Northern Gold Intersects 23.5 g/t Au Over 4.1m at Jonpol Deposit
TORONTO, ONTARIO -- (Marketwire) -- 03/26/13 -- NORTHERN GOLD MINING INC. (TSX VENTURE: NGM) ("Northern Gold" or the "Company") is pleased to announce results from the first 13 diamond drill holes from its surface diamond drilling program on its wholly-owned Jonpol Deposit comprising a part of the Golden Bear Project, 100 km east of Timmins, Ontario. The 13 drill holes totaled 3,616.5 metres.
Drill assay highlights for the drill holes include:
-- 23.50 g/t Au over 4.1 m (237.9 to 242.0m) JP-12-04
-- 7.25 g/t Au over 3.0 m (63.0 to 66.0m) JP-13-11
-- 5.99 g/t Au over 3.5 m (163.5 to 167.0m) JP-13-23
-- 5.67 g/t Au over 8.0 m (68.0 to 76.0m) JPGT-01
Greg Gibson, President and CEO of Northern Gold, comments: "These results represent Northern Gold's first drilling campaign at the Jonpol Deposit. Infill holes confirm the continuity and tenor of the known resource area while the successful step-out holes provide a glimpse of the potential for resource expansion between and below known mineralized zones."
Table 1 - Jonpol Assay Results (i) - These results are significant drill assays from 13 drill holes on the Jonpol Deposit. JP series drill holes are either infill into or step out from the known Jonpol Deposit Resources while GT series drill holes are geotechnical holes designed to test crown pillar stability.
----------------------------------------------------------------------------
From Inc To Interval Au g/t Au g/t
Hole Zone Section (m) (m) (m) (m) Un-Cut Cut
----------------------------------------------------------------------------
JP-12-01 Footwall 26+50W 306.0 309.8 3.8 3.31
----------------------------------------------------------------------------
JP-12-02 NSV 26+25W
----------------------------------------------------------------------------
JP-12-04 JD Zone 26+00W 215.1 219.0 3.9 3.17
---------------------------------------------
237.9 242.0 4.1 23.49 12.24
---------------------------------------------
240.7 242.0 1.3 67.60
----------------------------------------------------------------------------
JP-13-05 JD Zone 27+00W 120.0 120.7 0.7 2.79
----------------------------------------------------------------------------
JP-13-06 JD Zone 27+50W 207.0 210.0 3.0 5.94
----------------------------------------------------------------------------
JP-13-10 JD Zone 27+50W 317.1 319.0 1.9 3.54
----------------------------------------------------------------------------
JP-13-11 RP Zone 21+25W 63.0 66.0 3.0 7.25
----------------------------------------------------------------------------
JP-13-22 RP Zone 18+25W 194.0 195.0 1.0 4.24
----------------------------------------------------------------------------
JP-13-23 RP Zone 18+75W 163.5 167.0 3.5 5.99
---------------------------------------------
163.5 164.5 1.0 9.50
----------------------------------------------------------------------------
JP-13-24 RP Zone 18+75W 320.0 320.8 0.8 1.77
----------------------------------------------------------------------------
JDGT-01 JP Zone 26+50W 39.0 40.0 1.0 2.43
----------------------------------------------------------------------------
JPGT-01 JP Zone 23+35W 33.0 34.6 1.6 4.28
---------------------------------------------
68.0 76.0 8.0 5.67
---------------------------------------------
72.0 76.0 4.0 8.41
---------------------------------------------
91.0 94.2 3.2 3.01
----------------------------------------------------------------------------
JPGT-02a JP Zone 22+00W 91.0 92.0 1.0 3.65
---------------------------------------------
116.0 120.0 4.0 1.64
---------------------------------------------
142.0 152.0 10.0 1.42
---------------------------------------------
151.0 152.0 1.0 3.75
----------------------------------------------------------------------------
(i) reported intervals are downhole lengths and not true widths. High grade assays are cut to 34.0 g/t NSV - no significant values.
Drill Holes JP-12-01, JP-12-02, JP-13-05, JP-13-06 and JP-13-10 were targeting infill and step out drilling in the upper portion of the JD zone. JP-12-01 was extended and successfully intersected a well-mineralized section of the footwall zone.
