Initial Cyprus Drill Program Complete
Ten diamond drill holes totaling 1,500 meters were completed on the 4 targets. Two holes testing the Pitha target, 2 on Philani, 5 at Red Hill and 1 on Red Rocks.
Drilling Program
The drilling program targeted the downdip extension of mineralized zones exposed at surface and/or tested historical rotary drilling with limited assays. These drill targets were derived and defined from both the Companys' current surface exploration program and information gathered from the historical data.
Pitha Drill Target
The Pitha project forms part of the Kambia Exploration Permits, which incorporate the Pitha and Peristerka massive sulphide bodies. Peristerka which consisted of two adjacent vertical massive sulphide bodies, was mined in the 1970's for pyrite, but also contained a high grade copper and zinc portion in the western ore body. The Peristerka ore bodies contained 1.12 million tones at an average of 0.8% copper, and an unknown gold grade.
At Pitha (1km to the west) the area was partially pre-striped and now appears as an opencut. This excavation was in preparation for production when the Turkish invasion of 1974 halted activities. The company operating Peristerka went bankrupt when their ore stockpile sitting at the port of Famagusta was seized during the invasion. Historical drill data indicates a vertically oriented massive sulphide body in excess of 500,000 tons. No gold assays were carried out during the period when the massive sulphide was drilled.
The two holes that Northern Lion have recently completed at the Pitha opencut were designed to test at depth the previously released rock chip sampling results (May 13, 2010) The majority of the gold and copper surface values are located at the western end of the existing cut. In addition one of the historical holes in this area assayed 0.75% copper over 40m. Hole 10PT01 was oriented to intersect this vertical hole at a depth of 65m and to continue through the postulated down dip extension of the surface sampling. The second hole 10PT02 was collared 35m southwest of 10PT01 and designed to intersect the same zone closer to surface and also a second zone located approximately 30m further west. The two zones are approximately 25 and 30m wide, and 20m apart. Surface samples collected by Northern Lion within the open cut returned assays of up to 4.67g/t gold and 3.91% copper. Two zones of strong to intense argillic alteration with stringers of sulphide mineralization were intersected in these holes which correlate well with the surface mineralization. In the second hole a 6m zone of massive to semi massive sulphide was intersected.
The soil grid which was established to the north of the opencut returned coincident gold and copper anomalies along the western edge of the grid, in line with the mineralization exposed at the western edge of the cut. All of the major structures in this area trend northerly. This also correlates with the Mandres prospect 0.75km to the south of the Pitha cut. Surface sampling by Northern Lion crews has returned anomalous gold values of up to 2.5g/t over 2m in gossanous outcrops at Mandres.
Philani Target
On the Philani property two holes were drilled to test the known body of massive sulphide mineralization and to evaluate the stringer zones that appear to be associated with this body. The known mineralization is a small body of high grade copper, zinc and gold ore (as reported previously - 6.4 % Cu, 11.6 % Zn and 1.4g/t Au over 6 Metres). A northwesterly trending zone of surface gossans is visible immediately to the west of the massive sulphide, which has returned up to 4.4g/t gold from surface samples. Hole 10FL01 was drilled to the southeast and intersected the massive sulphides at 13m, followed by a 2m cavity of ancient workings.
Drill hole 10FL02 was drilled to the west and also intersected the massive sulphide body followed by a 2m cavity resulting from the ancient workings. A stringer zone was encountered downhole of the massive sulphide and continued to the end of hole of 150m with intermittent post mineralization dykes crosscutting this zone. As in 10FL01 the stringer mineralization follows the selvages of the pillow lavas.
Red Hill Target
During the 1930's the gold workings at Red Hill focused on a substantial gossan covering the peak of a small hill. Northern Lion's data compilation program has located geological mapping, geophysical survey data and historical drill logs from both the Geological Survey and the Hellenic Mining Company. In the 1950's Hellenic Mining rotary drilled 5 holes within the Red Hill workings covering a 125m strike length and analyzed for gold, all of which assayed over 1 gram per tonne ("g/t") for the entire hole to a maximum depth of 50m below surface. No other holes drilled in the area by Hellenic Mining Company or the Geological Survey were analyzed for gold.
Northern Lion drilled a total 5 holes at Red Hill within the historical gold zone exposed at the top of the hill and a copper zone along the southern edge of the gossan. A vertical hole in the center of the gold anomaly was designed to determine the distribution of gold within the extensive gossan exposed at the top of the hill. All of the historical holes were less than 50m deep so Northern Lion's first hole was drilled to 135m to determine the actual depth of the gold mineralization. Northern Lion's holes 10RH02 and 05 were angled holes to provide a cross section of the mineralized zone which is believed to be subvertical.
