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![]() | TORONTO, Feb. 29 Northern Gold Mining Inc. (TSX-V NGM) has kicked off an active 2008 exploration program with a multi-front drilling program which is underway at both its Frederick House Lake property in the Timmins area and its Kirkland-Kirana claim group. This comes on the heels of the recent completion of the Bourke's Mine drilling program. Frederick House Lake Project ---------------------------- Northern Gold has commenced a 2600 metre, 13 hole diamond drill program on its Frederick House Lake property in the Timmins, Ontario area. Frederick House Lake covers an area 9.5 km by 5.0 km and is located approximately 35 km northeast of Timmins, Ontario. Northern Gold holds 18 claims comprising 214 claim units in the area. These Frederick House Lake properties are optimally positioned along the projected western extension of the regional Pipestone Fault, which is spatially associated with a number of historical gold mines and showings. During 2007 Northern Gold Mining, Inc. flew a 361 line km airborne VTEM survey over the lake and collected 1565 MMI samples from the lake bottom sediments as a prelude to the current drill program. The MMI survey outlined two large areas of anomalous Au. The West Anomaly covers an area 2.5 km by 0.8 km with individual MMI Au values to 109 ppb and response ratios to 52.9. The East Anomaly covers an area 2.0 km by 1.0 km with individual MMI Au anomalies to 61.4 ppb and response ratios to 29.8. The primary target of this initial phase of drilling will be the large West MMI Au Anomaly where 10 holes of the 13 hole program will be targeted. There is no record of any diamond drilling of the strata underlying Frederick House Lake in the area within the West Anomaly where Northern Gold intends to drill. The 3 remaining drill holes currently planned will target the East MMI Au Anomaly. To facilitate this "on ice" drilling program, Northern Gold has been working since early January to clear ice roads and 15 drill pads. Present ice conditions are now more than adequate to complete the program. Kirana - Gold Tailings Project ------------------------------ Northern Gold Mining Inc. has also received permission from the Ministry of Northern Development and Mines to proceed with a proposed testing program of gold-bearing tailings located on an 8 claim block which is part of Northern Gold's Kirana Claim Group. The Kirana Claim Group is comprised of 86 contiguous claim units, 4 patent blocks, and the 8 noncontiguous claim units just south of the main group. It extends across 4 townships 5 km to the northeast of the gold-mining camp of Kirkland Lake, Ontario, where more than 24 million ounces of gold have been produced. The tailings to be tested are the main tailings basin from the past producing Sylvanite Mine. They cover an area approximately 0.8 km by 0.5 km in northern Lebel Township. Northern Gold plans to test the tailings using a Simco Earthprobe 200 direct-push drill with a 3" diameter sample tube. Samples will be collected from top to bottom of the tailings along 30 metre spaced grid lines. Samples will be collected every 50 metres, resulting in approximately 260 sample locations. The proposed coverage will total approximately 2000 metres of drilling. The results from this testing will be used to ascertain the economic viability of tailings recovery from this basin. Following successful results, Northern Gold would proceed with metallurgical testing, permitting, and pre-feasibility studies as a prelude to the extraction and recovery of this tailings basin. The Sylvanite Mine, one of the seven mines comprising Kirkland Lake's historic "Mile of Gold", was in production from 1927 to 1961, producing 1,674,808 ounces gold from 5,049,536 tons of ore mined resulting in an average grade of 0.332 opt (11.38 g/t) (Guindon, D.L., Grabowski G.P.B., Meyer, G., Picotte, M.C.M., OGS OFR6204, Report of Activities 2006, Resident Geologist Program, 2007). Seven random tailings samples drilled by previous owners on the Sylvanite tailings during the 1990's yielded assays up to 0.12 opt (4.11 g/t). Other tailings recovery projects from the Kirkland Lake main tailings basin include the Kinross - Kirkland Lake Gold tailings project in production from 1987-1999 and 2002 which processed 3,240,890 tons of tailings to recover 173,659 ounces gold resulting in a grade of 0.054 opt (1.85 g/t) (Guindon, D.L., Grabowski G.P.B., Meyer, G., Picotte, M.C.M., OGS OFR6204, Report of Activities 2006, Resident Geologist Program, 2007). Bourkes Project --------------- The Bourke's Mine drill program was completed on February 9, 2008 with the remaining assay results still pending. Northern Gold is currently proceeding with its permitting requirements to facilitate a possible spring 2008 underground rehabilitation and sampling program at the Bourke's mine. This press release has been reviewed by R.V. Zalnieriunas P.Geo., an independent consulting geologist who is the "Qualified Person" for this project as defined by NI 43-101. Northern Gold Mining, Inc. also announces that in accordance with its stock option plan, Northern Gold has granted stock options to purchase a total of 250,000 common shares of the Corporation to an officer of the company as well as a consultant to the company. These options are granted at an exercise price of $0.25 and they have a 5 year term. This grant of stock options is subject to TSX Venture Exchange approval. Northern Gold Mining Inc. is a well-financed (with over $4,400,000 in the bank) Toronto-based junior resource company dedicated to gold exploration in the proven mining camps of Kirkland Lake and Timmins in Northern Ontario. The goal of our experienced and highly-skilled management team is to maximize shareholder value through successful exploration and the aggressive testing of high quality targets such as our advanced-stage past-producing gold properties located in the Kirkland Lake area. For further information: Northern Gold Mining Inc., Martin Shefsky, President and CEO, Tel: (416) 366-7300, Fax: (416) 366-7301, E: mshefsky@northerngold.ca; Jeffery Boykin, VP Investor Relations Regulatory Affairs, Tel: (416) 366-7300, Fax: (416) 366-7301, E: jboykin@northerngold.ca, Web site: Northern Gold - Welcome
__________________ Information brought to you courtesy of ActionCapitalGroupe.com Sebastien Durand La Centrale Small Caps en Francais Action Capital Groupe |
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