TORONTO, ONTARIO — (Marketwire) — 03/02/12 — NORTHERN GOLD MINING INC. (TSX VENTURE: NGM) („Northern Gold“ or the „Company“) today announced several high-grade and significant interval gold assay results from diamond drill holes. Northern Gold also announced the discovery of an apparent new zone, referred to as the Green Zone, near the north boundary of its Garrcon Gold Deposit on its Garrison Gold Property.
Results presented here are from 24 additional diamond drill holes and 2 hole extensions from 10,126 meters of drilling, forming part of the total 42,632 meter drilling program conducted in 2011 on the 100% owned Garrison Gold Property, located 100km east of Timmins, ON.
Highlights of Assays from Recent Drill Results Reported Below:
„We continue to add value to our Garrison Gold Property with the discovery of a Green Zone on the north boundary of the Garrcon Deposit,“ said Martin Shefsky, President and CEO of Northern Gold Mining Inc. „Discovery of this additional zone is a major advancement towards Northern Gold-s goal of developing a resource large enough to justify development of a large, bulk mineable, open pit mine.“
Green Zone:
Geological interpretation of recent and earlier drill holes has identified intercepts of gold mineralization on the north side of the ultramafics that have been previously described in multiple press releases and Technical Reports as being the northern boundary of gold mineralization for the Garrcon Deposit.
Recent drill holes (See Tables 1 & 3) that were drilled through the ultramafics encountered a distinctive green colored rock that assayed above a cutoff grade of 0.3 g/tonne (From Technical Report posted on SEDAR August 8, 2012). This new zone is being called the Green Zone and includes mineralized intercepts as short as 1.0 meters to as much as 66 meters.
In the eastern portion of the resource footprint (Table 3), Green zone mineralization is presently known to have a strike length of at least 100 meters from Section Line 7+50 W to 8+50 W and to extend vertically from surface to 225 meters to 425 meters below the surface. In the western portion of the Deposit (Table 1), Green Zone mineralization occurs over a strike length of 200 meters from Section Line 12+50 W to 14+50 W and from a vertical depth of 60 meters to 550 meters below the surface.
Assay Results:
Significant composite assay intervals in the 24 drill holes and 2 hole extensions are outlined below in four Tables. The Tables group the drill holes by areas within the resource footprint and by targeted zones.
Table 1 – Assay Results(i) – Drill holes are drilled along northwest portion of resource footprint between Section Lines 12+50 W and 13+75 W.
Table 2 – Assay Results(i) Drill holes are vertical definition delineation holes in the South half of resource foot print between Section Lines 8+50 W and 9+50 W.
Table 3 – Assay Results(i) – Drill holes are mostly vertical definition and delineation holes in the North half of the resource footprint focused on both the North Zone and Green Zone between Section Lines 7+50 W and 9+50 W.
Table 4 – Assay Results(i) Step out drill holes testing for and delineating gold mineralization along the eastern strike extension of the Garrcon Deposit.
Complete details of these holes in both cross-section and plan can be viewed on the Company-s website at:
Quality Control / Quality Assurance
Northern Gold uses comprehensive, industry standard QA/QC protocols for diamond drilling, core recovery, handling, sampling, shipping and assaying. Details of these protocols can be viewed on the Company-s website at:
About Northern Gold Mining: Northern Gold is a TSX-V listed, publicly traded junior resource company based in Toronto, Ontario, dedicated to the discovery and development of high value mineral deposits in the proven mining camps of Kirkland Lake and Timmins in Northeastern Ontario. Northern Gold is focused on developing two advanced stage gold deposits on its 100% owned Garrison Gold Property. In addition to the advanced stage Jonpol and Garrcon Gold Deposits, both of which have independent NI 43-101 compliant mineral resource estimates prepared by A.C.A. Howe International Limited (in Technical Reports posted on SEDAR October 21, 2009, November 5, 2010 and August 8, 2011). A Preliminary Economic Assessment is included in the Technical Report posted to SEDAR August 8, 2011. The property hosts several other gold mineralized showings including the less advanced 903 gold mineralized area. The Garrison Gold Property has historical mining infrastructure at both the Jonpol and Garrcon Deposits, and currently producing mines are located near the property.
The technical aspects of this press release have been reviewed and approved by Michael Gross M.S., P. Geo., and Vice-President Exploration for Northern Gold, who is the „Qualified Person“ as defined by NI 43-101 for this project.
CAUTIONARY STATEMENT: This News Release includes certain „forward-looking statements.“ These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management-s expectations. Forward-looking statements include estimates and statements that describe the Company-s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as „believes“, „anticipates“, „expects“, „estimates“, „may“, „could“, „would“, „will“, or „plan“. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company-s mineral properties, and the Company-s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company-s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company-s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Northern Gold Mining Inc. Martha Digby 416.366.7300 or Cell: 416.455.7670 416.366.7301 (FAX)
