Vancouver, British Columbia--(Newsfile Corp. - December 4, 2017) - Northern Empire Resources Corp. (TSXV: NM) (the "Company" or "Northern Empire") today announced results from seven holes drilled at the Sterling Gold Mine, located at Northern Empire's 116 square kilometre Sterling Gold Property in Nye County Nevada.
Michael G. Allen, President, CEO and Director stated: "These results highlighted the shallow, high-grade oxide resources of the Sterling Mine. Several holes from this recent program hit significant mineralization at the edges of the resource model, indicating the deposit remains open for expansion. We consider the results to date excellent, and they will inform our follow up exploration in 2018."
|Hole#||From (m)||To (m)||Interval (m)||g/t Au*|
|STR17-009C||No significant assay|
|STR17-040||Hole Deviated from Intended Target|
Hole numbers ending in "C" are core
True thickness estimated to be between 85% and 95% of reported
* Cyanide Soluble grade reported
The objective of initial drilling at the Sterling Property was resource confirmation and testing areas not previously exploited by underground mining. Additional assays are pending at the past producing Sterling Gold Mine (referred to as the 'Sterling Pit' in the resource estimate).
Sterling Property Highlights
High Grade Gold in Nevada. Total inferred resources on the Sterling Property were estimated at 709,000 oz Au with an average grade of 2.23 g/t Au.
|Sterling Property Inferred Resource Summary Effective March 29, 2017|
|Deposit||Cutoff (g/t Au)||Tonnes||g/t Au||In Place Au Oz|
|Sterling Pit Constrained*||1.0||1,958,000||3.67||231,000|
|Sterling Non-Pit Constrained*||1.7||350,000||3.38||38,000|
|Daisy Pit Constrained||1.0||2,556,000||2.12||174,000|
|Secret Pass Pit Constrained||1.0||3,534,000||1.65||188,000|
|SNA Pit Constrained||1.0||1,510,000||1.61||78,000|
* Resource calculated based on CN soluble assays.
- CIM definitions are followed for classification of Mineral Resource.
- Mineral Resource surface pit extent has been estimated using a gold price of US$1,200 per ounce and a US$2.10 per ton mining cost with gold recovery ranging from 80 — 88% depending upon rock type.
- Sterling non-pit constrained resources below the surface pit and targeted for underground mining are based on a gold price of US$1,200 per ounce and mining costs of $US45 per ton. Other modifying factors remain unchanged.
- Gold recovery estimated to range from 80 — 88% depending upon rock type.
- The Mineral Resource estimate has been prepared by Derek Loveday, P. Geo. of Norwest Corporation in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and are reported in accordance with the Canadian Securities Administrators NI43-101. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
District Scale Exploration in the Walker Lane Trend. 116km2 land package features five past producing open pit gold mines, and two underground gold mines open for expansion.
Permitted to begin operations at Sterling Gold Mine. The Bureau of Land Management has issued a Finding of No Significant Impact ("FONSI") and approved the next phase of mining at the Sterling Mine. This permit was issued on May 12, 2016, is transferable, and has an indefinite term.
Location. The Sterling Property is located approximately 185km NW of Las Vegas on the eastern flank of the Bare Mountains, within the Walker Lane Trend.
For further information on the Sterling Property please visit the Company's website, or refer to the technical report on the Sterling Property filed on June 18, 2017.
About Northern Empire
Northern Empire is an aggressive gold explorer working to take advantage of the current improving market conditions by assembling a value driven portfolio of properties. The portfolio is anchored by the Sterling Gold Property. The Sterling Property land package totals 116km2 and hosts existing infrastructure and an inferred 709,000 oz Au resource with a 1.0g/t cut off. Located near numerous past producers, most notably the Bullfrog Mine (2.3Moz Au produced). Northern Empire's Sterling land package has significant exploration upside with little to no modern exploration having been completed.
Michael G. Allen, P. Geo., President of Northern Empire, and a Qualified Person as defined by NI 43-101, has reviewed the technical information contained in this news release. He is the non-independent qualified person for this news release and has verified the data.
ON BEHALF OF THE BOARD OF NORTHERN EMPIRE RESOURCES CORP.
"Michael G. Allen"
President, CEO and Director
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 NEWS RELEASE.
Certain information set forth in this news release contains "forward-looking statement", and "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company's expectations about the completion of the proposed private placement future performance based on current results and expected cash costs and are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "will", "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which, may cause the Company's actual performance and financial results in future periods to differ materially from any projects of future performance or results expressed or implied by such forward-looking statement. These risks and uncertainties include, but are not limited to: ability to raise sufficient funds for the acquisition; liabilities inherent in mine development and production; geological risks, the financial markets generally, the results of the due diligence investigations to be conducted by the Company, the ability of the Company to complete the Private Placement or obtain requisite TSX Venture Exchange acceptance. There can be no assurance that forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipate in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information contact:
Michael G. Allen, President, CEO and Director
Tel: 604 646 4524
Jeff Sundar, Director
Tel: 604 646 8356