Northern Vertex Mining Corp. (TSXV: NEE) announced today that it has produced 9,912 ounces of gold equivalent for the quarter ended March 31, 2021. This gold equivalent production, calculated based on a budgeted gold:silver ratio of 75:1, came from the company’s Moss Gold Mine in Arizona.
Production for the quarter amounted to a 13.6% increase from Q1 2020’s gold equivalent production of 8,729 ounces. The breakdown of equivalent production amounts to production of 8,787 ounces of gold, a 17.6% climb from last year’s 7,469 ounces, and 84,382 ounces of silver, a 5.6% decline from last year’s 89,433 ounces.
This quarter also saw the company process 705,653 tonnes of ore, a jump 23.3% from last year’s 572,104 tonnes. Average grades however declined to 0.48 g/t from last year’s 0.69 g/t.
The company reports that although it projected grades and production will be lower in 2021, it has been eyeing to improve operations through further programs, such as its current infill drilling program and exploration of the Hercules Gold Project in Nevada, where the company recently intersected 1.63 g/t gold and 18.27 g/t of silver over 30.48 metres.
The company also reported a cash position of $13.8 million as of March 31.
Northern Vertex Mining Corp. last traded at $0.44 on the TSX.
Information for this briefing was found via Sedar, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.