The copper zone along the southern edge of the Red Hill gossan was tested by holes 10RH03 and 04 as the historical drilling was not assayed for gold, and there appears to be a correlation between copper and gold mineralization in this area.
Red Rocks Target
During the 1050's Hellenic Mining identified and mined a massive pyrite body (Kambia Mine) approximately 500m to the northwest of Red Hill. This became their main focus of attention and ultimately produced 330,000 tons of pyrite. It contained a copper rich zone along the northwest edge of the main body of pyrite, which appears to be controlled by a major northwest trending structure. This structure continues on to the northwest to the Company's Red Rocks target, where an historical hole encountered 40 m of 1% copper within a stringer zone and was not analyzed for gold.
Northern Lion drilled one hole at Red Rocks to verify the historical copper results and to test for any associated gold values.
About Cyprus
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. The pillow lava sequence is divided into Upper and Lower Pillow Lavas, with the majority of massive sulphide bodies located along the contact between pillow lava sequences, and the remainder between the Lower Pillow Lavas and the Basal Group. All of the Company's applications overlie these important contacts. Gold mineralization associated with the massive sulphide ores has not historically been evaluated.
Quality Control and Assurance
The Company's field activities in Cyprus are under the direction of Jim Chapman, P.Geo. (BC), consultant to the Company and "qualified person", as defined by NI 43-101, who is responsible for the technical content of this news release.
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. The Company is well funded to continue to define and explore its existing projects and to acquire and explore new projects.
In addition to its exploration permits in Cyprus and 100% interest in its Moura Licence in Portugal, the Company holds a 100% interest in several projects in the historic Bergslagen mining district of southern Sweden.
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 Don Flahiff at (604) 669-2701, toll free at 1 800 663 0510, or email to info@northernliongold.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
Northern Lion Engages Investor Relations Consultant
Pursuant to the Agreement, SIGOREX will provide investor relations services to the Company including, but not limited to, representing the Company at trade shows and introducing the Company to investors in Europe.
SIGOREX's engagement, which is subject to regulatory approval, was effective June 21, 2010, for a term of six (6) months. The Company will pay SIGOREX 7,500€ for a one time set up fee, a fee of 5,000€ per month, reimburse it for approved expenses, and issue it options to purchase 100,000 common shares, exercisable for two years at a price of $0.20 per share. These options will vest in accordance with the Company's April 28, 2003 Stock Option Plan, as amended.
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.
The Company holds several exploration permits in Cyprus, a 100% interest in its Moura Licence in Portugal and 100% interest in two projects in the historic Bergslagen mining district of southern Sweden.
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 Don Flahiff at (604) 669-2701, toll free at 1 800 663 0510, or email to info@northernliongold.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
Diamond Drill Program Commences in the Republic of Cyprus
Hy-Tech Drilling Ltd. has shipped a Tech 5000 rig to the island and drilling commenced on June 5, 2010. Drill targets have been selected on the Red Hill, Red Rock, Pitha and Philani projects based on the Companys' grid based mapping, soil and rock sampling programs in conjunction with historical data.
Red Hill Project
At Red Hill a series of drill holes from the 1950's and 60's were completed to test the gold and base metal potential of the old gold workings. The property was mined for gold during the pre WWII period, when high grade gold was recovered from two open cuts at the top of the hill. No production records are available; however chip sampling by Northern Lion crews has returned highly significant gold and silver values from the walls of the excavations as shown in the following table. Of the 44 chip and grab samples for which complete assays have been received, 18 assayed over 0.5 grams per tonne ("g/t") Au. An additional 38 samples are in process.
