Northern Lion Reconnaissance Drilling Intercepts 12.19 Metres of 2.45 g/t Gold and 1.77% Copper at Anglesides, Cyprus
12.10.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Oct. 12, 2011) - Northern Lion Gold Corp. (the "Company" or "Northern Lion") (TSX VENTURE:NL) (FRANKFURT:N3E) wishes to announce significant gold and copper results from the rotary drilling program on its' 100% owned Anglesides project within the Republic of Cyprus.The Company has received results for seven vertical rotary holes totaling 272.37 metres drilled in the Anglesides project area, and four out of the seven holes returned significant results, (see table below). These assays represent the first results from the ongoing reconnaissance rotary drilling program that began in July 2011. The rotary drill program is designed to follow up on results from the previous diamond drill program and various soil and surface rock samples.
Anglesides Significant Rotary Drill Results:
Rotary Hole From(m) To(m) Interval(m) Au ppm Ag ppm Cu% Zn%
ANRD11-01 12.19 18.29 6.1 1.03 4.5 0.43 0.54
ANRD11-02 12.19 27.43 15.24 1.05 4.32 1.1 0.59
ANRD11-03 3.05 15.24 12.19 2.45 9.08 1.77 0.29
Including 3.05 6.1 3.05 7.35 25 4.65 0.53
ANRD11-05 24.38 27.43 3.05 2.48 6.1 2.58 1.16
m = metres, ppm = parts per million
Three of the holes listed above (ANRD11-02, ANRD11-03 and ANRD11-05) are aligned in an east west direction covering a strike length of approximately 65 metres. The most western hole (ANRD11-03) is located on the eastern edge of the known Anglesides showing. ANRD11-02 was drilled to depth of 38.1 metres, ANRD11-03 had a depth of 30.48 metres while ANRD11-05 was drilled to 45.72 metres. All three of these holes ended in gold mineralization, the last sample in hole ANRD11-02 returned 0.14 grams per tonne ("g/t") gold, the last sample in ANRD11-03 returned 0.33 g/t gold and ANRD11-05 returned 0.16 g/t gold.
This zone of interest is near surface and appears to be flat lying. Additional holes are planned to better define the strike and extent of the mineralized zone.
The Anglesides project was applied for on the basis of historical information derived from the ongoing evaluation of data acquired from the Geological Survey of Cyprus department, and information supplied by the Company's consultants in Cyprus. A small amount of mining occurred in the 1930's by the Cyprus Mines Corporation, when it reportedly extracted 88 long tonnes of cuprous pyrite grading 5.98% copper. At the same time 1,336 short tonnes of auriferous ore were extracted grading 24.5 g/t gold and 86.4 g/t silver.
Drilling by the Geological Survey Department in 1970 located immediately east of the main gossans intersected 15.3 metres of 2.3% copper (gold was not assayed).In 1977, Noranda acquired the project and drilled additional holes and confirmed these results. Noranda also analyzed a portion of this drillhole for gold and returned an interval from 7 to 19 metres that assayed 1.44% copper and 4.4 g/t gold. No other gold assays within the historical drilling appear to have been carried out.
A series of gossanous outcrops occur over an area of 150 by 100 metres within a northerly trending gulley. The Company completed a series of chip and grab samples throughout this gulley and received grab samples as high as 50.1 g/t gold (reported September 15, 2010).
The results continue to support the Company's belief that within the Republic of Cyprus there is an under-evaluated gold mineralizing system in addition to the historically known massive sulphide bodies. The rotary drilling program continues and will test a number of prospective targets.
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 the Company's exploration permits in Cyprus, the Company holds a 100% interest in its Moura Licence in Portugal.
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, President
604-669-2701 or Toll Free: 1-800-663-0510
Northern Lion Gold Corp.
Ian Mitchell
604-669-2701 or Toll Free: 1-800-663-0510
604-687-4670 (FAX)
info@northernliongold.com
www.northernliongold.com