Northern Vertex Mining Corp. (the "Company") (TSX VENTURE:NEE) is pleased to provide a corporate update on its phased project development plans, now being parallel tracked, for the Moss Gold-Silver Project located in Mohave County, Arizona.
Dick Whittington, President and CEO, Northern Vertex Mining Corp. states, "We have undertaken the target of putting the Moss Project into commercial production in an expedient but well executed manner by early 2014 and the "parallel track approach" is now being utilized to progress the Company towards this target in a streamlined fashion. The Preliminary Economic Assessment and the commencement of construction for the Phase I Pilot Plant by Q2 2013 are on track. We are also excited by the participation of local stakeholders at such an early stage and look forward to fruitful collaboration with them as we seek to create both shareholder value and community capacity in Mohave County."
Preliminary Economic Assessment:
CDM Smith Engineering of Arizona, Project Engineers for the Moss Project, is on target to complete the Preliminary Economic Assessment (PEA) by the end of March 2013. This economic assessment, focused on Phase I and Phase II, will address expected cash flows, operating costs and capital costs as well as mine and processing designs and other related aspects of mine design and operation. Pending the outcome of the PEA, the Company will initiate a feasibility study focusing on Phase II, with a target production rate of 5,000 tpd.