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posted on
Aug 04, 2010 09:14AM
The company’s strategic direction is to continue to seek out properties and claims in the area known to have high value gold targets and to execute the necessary work to rapidly move these projects towards advanced exploration and mine development stages.
Press release from Marketwire
Wednesday, August 04, 2010
TORONTO, ONTARIO--(Marketwire - Aug. 4, 2010) - Northern Gold Mining Inc. (TSX VENTURE:NGM) ("Northern Gold" or "the Company") announced today assay results from the first three diamond drill holes (holes 11, 12 & 13) in the 2010 Phase II diamond drilling of the Garrcon Project. The project is one of the Company's gold projects located within the Garrison Township gold property, which it holds under an option agreement from Valgold Resources Ltd.
The assay results reported are for the first three holes completed in the 10 hole, 2,399 meter Phase II program. Assays from the other seven holes are pending from the assay laboratory. Drill holes are designed to infill areas adjacent to and between previous drill holes in the Garrcon Shaft and North Zones in mineralization that may be amenable to bulk mining, previously identified in diamond drill holes over an east/west strike length of about 350 meters and a north/south width of approximately 200 meters. Drill hole spacing varies from less than 25 meters to about 125 meters.
The following table highlights significant mineralized intersections in the holes:
---------------------------------------------------------------------------- Hole ID From (m) To (m) Length (m) Grade Zone ---------------------------------------------------------------------------- GAR-10-11 4.5 31.0 26.5 0.97 g/t Shaft ---------------------------------------------------------------------------- Includes 4.5 20.0 15.5 1.37 g/t Shaft ---------------------------------------------------------------------------- GAR-10-11 83.0 88.5 5.5 1.57 g/t Shaft ---------------------------------------------------------------------------- GAR-10-12 3.9 233.0 229.1 0.61 g/t Shaft ---------------------------------------------------------------------------- Includes 4.4 14.7 10.3 2.36 g/t Shaft ---------------------------------------------------------------------------- Includes 4.4 5.4 1.0 16.67 g/t Shaft ---------------------------------------------------------------------------- Includes 80.0 223.0 143.0 0.76 g/t Shaft ---------------------------------------------------------------------------- Includes 80.0 101.0 21.0 1.32 g/t Shaft ---------------------------------------------------------------------------- Includes 94.0 95.0 1.0 11.82 g/t Shaft ---------------------------------------------------------------------------- Includes 190.5 223.0 32.5 1.59 g/t Shaft ---------------------------------------------------------------------------- Includes 209.0 223.0 14.0 3.12 g/t Shaft ---------------------------------------------------------------------------- GAR-10-13 32.0 43.6 11.6 1.25 g/t North ---------------------------------------------------------------------------- Includes 35.0 43.6 8.6 1.57 g/t North ---------------------------------------------------------------------------- GAR-10-13 56.0 61.0 5.0 1.13 g/t North ---------------------------------------------------------------------------- GAR-10-13 132.0 134.0 2.0 1.20 g/t North ---------------------------------------------------------------------------- (i)All lengths are downhole lengths as true widths have not been determined at this time
"The broad zones of gold mineralization intercepted continue to reinforce that the Garrcon Project has the potential to be developed into a bulk minable deposit," said Martin Shefsky, President of Northern Gold Mining Inc. "Assay results of the remaining phase II drill holes will continue to be reported concurrently with detailed geological mapping, trenching, and systematic channel sampling of the newly discovered 1070 vein. Refinement of diamond drill targets to the east of the main Garrcon shaft zones will further test the size of this newly discovered vein system and add to the overall resource estimate."
Holes GAR-10-11 and GAR-10-12 were both drilled with a southerly azimuth and a dip of 45 degrees. Both holes are located along mine grid line 12+00 west and designed to reduce drill spacing along the line to approximately 30 meters. Both holes intersected mineralization as expected and continue to expand the known extent of mineralization within the Shaft Zone. The zone of gold mineralization intersected in GAR-10-12 had an average grade of 0.6 g/t over a down-hole length of 229 meters, continuing to support earlier indications that the Garrcon mineralization may be amenable to exploitation using bulk mining open pit techniques.
GAR-10-13 was drilled with a northerly azimuth and a dip of 45 degrees into the North Zone and was drilled along mine grid line 12+50W. The hole is designed to fill-in between drilling by previous operators and is stepping out from GAR-09-09 to the west about 50 meters. Gold mineralization is of similar appearance and grade to nearby holes, including GAR-09-09, and the closer spacing improves the reliability of assumptions of continuity for future resource estimates.
Diamond drilling was temporarily suspended after Phase II for 2.5 weeks and resumed on July 19, 2010 for Phase III infill and development drilling consisting of another 10 to 12 drill holes varying in length from 70 to 300 meters. These holes are designed to continue filling-in between previous holes to both improve the continuity and reliability of known information and add additional areas of mineralization for future resource estimation.