| ||Wed Apr 25, 2012|
Northern Lion Samples 41 Metres Averaging 3.47 g/t Gold in Recently Granted Mineral Permits, Republic of Cyprus
| ||Vancouver, British Columbia: Northern Lion Gold Corp. (the "Company" or "Northern Lion") announces the approval for four additional mineral permits in the Republic of Cyprus, which increases the Company's current tenure holdings to 24 permits with a total area greater than 80 square kilometres. Two of the new permits are held outright by Northern Lion, while the other two are under an option agreement between the Company and SES Sweden AB. Initial work on the Pano Lefkara and the Kato Lefkara permits has revealed surface gold mineralization, and a follow up drill program is planned. |
Pano Lefkara Permit - 100% Owned
Rock chip sample lines at Pano Lefkara across a 100 metre by 40 metre breccia zone have returned intervals of 41 metres averaging 3.47 grams per tonne ("g/t") gold, 25 metres averaging 1.1 g/t gold, and 24.5 metres averaging 1.06 g/t gold. The breccia zone consists of silicified argillically altered fragments in a variably limonite-kaolinite-hematite altered matrix. Historical drilling of the breccia zone intersected 30 metres of 0.42% copper and 0.91% zinc from within a wider zone of strong clay-pyrite alteration. Gold assays are not available from the earlier work. A large slag heap near the breccia zone attests to ancient mining in the vicinity. Work by Northern Lion 450 metres south of the breccia zone has revealed a substantial gold geochemical anomaly and rock grab samples returned values up to 6.76 g/t gold.
Kato Lefkara Permit - 100% Owned
There are two historical zones of mineralization known at Kato Lefkara permit; Papoutsi and Touroundja. Northern Lion has obtained several rock grab samples with values greater than 1.0 g/t gold from each zone. Both zones consist of strong limonite/kaolinite gossans which are variably exposed beneath younger sedimentary cover, and talus. The gossan at Touroundja is exposed over a 275 metre by 175 metre area. Rock chip sampling across the gossan returned a 31.5 metre sample averaging 3.08 g/t gold. Another nearby outcrop returned a 6 metre rock chip sample averaging 6.38 g/t gold. The gossan appears to overlie a zone of strongly silicified argillically altered rocks. Historical drilling has reportedly intersected sulphides below the gossan and historical ground geophysical surveys have identified strong electromagnetic conductors associated with the gossan and at other locations under the sedimentary cover. Gold assays are not available from the historic work.
Filousa Permit - Optioned
The Filousa permit is located within the western portion of the recently completed airborne geophysical survey. Northern Lion is waiting on a final report and interpretation of an airborne geophysical survey which was flown over two areas of the Company's permits in western Cyprus in early December 2011. The survey was flown by Geotech Airborne Malta, Limited and consisted of a Versatile Time-Domain Electromagnetic ("VTEM") and aeromagnetic geophysical survey. The Filousa permit is underlain by prospective geology and hosts a number of preliminary targets generated by that survey. The final results of the survey are expected within the coming weeks.
Perapedi Permit - Optioned
The Perapedi permit located to the east of the St. Nikolas permit has also been approved. This permit covers the continuation of the trend of prospective geology which hosts the gold mineralization at St. Nikolas, where in 2011 the Company encountered significant drill intercepts including 4.5 g/t gold, 19.08 g/t silver, and 1.04% copper over 28.6 metres in hole 11SN02 (reported April 6, 2011).
The Company's field activities in Cyprus are under the direction of Robert Johnston, P.Geo. (BC), consultant to the Company and "qualified person", as defined by National Instrument 43-101. Mr. Johnston is responsible for the technical content of this news release.
The Company also announces it does not plan to pursue its interest in the Moura license, located in southern Portugal.
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.
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 firstname.lastname@example.org 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 May 1, 2012, Northern Lion Appoints Chief Operating Officer
You can view the Previous News Releases item: Tue Feb 7, 2012, Northern Lion Receives Airborne Data / Target Modelling Underway
You can return to the main News Releases page, or press the Back button on your browser.