Northern Gold Intersects 9.42 g/t Au Over 2.5m and Outlines Significant IP Anomaly at Buffonta
TORONTO, ONTARIO -- (Marketwired) -- 04/18/13 -- NORTHERN GOLD MINING INC. (TSX VENTURE: NGM) ("Northern Gold" or the "Company") is pleased to announce results of six additional diamond drill holes from ongoing surface diamond drilling, as well as preliminary results from a ground induced polarization ("IP") survey on its Buffonta Property, comprised within the Golden Bear Project, 100 km east of Timmins, Ontario.
Drill assay highlights of the drill holes include:
-- 9.42 g/t Au over 2.5m (78.5 to 81.0m) BUF-12-04
-- 9.54 g/t Au over 1.0m (315.0 to 316.0m) BUF-13-06
-- 25.40 g/t Au over 1.0m (111.0 to 112.0m) BUF-13-07
-- 7.19 g/t Au over 1.0m (20.0 to 21.0) BUF-13-08
Drilling
The six drill holes (BUF-12-04, BUF-13-05 to BUF-13-05-09) totaled 2,040 metres. All drill holes successfully intersected gold mineralization at various depths. To date, 24 drill holes totaling 8,128.5 metres have been completed on the Buffonta Kerr grid during the current drilling program. Assay results for the initial 9 holes have now been released.
Drill holes BUF-12-04, BUF-13-05 and BUF-13-06 were collared from a single drill setup on L27+50 to test the western extension of the mineralized zone underlying the Kerr Pit. These three holes were fan-drilled at inclinations of -60 degrees grid south, -60 degrees grid north, and -90 degrees (vertical), respectively to trace stratigraphy and provide information on vein and alteration thickness.
Drill hole BUF-13-07, collared on L26+50 as an undercut of BUF-12-01, was drilled grid south at an inclination of -45 degrees to determine the extent of the initial vein system and structure.
Drill holes BUF-13-08 and BUF-13-09, collared 50 metres apart on L25+50, were drilled grid north at an inclination of -45 degrees, 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.
To date, drilling has confirmed a series of shallow dipping stacked gold mineralized veins/alteration zones over a minimum strike length of 200 metres from the Kerr Pit to the east, with mineralization open to the north 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.
Table 1 - Buffonta Drill Assay Results
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Hole ID Zone Section From Including To Interval Au g/t
(m) (m) (m) (m) Uncut
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38.00 39.00 1.00 2.04
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75.00 82.50 7.50 3.62
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BUF-12-04 Kerr Pit L27+50 78.50 81.00 2.50 9.42
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97.00 99.00 2.00 4.68
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214.00 219.00 5.00 2.27
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68.00 70.00 2.00 4.17
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133.20 136.00 2.80 1.48
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BUF-13-05 Kerr Pit L27+50 153.00 162.00 9.00 1.23
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178.00 183.50 5.50 0.70
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262.00 263.00 1.00 4.06
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296.00 297.00 1.00 2.44
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58.00 60.00 2.00 0.95
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81.00 83.00 2.00 0.91
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88.00 89.00 1.00 1.15
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128.50 130.50 2.00 1.64
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BUF-13-06 Kerr Pit L27+50 138.50 139.50 1.00 1.14
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173.50 180.50 7.00 2.01
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223.00 224.00 1.00 1.05
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239.00 240.00 1.00 3.39
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315.00 316.00 1.00 9.54
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111.00 112.00 1.00 25.40
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BUF-13-07 Kerr Pit L26+50 256.00 260.00 4.00 1.55
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389.00 391.00 2.00 3.34
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11.00 16.00 5.00 1.38
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11.00 12.00 1.00 1.64
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14.00 16.00 2.00 2.59
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20.00 23.00 3.00 3.72
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BUF-13-08 No. 4 Zone L25+50 20.00 21.00 1.00 7.19
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30.00 32.00 2.00 3.01
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55.00 57.00 2.00 1.02
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179.00 180.00 1.00 1.51
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218.00 219.00 1.00 1.01
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223.00 224.00 1.00 1.62
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17.00 21.00 4.00 0.75
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20.00 21.00 1.00 1.32
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24.00 26.00 2.00 1.73
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69.00 70.00 1.00 1.40
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BUF-13-09 No. 4 Zone L25+50 163.00 165.00 2.00 1.11
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163.00 164.00 1.00 1.44
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234.00 235.00 1.00 4.69
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239.00 244.00 5.00 0.83
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242.00 243.00 1.00 1.66
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Notes: Significant assays from 6 drill holes drilled on sections L25+50,
L26+00 and L27+50 west 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
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Section Line Section Line Azimuth Inclination
Hole ID Easting Northing (true) (degrees)
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BUF-12-04 L27+50 99+00 235 degrees -60 degrees
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BUF-13-05 L27+50 99+00 55 degrees -60 degrees
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BUF-13-06 L27+50 99+00 0 degrees -90 degrees
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BUF-13-07 L26+50 100+75 235 degrees -45 degrees
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BUF-13-08 L25+50 100+00 55 degrees -45 degrees
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BUF-13-09 L25+50 99+50 55 degrees -45 degrees
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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.
Surface IP Survey
Northern Gold completed a ground IP survey during the winter exploration program on the Buffonta Kerr grid. A total of 46 line kms of the grid covering the area between the Kerr Pit and No. 5 and 6 Zones was surveyed using pole-dipole time domain IP. Preliminary results indicate the presence of a strong NW-SE-trending chargeability anomaly with a strike-length of approximately 900 metres and widths of up to 600 metres to the southwest of the area currently being drilled. A portion of the southwestern edge of the chargeability anomaly is coincident with a 400-metre long resistivity anomaly that suggests that the shallow mineralized quartz veins/alteration zones may be approaching surface. Northern Gold has retained the services of a consulting geophysicist to provide data interpretation and modeling of the chargeability and resistivity anomalies to guide ongoing drilling and exploration on the Buffonta Kerr exploration grid.
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 TSX Venture Exchange-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. Led by an experienced management team, 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: 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.
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.
Contacts:
Northern Gold Mining Inc.
David Reid
Director, Business Development
416.366.7300 Ext. 104 or Cell: 705.254.8303
dreid@northerngold.ca
www.northerngold.ca