Drill Hole JP-12-04 was drilled to test mineralization between the JD and JP zones along an area believed to contain cross faulting. This hole intersected two wide zones of albite-type mineralization with minor amounts of visible gold. This intercept confirms that high-grade mineralization exists outside of the known resources. Mineralization is open below this drill intercept. The mineralized zone sits approximately 175 metres west of the existing underground development.
Drill Holes JPGT-01 and JPGT-02a were drilled into the upper portion of the JP zone as geotechnical holes designed to test the crown pillar stability. A portion of each hole cut through the mineralized resource with favourable results. Similarly JDGT-01 was drilled into the JD zone as a geotechnical crown pillar stability hole but did intersect a mineralized portion of the JP zone.
Drill Holes JP-13-11, JP-13-12, JP-13-22, JP-13-23 and JP-13-24 were drilled to test the upper portion of the RP zone outside of the known mineralized area. Several of these holes intersected shallow high-grade mineralization accessible to planned underground development areas.
Table 2 - Location and Initial Orientation of Drill Holes
----------------------------------------------------------------------------
Section Section
Line Line Azimuth Inclination
Hole ID West North (True) (degrees)
----------------------------------------------------------------------------
JP-12-01 26+50W 15+45N 340 -45
----------------------------------------------------------------------------
JP-12-02 26+25W 15+25N 340 -45
----------------------------------------------------------------------------
JP-12-04 26+00W 14+45N 340 -45
----------------------------------------------------------------------------
JP-13-05 27+00W 15+15N 340 -45
----------------------------------------------------------------------------
JP-13-06 27+50W 14+50N 340 -45
----------------------------------------------------------------------------
JP-13-10 27+50W 13+90N 340 -45
----------------------------------------------------------------------------
JP-13-11 21+25W 15+60N 340 -60
----------------------------------------------------------------------------
JP-13-22 18+25W 14+50N 340 -45
----------------------------------------------------------------------------
JP-13-23 18+75W 15+00N 340 -45
----------------------------------------------------------------------------
JP-13-24 18+75W 14+50N 340 -45
----------------------------------------------------------------------------
JDGT-01 26+50W 15+45N 330 -50
----------------------------------------------------------------------------
JPGT-01 23+35W 15+20N 330 -50
----------------------------------------------------------------------------
JPGT-02a 22+00W 15+30N 330 -50
----------------------------------------------------------------------------
Jonpol Deposit drill plan and long section will be posted on the Company's website at: http://northerngold.ca/golden-bear-project/jonpol-deposit.
Quality Assurance/Quality Control
Northern Gold has implemented comprehensive, industry standard quality-assurance, quality-control protocols for diamond drilling, core recovery, handling, sampling, shipping and assaying. Details of these best practice principals can be viewed on the Company's website at: www.northerngold.ca/QA-QC.php.
The technical aspects of this press release have been reviewed and approved by Gary Nassif, M.Sc., P.Geo., Manager Exploration Services of Northern Gold and the "Qualified Person" as defined by National Instrument 43-101 for the Golden Bear Project.
About Northern Gold
Northern Gold is a TSX Venture Exchange-listed gold company based in Toronto, Ontario. The Company's main focus is the exploration and development of its prospective mineral properties of the Golden Bear Project in the Larder Lake Mining Division, northeastern Ontario. Led by an experienced management team, Northern Gold has a portfolio of advanced exploration projects, including the Jonpol and Garrcon Deposits and the newly acquired Buffonta Property. The recent acquisition of the Harker-Holloway Property and amalgamation with Victory Gold Mines Inc. add to the Company's regional consolidation strategy along the Destor-Porcupine Fault Zone.
CAUTIONARY STATEMENT: This news release contains forward-looking information which is not comprised of historical facts. 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 objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and 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.
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contacts:
Northern Gold Mining Inc.
David Reid
Director, Business Development
416.366.7300 Ext. 104 or Cell: 705.254.8303
dreid@northerngold.ca
www.northerngold.ca