Northern Vertex Mining announces record production of 14,673 gold equivalent ounces and record revenues of $27 million for the quarter ended September 30 from the Company’s 100% owned Moss Gold Mine in NW Arizona.
Ken Berry, President and CEO commented, “I am delighted to share this quarter’s record production results with our shareholders. In a strong gold market, we have delivered our sixth consecutive monthly gold production record and increased quarterly production to 14,673 gold equivalent ounces, an increase of approximately 29% over the previous quarter ended June 30, 2020. While driving production up, our team has been driving costs down in three notable ways: (1) bringing our intermediate leach solution system online that drives down AISC metrics as more gold is recovered on a consistent basis; (2) replacing our diesel generators with grid power which reduces our kWh power costs by approximately 74%; and (3) bringing in a new mining contractor to capture inherent cost savings in the pit.”
Mr. Berry continued, “With production up, costs down and our federal permit in hand, our focus now is to unlock the long-term value of the Moss Mine. To do this, we are delivering on two key projects. We are: (1) executing an aggressive 60,000 foot exploration campaign that is expected to both unlock the high-grade Ruth Vein and add significant ounces that can be exploited from our current mining operations; and (2) running a 45,000 ton bulk sample to assess the opportunity to dramatically expand throughput and drive down operating costs by transitioning from 1/4” crush to 3/8” crush. We will continue to update shareholders on both of these value-surfacing drivers in the near future.”
Northern Vertex Mining Corp. owns and operates the Moss Mine, currently the largest primary gold and silver mine in Arizona.