$NHVCF
Northern Vertex Provides Hercules Gold Project Exploration Update: Surface Exploration Identifies Four New Target Areas and Potential Links Between Existing Target Areas, Highlighting Property-Scale Exploration Potential
Press Release | 09/07/2021
Northern Vertex Provides Hercules Gold Project Exploration Update: Surface Exploration Identifies Four New Target Areas and Potential Links Between Existing Target Areas, Highlighting Property-Scale Exploration Potential
PR Newswire
VANCOUVER, BC, Sept. 7, 2021
VANCOUVER, BC, Sept. 7, 2021 /PRNewswire/ - Northern Vertex Mining Corp. (TSXV: NEE) (USOTC: NHVCF) (the "Company" or "Northern Vertex") a Western U.S. gold producer with district-scale exploration projects in the Walker Lane Trend, is pleased to provide an update on its 100 square kilometer Hercules Gold Project in western Nevada. Integration of recent and historic surface mapping, sampling, drilling, and property-scale geophysical survey data has resulted in the generation of four new verified gold target areas on the property, as well as indicated the potential for links between existing targets.
Northern Vertex Mining Corp. Logo (CNW Group/Northern Vertex Mining Corp.)
Northern Vertex President, Michael G. Allen commented "We continue to advance the Hercules Project using both traditional and innovative exploration techniques. The results that we have received continue to show that the Hercules Gold Project has the potential to be a significant new discovery in Nevada, and we look forward to drilling on new and expanded targets on the Project."
Key Points:
Four new exploration target areas, Ursa, Como Ridge, Hades, and Jurassic Park have been identified
A sample from the eastern parts of the Hercules exploration target area returned 72.40 g/t gold and 2,690 g/t silver, making it the highest-grade surface rock sample collected on the property to date
Ongoing surface exploration continues to identify and further delineate structure-hosted epithermal precious metal mineralization in multiple areas, highlighting the exploration potential of the broader Hercules property
Results obtained from sagebrush phytogeochemical line sampling conducted over target areas in the north of the property indicate that they may be linked into one large mineralized system
Notice of Intent (NOI) permits have been received for drilling the Sirens and Como-Comets target areas
Exploration target area prioritization is ongoing ahead of the anticipated Q3/2021 receipt of an Exploration Area Plan-of-Operations (PoO) permit, which allows for more flexibility in drillhole location, including parts of the new Jurassic Park target
Exploration drilling is planned for Q4/2021
Northern Vertex Vice President of Exploration, Warwick S. Board commented, "Ongoing surface mapping, sampling, and integrated data reviews are providing support for our geological model of a collapsed volcanic center and our thesis that volcanic hydrothermal systems utilized collapse-related growth faults resulting in epithermal-style mineralization and alteration in multiple locations across the western and northwestern flanks of this volcanic feature. This highlights the exceptional exploration potential of the Hercules property. Additionally, we are very excited that our phytogeochemical vegetation sampling is indicating potential continuity of the epithermal mineralization and alteration zones between outcrop and exploration targets. We are planning additional phytogeochemical sampling to further expand our knowledge of the property."
Geology of the Hercules Gold Project
The Hercules Gold Project, which is located about an hour by car southeast of Reno, consists of a district-scale (approximately 100 square kilometers) property that straddles the flanks of a large collapsed volcanic center in the Walker Lane extensional belt (see News Release dated 20 April 2021). Gold and silver epithermal-style alteration and mineralization appears to be associated with an extensive volcanic center-related hydrothermal system that was variably controlled by extensional structures and rock permeability, being hosted in veins, vein breccia, vein stockwork, and zones of elevated silica alteration in faults, fractures, and, where available, permeable volcanic and volcaniclastic host rocks. Property-scale curviplanar listric faults concentric about the volcanic center and associated lower order structures represent important exploration targets on the Hercules property, especially where these developed in and adjacent to more permeable rock units. Similar volcanic center-related epithermal gold-silver mineralization systems in the Walker Lane tectonic belt include Round Mountain and Bullfrog.
New Exploration Target Areas
Four new exploration target areas have been identified on the Hercules Gold Project through a combination of surface mapping, rock chip sampling, detailed review and integration of the recently reported geophysical data (see New Release dated 20 April 2021), compilation and integration of historic data, and iterative 3D modelling using available drilling data (recent and historic): Ursa, Como Ridge, Hades, and Jurassic Park (Figure 1. Hercules Gold Project Exploration Target Areas).
