Northern Lion Gold Corp.: 5,000m of Rotary Prospect Drilling-Airborne EM Survey Awaiting Permit, Republic of Cyprus
14 Julho 2011 - 3:47PM
Marketwired Canada
Northern Lion Gold Corp. (the "Company" or "Northern Lion") (TSX
VENTURE:NL)(FRANKFURT:N3E) wishes to announce the exploration plans to the end
of 2011. The program includes over 1,000 line kilometers of a time-domain
electromagnetic system (VTEM) airborne geophysical survey and 5,000 meters of
rotary drilling, as well as continuing with the ongoing mapping, prospecting,
soil and rock sampling.
The airborne survey is awaiting final approval of the proposed flight path and
area to be surveyed from the government department of Civil Aviation. The survey
will commence within 3 weeks of the receipt of the permit. It will encompass all
of the Company's western permits and the favourable stratigraphic horizons
within the southwestern portion of the Troodos complex.
Based on a compilation of the previously completed drilling and the results of
the ongoing surface exploration the Company believes that the Anglesides - St.
Nik style of mineralization, which is significantly enriched in precious metals,
represents a late or waning stage of the hydrothermal system that operated
throughout the period of volcanism in Cyprus. The correlation of these two high
grade showings with the volcanic - sedimentary contact provides a new target for
further exploration on the island.
Northern Lion continues to collect rock and soil samples over known gossan zones
and this work has been expanded to include those areas believed to have
potential for the St. Nik style mineralization. This work has already identified
a new St. Nik style showing which has been covered by the Company's latest
permit application. These ground based geochemical surveys in conjunction with
the airborne geophysical survey are expected to generate additional drill
prospect targets for the rotary program. The rotary drill is a quick and
extremely cost efficient prospecting tool which will aid in outlining the
lateral extent and the level of mineralization of buried targets. Rotary holes
are initially planned to test additional targets in the Anglesides area, and to
evaluate the potential extensions of the St. Nik mineralization beneath the
sedimentary cover.
The results from the 2011 diamond drill program on the Pitha, Anglesides and
Asproyia projects, are discussed below. The overall drill program totaled
2,863.2m in 32 holes which tested 5 separate targets as shown in the following
table.
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Holes
Project Drilled Meters Drilled
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Pitha 7 938.6
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Anglesides 6 384.6
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St. Nik 7 541.1
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Asproyia 7 576.8
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Evoloimeni 5 422.1
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Results of the St. Nik and Evoloimeni drilling were previously released April 6,
2011 and June 29, 2011 and returned 4.5 g/t gold over 28.6 meters and 1.3 g/t
gold over 24.3 meters respectively.
Pitha Project
At the Pitha project, the drill program was designed to follow-up on the 2010
results and test geochemical and geophysical Induced Polarization (IP) targets.
A single hole (11PT03) was drilled within the pre-existing cut to test for a
possible extension of the massive sulphide zone encountered in a hole drilled in
2010 (10PT02), which returned 4.9 meters of 5.1% copper and 0.2 g/t gold within
a larger interval of 38.9 meters of 0.8% copper and 0.2 g/t gold (see news
release September 29, 2010). Narrow intercepts of massive pyrite were
encountered with minor copper and zinc values. Holes 11PT04, 05 and 06 tested IP
targets with coincident geochemical anomalies in the southern portion of the
property. In 11PT04 a 33.8m zone contained anomalous gold and silver
mineralization starting near surface and correlates with surface rock samples
containing up to 2g/t gold. Sporadic gold values were intersected along with
stringer type copper mineralization in holes 11PT05 and 06. These intercepts
occur within the Basal Group rocks.
Hole 11PT07 tested a strong IP chargeability anomaly in Lower Pillow Lavas
associated with a weak soil anomaly 400m north of the cut area. Abundant
disseminated to stringer type pyrite mineralization was encountered with minor
gold, copper and zinc values. Holes 11PT08 and 09 targeted a combined IP
chargeability and zinc-gold soil geochemical anomaly within the Upper Pillow
Lava series. Strongly altered pillow lavas were encountered in 11PT08 with
weakly anomalous gold values. Drill hole 11PT09 intersected a major northerly
trending structure carrying anomalous values in gold, silver copper and zinc
over a width of 29.9m. Within this large structure a narrower zone of 9.6m
contained elevated gold, silver and zinc values that correlate with a zone of
surface gossans.
Pitha - Significant assay drill results:
---------------------------------------------------------------------------
From To Interval Au Ag Cu Zn
Hole # (m) (m) (m) g/t g/t % %
---------------------------------------------------------------------------
11PT03 6.6 86.6 80.0 0.15 1.1 0.1 0.11
---------------------------------------------------------------------------
incl 6.6 40.6 34.0 0.19 1.0 0.21 0.22
---------------------------------------------------------------------------
incl 6.6 26.5 19.9 0.16 0.96 0.24 0.34
---------------------------------------------------------------------------
11PT04 22 55.8 33.8 0.24 1.48 0.23 0.17
---------------------------------------------------------------------------
11PT09 37 66.9 29.9 0.28 3.9 0.08 0.5
---------------------------------------------------------------------------
incl 37 46.6 9.6 0.74 9.2 0.02 1.1
---------------------------------------------------------------------------
Angelsides Project
At Anglesides a series of 6 holes were desigined to test several target types;
the area immediately surrounding the surface rock sampling, a strong IP
resistivity anomaly located southwest of the surface sampling, and a weak IP
chargeability high to the east. Anomalous gold values up to 2.36g/t over 0.5m
was intersected in holes 11AN01 to 03, however the high grade values from the
surface rock sampling was not repeated. Two samples in hole 11AN03 returned very
high silver grades of up to 585g/t over 1.8m. It is hypothesized that the gulley
tested by the surface sampling may represent an ancient open pit mined by the
Romans. The material sampled by the Northern Lion field crew, including 10
meters of 6.6 g/t gold, (News Release September 15, 2010) is now thought to be
the material that was left behind on the walls of the excavation, after Romans
had removed the high grade massive sulphides.
