VANCOUVER, July 16, 2019 /CNW/ - Northern Vertex Mining Corp. (TSX.V: NEE) (OTC Nasdaq Intl.: NHVCF) (the "Company" or "Northern Vertex") is pleased to announce gold and silver production totaling 2,837 gold equivalent ounces (2,580 oz gold and 18,051 oz silver) during the month June and initial results from its Heap Leach Pad Study at the Moss Gold Mine, located in Northwest Arizona.
Kenneth Berry, President and CEO, states: "We are pleased to report June production concludes our strongest quarter to date and we expect to see continued improvement during the next fiscal year. In addition, recent modifications to our Merrill Crowe facility have resulted in our single largest gold shipment of $1.2 million representing 9 days of production. Furthermore, initial Heap Leach Study results confirm feasibility predicted recoveries meaning a significant portion of the contained gold and silver inventory is expected to be drawn down in the following 2 quarters."
Operating Results for the One Month, Quarter and Fiscal Year Ended June 30, 2019:
One Month Ended
June 30, 2019
Three Months Ended
June 30, 2019
Fiscal Year Ended
June 30, 2019(1)
Ore mined (tonnes)
Waste mined (tonnes)
Total mined (tonnes)
Strip ratio (waste/ore)
Tonnes stacked per day (average)
Tonnes stacked per operating day
Contained gold ounces stacked
Contained silver ounces stacked
Gold grade (g/t)
Gold ounces produced
Silver ounces produced
Gold ounces sold
Silver ounces sold
Includes pre-commercial production results
Leach Pad Study of Gold/Silver Inventory at the Moss Mine
The Moss Team initiated a recovery study of the heap leach pad in May 2019. The purpose was to:
Results from the first panel (known as the "Central Panel"), which contains approximately 235,000 tonnes of ore have been received. Results show remarkable consistency in the percolation of solution, both laterally and vertically. Furthermore, the study confirms there are no dry areas, channeling is not occurring, the pad is retaining its moisture as expected and that the recoverable gold and silver in inventory will meet or exceed feasibility predicted recoveries. The full study will include an additional 5 panels and is ongoing.
Jim Gubler, Process Manager states, "The results from the Central Panel indicates that there are approximately 5,000 ounces of recoverable gold contained in this area, of which an estimated 3,000 ounces have already been dissolved in the water held in the heap and need only to be flushed and collected." With the leach solution application plan that we have designed we are projecting that a significant portion of this gold will be recovered over the next several months, which should add to our normal monthly production."
Column Testing Program
The ongoing column test program (using crushed ore samples) is predicting ultimate recoveries of approximately 80% for gold and 60% for silver. The column test work on the crusher samples and the heap leach pad recovery study described above will be used to optimize and shorten the recovery curves going forward, utilizing live ore panels for testing rather than bulk samples that were used in the feasibility. Every current test being run indicates that we should be able to outperform the feasibility recovery curves.
Our operations have made progress in correcting issues that have hampered the process plant since start up. Modifications to the filter press piping, clarifiers and vacuum pump system are nearing completion. We have observed a large decrease in reagent consumption and an immediate improvement in recoveries of gold and silver from the pregnant solutions.
The Company also announces that, subject to the approval of the TSX Venture Exchange, the Company intends to pay director fees to its non-management directors in the aggregate amount of C$170,000 through the issuance to non-management directors of 708,333 common shares of the Company.
The foregoing technical information contained in this news release has also been reviewed and verified by Mr. Joseph Bardswich, P.Eng., a director of the Company and a Qualified Person ("QP") for the purpose of National Instrument 43-101 (Disclosure Standards for Mineral Projects).
About Northern Vertex Mining Corp.
Northern Vertex Mining Corp., the newest gold producer in the US, is focused on low cost gold and silver production at its 100% owned Moss Mine in NW Arizona. The Company has experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. With operations at the flagship Moss Mine achieving commercial production the Company intends to consolidate additional producing or near-term production gold assets within the Western US. Through mergers and acquisitions Northern Vertex's corporate goal is to become a mid-tier gold producer with over 200,000 ounces of gold production annually.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
President & CEO
Neither 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 Note Regarding Forward-Looking Statements:
This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
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SOURCE Northern Vertex Mining Corp.
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