| SAMPLE Number |
Width metres |
Au ppm |
Ag ppm |
Cu ppm |
Pb ppm |
Zn ppm |
|---|---|---|---|---|---|---|
| 11651 | 4 | 4.41 | 28.1 | 31 | 358 | 43 |
| 11652 | grab | 4.79 | 36.4 | 21 | 73 | 8 |
| 11653 | grab | 1.06 | 16.7 | 19 | 1010 | 5 |
| 11654 | 3.5 | 3.66 | 17.1 | 19 | 387 | 7 |
| 11655 | 3 | 2.53 | 51.1 | 8 | 58 | 3 |
| 11657 | 5 | 0.90 | 8.2 | 73 | 132 | 12 |
| 11658 | 5 | 0.88 | 6.7 | 47 | 126 | 9 |
| 11659 | grab | 1.49 | 9.8 | 113 | 47 | 14 |
| 11663 | 5 | 2.93 | 31.1 | 59 | 796 | 47 |
| 11664 | 5 | 2.76 | 19.5 | 161 | 1450 | 58 |
| 11667 | grab | 0.51 | 9.7 | 14 | 861 | 12 |
| 11690 | grab | 0.74 | 23.5 | 12 | 954 | 5 |
| 11758 | 0.2 | 1.55 | 9.6 | 26 | 41 | 11 |
| 11760 | 2 | 0.96 | 96.6 | 13 | 11 | 15 |
| 11761 | 2.2 | 2.85 | 17.6 | 43 | 410 | 15 |
| 11765 | 1.6 | 5.26 | 17.5 | 34 | 604 | 11 |
| 11766 | 0.3 | 6.64 | 19.1 | 23 | 154 | 13 |
| 11772 | 1.2 | 0.99 | <0.2 | 836 | 3 | 290 |
The Phase I drill program is designed to test the gold zone at Red Hill, to determine the depth, attitude, grade and the true width of the mineralized zone. Sampling of chips from five rotary holes in the 1950's indicated in excess of 1 g/t gold over 125 metres ("m") strike length north-south and 30m east-west, to a maximum depth of 50m. Soil sampling of the dump areas has returned values of up to 11.5 g/t gold.
Results of the grid soil sampling program show a strong correlation between gold, copper and silver values. The soil anomalies track a northerly trending structure which is visible in the open cuts, and sporadically through the covered areas to the north. This structure can be traced for an additional 1 kilometre ("km") to the north before it is covered by recent sediments. Mapping to date indicates that the stratigraphic section is down-dropped to the north, protecting the potential extension from erosion. Follow-up geophysical surveys are planned to test these deeper targets during the next phase of exploration.
Red Rock Project
At the Red Rock project, located over a kilometre to the northwest of Red Hill three historical drill holes encountered a massive sulphide body, one of which assayed 1% copper over 40m. The massive sulphides were fault bounded in all three holes. This sulphide body has not been fully delineated and gold was not analyzed. A hole is planned during this phase of drilling to test the gold content of these massive sulphides.
Pitha Project
The Pitha project forms part of the Kambia Exploration Permits, which incorporates the Pitha and Peristerka massive sulphide bodies. Peristerka which consisted of two adjacent vertical massive sulphide bodies, and was mined in the 1970's for pyrite, and contained 1.12 million tones at an average of 0.8% copper, with an unknown gold grade.
At Pitha (1km to the west of Peristerka) the area was partially pre-striped preparing for the extraction of pyrite when the Turkish invasion of 1974 halted activities. Historical drill data indicates a vertically oriented massive sulphide body in excess of 500,000 tons. No gold assays were carried out during the period when the massive sulphide was drilled, and no overall copper grade is available.
In order to determine the gold potential of this area a chip sampling program was carried out over the exposed benches, and any exposures of massive sulphide visible in the pit. The Pitha massive sulphide body is located in the Basal Group rocks within 200m of the contact with the overlying Pillow Lava Series. Dykes within the Basal Group in this area trend north northeasterly and have a near vertical dip, as do the major structural trends.
A total of 132 chip and grab samples were collected from all prospective exposures of altered and mineralized rocks, along with a suite of samples from fresh outcrop for reference material. The results of this work show an excellent clustering of gold and copper values at the west end of the pit, such as; 2.64 g/t gold and 62.1 g/t silver over 3.2 m and 4.67 g/t gold, 3.91% copper, 33.6 g/t silver. For full results see news release dated May 13, 2010. The anomalous gold and copper values cover an area of 75m by 60m, and remain open. Two drill holes are planned to test this gold -- copper enriched area.
Philani Project
There are two drill holes planned for this phase at Philani. The first target is a partially defined orebody of high grade copper and zinc massive sulphide mineralization with significant gold values (this resource predates National Instrument 43-101 ("NI 43-101") and was not prepared in accordance with its requirements). The second hole will test Northern Lion's previous surface sampling that returned over 4g/t gold from a gossan located peripheral to the massive sulphide body. The current mapping has shown the anomalous gossan to be one of a series located along a 3100 trend, none of which had been previously tested.