The Ursa target area is in the central parts of the property and targets listric-fault-hosted epithermal-style veins and altered permeable lithic tuff. There are several historic workings in the area. Limited rock chip sampling conducted to date returned gold grades ranging from below detection to 0.71 g/t and silver grades ranging from below detection to 14.6 g/t (see Table 1).
The Como Ridge target area is located towards the south of the property, along trend of the historic Como mine. The presence of ledges of vuggy silica, diaspore, alunite, and kaolinite in association with intense argillic alteration indicate the potential for the presence of a high sulphidation-style epithermal system in this part of the property. Numerous historic workings are present in and adjacent to the target area. Limited recent rock chip sampling on the target area returned gold grades ranging from below detection to 1.66 g/t and silver grade ranging from below detection to 2.7 g/t.
The Hades target area is in the southernmost part of the property and occurs along a curviplanar listric fault that is along trend of the Como Ridge target area. Historic workings have been found on the target area, as well as epithermal quartz vein float proximal to the large listric fault. Limited recent rock chip sampling returned gold grades ranging from below detection to 4.74 g/t and silver grades ranging from below detection to 70 g/t.
The Jurassic Park target area, which is located towards the east of the Hercules and Sirens target areas, contains numerous epithermal-style quartz veins, silicified outcrops, and associated argillic alteration that parallel and may be a splay off the property-scale Pony Meadows curviplanar listric fault. Limited recent rock chip sampling on the target area returned gold grades ranging from below detection to 0.76 g/t and silver grades ranging from below detection to 5.6 g/t.
Table 1. Surface Rock Sample Assay Summary, New Exploration Target Areas
Target Area
No.
Samples
Gold (g/t)
Silver (g/t)
Range
(g/t)
Average
(g/t)
Range
(g/t)
Average
(g/t)
Ursa
43
<0.005-0.71
0.06
<0.5-14.6
1.3
Como Ridge
21
0.012-1.66
0.16
<0.5-2.7
0.7
Hades
4
<0.005-4.74
1.50
<0.5-70.0
18.2
Jurassic Park
9
<0.005-0.76
0.17
<0.5-5.6
1.3
Additional secondary target areas have been proposed, based on this work, but require further follow-up prior to being elevated to exploration target status.
Existing Exploration Target Areas Update
Rock sampling continues to indicate the presence of elevated structure-hosted epithermal gold and silver mineralization in multiple areas across the property, highlighting the exploration potential of the broader Hercules property (Figure 2. Gold in Rock Samples, Hercules Gold Project; Figure 3. Silver in Rock Samples, Hercules Gold Project ). The Sirens, Pony Meadows, and Como-Comets target areas have expanded as a result of our recent work.
A summary of the rock sample assay results for the existing target areas collected to date is presented in Table 2.
Noteworthy observations from the ongoing surface exploration on the Hercules property include:
Further delineation of the elevated gold and silver mineralization footprint in the Hercules, Sirens, and Como-Comets target areas ahead of drill planning
Collection a rock sample from the easternmost exposed structure on the Hercules target area, which returned 72.40 g/t gold and 2,690 g/t silver (sample 565923), making it the highest-grade rock sample collected on the property to date
Confirmation of the eastward-dipping curviplanar nature of the major mineralization-hosting structures on the Hercules, Cliffs, Sirens, and Pony Meadows target areas.
Rock chip samples were analyzed at the ALS Global Geochemistry Analytical Laboratory in Reno (AU-AA23, Au-AA13, ME-ICP61, Hg-MS42, and Se-MS46 methods).
Table 2. Surface Rock Sample Assay Summary, Hercules Exploration Target Areas
Target Area
No.
Samples
Gold (g/t)
Silver (g/t)
Range
(g/t)
Average
(g/t)
Range
(g/t)
Average
(g/t)
Hercules
220
<0.005-72.40
2.21
<0.5-2,690
41.9
Rattlesnakes
8
0.007-3.58
1.40
<0.5-28.6
12.2
Sirens
41
<0.005-17.00
1.30
<0.5-81.3
12.9
Como-Comets
61
<0.005-7.65
1.03
<0.5-168.0
18.1
Lucky Rusty
18
<0.005-9.22
0.97
<0.5-792.0
53.7
Cliffs
99
0.009-18.00
0.84
0.6-317.0
17.4
Northeast
34
<0.005-3.49
0.74
<0.5-39.2
6.5
Loaves
57
0.018-10.75
0.62
<0.5-113.0
6.4
Sprite
4
0.01-0.69
0.29
0.5-12.7
6.2
Pony Meadows
78
<0.005-6.22
0.22
<0.5-60.1
4.3
Phytogeochemical Sampling
Phytogeochemical sampling uses vegetation as the sample medium for exploration where regular rock chip, soil, and stream samples cannot be taken due to lack of outcrop, subcrop, or in areas covered by alluvium. Vegetation can scavenge and absorb elements in their roots subsurface and move them to surface where samples are collected.
