VANCOUVER, British Columbia, Aug. 28, 2017 (GLOBE NEWSWIRE) -- Northern Empire Resources Corp. (TSXV:NM) (the “Company” or “Northern Empire”) today announced the commencement of reverse circulation drill testing of high priority target zones on the Sterling Gold Property, located in Nye County, Nevada.
The drill program is designed to confirm and expand the inferred gold resources* at the Sterling Gold Property, starting with the Daisy and Secret Pass deposits. The Daisy deposit hosts an inferred pit constrained mineral resource 174,000 oz of gold (“Au”) at an average grade of 2.12 g/t Au*, while the Secret Pass inferred pit constrained resource is 188,000 oz of gold at an average grade of 1.65 g/t Au*.
Once initial drilling has been completed at Daisy and Secret Pass the drill rig will be moved to the Sterling Mine to complete infill, resource expansion, and exploration drilling. The Sterling Mine is permitted for restart of open pit mining and heap leaching and hosts an inferred pit constrained resource of 231,000 oz Au, grading 3.67 g/t Au*.
* The resource numbers in this release are quoted using a 1 g/t Au cutoff. For further information on the resource estimates of the Sterling Gold Property, please refer to the Company’s July 18, 2017 Technical Report on the Sterling Property.
In addition to the ongoing drilling, the Company has flown a helicopter based geophysical survey over the entire 95 square kilometer property collecting magnetic and radiometric data. This data, combined with recently acquired hyperspectral data, will assist the Company in identifying new exploration targets in this under explored portion of Nevada.
Sterling Property Highlights
- High Grade Gold in Nevada. Total inferred resources on the Sterling Property were estimated at 709,000 oz Au with an average grade of 2.23 g/t Au*.
- Permitted to begin operations. The Bureau of Land Management has issued a Finding of No Significant Impact (“FONSI”) and approved the next phase of mining at the Sterling Mine. This permit was issued on May 12, 2016, is transferable, and has an indefinite term.
- Prior Successful Mining. The Daisy and Secret Pass deposits were successfully mined and heap-leached in the late 1990’s.
- Location. The Sterling Property is located approximately 185 kilometers NW of Las Vegas on the eastern flank of the Bare Mountains.
About Northern Empire
Northern Empire is an aggressive, Vancouver based, gold explorer working to take advantage of the current improving market conditions by assembling a value driven portfolio of properties.
Qualified Persons
Michael G. Allen, P. Geo., President of Northern Empire, and a Qualified Person as defined by NI 43-101, has reviewed the technical information contained in this news release. He is the non-independent qualified person for this new release and has verified the data.
ON BEHALF OF THE BOARD OF NORTHERN EMPIRE RESOURCES CORP.
“Michael G. Allen”
President, CEO and Director
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.
Certain information set forth in this news release contains “forward-looking statement”, and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company’s expectations about the completion of the proposed private placement future performance based on current results and expected cash costs and are based on the Company’s current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “will”, “expects”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which, may cause the Company’s actual performance and financial results in future periods to differ materially from any projects of future performance or results expressed or implied by such forward-looking statement. These risks and uncertainties include, but are not limited to: ability to raise sufficient funds for the acquisition; liabilities inherent in mine development and production; geological risks, the financial markets generally, the results of the due diligence investigations to be conducted by the Company, the ability of the Company to complete the Private Placement or obtain requisite TSX Venture Exchange acceptance. There can be no assurance that forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipate in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.