Northern Abitibi Mining Corp. ("Northern
Abitibi") (TSX VENTURE:NAI) is pleased to announce its plans for a
2011 exploration program to advance the company's wholly owned Viking
gold property in Newfoundland.
The goal of the 2011 exploration program will be to maximize high grade
resources along the Thor Trend, identify additional areas on the claim
block where resources can be defined, test a number of new structural
targets on the Viking property and ultimately obtain an updated
resource estimate. The proposed exploration contemplates a minimum of
3500 meters of drilling to expand and infill the current resource base
along with trenching, mapping, induced polarization geophysical
surveying, and possibly small scale bulk sampling.
Most of the high grade zones within the Thor Trend were not
specifically targeted during past drilling programs which were designed
to evaluate the bulk minable potential of the system. Excellent
potential to add significant additional high grade gold resources has
been identified by specifically targeting higher grade zones within the
deposit envelope and expanding them to depth and along strike. Drilling
in 2011 will target these high grade zones and is expected to both add
new ounces at low cost per ounce and significantly increase the average
grade of the deposit.
A permit application for the proposed 2011 exploration program has been
submitted and permitting approval is anticipated shortly. Surface
exploration and drilling will commence in late May as snow conditions
allow, and subject to availability of drills and drill crews.
The company is currently in discussions with various groups who have
expressed an interest in funding further work to advance the Viking
project during the 2011 field season. Details regarding financing of
the proposed 2011 exploration program will be announced as they become
available.
The Viking Property
The Viking Property contains numerous high grade veins within larger
bulk tonnage style zones of gold mineralization located within a 3 to 4
kilometre long gold-in-soil anomaly. Drilling
highlights include high grade intercepts of 5.75 metres
grading 33.7 g/t gold, 3.7 metres grading
50.1 g/t gold, 0.5 metres grading 218.8 g/t
gold as well as lower grade intercepts including 27 metres
grading 7.9 g/t gold, 23.0 metres grading 5.1
g/t gold, and 57.4 metres grading 2.8 g/t
gold. The Thor Trend contains an uncut Inferred Mineral Resource
containing 131,511 ounces of gold and is located in the mining friendly
jurisdiction of Newfoundland and Labrador and has excellent access and
local infrastructure, with a paved highway and power line located less
than one kilometre from the project. Northern
Abitibi has a 100% property interest in the Viking project subject to a
2% to 4% sliding scale net smelter royalty held by Altius
Resources. A detailed description of the Viking project is available on
our website (www.naminco.ca).
Dr. Shane Ebert, P. Geo. is the Qualified Person responsible for the
preparation of this news release.
Shane Ebert, President/Director
Except for the historical and present factual information contained
herein, the matters set forth in this news release, including words
such as "expects", "projects", "plans",
"anticipates" and similar expressions, are forward-looking
information that represents management of Northern Abitibi's internal
projections, expectations or beliefs concerning, among other things,
future operating results and various components thereof or the economic
performance of Northern Abitibi. The projections, estimates and beliefs
contained in such forward-looking statements necessarily involve known
and unknown risks and uncertainties, which may cause Northern Abitibi's
actual performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statements. These risks
and uncertainties include, among other things, those described in
Northern Abitibi's filings with the Canadian securities authorities.
Accordingly, holders of Northern Abitibi shares and potential investors
are cautioned that events or circumstances could cause results to
differ materially from those predicted. Northern Abitibi disclaims any
responsibility to update these forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved of the
contents of this press release.
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