Northern Lion Gold Corp. and the Company's joint venture partner, Centerra Gold (KB) Inc., a subsidiary of Centerra Gold Inc. announces the completion of its 2014 surface exploration program within the Optioned Permits in the Republic of Cyprus.
This program was designed to follow up on the discovery of new volcanogenic-hosted massive-sulphide-(VHMS)-related mineralization in the 2013 drill program that was conducted with Centerra. Drilling in 2013 discovered a debris flow of transported VHMS-related material ranging in estimated true thickness from 6.0 to 14.05 metres ("m") and returned 14.05 m averaging 2.12 grams per tonne (g/t) gold, 16.91 g/t silver, 0.54% copper and 3.25% zinc in hole MVDD13-02 (reported Jan. 22, 2014).
The surface exploration project at Mavroyi began in March of this year and was composed of detailed mapping of the area and a ground geophysical programme which consisted of gravity and Induced Polarzation ("IP") surveys over the prospective area. As well, data from previous geophysical surveys; the 2011 Versatile Time-Domain Electromagnetic survey, flown by Geotech Airborne Malta (reported December 7, 2011), and the 2013 AMT survey data (reported October 10, 2013) was also revisited and reprocessed. A compilation of all of the geophysical data was completed and reinterpreted.
An IP and ground magnetic survey was also conducted at Pano Lefkara.
The resulting geophysical understanding has been combined with the geology and geochemistry and targets have been defined for an upcoming diamond drill program which is expected to commence in late June. The 2014 exploration program is being funded by Centerra.
Company President and CEO, John Lando commented: "We are approaching another very exciting drill program with our partner Centerra Gold. The systematic exploration that we have undertaken in Cyprus to date has validated many of the concepts we have put forward regarding the potential for Gold mineralization associated with these VHMS deposits of Cyprus. Our goal with this drill program is to identify the buried massive sulphide body related to the debris flow discovered last summer at Mavroyi."
Under an option agreement, Centerra has the right to acquire up to 70% interest in several exploration permits located in the Paphos and Larnaca Districts (the "Optioned Permits"). The Company, through its Cypriot subsidiary Katla Exploration Ltd., is the operator during the first year of the option agreement, following which Centerra may elect to assume operatorship (reported May 14, 2013).
Source: http://www.northernliongold.com/