-- Published: Thursday, 30 November 2017 | Print | Disqus
By: Nicholas LePan, GoldSeek.com
It has been a tough five years for miners but this has been a good time for focused companies to prove their metal and move forward. Too often there are companies that come in when the times are good but when the times get tough, projects get sidelined and people disappear. As a testament to the quality of the resource and the management team, one company remained focused and committed during one of the longest bear markets in precious metals.
Northern Vertex Mining (TSX-V: NEE) (OTC – Nasdaq Intl.: NHVCF) is building the Moss Mine located in NW Arizona, USA. The Moss Mine slated to become the next producing gold mine in America, wholly through the incredible efforts of its management and its team. The company is planning on pouring its first gold bar in the next six weeks. As you read this right now, the commissioning of the crushers and conveyors are underway. The plant to process and produce the gold is nearly complete.
All equipment on site has been assembled, loading the heap leach pad with ore and the electrical work is imminent. Depending on the day you visit the site, there are 125 to 170 people working. Currently, the company has Dr. David Stone directing the construction management along with M3. Dave will also be transitioning the construction team and handing off the “Keys” to Bill Martinich and the operation team over the next month.
In addition to this, the company extended the potential mine life of the project with its most recent Preliminary Economic Assessment announced back in October 2017. The 2017 PEA expanded the life of mine to 10 years. In a previous feasibility study completed by the company in 2015, the resource was only modeled on a five-year mine life, as the resource was physically constrained to only the patented land. Northern Vertex could do not disturb any surface considered Bureau of Land Management “BLM” land, and as a result could not include approximately 200,000 ounces of gold into the 2015 feasibility study. However, the new 2017 PEA looked at this land issue and the 200,000 ounces of gold was successfully brought into the mine plan. Permitting the “BLM” land is far easier for exploration than for production.
In a telephone call with GoldSeek.com, CEO Ken Berry outlined the strategy going forward. The company added Frank Hillemeyer and Perry Dunning as exploration advisors for the Oatman District through an agreement with La Cuesta International Inc. These are two geologists with an unparalleled track record with five discoveries to their record including several multi-million-ounce deposits. In Mr. Berry’s words “now we are going to demonstrate the blue-sky potential” with the addition of two exploration advisors. The company is moving forward swiftly with exploration.
According to Mr. Berry, Durning and Hillemeyer are very keen to design an exploration program to grow the resource. They will identify targets for a $10-million (USD) exploration program funded from cash flow once production begins. With mineralization at the Moss Mine open on strike for another kilometer to the west with multiple surface disturbances, the geologists believe they can add additional ounces to the resource and make another discovery.
Northern Vertex has de-risked the project and is well funded with the backing of Greenstone Resources to complete construction and fund further projects to optimize the Moss Mine. Northern Vertex is feeling very confident in their ability to produce.
Northern Vertex, (TSX.V:NEE) (OTC- Nasdaq Intl.:NHVCF) is at an exciting stage for investors. The company is close to production and resource expansion with its shares trading at a discount. The company has demonstrated its ability to advance the Moss Mine through a tough gold cycle and will continue to push through to achieve its production and exploration goals. The company has created momentum against low metal prices headwinds, if the wind changes, Northern Vertex shares will start moving.
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