NORTHERN GOLD MINING INC. is pleased to announce updated results from the bulk sampling program at its Garrcon deposit, part of the Company's Golden Bear Project1. All results are as of February 25, 2014.
- Processed 36,110 dry tonnes of mineralized material (45% of the total bulk sample program of 80,000 tonnes) in six batches by St Andrew Goldfields Ltd. ("SAS") at their Holt Mill. First batch was processed September 13, 2014, most recent batch ended February 18, 2015.
- Recovered 1,797 troy ounces of gold from the mineralized material with a realized value of $2,495,935.
- Achieved an average mill recovery of 95%.
Mill availability is at the sole discretion of St Andrew Goldfields Ltd, and the Company has stepped up production to provide at least 12,000 tonnes per month. The higher grade material is now visible in the East Pit.
The Company has made its first quarterly interest payment to the senior secured debt lender.
The Company also announced today that the Financial Statements and Management Discussion and Analysis for the three-months ended December 31, 2014, are now posted on SEDAR.
Technical Information and Qualified Person
The technical aspects of this press release have been reviewed and approved by Mr. Michael Gross, M.Sc., P.Geo., the "Qualified Person" as defined by National Instrument 43-101 for the Golden Bear Project.
1) TECHNICAL REPORT ON THE GOLDEN BEAR PROJECT - GARRISON PROPERTY, Report No. 975, A.C.A. Howe International Limited Toronto, Ontario, Canada, Effective Date: December 30, 2013, Signing Date: March 03, 2014, filed by the Company on SEDAR. "Non-diluted Measured+Indicated Mineral Resources considered amenable within the USD$1250 preliminary pit shell to open pit mining (at the Garrcon deposit), totaled 29.2 million tonnes with an average gold grade of 1.12 g/tonne for 1,047,000 ounces".
Source: http://www.northerngold.ca/