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Northern Vertex Mining Corp. (NHVCF) announced promising results from its Phase II drilling at the Hercules Gold Project in Nevada. The drilling program, covering 7,320 meters, revealed significant near-surface gold and silver mineralization. Notable highlights include high-grade intersections, with some drill holes returning up to 1.89 g/t AuEq. The results confirm the potential for additional discoveries between the Cliffs and Hercules targets. The company is optimistic about Hercules as a district-scale project, partly due to its proximity to its Moss Mine in Arizona, and plans further drilling to explore untested areas.
Northern Vertex Mining Corp. (TSXV: NEE, OTC: NHVCF) announced the resignation of Kenneth Berry as President and CEO, effective February 25, 2021. Douglas J. Hurst, the Chairman, will temporarily assume the CEO role, with Michael G. Allen appointed as President. The company has also changed its fiscal year-end from June 30 to December 31. Additionally, it issued 1,090,000 shares to Iconic Minerals Ltd. as part of an option agreement. Northern Vertex operates the Moss Mine, Arizona’s largest pure gold and silver mine and is exploring the Hercules gold property in Nevada.
Northern Vertex Mining Corp. (NHVCF) announced significant developments at its Moss Mine in NW Arizona, confirming the continuity of the high-grade Ruth Vein over 650 meters, with drilling ongoing. Notable drill results include a 109.8-meter interval averaging 0.79 gpt gold and 24.40 gpt silver. The Ruth Vein remains open for exploration, indicating strong potential for resource expansion and mine life extension. The company aims to consolidate more gold assets in the Western US, aligning with its goal of becoming a mid-tier gold producer.
Northern Vertex Mining Corp. (OTC: NHVCF) reported record production of 14,673 gold equivalent ounces and revenues of $27 million for the quarter ending September 30, 2020, from its Moss Gold Mine in Arizona. This represents a 29% increase in production compared to the previous quarter. Key highlights include record gold production of 13,083 ounces and significant operational efficiencies achieved by replacing diesel generators with grid power, reducing costs substantially. The company plans to enhance throughput and unlock long-term value through ongoing exploration and capital projects.
Northern Vertex Mining Corp. (OTC: NHVCF) has completed its 6.9-mile electrical powerline project, energizing the system on September 9. The Moss mine is now connected to the Mojave Electric power grid, resulting in significant cost savings.
Key benefits include a reduction in electrical costs from $0.31 to $0.08 per kWh, operational savings of $15 to $20 million over the mine's life, and a decrease in all-in sustaining costs (AISC) by approximately $50 per gold ounce. The transition to grid power also provides substantial environmental advantages.
Northern Vertex Mining Corp. (OTC: NHVCF) reports high-grade gold and silver drill results from the Moss Mine in Arizona, confirming the continuity of the Ruth Vein mineralization with notable intercepts including 6.1 meters @ 9.77 gpt gold and 36.28 gpt silver. The ongoing drilling program aims to expand resources and has shown promising results across 25 holes, with gold grades reaching up to 69.3 gpt. The company also issued an additional $0.41 million in convertible debentures, raising a total of $6.71 million. Current operations have achieved significant revenue growth, totaling $18 million for Q2 2020.
