Northern Gold Announces Updated Bulk Sample Results - Batch 8 Grade 1.375 g/t With 97.0% Recovery to Date Recovered 2,708.9 Oz Gold at 95.5% Recovery
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 06/30/15 -- NORTHERN GOLD MINING INC. (TSX VENTURE: NGM) ("Northern Gold" or the "Company") is pleased to announce updated results from the bulk sampling program at its Garrcon deposit, part of the Company's Golden Bear Project(1 ).
All results are as of June 24, 2015.
For the program to date this was the largest continuous run through the mill and it had the highest recovery at 97%. A new head feed sampling protocol was initiated in this batch to quantify the nuggety nature of the visible gold, with pulp metallic screened samples run by SGS Lakefield Laboratory, Lakefield, ON.
"The Company will deliver at least 72,000 total tonnes to the mill in advance of the end of June, the contractual minimum tonnage and end of the Custom Milling contract. We are working with St Andrew Goldfields Ltd to extend the contract time. It is expected that Batch 9 will begin processing the first week of July," said Eric Moeller, President & CEO, Northern Gold Mining, Inc.
Technical Information and Qualified Person
The technical aspects of this press release have been reviewed and approved by Mr. 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 in 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news 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 information is 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, and includes information with respect to, among other things, the uses of proceeds from the Facility, the Company's present and future financial condition, and the ability of the Company to secure additional sources of financing. 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. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining or failures to obtain TSXV or other required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in Northern Gold's management discussion and analysis for the three month period and year ended March 31, 2014 as filed under the Company's SEDAR profile at . Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, among other things, that financing will continue to be available to the Company on favourable terms or at all, the results of the Company's exploration and development activities will be favourable, and all necessary governmental and regulatory approvals, including TSXV approval, will be received as and when expected. 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 applicable securities laws.
Contacts:
Eric Moeller
President & Chief Executive Officer
415.669.1489
Joanna Longo
416.238.1414
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Datum: 30.06.2015 - 11:00 Uhr
Sprache: Deutsch
News-ID 403803
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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