Northern Gold Mining Inc. is an advanced exploration company based in Toronto listed on the TSX Venture Exchange under the symbol “NGM.” Presently, the company is focused on the Golden Bear Project, and it also is outlining several gold deposits along the Destor Porcupine Fault Zone, which is approximately 100 kilometers east of Timmins, Ontario, within the Timmins-Kirkland Lake Gold Camp.
“Northern Gold Mining is dedicated to gold exploration and discovery within the proven mining districts of Northern Ontario and to maximizing shareholder value through focused exploration, testing and development of high quality mineral targets, with a goal of becoming an efficient, low-cost regional gold producer,” the company says.
Northern Gold Mining says its management team brings considerable experience to bear. This team continues to target and drill the advanced stage of the Garrison Gold Property and Buffonta Property to further define the potential of the Gold Bear Project. Northern Gold Mining says its management team is a key component of the company’s continued success.
“The company is continually assessing its options available to deliver shareholder value, including seeking out strategic partners and/or obtaining the financial resources to further develop the project,” according to Northern Gold Mining.
“In pursuit of this strategy, Northern Gold has implemented responsible exploration practices, including respect for the environment and its stakeholders and taking care to be a consistently good neighbor,” the company adds.
According to Northern Gold Mining, the Golden Bear Project includes land holdings of more than 53,000 acres near Timmins. The 43-101 includes measured and indicated resources on the large-tonnage, open-pit bulk mineable Garrcon Deposit.
The company also has made acquisitions of Victory Gold Pike Mine, Harker-Holloway Gold Property. Northern Gold Mining has demonstrated a low discovery cost per ounce of gold, as well.
Northern Gold Mining also takes pride in its role as a good corporate citizen. The company boasts about its positive working relationship with neighboring Wahgoshig First Nation, as well as its already established responsible environmental practices through this corporate governance.
Deposits in Demand
The company says its properties are stocked with a lot of strong potential. The JonPol deposit underground consists of a 500-foot vertical shaft and a ramp to the 450-foot level, the company says. The deposit holds a 43-101-compliant resource of 63,000 ounces at 7.77 gpt indicated and 250,000 ounces at 4.93 gpt inferred in the JP Zone.
Northern Gold Mining’s current drilling has extended this zone to 5,600 feet on strike to include the JD Zone, the RP Zone and the JonPol East Zone to a depth of 1,000 feet. By comparison, the company says Hillsbourough Resources extracted a 54,000-ton sample grading a full 8 gpt from the JP Zone in the 1990s.
The Great Garrcon
Northern Gold Mining says the Garrcon Deposit presently holds a 43-101 compliant resource of 600,000 ounces measured at 1.06 GPT and 670,000 ounces indicated at 1.00 GPT. The company says recent drilling has discovered the narrow-vein, high-grade Garrcon East Zone, which is 600 meters long and open on strike.
Historically, 63,000 tons grading at 4.4 GPT of ore was extracted from the Kerr Pit on the Buffonta in the early 1980s. There is a historical resource of approximately 600,000 tons with 102,000 ounces grading at 5 GPT remaining, the company says, and present drilling is attempting to show continuity between the Kerr Pit and the Zone 6, which has 36,500 tons mined at a grade of 4.3 GPT. Mineralization has been intersected 100 meters below the Kerr Pit.
In the early 1980s, Royal Oak Mines extracted approximately 100,000 tons of ore to 100 feet of depth and recovered 10,000 ounces of gold at the Gold Pike property.
The Harker Holoway hosts the Iris Mine and contains considerable historical drill data on the strategic land package.