Northern Vertex Mining Corp. (TSX.V:NEE) (OTC Nasdaq Intl:NHVCF) announced the results of a Preliminary Economic Assessment of the technical and economic viability of expanding the Moss mine to include resources that could be accessed by a future expansion of operations onto the Companyâ€™s adjacent un-patented mining claims. This scenario includes surface disturbance and an expansion of the mine facilities onto Federal public lands administered by the Bureau of Land Management and would therefore require the submission to, and approval by, the BLM of the necessary Federal and environmental permits.
Kenneth Berry, President and CEO, stated: â€œOur team continues to execute its development plan to launch the next producing gold mine in the USA. Construction of the Companyâ€™s Phase II operations is well advanced and production is anticipated later in Q4 2017. This PEA is further encouragement of both the exceptionally strong initial years as well as the potential longevity of the Moss Gold Mine. Eliminating the patented boundary constraints and increasing production to a peak of 60,000 gold equivalent ounces in year four, the PEA indicates the Moss mine project has the potential to measurably improve the economics stated in the Companyâ€™s Phase II Feasibility Study published in June, 2015. The backbone of our PEA is our strong resource, only 10% of the gold equivalent ounces in the PEA are currently defined as Inferred resources. To further expand our existing resources, management intends to conduct an aggressive exploration and resource expansion program during the first two years of Phase II production. This district wide exploration program will be initiated within six weeks and is expected to further enhance the size and scope of the Moss Mine Project.
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