Northern Gold Submits Garrcon Advanced Exploration Closure Plan
07 Maggio 2014 - 3:24PM
Marketwired
Northern Gold Submits Garrcon Advanced Exploration Closure Plan
TORONTO, ONTARIO--(Marketwired - May 7, 2014) - NORTHERN GOLD
MINING INC. (TSX-VENTURE:NGM) ("Northern Gold" or the "Company") is
pleased to announce that it has submitted an advanced exploration
mine closure plan ("Closure Plan"), to the Ministry of Northern
Development and Mines ("MNDM") to remove up to 150,000 tonne bulk
sample from its wholly owned Garrcon Gold Deposit, located on the
Garrison Property. The Garrison Property is Northern Gold's
flagship property within its Golden Bear Project, located 100 km
east of Timmins, Ontario.
The application for an Advanced Exploration permit requires that
a Closure Plan be submitted under Part VII Sections 11-12 of the
Mining Act. The Closure Plan is a document that describes the work
completed to date, the scope of work that is to occur at the mine
site as well as environmental baseline data, engineering data
related to the mine development and rehabilitation measures to be
taken if the project is discontinued. The document includes studies
describing the local water resources, terrestrial and aquatic
surveys, geochemistry, local hydrology including the installation
of monitoring wells, geotechnical drilling and rock stability
studies.
Blue Heron Environmental of Timmins, Ontario was responsible for
the preparation of the report which included studies prepared by
Blue Heron Environmental, Golder Associates and Terrane
Geoscience.
In January of 2014 Northern Gold held public consultation
meetings in the Town of Matheson and at nearby Wahgoshig First
Nation. Both events received positive support for the project.
In conjunction with the filing of the Closure Plan the Company
has submitted financial assurance to the MNDM to cover the cost of
project rehabilitation as required by the Mining Act. The financial
assurance can be reimbursed after the completion of rehabilitation
and project close out as outlined in the Closure Plan.
The MNDM has up to 45 days to review the Closure Plan and upon
approval by the Company will have the necessary permits excavate up
to a 150,000 tonne bulk sample for offsite processing. The Company
feels that this scale of development will be capable of
demonstrating the economic potential of the Garrcon deposit. The
test mining to be conducted over the summer of 2014 will allow for
better definition of project data inputs to be used in a future
feasibility study. The Company will focus on collecting data
related to bulk metallurgical characteristics, geotechnical
parameters, block model reconciliation, blasting techniques and
grade controls.
Martin Shefsky, Interim President and CEO of Northern Gold,
commented: "The submission of the Advanced Exploration Closure Plan
represents a significant milestone in the project's development.
With ministry approval we will have the necessary permits to allow
for the extraction of a 150,000 tonne bulk sample from the Garrcon
deposit with the objective of moving the project towards
feasibility. "
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.
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. Gold
assays were completed by SGS Mineral Services through fire assay
procedures (FAI323 and FAG303). Details of these best practice
principals can be viewed on the Company's website at:
http://www.northerngold.ca/QA-QC.php
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.
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.
Northern Gold Mining Inc.Martin ShefskyInterim President &
Chief Executive Officer647.297.8793mshefsky@northerngold.caNorthern
Gold Mining Inc.Eric SzustakManager, Business
Development905.330.7948eszustak@northerngold.cawww.northerngold.ca
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