Toronto, Ontario (January 8,
2008): Northern Gold Mining Inc. (TSX-V NGM) is pleased to
announce the initial results of its 18 hole, 2290 metre Bourkes
Mine winter drill program and results from grab sampling in the Bourkes
Mine area and in the Wolf Lake area approximately 3 kms. to the south
of the Bourkes Mine. The high-grade past producing Bourkes Mine
property is located in Benoit Township in north-eastern Ontario, 22 km
north-west of the Kirkland Lake, Ontario gold mining camp where to date
more than 24 million ounces of gold have been produced.
The
Bourkes mine had intermittent production from 1918 to 1947 and though
production records from the period are very incomplete to non-existent,
other historical records from the period note bulk sample grades from
260.26 g/t (7.59 opt) Au to 586.36 g/t (17.10 opt) Au. The Bourkes Mine
infrastructure includes a 400’ deep shaft with four levels driven
off the shaft for a total of 1450’ of lateral development.
- DDH B07-15: 404.92 g/t Au (11.81
opt) over 0.3 m (1.0 ft)
- DDH B07-09: 9.33 g/t Au (0.27 opt)
over 0.7 m (2.3 ft)
- Bourkes
Mine Area Prospecting: grab samples assay up to 465.60 g/t Au
(13.58 opt) and 10.44% Cu
- Wolf Lake Summer Prospecting: grab
samples assay up to 22.32 g/t Au (0.65 opt)
To date 13 holes of the 18 hole
program have been completed with assays returned from 7 of the 13
completed drill holes. All holes drilled to date have intersected the
quartz-carbonate-pyrite stringer zone that defines the Bourkes Mine
mineralized zone in the vicinity of the targeted down the hole depth.
DDH B07-15 intersected high-grade Au (404.92 g/t over 0.3 m) at the
elevation of the deepest level (380’ level) and 50’ south
(ahead) of the current most southerly drift face thus verifying the
Bourkes Mine mineralized zone continues outside of the area previously
opened by the underground infrastructure. Prior to this intersection
all reported high-grade Bourkes assays had been confined to the area
defined by the existing mine openings.
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Following the completion of this
drill program Northern Gold is considering to follow-up with a step-out
drill program to test for the Bourkes mineralization down-dip below the
current mine openings and on-strike to the north and south.
Throughout the summer of 2007
Northern Gold Mining carried out a geological mapping and prospecting
program around the Bourkes Mine area and the Wolf Lake area 3 km. to
the south. Within the Wolf Lake area the Wickstead showing, located
approximately 1 km west of Wolf Lake, is scarred by numerous old
trenches (earliest recorded work circa 1918) with historic records
highlighting grab samples assaying 219.46 g/t (6.40 opt) Au and 23.32
g/t (0.68 opt) Au over 2 ft. (Lovell, ODM GR 92, Geology of the Bourkes
Area). A short 9 hole drill program (Pryme Energy Resources Inc.) here
in 1983 yielded assays up to 14.16 g/t (0.41 opt) Au over
2’.. Three areas in the vicinity of the Wickstead showing
were intensively prospected and mapped by Northern Gold Mining during
the summer of 2007, all within 300 metres of each other along a NW-SE
strike (similar to the strike of the Bourkes mineralizaton). Gold
mineralization in the Wickstead showing is hosted by
quartz-carbonate-pyrite stringer and vein zones similar in appearance
to the Bourkes Mine mineralization to the north. These areas have been
named Wickstead North, Wickstead Central and Wickstead South and
correspond with a prominent IP anomaly outlined during a spring 2007
survey... The Wickstead Cental area is the historic Wickstead showing.
Grab sampling during the summer of 2007 included the following assay
highlights:
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22.32 g/t (0.65 opt)
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8.29 g/t (0.24 opt)
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465.60 g/t (13.58 opt) Au
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14.54 g/t (0.42 opt)
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Based on last summer’s mapping
and prospecting of the Wickstead area Northern Gold is currently
proposing a follow-up drill program, currently being conceptualized.
Northern
Gold Mining has implemented a quality assurance and control (QA/QC)
program to ensure sampling and analysis of all exploration work is
conducted in accordance with the best possible practises. The drill
core is logged and split with half core samples sent either to Swastika
Laboratories, Swastika, Ontario or Polymet Laboratories, Cobalt,
Ontario and analyzed using the appropriate gold fire assaying
technique. The other half of the core is retained for future assay
verification. For QA/QC purposes the Company submits blanks and
standards every 50 samples. Approximately 5% of sample rejects and/or
pulps will be sent to a different lab from the lab which ran the
original assay for check assaying.
R.V.
Zalnieriunas, P.Geol., is a “Qualified Person” as defined by NI 43-101
and has reviewed this release.
Northern
Gold Mining Inc. is a well-financed Toronto-based junior resource
company dedicated to gold exploration in the proven mining camps of
Kirkland Lake and Timmins in Northern Ontario. The goal of our
experienced and highly-skilled management team is to maximize
shareholder value through successful exploration and the aggressive
testing of high quality targets such as our advanced-stage
past-producing gold property located in the Kirkland Lake area
For further information please contact:
Northern Gold Mining Inc.
CAUTIONARY STATEMENT: The TSX Venture
Exchange does not accept responsibility for the adequacy or accuracy of
this release.. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein. This News Release includes certain
“forward-looking statements”. All statements other
than statements of historical fact, included in this release,
including, without limitation, statements regarding potential
mineralization and reserves, exploration results, future plans and
objectives of Continental Nickel Limited, are forward-looking
statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from Northern Gold Mining Inc.
expectations are the risks detailed herein and from time to time in the
filings made by Northern Gold Mining Inc. with securities regulators.