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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 1, 2017) – Northern Empire Resources Corp. (TSX VENTURE:NM) (the “Company” or “Northern Empire”) announces that the board of directors has approved a phase 1 exploration budget for the Nevada based Sterling Property. The phase 1 program will consist of 52 drill holes totalling approximately 5,200 meters of drilling. Of the 52 drill holes, 25 will be reverse circulation holes totalling 3,000 meters and 27 will be core holes totalling 2,200 meters. The phase 1 program will focus on the Sterling, Daisy, Secret Pass and SNA deposits. In addition, the Company will perform a regional evaluation of the 95-square kilometer claim package and fly a geophysical survey of the entire property. It is anticipated that drilling will start in mid-August.
Approximately, 3,700 meters of drilling will be on the Sterling Deposit, where Northern Empire recently outlined a pit constrained inferred resource of 231,000 oz Au grading 3.67 g/t Au. This work will allow for an upgrade of the confidence of the resource, test for extensions along strike and provide metallurgical samples prior Northern Empire beginning economic studies.
The Sterling deposit is permitted to restart open pit mining, and has significant existing infrastructure.
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. Included in this estimate is the Sterling Deposit where a pit constrained resource of 231,000 oz Au in 1,958,000 tonnes with an average grade of 3.67 g/t Au was determined. Further information on the Sterling Project Resources, please refer to the Company’s news releases dated April 3 and May 2, 2017, and the Technical Report titled “Sterling Property, Nye County, Nevada, USA: A Property Under Option to Purchase by Northern Empire” posted on SEDAR.
- Permitted to begin operations. The Bureau of Land Management has issued a Finding of No Significant Impact (“FONSI”) and approved the next phase of mining at Sterling. This permit was issued on May 12, 2016, is transferable, and has an indefinite term.
- Location. The Sterling Property is located approximately 185 kilometers NW of Las Vegas on the eastern flank of the Bare Mountains. The property is accessed via highway I-95 and gravel roads.
- Significant Engineering Completed. To achieve the FONSI, designs for the new pits and heap leach facilities were completed that Northern Empire will be able to use as a basis for development going forward.
- Significant infrastructure in place. Processing facilities, mine offices and generators are on site and are currently being used to rinse heaps from prior operations.
About Northern Empire
Northern Empire is an aggressive, Vancouver based, gold explorer working to take advantage of the current improving market conditions by assembling a value driven portfolio of properties. In addition to the Sterling Gold Project, Northern Empire holds the Richardson Gold Project, one of the most attractive exploration targets in the Tintina Trench.
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 new 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.
Michael G. Allen
President, CEO and Director
604 646 4524
604 646 8356
Tue, 01 Aug 2017 12:30:00 GMT