Thursday 27th October 2016

Resource Clips

Northern Gold, ValGold report Ontario Gold Assays up to 1.44 g/t over 209m

Northern Gold Mining Inc TSXV:NGM in joint venture with ValGold Resources Ltd TSXV:VAL announced results from the Garrcon Deposit of the Garrison Gold Property in Ontario. Assays include 0.52 g/t gold over 282 metres (including 10.34 g/t over 2 metres and 1.08 g/t over 23 metres) and 1.05 g/t over 293 metres (including 1.44 g/t over 209 metres and 97.88 g/t over 1 metre). Northern Gold has an option to earn up to an 80% interest in the Garrison Gold Property and is the project operator.

Northern Gold President/CEO Martin Shefsky tells, “The Garrcon is a large, bulk-tonnage style open-pittable situation that we’re looking to develop. We’ve been drilling for the last year, getting very good and consistent results—long down-hole lengths of continuous mineralization—that we are very excited about. And obviously the market is starting to be as well. Along with that, just a short while ago we announced some metallurgical results which further define the picture on the Garrcon with better than 97% recovery. Which again is painting a picture that this has got very good potential to be a production scenario in the not-too-distant future. With the updated resource and preliminary economic assessment that will be coming out in the next 30 days, I think we complete the picture and totally de-risk the project.

“Today’s assay results were spectacular,” Shefsky continues. “Again, what we like as a company are these very nice, long down-hole lengths—150, 200, 250 and 300-metre lengths that just build lots of tonnes and ounces. We plan to continue drilling the deposit. We’re working within a 760 by 300 metre footprint to a vertical depth of 200 metres—which we are arbitrarily cutting off. The mineralization from historical holes we see going down well below 500, and it’s just a matter of systematically drilling this deposit off.

“We’ve commenced the initial advanced exploration permitting. We expect to have those late summer or early fall, and then we’ll transition into production permitting when we get to that point. The size of the deposit will keep growing, so really it’s a little bit of a moving target as far as pit development. So it’s something we’ll work on as the year moves along.

“We’re moving this as a company forward in a very systematic and orderly manner to prove to the market that this will be a mine as we develop the various mile stones. We’re knocking them off one at a time.” Shefsky concludes, “We have the metallurgy, we have the newest drill results, we have the updated 43-101. At some point people begin to get the picture.”

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Northern Gold Mining Inc
Martin R. Shefsky

by Ted Niles

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