another drill
program funded by our partner Centerra. Our systematic exploration in Cyprus has
delivered us to this point and we are now excited to test several targets that
may represent a buried Massive Sulphide body related to our discovery last year
at Mavroyi."
Under an option agreement, Centerra has the right to acquire up to 70% interest
in several exploration permits located in the Paphos and Larnaca districts. The
Company, through its Cypriot subsidiary Katla Exploration Ltd., is the operator.
Quality Control and Assurance
The Company's field activities in the Republic of Cyprus are under the direction
of Robert Johnston, PGeo (B.C.), a consultant to the Company and qualified
person as defined by National Instrument 43-101. Mr. Johnston is responsible for
the technical content of this news release.
About Northern Lion
Northern Lion is committed to building a strong portfolio of projects within
mining-friendly and infrastructure-rich areas of Europe. Northern Lion currently
has a number of exploration permits in the Republic of Cyprus and is pursuing
other opportunities within the region.
NORTHERN LION GOLD CORP.
John Lando, President
This news release includes "forward-looking information", as such term is
defined in applicable securities laws. The forward-looking information includes,
without limitation, exploration plans of the Company, including the time
thereof, the success of exploration activities and other similar statements
concerning anticipated future events, conditions or results that are not
historical facts. These statements reflect management's current estimates,
beliefs, intentions and expectations; they are not guarantees of future
performance. The Company cautions that all forward-looking information is
inherently uncertain and that actual performance may be affected by a number of
material factors, many of which are beyond the Company's control. Such factors
include, among others, risks and uncertainties relating to exploration and
development; risks arising as a result of the Company operating in Cyprus; the
ability of the Company to obtain additional financing; including through
Centerra funding exploration and development activities pursuant to the option
agreement; the Company's limited operating history; the need to comply with
environmental and governmental regulations; potential defects in title to the
Company's properties; fluctuations in currency exchange rates; fluctuating
prices of commodities; operating hazards and risks; competition; and other risks
and uncertainties. Accordingly, actual future events, conditions and results may
differ materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. All statements are made
as of the date of this news release and, except as required by law, the Company
is under no obligation to update or alter any forward-looking information.
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 NEWS RELEASE.
FOR FURTHER INFORMATION PLEASE CONTACT:
Northern Lion Gold Corp.
(604) 669-2701 or Toll Free: 1-800-663-0510
(604) 687-4670 (FAX)
info@northernliongold.com
www.northernliongold.com
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