The grade and location of the mineralization within the stratigriaphic section
at Anglesides is similar to the mineralization found at St. Nikolas. In both
locations there are unweathered and silicified massive sulphides at or close to
the contact with the overlying sedimentary sequence. Follow-up work at
Anglesides will focus on testing this Upper Pillow Lavas - Sediment contact
zone.
Angelsides - Significant assay drill results:
---------------------------------------------------------------------------
From To Interval Au Ag Cu Zn
Hole # (m) (m) (m) g/t g/t % %
---------------------------------------------------------------------------
11AN01 0 8.1 8.1 0.4 3.0 0.36 0.26
---------------------------------------------------------------------------
incl 2.6 9.8 7.2 0.39 3.0 0.47 0.19
---------------------------------------------------------------------------
11AN02 0 33.8 33.8 0.37 2.3 0.33 0.16
---------------------------------------------------------------------------
incl 0 12.6 12.6 0.5 3.7 0.55 0.34
---------------------------------------------------------------------------
11AN03 2.5 33.4 30.9 0.34 37.0 0.35 0.02
---------------------------------------------------------------------------
incl 2.5 20.1 17.6 0.49 65.1 0.47 0.03
---------------------------------------------------------------------------
incl 4.4 6.8 2.4 0.54 448.0 0.61 0.03
---------------------------------------------------------------------------
Asproyia Project
The Asproyia property was tested by 7 holes targeting a combination of
geochemical and IP geophysical targets. The majority of the Asproyia grid area
is underlain by Basal Group rocks and the style of mineralization encountered in
the drilling reflects this environment. Chalcopyrite filled fractures and
stringers up to 1cm wide were intersected in all holes. Drill hole 11AS02
returned 0.57% copper over a 49.7m interval. This mineralization is believed to
represent a feeder system to a mineralized zone higher in the stratigraphic
section and has subsequently been removed by erosion.
Asproyia - Significant assay drill results:
---------------------------------------------------------------------------
From To Interval Au Ag Cu Zn
Hole # (m) (m) (m) g/t g/t % %
---------------------------------------------------------------------------
11AS01 3 38.8 35.8 0.03 0.1 0.4 0.02
---------------------------------------------------------------------------
11AS02 4.5 80.1 75.6 0.02 1 0.42 0.01
---------------------------------------------------------------------------
incl 24.6 74.3 49.7 0.02 1 0.57 0.01
---------------------------------------------------------------------------
11AS05 20.2 22.5 2.3 0.02 0.3 1.27 0.01
---------------------------------------------------------------------------
11AS07 48.9 100 51.1 0.01 0.1 0.37 0.01
---------------------------------------------------------------------------
History
The history of mineral exploitation (copper, gold and other metals) on the
island of Cyprus dates back to the Bronze Age, approximately 5,000 years ago.
The Phoenicians were the first to process copper on the island, followed by the
Romans and this activity has continued to the present day. The evidence of this
long history of mining is readily observed in the abundant ancient surface and
underground workings along with extensive slag heaps. Mineral exploration in the
Republic of Cyprus has been at a very low level over the last few decades, and
management believes that there is a high probability of additional massive
sulphide bodies being present that did not outcrop, as nearly all of the known
deposits did.
The metal deposits of Cyprus are dominantly copper-bearing volcanogenic hosted
massive sulphide "VHMS" deposits. These deposits are hosted within the pillow
lava sequence of the Troodos Ophiolite Complex.
Quality Control and Assurance
The Company's field activities in Cyprus are under the direction of Jim Chapman,
P.Geo. (BC), consultant to the Company and "qualified person", as defined by
National Instrument 43-101, who is responsible for the technical content of this
news release.
About Northern Lion
Northern Lion Gold Corp. is a Canadian mineral exploration company, listed on
the TSX Venture Exchange and the Frankfurt Exchange. The Company is committed to
building a strong portfolio of projects within mining-friendly and
infrastructure-rich areas of Europe.
In addition to its exploration permits in Cyprus, the Company holds a 100%
interest in its Moura Licence in Portugal and a 100% interest in one project in
the historic Bergslagen mining district of southern Sweden.
NORTHERN LION GOLD CORP.
John Lando, President
This news release includes "forward-looking information", as such term is
defined in applicable securities laws. The forward-looking information includes,
without limitation, the success of exploration activities and other similar
statements concerning anticipated future events, conditions or results that are
not historical facts. These statements reflect management's current estimates,
beliefs, intentions and expectations; they are not guarantees of future
performance. The Company cautions that all forward-looking information is
inherently uncertain and that actual performance may be affected by a number of
material factors, many of which are beyond the Company's control. Such factors
include, among others, risks and uncertainties relating to exploration and
development; the ability of the Company to obtain additional financing; the
Company's limited operating history; the need to comply with environmental and
governmental regulations; potential defects in title to the Company's
properties; fluctuations in currency exchange rates; fluctuating prices of
commodities; operating hazards and risks; competition; and other risks and
uncertainties. Accordingly, actual future events, conditions and results may
differ materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. All statements are made
as of the date of this news release and, except as required by law, the Company
is under no obligation to update or alter any forward-looking information.
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