Northern Star Announces Further Drill Results From Malartic-Midway Project
27 Outubro 2009 - 10:41AM
Marketwired
Northern Star Mining Corp. (TSX VENTURE: NSM)(OTCQX: NSMSF)
(Northern Star Mining or the "Company") is pleased to announce
further drill results from its surface and underground exploration
and development programs.
Malartic-Midway Project
Underground drilling on the Malartic-Midway gold project (16km
west of Val-d'Or - Quebec, immediately adjacent to the Osisko gold
project) resulted in the following results:
Core
From To length Grade
HOLE # (m) (m) (m) (g/t Au) Rock Type
44 Drift wall
0 8 8 6.92 Gabbro
69 Drift floor
30.7 32.9 2.2 8.35 Gabbro
Underground development of the Briar bulk sampling program is
continuing while blasting (mining) of the Chabela bulk sample is
underway.
Gold mineralization has been encountered in the main Briar
haulage decline, following which the Company decided to drift into
the porphyry for exploration and if warranted bulk sampling
purposes.
During advancement of this exploration drift, a previously
unknown gold mineralized gabbro was discovered.
Grab and muck samples along the face and from the muck haulage
trucks returned an average cut grade of 14.8g/t over a true
horizontal width of 4.5 meters. The Company has now advanced this
drift over 40 meters in mineralized porphyry and gabbro.
A blast test hole (3.7 meters in length) in the gabbro ahead of
drifting returned an average cut grade of 9.68g/t.
Drifting into the underground discoveries at the L and K zones
(previously announced) is underway and the Company has contracted
an immediate 4,000 meter underground drill program for these and
other underground drill sites.
Beacon Mill
The Company is now set to begin milling operations at its wholly
owned Beacon mill for the processing of its Malartic-Midway bulk
samples in mid November.
McKenzie Break
At the McKenzie Break gold project (60-40 joint venture with
Britannica Resources Corp.) the Authorization permits have been
received from the Quebec government allowing underground work to
proceed.
Site installation and capital equipment purchases are well
underway, and the initial blasting and excavation work for the
decline Portal (entrance) has begun.
Callahan Project
Surface diamond drilling on the Callahan gold project, located
north of the Malartic-Midway project has also begun.
Michel David, president, states, "The Company has now entered
into an acceleration exploration development phase. Underground
bulk sampling at the Chabela, Briar and the newly discovered gabbro
zone at Malartic-Midway is underway along with exploration diamond
drilling and drifting. Underground exploration and development has
begun at the McKenzie Break project, and finally surface diamond
drilling has begun at the Callahan project. This increase in
activity portends well for the Company's future."
Northern Star Mining Joins OTCQX
The Company is also pleased to announce that it is now trading
on OTCQX® under the symbol: OTCQX: NSMSF
Northern Star Mining Corp. begins trading today on the OTC
market's elite tier, OTCQX International. Investors can find
current financial disclosure and real-time Level 2 quotes for the
company on www.otcqx.com and www.pinksheets.com.
"OTCQX provides Northern Star Mining with a visible market tier
to increase U.S. investor awareness, and distinguish themselves
from the thousands of other companies traded over-the-counter,"
said R. Cromwell Coulson, President and CEO of Pink OTC Markets.
"We are pleased to welcome Northern Star Mining to OTCQX."
Berns & Berns, will serve as Northern Star Mining's
Principal American Liaison ("PAL") on OTCQX, responsible for
providing guidance on listing requirements.
Eugene Gauthier, Ing (OIQ), acts as the qualified person of the
Company and has reviewed the contents of the news release. The
diamond drilling and exploration programs are being carried out
under the direct supervision of Eugene Gauthier, Ing (OIQ). The
Company is maintaining strict standards for QA (quality assurance)
and QC (quality control); by keeping under lock all drill cores,
rejects and pulps for further testing. Samples were sent to ALS
Chemex and Techni-Lab labs in Val d'Or, Quebec. High grade assays
intersections were subject to total gold metallic sieve method in
addition to the standard fire assay and AA finish.
ON BEHALF OF THE BOARD
Jonathan Awde, Vice-president, Corporate Finance
This press release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Security
Exchange Act of 1934, and involves a number of risks and
uncertainties. Important factors that could cause actual results to
differ materially from the Company's expectations are disclosed in
the Company's documents filed from time to time with the TSX
Venture Exchange and the British Columbia Securities Commission.
All statements, other than of historical fact, included herein are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Neither the 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 Star Mining Corporation Jonathan Awde
Vice-president, Corporate Finance Toll Free: (800) 460-5031 or
(819) 825-8088 (819) 825-1199 (FAX) www.nsmgold.com
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