-- Posted Thursday, 10 November 2011 | | Disqus
TORONTO, ONTARIO--(Marketwire -11/10/11)- Northern Gold Mining Inc. (TSX-V: NGM.V, NTGMF.PK) ("Northern Gold" or "the Company") announces the Company has retained the services of Mr. Peter Chadwick, MSc, PGeo, PrSciNat., FSEG, as the Manager Project Development. His role will include laying the groundwork for permitting and infrastructure and facilities for the Garrcon Gold Deposit open pit, to be ready for a possible future production decision.
Mr. Chadwick has more than 27 years of experience in mining and exploration of open-pit and underground gold mines. Peter is a graduate of the University of Cape Town with a M.Sc. in geology, and has over 27 years postgraduate experience in mining and exploration. He was previously the Chief Geologist for Kinross Gold Corp's Blanket Mine in Zimbabwe, Principal Project Geologist for Falcon Gold Zimbabwe and more recently VP-Exploration for several Vancouver-based junior explorers. Peter holds professional affiliation with the South African Council of Natural Scientific Professions, the Association of Professional Geoscientists of Ontario and a Fellow of both the Society for Economic Geologists and the Geological Society of South Africa. Mr. Chadwick is qualified to report under NI 43-101, JORC and SAMREC protocols, and resides in Ontario, Canada.
"Peter is an excellent addition to the exploration team who brings with him 27 years of experience in planning and management of exploration programs and managing both underground and surface geology departments in operating mines," said Martin Shefsky, President and CEO of Northern Gold Mining. "Our focus for the upcoming year will be to aggressively advance the development of the Garrcon Gold Deposit This will include a resource update in the first quarter of 2012, continued environmental studies, detailed metallurgical studies, rock mechanics, mine engineering design and permitting activities all leading to a feasibility study. Peter will drive the project development as we continue our aggressive advanced stage exploration program."
Grant of Options
The Company further announces that, pursuant to its Stock Option and Stock Bonus Plan, it has granted incentive stock options of 300,000 stock options with a strike price of $0.25.5/share (closing price as of NGM on the TSX-V as of Nov. 3, 2011), vesting quarterly over the next two years.
About Northern Gold Mining
Northern Gold Mining Inc. is a TSX-V listed, publicly traded junior resource company based in Toronto, Ontario, dedicated to the discovery and development of high value mineral deposits in the proven mining camps of Kirkland Lake and Timmins in North Eastern Ontario. Northern Gold is focused on developing two advanced stage gold deposits on the Garrison Gold Property. The Property is located within the Abitibi greenstone belt along the Porcupine-Destor and the Munro Fault systems. In addition to the advanced stage Jonpol and Garrcon Gold Deposits, both of which have NI 43-101 compliant resource estimates completed, the property hosts several other gold mineralized showings including the less advanced 903 gold mineralized area. Historically diamond drilling by previous operators was completed in all three referenced areas. An NI 43-101 Technical Report was posted on SEDAR October 21, 2009 for Jonpol, and two for Garrcon were posted on SEDAR November 5, 2010 and August 8, 2011, the latter of which includes a Preliminary Economic Assessment. The Garrison Gold Property has historical mining infrastructure at both the Jonpol and Garrcon Deposits, and currently producing mines are located near the property. On May 13, 2011, the Company completed its purchase of 100% ownership of the Garrison Gold Property from ValGold Resources Inc.
The technical aspects of this press release have been reviewed by Michael Gross M.S., P.Geol., Vice President Exploration for Northern Gold, who is the "Qualified Person" as defined by NI 43-101 for this project.
CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Neither 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.
-- Posted Thursday, 10 November 2011 | Digg This Article
| Source: GoldSeek.com