Research within the files of the Cyprus Geological Survey has uncovered historical drill data that indicates a hole located to the west of the massive sulphide body appears to intersect a feeder zone. This hole encountered 24m of 0.4% copper, but was not analysed for gold. It is also proximal to the 4g/t gold assay from the surface gossan.
About the Republic of Cyprus
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. The pillow lava sequence is divided into Upper and Lower Pillow Lavas, with the majority of massive sulphide bodies located along the contact between pillow lava sequences, and the remainder between the Lower Pillow Lavas and the Basal Group. All of the Company's applications overlie these important contacts. Gold mineralization associated with the massive sulphide ores has not historically been evaluated.
Quality Control and Assurance
The Company's field activities in Cyprus are under the direction of Jim Chapman, P.Geo. (BC), consultant to the Company and "qualified person", as defined by NI 43-101, who is responsible for the technical content of this news release.
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. The Company is well funded to continue to define and explore its existing projects and to acquire and explore new projects.
In addition to its exploration permits in Cyprus, the Company holds a 100% interest in its Moura Licence in Portugal and a 100% interest in two projects in the historic Bergslagen mining district of southern Sweden.
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 Don Flahiff at (604) 669-2701, toll free at 1 800 663 0510, or email to info@northernliongold.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.
Strong Gold - Copper Results at Pitha Project, Cyprus
The Republic of Cyprus
Initial results from the ongoing Phase I exploration programs in Cyprus are now being received for the Philani, Pitha and Red Hill projects. Grid based mapping, soil and rock sampling programs were initiated on each of these properties to build on the historical data available from the Cyprus Department of Geology
The Pitha project forms part of the Kambia Exploration Permits, which incorporate the Pitha and Peristerka massive sulphide bodies. Peristerka which consisted of two adjacent vertical massive sulphide bodies, was mined in the 1970's for pyrite, but also contained a high grade copper and zinc portion in the western orebody. The Peristerka orebodies contained 1.12 million tones at an average of 0.8% copper, and an unknown gold grade.
At Pitha (1km to the west) the area was partially pre-striped preparing for production when the Turkish invasion of 1974 halted activities. The company operating Peristerka went bankrupt when their ore stockpile sitting at the port of Famagusta was seized during the invasion. Historical drill data indicates a vertically oriented massive sulphide body in excess of 500,000 tons. No gold assays were carried out during the period when the massive sulphide was drilled.
In order to determine the gold potential of this area a chip sampling program was carried out over the exposed benches, and any exposures of massive sulphide visible in the pit. The Pitha massive sulphide body is located in the Basal Group rocks within 200m of the contact with the overlying Pillow Lava Series. Dykes within the Basal Group in this area trend north northeasterly and have a near vertical dip, as do the major structural trends.
A total of 132 chip and grab samples were collected from all prospective exposures of altered and mineralized rocks, along with a suite of samples from fresh outcrop for reference material. The results of this work show an excellent clustering of gold and copper values at the west end of the pit, with the highest values shown in the following table. Anomalous gold and copper values were returned from an area of 75m by 60m as shown on the Pitha sampling map that can be found at http://www.northernliongold.com/s/Cyprus.asp. Follow up sampling will concentrate on defining the western limits of this mineralization and exploring to the north and south along the local structural trend. To this end a grid has been established to the north of the pit with east-west lines covering the potential extension of this mineralization. Soil sampling has been completed over this grid and results are anticipated this month.
South of the Pitha pit (0.75km) another historical showing known as Mandres was partially evaluated at the same time as the Pitha stripping. Surface sampling by Northern Lion crews has shown anomalous gold values up to 2.5 grams per tonne ("g/t") over 2m in gossanous outcrops.
John Lando commented, "Our initial view was that the Cyprus VHMS deposits had been overlooked for their gold potential and we are very encouraged from the consistent initial gold and copper results we have received to date. These results indicate that there is a gold component to these deposits and we have developed a number of drill targets to test the geological model."
The following table contains a summary of the significant values returned from the chip samples collected. The results of that work clearly illustrate the potential of the Cyprus type massive sulphide bodies to host significant gold mineralization along with high grade copper, zinc and silver.
