Northern Sphere Mining Corp. (CSE: NSM) (OTCQB: NSMCF) (“Northern Sphere” or the “Company”) is pleased to provide an update on its Lone Mountain Nevada Property (“Lone Mountain”). Located 24 kilometers west of the mining town of Tonapah, Nevada (Figure 1), Lone Mountain displays encouraging early polymetallic assay results. Following a review of historical reports, including a 2011 report by the Nevada Bureau of Mining and Geology, Northern Sphere has determined that the property holds significant exploration targets. Three possible ore deposit models are being scrutinized. The geologic models tabled for evaluation are:
- Polymetallic replacement
- Porphyry molybdenum, also possible copper or copper-molybdenum
- Tertiary epithermal silver-gold (north of area)
Estimates contained in Figure 1 use categories other than CIM definitions for mineral reserves and resources. Mineralization hosted on the deposits in Figure 1 is not necessarily indicative of the mineralization that may be hosted on the Company’s property. Northern Sphere has contracted Goldeni Investment Intelligence to complete a NI 43-101 technical report on Lone Mountain. The 2011 report by the Nevada Bureau of Mining and Geology includes geochemical assay results (from both grab samples and over a 1 metre-wide mineralized quartz vein as disclosed under the Comments heading) (Table 1) that highlight the potential for a significant porphyry style deposit.
Figure 1. The Lone Mountain Nevada Property, 24km west of Tonopah, Nevada and 8 km south of U.S. Highways 95 & 6 in the Lone Mountain mining district.
To view an enhanced version of Figure 1, please visit:
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Table 1. Geochemical anomalies of lead-zinc-silver mineralization present as replacement bodies along fracture zones in carbonate rocks of the Reed Dolomite and Deep Spring Formation in the area.
To view an enhanced version of Table 1, please visit:
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Source: Nevada Bureau of Mining and Geology
Assay number T251g (outlined in Table 1, taken by Bonham & Garside The Nevada Bureau of Mining and Geology) included 35 % zinc, 363 g/t silver, and 4,200 ppm copper on a 1-meter wide vein at surface. Other assays show continuity over a significant area. The amount of cobalt, platinum, and palladium are currently unknown without further exploration, but all elements are expected to be present in some amount.
The Company intends to complete an exploration program that will include a review of all historic data, surface reconnaissance, mapping and sampling to confirm historic findings and direct future programs to help define the potential of these mineralized prospects and the best way to advance the property. Given its location relative to major companies, such as Newmont and Kennecott, the Company believes that it can obtain the necessary data to complete a NI 43-101 technical report quickly.
“This is an exciting new development for the Company that compliments its other high potential properties in Sudbury and Arizona,” states A. John Carter, Chief Executive Officer of Northern Sphere. “The Lone Mountain Nevada Property is located in a prolific mining jurisdiction with all the infrastructure required to explore, develop, and produce at reasonable cost and within a short timeframe.”
Qualified Persons
Ron Wortel P.Eng. an independent Qualified Person as defined by NI 43-101, has reviewed and approved the contents of this news release on behalf of the Company. Given that the 2011 report bythe Nevada Bureau of Mining and Geology was authored by a U.S. government agency, the 2011 report has not been independently verified. However, Mr. Wortel will be providing consulting services to the Company for the preparation of the NI 43-101 Technical Report on the Company’s Nevada Properties through his personal consulting company Goldeni Investment Intelligence .
About Northern Sphere Mining Corp.
Northern Sphere is dedicated to growth through the acquisition and development of mining assets with an emphasis on gold, silver and copper. In efforts to expedite and optimize mineral targeting on its assets, the Company is employing cutting-edge exploration technologies to generate robust mining projects. Headquartered in Toronto, Ontario, Northern Sphere has a strong project pipeline of properties with a focus on gold, silver and other metal production in pro-mining jurisdictions.
Cautionary Statements
This press release contains forward-looking statements which reflect Northern Sphere’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Northern Sphere disclaims any obligation to update these forward-looking statements other than as required by applicable securities laws.
For further information, please contact:
A. John Carter
Chief Executive Officer
Northern Sphere Mining Corp.
Tel: 905-302-3843
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
The post Northern Sphere Mining Corp. Identifies High Grade Mineralization Potential, including 35% Zinc and 963 grams Silver over 1 Metre on its Wholly Owned Nevada Property appeared first on Investing News Network.
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