North Country Gold Advances Strategic Planning at Three Bluffs
22.01.2014 | The Newswire
January 22, 2014, Edmonton, Alberta - North Country Gold Corp. (NCG: TSX-V; NCGDF: OTCQX) ("North Country", "NCG" or the "Company") today announced that the company, has completed a preliminary high-level engineering and logistics study on the Three Bluffs Gold Project, located within Nunavut, Canada. The study was initiated by NCG to assess potential project metrics and to assist in the development of strategies for efficient, directed future exploration and accelerated project development. The study reviewed a number of potential mining and processing scenarios for possible future development of the Three Bluffs Gold Project including extraction via underground mining only, or via combined open pit and underground mining methods occurring either parallel or in sequence. Consideration was also given to potential onsite processing using a stand-alone gravity and/or carbon-in-leach plant was also assessed for potential operations processing between 500 to 3000 tonnes of ore per day. Capital costs and operating costs for each scenario were estimated using industry analogues and global mining databases enabling the impact of cut off grades to be assessed and potential project metrics to be calculated intended to be considered for a planned PEA study.
Based on results of the study and sensitivity analysis the Three Bluffs Gold Project is more sensitive to increased grade than to increased mineralized tonnes. North Country believes that the Three Bluffs Gold Project is best suited to a possible medium sized operation which focusses on coherent trends of high grade gold mineralization occurring within the present resource.
"The results of the high-level trade off and logistical studies has provided NCG with invaluable information on how to focus ongoing work and fast track the Three Bluffs Gold Project to the PEA stage and to future development" stated John Williamson, President and CEO of North Country Gold Corp.
The Three Bluffs gold deposit is a structurally controlled lode gold deposit which occurs along the 4.3 km section of the 15 km long Walker Lake trend. Drilling along the 4.3 km section has shown this trend to be continually mineralized. Surface sampling on undrilled portions have returned high grade sample results over its entire length. The potential to add additional resources along strike and below the 500m current depth of drilling is high.
Table 1. Three Bluffs Resource Estimate, April 2013
(see press release dated April 23, 2013)
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|Open Pit- Three Bluffs Inside Whittle Shell |
|-------------------------------------------------------------------|
|Classification |Grade |Tonnage |Au g/t |Au ounces|
| |Cut-off |tonnes | | |
| |g/t | | | |
|-------------------------------------------------------------------|
|Indicated |1.35 g/t |3,600,000|4.81 |557,000 |
|-------------------------------------------------------------------|
|Inferred |1.35 g/t |1,000,000|5.24 |169,000 |
|-------------------------------------------------------------------|
| |
|-------------------------------------------------------------------|
|Underground - Three Bluffs Outside Whittle Shell |
|-------------------------------------------------------------------|
|Classification |Grade |Tonnage |Au g/t |Au ounces|
| |Cut-off |tonnes | | |
| |g/t | | | |
|-------------------------------------------------------------------|
|Indicated |2.50 g/t | |5.46 |126,000 |
| | | 716,000 | | |
|-------------------------------------------------------------------|
|Inferred |2.50 g/t |4,520,000|5.48 |796,000 |
|-------------------------------------------------------------------|
| |
|-------------------------------------------------------------------|
|Total Three Bluffs Resource| |Tonnage |Au g/t |Au ounces|
| | |Tonnes | | |
|-------------------------------------------------------------------|
|Total Indicated OP+UG | |4,320,000|4.91 |683,000 |
|-------------------------------------------------------------------|
|Total Inferred OP+UG | |5,520,000|5.43 |965,000 |
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Table 2. Three Bluffs Additional Mineral Potential, April 2013
(see press release dated April 23, 2013)
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|Additional Mineral Potential |
|------------------------------------------------------|
|tonnage |Grade |Contained Au |
|------------------------------------------------------|
|(tonnes) |(g/t Au) |(ounces) |
|------------------------------------------------------|
|4,500,000 to 7,500,000|3.8 to 7.3|550,000 to 1,736,000|
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Additional mineral potential exists in the down-dip extensions of the Antler, North, South and West as current drilling in these area has encountered high-grade intersections indicating that high grade mineralization is open to depth.
About North Country Gold Corp.
North Country Gold Corp. controls the gold-rich Committee Bay Greenstone Belt located 180km northeast of the of Agnico Eagle's Meadowbank gold mine in Nunavut Canada. It is one of the largest under-explored greenstone belts in Canada with numerous drill-ready high-grade gold targets. The Company holds a 100% interest in 339,240 acres along the 300km long belt and has identified 5 distinct exploration centres with numerous high-grade gold drill intercepts. North Country operations are currently focused on advancement of the Three Bluffs deposit, which is geologically comparable, with similar grades, type of mineralization and age, to the Lupin, Meadowbank and Meliadine gold deposits.
On behalf of the Board North Country Gold.
/s/"John Williamson"
For more information on North Country Gold
www.northcountrygold.com or
Brian Budd, Corporate Secretary & VP of Corporate Development
Email: brianb@northcountrygold.com
Tel: 604-697-2861
North Country Gold Corp. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The content of this news release and the Company's technical disclosure has been reviewed and approved by Peter Kleespies, M.Sc., P.Geol., who is the Qualified Person as defined by NI 43-101 Standards of Disclosure for Mineral Projects. A detailed description of North Country Gold Corp.'s QA/QC program is provided on the Company's website at www.northcountrygold.com.
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 release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward-looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com
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