Northern Gold Developing Plans for Bulk Sample at Garrcon Deposit
Toronto, Ontario--(Newsfile Corp. - January 16, 2014) - NORTHERN GOLD MINING INC. (TSXV: NGM) ("Northern Gold" or the "Company") is pleased to announce its intent to submit an Advanced Exploration Closure Plan ("Closure Plan") on its wholly-owned Garrcon Deposit. The Closure Plan will be submitted to the Ontario Ministry of Northern Development and Mines ("MNDM") under O. Reg. 240/00 of the Ontario Mining Act and outlines the Company's plan to conduct bulk sample mining and perform closure of the Garrcon bulk sample project.
On January 9, 2014 the Company submitted a Notice of Project Status to the MNDM along with a Project Description. These documents give a brief outline of the Company's plan to mine and perform closure of the Garrcon bulk sample project and are the first steps in filing a certified mine Closure Plan.
Within the Project Description the Company plans to:
- Conduct detailed definition drilling of near surface resources
- Mine 150,000 tonnes from the Garrcon Deposit using open pit mining methods
- Conduct bulk metallurgical testing of the deposit at an offsite custom milling facility
- Submit hydrological, environmental baseline, geotechnical and engineering studies
- Continue to monitor water quality in the surrounding environment
- Move the project toward full production if bulk sampling and milling confirm the Company's expectation or perform mine closure of the bulk sample pit(s) and surrounding disturbances
The Company intends to submit the mine Closure Plan in March, 2014 and subject to MNDM approval, to start bulk sample operations in May, 2014. The Company is undertaking this crucial step in the development of the Garrcon Deposit to allow for a better understanding of the mineralization and to test methods used in its 2012 preliminary economic assessment.
"We are pleased to be moving forward on completing a bulk sample at the Garrcon Deposit." said Martin Shefsky, Interim President and CEO. "…successful completion of this phase will provide technical data to confirm proof of concept for the Garrcon Deposit and support our efforts to move the project toward feasibility"
As required under the Ontario Mining Act, the Company will be holding two community information sessions in the Town of Matheson and at Wahgoshig First Nation on January 23, 2014. Details of the information sessions can be found on the Company's website, www.northerngold.ca.
The technical aspects of this press release have been reviewed and approved by Michael Gross, M.Sc., P.Geo., the "Qualified Person" as defined by National Instrument 43-101 for the Golden Bear Project.
About Northern Gold
Northern Gold is a TSXV-listed gold company based in Toronto, Ontario. The Company's main focus is the exploration and development of its prospective mineral properties at the Golden Bear Project in the Larder Lake Mining Division, northeastern Ontario. Northern Gold has a portfolio of advanced exploration projects, including the Jonpol and Garrcon Deposits and the Buffonta Property. Recent transactions, including the amalgamation with Victory Gold Mines Inc. and acquisition of the Lac Minerals Property add to the Company's regional consolidation strategy along the Destor-Porcupine Fault Zone.
For further information on Northern Gold, please contact:
Interim President & Chief Executive Officer
Manager, Business Development
Web site: www.northerngold.ca
CAUTIONARY STATEMENT: Neither the 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking statements are characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, Northern Gold's strategic partnership and issuances of securities, and is based on, among other things, the opinions and assumptions of management considered reasonable as of the date of this news release. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required regulatory approvals, changes in equity markets, fluctuations in commodity prices, and other risks involved in the mineral exploration and development industry, including those risks set out in Northern Gold's public documents filed on SEDAR. Although Northern Gold believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Northern Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.