Northern Vertex Announces Update on Moss Gold Mine Optimization Plan
"Electrical Power; Letter of Intent to Sell Aggregate"
VANCOUVER, May 15, 2017 /CNW/ -Northern Vertex Mining Corp. (TSX.V:NEE) (OTC:NHVCF) (the "Company" or "Northern Vertex") is pleased to provide an update on it's Mine Optimization Plan announced February 23rd, 2017 for the Moss Gold and Silver Mine (the "Project") located in N.W. Arizona. Subsequent to receiving all necessary permits to commence commercial production, the Company continues to improve the economics and environmental footprint of the Project by moving forward on the proposed construction of a powerline to the mine site as well as the sale and distribution of aggregates derived from mine waste rock.
Highlights of the Mine Optimization Plan at Moss:
Proposed Powerline to Provide Clean Utility Electrical Power and Replace Diesel Generators at Moss Mine Site; recent developments to support this initiative include:
- City and County have endorsed the Company's utilization of existing Silver Creek Road and Moss Mine Road Right of Ways, eliminating acquisition costs and time delays.
- Environmental consultant, Westland Resources, Inc. has completed a 100-foot wide Cultural Resources Inventory and a Biological Evaluation along the proposed route.
- Initial 2.3 miles of line to be constructed and donated to Mohave Electric Cooperative (MEC) enhancing public infrastructure to serve all City land-owners on this portion of the Silver Creek Road corridor.
- Remaining 4.6 miles is to be held privately by Northern Vertex's wholly owned subsidiary Golden Vertex Corp.
- AMEC Foster Wheeler awarded the facility design contract, and has completed preliminary design and routing plans for 3.6 miles of line outside of the City.
- An "Application for Transportation and Utility Systems & Facilities on Federal Lands" has been submitted to the BLM (Kingman Field Office) for approval.
Signed Letter of Intent with Tri-R Construction Inc. for the Sale of the Moss Aggregate Waste Rock; details of this arrangement include:
- Five-year agreement for Tri-R to market Waste Rock Products
- Tri-R to pay Vertex $1 per ton of Aggregates sold.
- Tri-R to improve the surface course of the Silver Creek Road and Moss Mine Access Road
- Tri-R to maintain access roadways for the term of the contract
Northern Vertex President and CEO, Kenneth Berry stated, "We are very pleased with the progress of our optimization plan intended to significantly enhance the overall economics of the Moss Mine as well as provide a positive impact to the local community of Bullhead City. The extra efforts carried out by Mohave Electric Cooperative, by our consultants, and by our staff are appreciated. The level of co-operation and assistance extended to us by the engineering staff and government leaders of Bullhead City, Mohave County and the BLM Kingman field Office staff has been instrumental to our progress. The energy cost savings, road improvements and reduction of fossil fuels derived from the program further supports our mandate to adhere to the highest level of operational efficiency and social and environmental responsibility."
Power Line Specifications
The design and permitting progress of the proposed new 14.4/24.9 kV line is a significant initial step in the continuing program to improve infrastructure and enhance economics at the company's 100% owned Moss Mine gold-silver project ("Moss Mine"). The new Aluminum Conductor Steel Reinforced (ASCR) line will enable efficient and reliable supply of clean, utility generated, electric-power to the mine, replacing on site, diesel fueled generators, thereby lowering costs and reducing emissions.
Reduction of fossil fuel emissions
The Moss Mine Feasibility Study; Plan of Operations and Air Quality Permit specify the electric power source for all mine and process operations as on-site generators powered by Tier IV diesel engines (the most environmentally advanced engines available today). However, the installation of a direct powerline, would eliminate the need for the diesel gen-sets, resulting in improved air quality by decreasing emissions of noxious gases and particulates.
Job creation in Local Communities and the State of Arizona
The mining, processing and aggregate activities are expected to create 100+ direct jobs for the local region and the State of Arizona. In addition, ancillary benefits from processing the waste rock include the provision of a lower cost aggregate for both civic and private construction projects in the Bullhead City Region. The improvements to Silver Creek Road will be appreciated by local residents, by tourists and by company employees and contractors.
Qualified Person:
The foregoing technical information contained in this news release has also been reviewed and verified by Mr. Joseph Bardswich, P.Eng., General Manager - Moss Project, and a Qualified Person ("QP") for the purpose of National Instrument 43-101 (Disclosure Standards for Mineral Projects).
About Northern Vertex
Northern Vertex Mining Corp. is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold/Silver Project located in NW Arizona, USA. The Company's management comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth Berry "
President & CEO
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.
Forward-Looking Statements: This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the execution of a Master Lease Agreement and related documents with Cat Financial, drawdowns under the Equipment Finance Facility to fund equipment purchases, timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Northern Vertex Mining Corp.
please visit www.northernvertex.com or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798
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