Moss Mine Establishes New Monthly Production Record of 4,733
2020/21 Phase II Drilling Program:
The Phase II infill and near mine drilling program is scheduled to commence in
The four priority targets for the Phase II drill program include:
Ruth Vein – Drilling will target the East/West strike length of the Ruth, located just 150m off the southern edge of theMoss Open Pit , the Ruth Vein has been mapped for over 2kms on surface.- Intersection of
Ruth Vein andMoss Vein – The South dippingMoss Vein and the North dippingRuth Vein , intersect at approx. 200m below surface, drilling will target this prime geological zone along its East/West strike. Gold Bridge Zone – Infill drilling to upgrade the resource between the West and Central pit.Gold Tower Zone – Drilling to expand the West pit stepping out toward the Mordor target.
Immediate Exploration Upside at the
Operational Update:
In addition to the multi-phased exploration program, the Company continues to successfully implement a number of new initiatives to further optimize operations and reduce costs at the
Initiatives completed or underway intended to reduce costs:
- Transition to
McCoy and Sons as our dedicated mining and blasting contractor. Terms of this agreement are expected to result in a significant reduction of mining costs. - A twelve-month study testing an opportunity to lower ASIC with a transition from 1/4" to 3/8" crush size is nearing completion. Final sampling was completed on the 40,000-ton test panel that has been under leach since
July 1 . Definitive data review is being finalized and will be presented and reviewed by our Technical Committee prior to making a production level decision.
Operational Highlights include:
- New monthly production record of 4,733 ounces gold and 42,889 silver ounces produced
- Six consecutive days of +200 ounce daily gold production in
October 2020 . - New single day record for daily gold production set in October at 234 ounces.
- New record value for bi-weekly doré shipment at more than
US$5M in October – 2,371 gold ounces, 19,090 silver ounces. - Completion of the Intermediate Leach System (ILS) to accelerate gold recoveries allowed us to reduce, in total, pad inventory by 800 gold ounces month over month.
- The
Merrill Crowe (MC) plant continues to perform well, processing rates above faceplate levels, while maintaining a gold recovery rate of 99% through the first month of the new quarter.
Safety/COVID 19
Further to the Company's most recent update regarding the COVID-19 Virus, the Company reports no known or suspected cases of infection at the
Qualified Person
The foregoing technical information contained in this news release has also been reviewed and verified by Mr.
About
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth Berry"
President & CEO
Neither
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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