Northern Gold Mining Inc TSXV:NGM in joint venture with ValGold Resources Ltd TSXV:VAL announced assay results from the Garrcon Deposit of its Garrison Gold Property in the Abitibi Greenstone Belt, Ontario. Highlights include 0.54 g/t gold over 293 metres (including 1 g/t over 79 metres), 0.6 g/t over 292.5 metres (including 1.4 g/t over 38 metres), 1.62 g/t over 284.6 metres (including 129.68 g/t over 3 metres) and 0.47 g/t over 287 metres (including 1.64 g/t over 62 metres). Northern Gold has an option to earn up to an 80% interest in the Garrison Gold Property and is the project operator.
President/CEO Martin Shefsky tells ResourceClips.com, “The Garrison Gold Project, which is the primary focus of Northern Gold, is developing very quickly. Our drill results continue to confirm the mineralization and the fact that we have a very substantial deposit. The nice long runs of mineralization are what we’re looking for and are very conducive to very low cost, open pit mining. Today’s results, along with the metallurgical results that we put out a little while ago, continue to confirm our expectations, and to derisk the project and move us towards a production scenario in the not-distant future. The plan for 2011 is to continue with our 30,000-metre drill program. Given market conditions we’ll look to increase the number of drills on the property.
“ValGold has been very good. We have a very strong working relationship and we look forward to continuing to work with them.
Shefsky concludes, “We have an updated 43-101 that’s imminent—over the next couple or three weeks—which should further derisk the project as we move toward a large enough number to go to production on. In terms of production we would look at late 2012, early 2013. Overall, we’re very bullish.”
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Northern Gold Mining Inc
Martin R. Shefsky
by Ted Niles