A total of 422 samples of sagebrush were collected along nine biogeochemical lines, following the guidance of Shea Clark Smith/MEG Inc. The sampling covered the Sprite, Lucky Rusty, Rattlesnakes, Loaves, and Northeast target areas, (Figure 4. Gold in Sagebrush, Hercules Gold Project, Figure 5. Silver in Sagebrush, Hercules Gold Project). This part of the Hercules Gold Project is characterized by areas of outcrop separated by areas of alluvium.
Gold assays received range from below detection to 14.9 parts per billion (ppb) with silver assay values ranging from below detection and 4,290 ppb. Values above 1 ppb for gold and silver are considered significant in phytogeochemical sampling.
The samples indicate the presence of anomalous gold and silver metal concentrations in the sagebrush over and between existing targets, particularly along interpreted structural trends in the gap between the Loaves, Cliffs, Northeast, and Hercules target areas, as well as in the gap between the Lucky Rusty and Loaves target areas. These trends indicate that epithermal-style mineralization in outcrop in the main target areas potentially continues underneath the alluvium, and that the various target areas are linked.
Similar trends are noted in other indicator elements including arsenic, antimony, selenium, barium, and mercury.
Sample preparation was conducted by MEG Inc. with sample analyses conducted at the ALS Global Geochemistry Analytical Laboratory in Reno (ME-MS23 method). QA/QC standards and replicate samples were included in each batch at a rate of approximately one in 20 samples.
Permitting for Drilling
The Company has received Notice of Intent permits to conduct drilling on the Sirens and Como-Comets target areas and expects to receive its Exploration Area Plan-of-Operations permit in Q3/2021 (Figure 6. Exploration Area Plan-of-Operations Outline ). The larger PoO permit allows for more flexibility in drillhole location in and around the main Hercules target areas than the previous point-based Plan-of-Operations. This will allow step out drilling to the east of the currently defined target areas to effectively target the interpreted east-dipping host structures to the epithermal mineralization.
Additional Work
Iterative exploration target area refinement is ongoing with continued exploration on the property. Exploration target prioritization has been conducted ahead of an anticipated Q4/2021 drilling program.
Additional phytogeochemical sample lines are in progress over the Pony Meadows, Ursa, and Como-Comets target areas. Further lines are being investigated over geophysical anomalies in areas with no rock outcrop.
Other exploration work that is currently being conducted on the property includes alteration mineral mapping for deposit vectoring, geochronology to constrain the age of mineralization, and fluid inclusion analyses to establish system depth.
Qualified Person
Dr. Warwick Board, P.Geo., Vice President Exploration of Northern Vertex, is the Qualified Person as defined by NI 43-101 responsible for the Hercules Gold Project and has reviewed and approved the scientific and technical information in this news release related thereto.
About Northern Vertex Mining Corp.
Northern Vertex offers investors a rare combination of cash flow, production, top-tier management, and exceptional exploration potential within two projects on the Walker Lane Gold Trend of western Nevada and Arizona. Management is executing a clear strategy that expands production and resources at the Moss Mine in Arizona while aggressively exploring the Hercules Project in Nevada.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX MINING CORP
"Michael G. Allen"
President
TSXV: NEE | USOTC: NHVCF | Frankfurt: 54N | ISIN: CA6660061012 | WKN: A1JUA0
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 release.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements. Although Northern Vertex believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Northern Vertex can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Northern Vertex's periodic filings with Canadian securities regulators. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Northern Vertex's expectations include risks associated with the business of Northern Vertex; risks related to reliance on technical information provided by Northern Vertex; risks related to exploration and potential development of Northern Vertex's projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Northern Vertex's filings with Canadian securities regulators on SEDAR (available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Northern Vertex does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
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