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MENAFN - ABN Newswire - 18/11/2012

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(MENAFN - ABN Newswire)

Northern Mining Limited (ASX:NMI) is pleased to advise that it has increased its holding in the East Kalgoorlie JV from 76% to 79% in consideration for past exploration expenditure contributable by Balagundi Gold Pty Ltd (Balagundi).

Under the current JV Agreement, Balagundi will continue to contribute towards future exploration obligations on the East Kalgoorlie Project.

Snake Hill Prospect (East Kalgoorlie JV) Drilling Program“ Western Australia
At the Snake Hill Prospect, exploration completed by the Company has identified three bedrock gold mineralised trends within a broad 3 km x 1.5 km gold in auger geochemical anomaly. The focus of exploration has been on the Subsidiary Structure where drilling has identified bedrock gold mineralisation over a 1,500 metre strike length. This significantly mineralised trend remains open along strike.

Better results from rotary air blast (RAB) drilling along this structure include:

- 28 metres @ 0.83 g/t Au from 52 metres (see ASX Release 29 December 2011)

- 32 metres @ 0.42 g/t Au from 64 metres (see ASX Release 29 December 2011)

- 44 metres @ 0.39 g/t Au from 76 metres (see ASX Release 29 December 2011)

- 13 metres @ 0.43 g/t Au from 72 metres (see ASX Release 29 February 2012)

- 4 metres @ 2.65 g/t Au from 48 metres (see ASX Release 23 April 2012)

The second and third trends lying parallel to the Subsidiary Structure, have also recorded bedrock gold intercepts over 300 metres of strike. Both of these trends are untested along strike.

Snake Hill Prospect (East Kalgoorlie JV) Drilling Program“ Western Australia

Drilling results received to date at the Snake Hill Prospect are highly encouraging and Northern Mining believes there is strong potential to identify significant gold mineralisation along all three bedrock gold trends.

The Company is poised to commence an evaluation of the bedrock potential with the commencement of a 5 hole reverse circulation (RC) drilling program this week.

Camel Manganese Prospect Drilling Program “ Northern Territory

Reconnaisance exploration at the Camel Prospect identified manganiferous outcrops in two discrete areas some 23 kilometres apart. Exposure of the outcrops are limited with the zones of interest mostly covered by a shallow cover sequence. Rock chip sampling of the limited outcrop returned consistently elevated Mn values of up to 15.7% Mn at Area 1 and up to 45.6% Mn at Area 2 (see ASX announcements 2 September 2010 and 22 September 2010).

The Company is progressing the regulatory approval process and anticipates approvals to be received in late November, with the maiden drilling program to commence shortly after in late November/early De

 






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