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NL Northern Lion Gold Corp

0.29
0.00 (0.00%)
03 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Northern Lion Gold Corp TSXV:NL TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.29 0.21 0.28 0 21:00:06

Northern Lion Gold Corp.: Gold Grades up to 30.8 g/t Sampled on Western Permits, Cyprus

09/09/2010 4:00pm

Marketwired Canada


Northern Lion Gold Corp. (TSX VENTURE:NL)(FRANKFURT:N3E) (the "Company" or
"Northern Lion") wishes to provide this update on the 2010 exploration programs
for the Company's exploration projects in Cyprus.


The Republic of Cyprus

The first phase of the 2010 exploration program on the Company's Cyprus projects
has now been completed. Outstanding surface sampling results and the drill core
analyses are anticipated shortly and will be used as the basis for the 2010/2011
program.


Concurrently with the drill program recently announced (July 27, 2010), grid
sampling and mapping programs were initiated on two of the Company's western
permits, the Evoloimeni and Asproyia targets.


On the Evoloimeni property a small pit approximately 75m by 125m had been
partially excavated while testing for copper and pyrite bodies. This project is
located to the southeast of and along the same trend as the old Limni orebody
which was mined in the 1930's. Limni was one of the larger orebodies on the
island and a total of approximately 4.2 million tonnes of material at a grade of
1.4% copper was produced from this operation. A program of chip and channel
sampling was carried out over the exposures in the pit and along trend to the
southeast. Significant results from this work are included in the table below.
Highlights of this sampling include 1.13g/t gold over 22.6m across the bench and
grabs of up to 30.8 g/t gold from the wall of the upper bench. This high-grade
gold value occurs in an intensely argillic altered selvage around a pillow
basalt, with minor very fine grained pyrite and trace chalcopyrite. A chip
sample across the face containing the high-grade sample assayed 2.06g/t gold
over 10.7m.




Sample #                 Width               Type                    Au g/t
12242                      3.4               chip                     1.205
12243                        3               chip                      1.11
12244                                        grab select               8.87
12247                      1.1               chip                      3.85
12248                      0.8               chip                     1.465
12249                        5               chip                     1.925
12254                      1.2               chip                      2.67
12257                        5               chip                      1.04
12258                      4.2               chip                     1.035
12260                        5               chip                     1.255
12261                      2.9               chip                      2.61
12263                                        grab select               2.71
12266                        4               chip                      2.78
12267                      4.4               chip                     1.255
12268                        5               chip                      2.94
12269                                        grab select               30.8
12270                      5.7               chip                     1.285
12271                                        grab select               2.72
12273                      3.2               chip                      1.26
12280                      1.7               chip                      1.24
12281                                        grab select               10.3
12286                                        grab                       2.3
12295                        1               grabs                     3.93
12296                      3.8               chip                       4.6
12299                                        grabs                     1.68
12300                      3.8               chip                     1.255
12301                        5               chip                      1.05
12311                        3               chip                      1.26
12317                      3.5               chip                      1.04
12318                       10               grabs                     2.04



Grid based soil sampling was initiated to the southeast of the pit and covers an
area of 1,200m by 800m along the extension of the trend. The sampling has been
completed and all samples are now in the lab. Gold values up to 1.7g/t have been
received from the initial phase of soil sampling. Rock sampling has returned
values up to 2.5g/t gold as far as 800m to the southeast of the pit.


At Asproyia previous regional soil sampling had shown widespread anomalous
copper and gold values. These clustered over an area approximately 1,000m east
west by 800m north south. Results of the grid soil sampling have returned gold
values up to 1.2g/t and copper values up to 1.5%.


The copper values form a west northwesterly band across the top of the grid
approximately 800m by 200m with values up to 0.57%. A second zone of anomalous
values runs north south through the center of the grid area on 2 lines for the
entire 800m length of the lines. 


The 1.2g/t gold value is located at the northwest edge of the grid and will
require additional lines to the west to fully delineate this anomaly. Adjacent
samples of 0.88 and 0.53g/t gold were located in the northeast portion of the
grid along with four additional samples of greater than 0.1g/t gold over an area
of 200m by 100m. Another cluster of anomalous soil gold values covers an area of
500m by 200m on the southern edge of the grid, with values of up to 0.35g/t
gold.


History

The history of mineral exploitation (copper, gold and other metals) on the
island of Cyprus dates back to the Bronze Age, approximately 5,000 years ago.
The Phoenicians were the first to process copper on the island, followed by the
Romans and this activity has continued to the present day. The evidence of this
long history of mining is readily observed in the abundant ancient surface and
underground workings along with extensive slag heaps. Mineral exploration in the
Republic of Cyprus has been at a very low level over the last few decades, and
management believes that there is a high probability of additional massive
sulphide bodies being present that did not outcrop, as nearly all of the known
deposits did.


The metal deposits of Cyprus are dominantly copper-bearing volcanogenic hosted
massive sulphide "VHMS" deposits. These deposits are hosted within the pillow
lava sequence of the Troodos Ophiolite Complex. The pillow lava sequence is
divided into Upper and Lower Pillow Lavas, with the majority of massive sulphide
bodies located along the contact between pillow lava sequences, and the
remainder between the Lower Pillow Lavas and the Basal Group. All of the
Company's applications overlie these important contacts. Gold mineralization
associated with the massive sulphide ores has not historically been evaluated.


Quality Control and Assurance

The Company's field activities in Cyprus are under the direction of Jim Chapman,
P.Geo. (BC), consultant to the Company and "qualified person", as defined by
National Instrument 43-101, who is responsible for the technical content of this
news release.


About Northern Lion

Northern Lion Gold Corp. is a Canadian mineral exploration company, listed on
the TSX Venture Exchange and the Frankfurt Exchange. The Company is committed to
building a strong portfolio of projects within mining-friendly and
infrastructure-rich areas of Europe.


In addition to its exploration permits in Cyprus the Company holds a 100%
interest in its Moura Licence in Portugal and a 100% interest in two projects in
the historic Bergslagen mining district of southern Sweden.


NORTHERN LION GOLD CORP.

John Lando, President

This news release includes "forward-looking information", as such term is
defined in applicable securities laws. The forward-looking information includes,
without limitation, the success of exploration activities and other similar
statements concerning anticipated future events, conditions or results that are
not historical facts. These statements reflect management's current estimates,
beliefs, intentions and expectations; they are not guarantees of future
performance. The Company cautions that all forward-looking information is
inherently uncertain and that actual performance may be affected by a number of
material factors, many of which are beyond the Company's control. Such factors
include, among others, risks and uncertainties relating to exploration and
development; the ability of the Company to obtain additional financing; the
Company's limited operating history; the need to comply with environmental and
governmental regulations; potential defects in title to the Company's
properties; fluctuations in currency exchange rates; fluctuating prices of
commodities; operating hazards and risks; competition; and other risks and
uncertainties. Accordingly, actual future events, conditions and results may
differ materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. All statements are made
as of the date of this news release and, except as required by law, the Company
is under no obligation to update or alter any forward-looking information.


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