| ||Wed Dec 7, 2011|
Northern Lion Launches Airborne Geophysical Survey over Underexplored Western Permits, Republic of Cyprus
| ||Vancouver, British Columbia: Northern Lion Gold Corp. (the "Company" or "Northern Lion") wishes to announce the commencement of the airborne geophysical survey covering the Company's western permits in the Republic of Cyprus. The Company has contracted Geotech Airborne Malta, Limited ("Geotech") to carry out a helicopter-borne Versatile Time-Domain Electromagnetic ("VTEM") geophysical survey at 100 metre line spacing for a total of 850 line kilometres and will cover 80 square kilometres. |
The western permits airborne geophysical survey will encompass a strike length of 18 kilometres of favourable geology on the westside of the Troodos Ophiolite Complex. The Limini mine at the north end of the belt is a past producer and was one of the country's largest volcanogenic massive sulphide bodies.
John Lando, President and CEO states "The commencement of the airborne geophysical survey represents a key catalyst because no company has ever flown an airborne of this calibre over the western permits." The vast majority of the known deposits within Cyprus were exposed at surface and are hosted by the Upper and Lower Pillow Lava series. It is believed that additional deposits exist along the underexplored western portion of the complex. These would have no surface expression but may be amenable to modern airborne geophysical detection, which has never been attempted in this region.
The Geotech B-field VTEM Time Domain EM System is an industry leader in the field of airborne EM surveys and provides excellent depth penetration and spatial resolution of anomalies. Further processing of the data will be undertaken by an independent consulting firm specializing in airborne data.
During the 2010 and 2011 surface exploration programs the Company has carried out widespread reconnaissance soil sampling along with prospecting and mapping of the western permits. It is believed that in conjunction with the regional soil geochemical surveys, mapping programs, prospecting and rock sampling that the airborne survey will develop additional drill targets.
Separately, The Company has delivered notice to Michael Poullaides of its intention to terminate its option agreement on the Philani project.
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.
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 the Company's exploration permits in the Republic of Cyprus, the Company holds a 100% interest in its Moura Licence in Portugal
NORTHERN LION GOLD CORP.
John Lando, President
For information with respect to Northern Lion or the contents of this news release, please contact John Lando or Ian Mitchell at (604) 669-2701, toll free at 1-800-663-0510, or email to email@example.com or visit the web site at www.northernliongold.com.
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.
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
You can view the Next News Releases item: Tue Feb 7, 2012, Northern Lion Receives Airborne Data / Target Modelling Underway
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