Northern Vertex Mining Corp (TSXV:NEE) is focused on advancing its Moss Mine gold project located in the historic Oatman mining district in Arizona. The company recently won an arbitration ruling, officially securing its 70 percent interest in the project.
Northern Vertex has substantially de-risked the Moss Mine project by conducting a Test Mining Phase which produced more than 4,000 ounces of gold and 20,000 ounces of silver, resulting in more than $5.5 million in gold sales. Following the completion of a robust bankable feasibility study in mid-2015, the company secured indicative term sheets from Macquarie Bank and a major U.S. Bank totaling US$26.5 million.
Supported by its successful pilot production program, the financing will allow Northern Vertex to continue advancing the Moss Mine project towards commercial gold production.