Northern Gold Extends Gold Mineralization at Buffonta and Completes Initial Drilling Program
July 30, 2013 — Toronto, Ontario (Source: Marketwired) — NORTHERN GOLD MINING INC. (TSX VENTURE:NGM) (“Northern Gold” or the “Company”) is pleased to announce the extension of gold mineralization between the Kerr Pit and Zone 6 open pit and the results of the final fifteen diamond drill holes completed from surface diamond drilling on its wholly-owned Buffonta Property, comprised within the Golden Bear Project, 100 km east of Timmins, Ontario.
Drilling assay highlights of the drill holes include:
- 3.07 g/t Au over 2.0m (319.0 to 321.0m) BUF-13-11
- 6.90 g/t Au over 1.0m (208.0 to 209.0m) BUF-13-16
- 1.96 g/t Au over 6.0m (278.0 to 284.0m) BUF-13-18
- 3.13 g/t Au over 5.0m (174.0 to 179.0m) BUF-13-21
- 2.71 g/t Au over 3.0m (120.0 to 123.0m) BUF-13-24
- 1.94 g/t Au over 5.0m (152.0 to 157.0m) BUF-13-24
The final fifteen drill holes (BUF-13-10 to BUF-13-24) totaled 5,094 metres. Fourteen of the fifteen drill holes successfully intersected gold mineralization at various depths. To date, 24 drill holes were completed and totaled 8,128.5 metres on the Buffonta grid. Assay results for the complete 24 diamond drill program are now released.
Drill holes BUF-13-10 to BUF-13-17 were collared to target Zone No. 4. BUF-13-10 to BUF-13-11, collared at L25+00 and 50 metres apart, were drilled grid north at an inclination of -45º, as step outs from the Kerr Pit into Zone No. 4 to the east. Both holes encountered the kimberlitic structure and quartz vein/alteration zone with associated gold mineralization. BUF-13-12 to BUF-13-14, collared at L24+50, were three holes fan-drilled at inclinations of, -45º grid north, -90º (vertical) and -45º grid south, respectively. BUF-13-15 and BUF-13-16, collared at L24+00, were two holes drilled at -90º (vertical), and -45º grid north, respectively. All holes in Zone No. 4 intersected mineralization and were to trace stratigraphy and provide information on vein and alteration thickness.
Drill holes BUF-13-17 to BUF-13-20 were collared to target Zone No. 6. BUF-13-17 and BUF-13-18, collared at L23+50, were two holes drilled at -45º grid north, and -90º (vertical) respectively. BUF-13-19 and BUF-13-20, collared at L23+00, were two holes drilled at -90º (vertical) and -45º grid north, respectively. All holes in Zone No. 6 intersected mineralization and were to display an extent of the existing open pit.
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Drill holes BUF-13-21 to BUF-13-24 were collared to target Zone No. 5. BUF-13-21 collared at L22+50 and drilled at -45º grid north. BUF-13-22 collared at L22+00 and drilled at -45º grid north. BUF-13-23 collared at L21+50 and drilled at -45º grid north. BUF-13-24 collared at L21+00 and drilled at -45º grid north. All holes in Zone No. 5 intersected significant values and have extended the historical resources to the south-east.
To date, drilling has confirmed a series of shallow dipping stacked gold mineralized veins/alteration zones over a minimum strike length of 500 metres from the Kerr Pit to the south-east, with mineralization open to the north, east and south. Gold mineralization has been intersected at a vertical depth of over 275 metres. The kimberlitic fault structure shows a south-dipping, E-W trending fault system interpreted as a conduit for the gold mineralizing fluids. Gold mineralization occurs on both the hanging wall and footwall of the fault structure and associated with a highly deformed/alteration zone.
|Table 1 – Buffonta Drill Assay Results
|BUF-13-10||No. 4 Zone||L25+00||20||21||1||1.48|
|BUF-13-11||No. 4 Zone||L25+00||4||6||2||1.59|
|BUF-13-12||No. 4 Zone||L24+50||57||59||2||1.28|
|BUF-13-13||No. 4 Zone||L24+50||135||143||8||1.23|
|BUF-13-14||No. 4 Zone||L24+50||26||27||1||1.35|
|BUF-13-15||No. 4 Zone||L24+00||No Significant results|
|BUF-13-16||No. 4 Zone||L24+00||208||209||1||6.90|
|BUF-13-17||No. 6 Zone||L23+50||142||143||1||2.51|
|BUF-13-18||No. 6 Zone||L23+50||63||64||1||1.07|
|BUF-13-19||No. 6 Zone||L23+00||43||44||1||1.47|
|BUF-13-20||No. 6 Zone||L23+00||103||104||1||4.57|
|BUF-13-21||No. 5 Zone||L22+50||10.3||12||1.7||1.89|
|BUF-13-22||No. 5 Zone||L22+00||163.6||168||4.4||1.44|
|BUF-13-23||No. 5 Zone||L21+50||188||189||1||1.25|
|BUF-13-24||No. 5 Zone||L21+00||11||12||1||1.05|
|Notes: Significant assays from 15 drill holes drilled on sections L25+00, L24+50, L24+00, L23+50, L23+00, L22+50, L22+00, L21+50 and L21+00 east of the Kerr Pit east towards the No. 5 and 6 Zones. Intervals reported are downhole lengths; true widths of mineralization are not yet known.|
|Table 2 – Location and Initial Orientation of Drill Holes|
|Hole ID||Section Line
Buffonta Property drilling cross sections and a drill plan will be posted on the Company’s website at: http://northerngold.ca/golden-bear-project/buffonta-property
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. 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 Gary Nassif, M.Sc., P.Geo., Manager Exploration Services of Northern Gold and 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 of 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. The recent property acquisitions including the Harker-Holloway Property and amalgamation with Victory Gold Mines Inc. add to the Company’s regional consolidation strategy along the Destor-Porcupine Fault Zone.
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange (“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 release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. 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 objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and 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.
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