The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
NCG:TSX-V
President and CEO: John Williamson, P. Geol.
Vice President and CFO: Sean Mager, B.Comm.
Vice President, Exploration: Peter Kleespies, M.Sc, P.Geol.
North Country Gold Corp. focused in 2012 on advancing exploration at its Committee Bay Project, which hosts the Three Bluffs gold deposit in the 300-kilometer- (186 miles) long Committee Bay Greenstone Belt in central Nunavut.
North Country has identified five distinct mineral development centers in its 2,147-square-kilometer (829 square miles) land package located 180 kilometers (112 miles) northeast of the of Agnico Eagle Mining Ltd.'s Meadowbank gold mine.
Three Bluffs is part of a structurally controlled lode gold system hosted within oxide facies iron formation and greywackes.
The company planned to test the potential beneath the current resource area at the deposit.
The drilling targeted high-grade gold mineralization over a strike length of 1,200 meters and a vertical extent of 300 meters, in the interval between 300 meters and 600 meters below surface.
During the three months ended May 31, North Count spent about C$7 million on its 2012 exploration program, reporting a significant increase in its resource estimate for the property, including an indicated resource of 4.30 million metric tons grading 4.90 grams per metric ton gold for 678,000 ounces and inferred resource of 4.53 million metric tons grading 5.69 g/t for 829,000 ounces.
Later in the season North Country said it expanded and improved the Committee Bay gold resource from data collected on wide-spaced exploration drilling.
The company also reported the sale of an Australia-based subsidiary, Toro Drilling Services Pty Ltd., for A$752,000 cash.
Cash and short-term deposits: C$3.62 million (at July 20, 2012)
Working capital: C$3.57 million (at July 20, 2012)
Market capitalization: C$44.72 million (at Oct. 5, 2012)
9797 45 Ave., Suite 220
Edmonton, AB Canada T6E 5V8
Tel: 780-437-6624 Fax: 780-439-7308
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