Northern Empire and Sonoro Complete Phase 1 Hilltop Exploration Program
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 15, 2015) - Northern Empire Resources Corp. (TSX VENTURE:NM) ("Northern Empire"), along with Sonoro Metals Corp. ("Sonoro"), today announced the completion of the field work for the first phase ("Phase 1") of an exploration program at the Hilltop Gold Project ("Hilltop") located 70 km southeast of Fairbanks, Alaska, USA.
John Robins, Northern Empire's Chairman stated: "We believe significant discovery potential exists in the Richardson Gold District, particularly on this large land package at Hilltop. We are also highly impressed with Alaska as an exploration jurisdiction. The combination of ease of permitting, excellent access, ample power, and supportive and competent local expertise reduces risks and costs and provides excellent upside for investors."
Phase 1 Exploration Program Update
DNR Permit #2235 for Hilltop exploration was received May 18, 2015, less than 30 days after Northern Empire's April 20, 2015 submittal application. The Multi-Year 2015-2019 Miscellaneous Land Use Permit for Hardrock Exploration and Reclamation Permit Number 2235 is good for 5 years and is currently sufficient for Northern Empire and Sonoro to significantly expand future exploration activities if warranted. The permit coverage includes trenching; drilling; substantial daily water usage; road improvement on access roads; and up to 3 miles of new road development.
An exploration crew arrived at the Salcha, Alaska operations base in May to prepare for the exploration program at Hilltop. Phase 1 work to date has included the following:
- Successful receipt of DNR Permit #2235
- 8.2 miles (13.2 km) of road improvement to provide better crew and equipment access to priority zones
- Eight trenches excavated and mapped, over a total strike extent of 213 meters
- Six test pits completed in areas with prospective geology and/or hosting anomalous historic results from previous exploration groups
- 228 rock samples collected from trenches and test pits
- 397 soils collected across the Hilltop block including: 61 due diligence top-of-bedrock soils and 336 b- horizon enzyme leach soil samples
- Initial prospecting and reconnaissance work, which includes visiting the locations of anomalous sample sites taken on the property by previous exploration groups
- Soil and rock samples have been prepared and sent to ALS Chemex, Fairbanks (61 top of bedrock and 228 rock trench samples) and ACT Labs, Ancaster, Ontario (524 B horizon soils). Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates in the field.
- Receipt of analytical results from both the soil and rock sampling programs is expected in early July and will be released upon review.
To view a map of the Hilltop Gold Project, please visit Northern Empire's website at http://www.northernemp.com/projects/hilltop/.
Hilltop Definitive Agreement
Pursuant to the two companies signing a letter of intent announced on March 11, 2015, a Definitive Agreement related to the Hilltop Block between Northern Empire and Sonoro was signed on June 12, 2015. The Definitive Agreement grants Sonoro the option to earn a 60% interest in Hilltop, and defines the terms of a joint venture which will be formed thereafter to further explore and develop Hilltop, with Sonoro as the operator.
To exercise the option and earn its 60% interest in the Hilltop Block, Sonoro must spend C$3,000,000 on exploration activities to advance the Hilltop Block and issue 1,000,000 Sonoro shares to Northern Empire, prior to December 31, 2019. A first tranche of 250,000 Sonoro shares has been issued to Northern Empire in conjunction with the signing of the Definitive Agreement. With the completion of the Phase 1 program at Hilltop, Sonoro has fulfilled the 2015 exploration budget commitments as per the option agreement announced March 11, 2015.
About the Hilltop Gold Project
Northern Empire holds a 100% interest in the block of claims forming the Hilltop Gold Project within the broader Richardson Gold District (excluding placer gold). Hilltop is an exploration stage gold project located 70 kilometers southeast of Fairbanks, Alaska and 70 kilometers northwest of Delta Junction in east-central interior Alaska. Hilltop is located approximately 75 km from Sumitomo's Pogo mine (4.973 million ounces at 12.5 g/t gold; http://www.sumitomocorp.co.jp/files/topics/25649_ext_31_en_0.pdf) and 135 south of Kinross's Fort Knox mine (3.8 million ounces at 0.45 g/t Au; http://www.kinross.com/operations/operation-fort-knox-alaska-usa.aspx).
The 31,720 acre (12,836 hectare) Hilltop property is bordered on the south by the all-weather and paved Richardson Highway. In addition, the property is proximal to both a high power electrical transmission line and the Trans-Alaska Pipeline. Access into the interior of the property from the Richardson Highway is via a new system of logging roads and trails which makes most points within the Hilltop project area accessible for exploration activities.
William J. (Bill) Cronk, P.Geo., is Northern Empire's Qualified Person who reviewed and approved the technical information contained in this news release.
About Northern Empire
Northern Empire is a newly formed company which will follow the "Project Generator" business model to take advantage of the depressed market conditions in the resource sector to acquire low acquisition and low holding cost properties with significant exploration potential.
A Project Generator identifies, acquires, and performs early stage exploration on compelling exploration targets before finding project partners to bear the financial risk associated with advanced exploration.
Northern Empire's experienced board and management team feels that executing the Project Generator business model is the most practical way to provide investors the potential excitement and value creation of mineral discoveries, without the financial risks and equity dilution of standard exploration programs.
ON BEHALF OF THE BOARD OF Northern Empire Resources Corp.
James R. Paterson, President, CEO and Director
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.
Contact
Northern Empire Resources Corp.
Jeff Sundar
V.P., Corporate Development
604 646-8356
jsundar@northernemp.com
www.northernemp.com