Mine Plan Sequencing from center pit to west pit
During the quarter, mining operations transitioned from the centre pit into the west pit, where bulk disseminated stockworks dominate. This transition enabled higher tonnage mining rates and more favourable strip ratios that are expected to lead to lower costs and lower cut-off grades as compared to the narrow-vein mining previously conducted in the centre-pit.
Cash Position
The Company s cash position of $8.3 million at December 31, 2020 is expected to be augmented by the C$22.6 million financing announced by Northern Vertex and Eclipse Gold in connection with the merger of Northern Vertex and Eclipse Gold (see press release dated January 14, 2021). Subject to the satisfaction of certain conditions, the merger between Northern Vertex and Eclipse Gold is expected to close on February 12, 2021.
VANCOUVER, BC, Jan. 18 , 2021 /PRNewswire/ - Northern Vertex Mining Corp. is pleased to announce revenue of $23.4 million and production of 12,401 gold equivalent ounces for the. | January 19, 2021