Sample |
Length |
Au g/t |
Ag g/t |
Cu % |
Pb ppm |
Zn ppm |
11904 |
0.4 |
0.336 |
15.8 |
1.615 |
86 |
279 |
11917 |
grab |
1.03 |
7.6 |
2.88 |
158 |
512 |
11919 |
0.25 |
4.67 |
33.6 |
3.91 |
847 |
3940 |
11920 |
grab |
0.452 |
5.9 |
0.68 |
112 |
706 |
11921 |
0.2 |
3.12 |
40.0 |
0.85 |
1125 |
726 |
11922 |
grab |
3.04 |
21.3 |
0.29 |
1580 |
1290 |
11923 |
grab |
0.37 |
4.7 |
0.1 |
234 |
250 |
11926 |
grab |
0.436 |
1.9 |
0.05 |
28 |
240 |
11930 |
2.2 |
0.751 |
15.0 |
0.04 |
1850 |
230 |
11932 |
grab |
0.598 |
14.8 |
0.1 |
93 |
334 |
11934 |
1.3 |
1.12 |
6.5 |
0.4 |
88 |
281 |
11940 |
grab |
0.781 |
2.4 |
0.13 |
639 |
1335 |
11941 |
4.5 |
1.045 |
22.7 |
0.76 |
441 |
955 |
11942 |
4.4 |
0.423 |
10.0 |
0.05 |
210 |
787 |
11945 |
2.3 |
0.614 |
8.1 |
0.03 |
115 |
530 |
11946 |
grab |
2.59 |
38.4 |
0.03 |
403 |
736 |
11951 |
0.3 |
0.695 |
7.6 |
0.07 |
3110 |
908 |
11954 |
5.6 |
0.676 |
25.4 |
0.13 |
1550 |
1930 |
11955 |
grab |
0.37 |
4.2 |
0.12 |
396 |
1285 |
11957 |
3.5 |
0.012 |
0.2 |
1.465 |
10 |
5440 |
11958 |
1.7 |
0.989 |
40.5 |
0.67 |
168 |
1080 |
11960 |
0.4 |
0.558 |
2.4 |
0.01 |
83 |
150 |
11961 |
0.2 |
0.73 |
11.9 |
0.19 |
197 |
898 |
11962 |
3.2 |
2.64 |
62.1 |
0.09 |
255 |
317 |
11963 |
2.2 |
0.88 |
25.6 |
0.14 |
513 |
518 |
11965 |
1.4 |
1.16 |
28.0 |
0.07 |
260 |
156 |
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. The pillow lava sequence is divided into Upper and Lower Pillow Lavas, with the majority of massive sulphide bodies located along the contact between pillow lava sequences, and the remainder between the Lower Pillow Lavas and the Basal Group. All of the Company's applications overlie these important contacts. Gold mineralization associated with the massive sulphide ores has not historically been evaluated.
Quality Control and Assurance
The Company's field activities in Cyprus are under the direction of Jim Chapman, P.Geo. (BC), consultant to the Company and "qualified persons", as defined by NI 43 101, who are responsible for the technical content of this news release.
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. The Company is well funded to continue to define and explore its existing projects and to acquire and explore new projects.
In addition to its exploration permits in Cyprus, the Company holds a 100% interest in its Moura Licence in Portugal and 100% interest in two projects in the historic Bergslagen mining district of southern Sweden.
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 Don Flahiff at (604) 669-2701, toll free at 1 800 663 0510, or email to info@northernliongold.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
Northern Lion Locates Positive Drill Data on Cyprus Copper-Gold Enriched VHMS Projects
The Republic of Cyprus
Phase I exploration in Cyprus has commenced on the Philani and Kokkinovounaros (Red Hill) projects. This work includes detailed mapping, soil and rock geochemical sampling, Induced Polarization ("IP") and magnetic surveys to generate diamond drill targets.
At Red Hill some pre-WWII gold workings focused on a substantial gossan covering the peak of a small hill. The data compilation program has located geological mapping, geophysical survey data and historical drill logs from both the Geological Survey and the Hellenic Mining Company which are located within the present permit controlled by Northern Lion.
In the 1950's Hellenic Mining acquired this area under an exploration permit due to the presence of the Red Hill gossan. Through a combination of geological, geochemical and geophysical surveys they identified a massive pyrite body (Kambia Mine) approximately 500m to the northwest of Red Hill. This became their main focus of attention and ultimately produced 330,000 tons of pyrite. It contained a copper rich zone along the northwest edge of the main body of pyrite, which appears to be controlled by a major northwest trending structure. A strong northerly trending structure is visible in the open cut workings at the Red Hill gossan, which is located at the intersection of these two linears. No work appears to have been done to test the extensions of the northerly trending structure.
