Northern Lion Continues to Expand Near Surface Gold Mineralization at St. Nik Project, Republic of Cyprus
21.06.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - June 21, 2011) - Northern Lion Gold Corp. (the "Company" or "Northern Lion") (TSX VENTURE:NL) (FRANKFURT:N3E) has received the final assays from the 2011 drilling program at the St. Nik project, Cyprus. Drill holes 11SN01 and 11SN04 were the last holes to be analysed and were initially considered to have missed the mineralized zone at St. Nik due to structural displacement. Hole 11SN01 encountered gold mineralization from 4.9 metres below surface to 27.50 metres grading 1.32 grams per tonne ("g/t") gold over 22.6 metres. Hole 11SN04 encountered 15.5 metres grading 0.77 g/t gold including 8.5 metres of 1.24 g/t gold starting at 8.05m.The St. Nik drill holes targeted geophysical anomalies generated by the 2011 Induced Polarization ("IP") survey, surface geochemical sampling, and followed up on limited historical reports. This initial seven hole drill program totaling 541.1 metres appears to outline a continuous near surface mineralized horizon which remains open to the south, west and north. This occurrence represents a younger mineralizing event than the typical Cyprus style VHMS deposits which are dominantly hosted within the Lower Pillow Lava sequence. A drill hole location map is available on the Company's website (www.northernliongold.com).
The table below contains all of the significant intercepts at St. Nik.
Hole # From To Interval Au g/t Ag g/t Cu % Zn %
11SN01 4.90 27.50 22.6 1.32 4.24 0.23 0.19
11SN02 10.1 38.7 28.6 4.5 19.08 1.04 0.24
incl 24.9 37.2 12.3 5.8 26.76 1.46 0.15
and 24.9 31.9 7.0 7.56 36.44 1.7 0.78
11SN03 18.45 65.4 47.0 0.56 7.81 0.1 0.22
incl 46.9 59.4 12.5 1.39 21.44 0.1 0.22
11SN04 8.05 23.5 15.5 0.77 0.12 0.16 0.12
incl 8.05 16.55 8.5 1.24 0.1 0.18 0.1
11SN05 49.4 90.8 41.4 0.89 4.2 0.29 0.1
incl 50.8 57.4 6.6 4.77 19.34 0.51 0.14
11SN06 35.45 41 5.6 0.72 21.47 0.1 0.19
11SN07**
** No significant assays
History
The history of mineral exploitation (copper, gold and other metals) on the island of Cyprus dates back to the Bronze Age, approximately 5,000 years ago. The Phoenicians were the first to process copper on the island, followed by the Romans and this activity has continued to the present day. The evidence of this long history of mining is readily observed in the abundant ancient surface and underground workings along with extensive slag heaps. Mineral exploration in the Republic of Cyprus has been at a very low level over the last few decades, and management believes that there is a high probability of additional massive sulphide bodies being present that did not outcrop, as nearly all of the known deposits did.
The metal deposits of Cyprus are dominantly copper-bearing volcanogenic hosted massive sulphide "VHMS" deposits. These deposits are hosted within the pillow lava sequence of the Troodos Ophiolite Complex. The pillow lava sequence is divided into Upper and Lower Pillow Lavas, with the majority of massive sulphide bodies located along the contact between pillow lava sequences, and the remainder between the Lower Pillow Lavas and the Basal Group. All of the Company's applications overlie these important contacts. Gold mineralization associated with the massive sulphide ores has not historically been evaluated.
Quality Control and Assurance
The Company's field activities in Cyprus are under the direction of Jim Chapman, P.Geo. (BC), consultant to the Company and "qualified person", as defined by National Instrument 43-101, who is responsible for the technical content of this news release.
About Northern Lion
Northern Lion Gold Corp. is a Canadian mineral exploration company, listed on the TSX Venture Exchange and the Frankfurt Exchange. The Company is committed to building a strong portfolio of projects within mining-friendly and infrastructure-rich areas of Europe.
In addition to its exploration permits in Cyprus, the Company holds a 100% interest in its Moura Licence in Portugal and a 100% interest in one project in the historic Bergslagen mining district of southern Sweden.
NORTHERN LION GOLD CORP.
John Lando
President
This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, the success of exploration activities and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and, except as required by law, the Company is under no obligation to update or alter any forward-looking information.
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 news release.
Contact Information
Northern Lion Gold Corp.
John Lando
(604) 669-2701 or Toll Free: 1-800-663-0510
info@northernliongold.com
www.northernliongold.com