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Northern Vertex Capital Inc. (TSXV:NEE) announced updates on its 2012 exploration and development programs on its newly consolidated Lemhi Gold project in Idaho, its Moss Gold-Silver project in Arizona, and its Copley Gold project in central British Columbia.
Northern Vertex Capital Inc. (TSXV:NEE) announced updates on its 2012 exploration and development programs on its newly consolidated Lemhi Gold project in Idaho, its Moss Gold-Silver project in Arizona, and its Copley Gold project in central British Columbia. Budget allocations for drilling contracts, technical and manpower requirements for multi-phase exploration and drill programs at both the Lemhi Gold and Moss have been finalized for the Q1 and Q2, 2012 multi-phase programs.
As quoted in the press release:
Consolidated Lemhi Gold Project, Idaho: The Company reports its newly acquired Lemhi Gold project will be the site of extensive drilling and resource development over the current year. Through an upcoming $7.7 million, Phase I development and confirmation drill and resource expansion program, Northern Vertex will be applying the same proven resource growth model to Lemhi that it recently applied to its Moss project in Arizona that resulted in proving up a substantial NI 43-101 gold-silver resource in less than 7 months.
Moss Gold-Silver project, Arizona: The Company reports a phase II drill program recently commenced on the Moss Gold-Silver project in Arizona. The current program is supported by the favorable conclusions returned from a recent Independent Resource Calculation conducted on Moss by Scott E. Wilson Consulting that estimated Moss contains a gold Equivalent Indicated resource of 483,792 ounces and 106,628 Inferred ounces. The current program is designed to test the newly discovered western extension of the Moss Gold-Silver stockwork system.
Northern Vertex CEO, Ken Berry, said:
“We are pleased to report on Company activities as we prepare for a busy year ahead. Our main objective this year is to aggressively develop our gold and silver assets by building on our established ounces. Supported by our recent $13.3 million non-brokered financing, we are currently well funded for an extensive confirmation drill and resource expansion program on the Lemhi Gold project and to accelerate activities at Moss. On the acquisition front, we will continue to evaluate accretive opportunities to grow the company”.
Click here to read the Northern Vertex Capital Inc. (TSXV:NEE) press release
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