Northern Vertex Triples Land Package to Capture Regional Mineral Potential in Oatman Mining District, Arizona
Northern Vertex Mining Corp. (USOTC: NHVCF) has expanded its property around the Moss Mine in NW Arizona from approximately 47 to 169 square kilometers through land acquisition and staking. The expansion highlights the district-scale exploration potential in the Oatman District, known for over two million ounces of historical gold production. The company has also acquired hyperspectral alteration mineral data to optimize exploration efforts. President Michael G. Allen emphasized the strategic importance of this acquisition for unlocking shareholder value.
- Expanded property size to approximately 169 square kilometers around the Moss Mine.
- Acquisition of hyperspectral alteration mineral data enhances exploration targeting.
- None.
VANCOUVER, BC, June 22, 2021 /PRNewswire/ - 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.
FAQ
What recent activity has Northern Vertex Mining Corp. undertaken regarding its land in Arizona?
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