Northern Gold Mining Inc.
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
TORONTO, ONTARIO June 30, 2015 – NORTHERN GOLD MINING INC. (TSX-V: 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. All results are as of June 24, 2015.
• Batch 8: Processed 14,723 dry tonnes grading 1.375 g/t, recovering 631.1 oz Au at 97% recovery
• Batch 8: Processed 14,723 dry tonnes grading 1.375 g/t, recovering 631.1 oz Au at 97% recovery
Total to date:
• Processed 55,348 dry tonnes of mineralized material at an average head grade of 1.59 g/t (69% of the total bulk sample program of 80,000 tonnes) in eight batches by St Andrew Goldfields Ltd (“SAS”) at their Holt Mill. The first batch was processed September 13, 2014, with the most recent complete batch ending May 9th, 2015
• Processed 55,348 dry tonnes of mineralized material at an average head grade of 1.59 g/t (69% of the total bulk sample program of 80,000 tonnes) in eight batches by St Andrew Goldfields Ltd (“SAS”) at their Holt Mill. The first batch was processed September 13, 2014, with the most recent complete batch ending May 9th, 2015
• Recovered 2,708.9 troy ounces of gold from the mineralized material
• Achieved an average mill recovery of 95.5%.
Technical Information and Qualified Person
Eric Moeller
or
• Achieved an average mill recovery of 95.5%.
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.
1) TECHNICAL REPORT ON THE GOLDEN BEAR PROJECT - GARRISON PROPERTY, Report No. 975, A.C.A. Howe International Limited Toronto, Ontario, Canada, Effective Date: December 30, 2013, Signing Date: March 03, 2014, filed by the Company on SEDAR. “Non-diluted Measured+Indicated Mineral Resources considered amenable within the USD$1250 preliminary pit shell to open pit mining (at the Garrcon deposit), totaled 29.2 million tonnes with an average gold grade of 1.12 g/tonne for 1,047,000 ounces”
2) SAS QA/QC protocols follow industry standard for the collection of all samples during milling and during the analysis procedure, one blank, duplicate and control sample are included with every batch analyzed. SGS also utilizes method blanks and the cleaning of bowls and crushers before and after each sample during sample preparation. During fire assaying, method blanks, duplicates and reference materials are randomly inserted with the frequency set at approximately 20% for process control samples
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
For further information on Northern Gold, please contact
Eric Moeller
President & Chief Executive Officer
Tel: 415.669.1489
Email: emoeller@northerngold.ca
or
Joanna Longo
Tel: 416.238.1414
Email: jlongo@northerngold.ca
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 otherthings, 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 thoseexpressed 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 www.sedar.com. 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
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 otherthings, 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 thoseexpressed 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 www.sedar.com. 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
Source: http://www.northerngold.ca/pressreleases/063015.pdf
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