During this period five holes were drilled on the Red Hill workings over a 125m strike length and analysed for gold, all of which assayed over 1 gram per tonne ("g/t") for the entire hole to a maximum depth of 50m below surface. No other holes drilled in the area by Hellenic Mining Company or the Geological Survey were analysed for gold. Additional significant results from this area include 143m of 0.4% copper to the south of Red Hill and 40m of 1% copper in a hole to the northwest of the open pit.
Detailed mapping and soil sampling are currently underway on the areas to the north and south of the Red Hill gossan, which will be followed up with an IP and magnetic geophysical survey. Drill testing of the gold target at Red Hill will be undertaken once a drill has been mobilized into the country.
On Philani the target is a partially defined orebody of high grade copper and zinc massive sulphide mineralization with significant gold values (this resource predates National Instrument 43-101 ("NI 43-101") and was not prepared in accordance with its requirements). Northern Lion's previous surface sampling returned over 4g/t gold from a gossan located peripheral to the massive sulphide body. The current mapping has shown the anomalous gossan to be one of a series located along a northwest trend, none of which had been previously tested.
Research in the files of the Cyprus Geological Survey has uncovered historical drill data that indicates a hole located to the west of the massive sulphide body that appears to intersect a feeder zone. This hole encountered 24m of 0.4% copper, but was not analysed for gold. It is also proximal to the 4g/t gold assay from the surface gossan.
There are currently no diamond drill rigs in the Republic of Cyprus and so the Company has entered into discussions with a Canadian drill company to ship all the necessary equipment for the forthcoming drill program.
The following table contains a summary of the significant values returned from samples collected during previous evaluations. The results of that work clearly illustrate the potential of the Cyprus type massive sulphide bodies to host significant gold mineralization along with high grade copper, zinc and silver.
Sample # |
Sample type |
AU g/t |
Cu % |
Pb % |
Zn % |
Ag g/t |
PH27 |
10-11m drill chips |
0.334 |
1.667 |
0.013 |
0.7 |
4.1 |
PH28 |
11-12m drill chips |
2.184 |
7.364 |
0.2668 |
7.15 |
67 |
PH29 |
12-14m drill chips |
1.637 |
8.043 |
0.1134 |
13.38 |
43.1 |
PH30 |
14-16m drill chips |
1.156 |
6.568 |
0.0807 |
17.59 |
36 |
PH5 |
Grab |
4.046 |
0.5999 |
0.0553 |
0.2343 |
>100.0 |
The average grade for the 10 -- 16m interval in this hole is 6.4% copper, 11.6% zinc, 1.4g/t gold and 38g/t silver.
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. The pillow lava sequence is divided into Upper and Lower Pillow Lavas, with the majority of massive sulphide bodies located along the contact between pillow lava sequences, and the remainder between the Lower Pillow Lavas and the Basal Group. All of the Company's applications overlie these important contacts. Gold mineralization associated with the massive sulphide ores has not historically been evaluated.
Moura Project, Portugal
The Moura Licence is approximately 187 square kilometres and is located 180 kilometres eastsoutheast of Lisbon. The licence encompasses two deposits (Enfermarias and Preguica), and 11 known mineral occurrences, within a 25 kilometre long lead-zinc-silver belt. The mineralization is strata-bound and is hosted by Lower Paleozoic carbonates within the Ossa -- Morena Zone of the Iberian Hercynian Orogen. The Moura area has an extensive exploration history commencing in the 1940's, with the majority of the work being completed before 1980.
Northern Lion is initiating a geophysical survey combining IP and Ground Magnetics. The survey will initially cover two areas of interest that display zinc and copper geochemical soil anomalies, neither geophysical surveys nor drilling has been completed within these areas previously. Based on the success of the geophysical survey drill targets will be selected for testing.
Quality Control and Assurance
The Company's field activities in Cyprus are to be supervised by Dr. Kyriacos Louca, under the direction of Jim Chapman, P.Geo. (BC), and the Moura programs are under the supervision of Joan McCorquodale, P. Geo. (BC), consultants to the Company and "qualified persons", as defined by NI 43-101, who are responsible for the technical content of this news release.
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. The Company is well funded to continue to define and explore its existing projects and to acquire and explore new projects.
In addition to its exploration permits in Cyprus and 100% interest in its Moura Licence in Portugal, the Company holds a 100% interest in several projects in the historic Bergslagen mining district of southern Sweden.
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 Don Flahiff at (604) 669-2701, toll free at 1-800-663-0510, or email to info@northernliongold.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