Northern Lion advances Haveri (November 01, 2004)

Northern Lion Gold (NL-V) has retained Roscoe Postle Associates (RPA) to help define a resource estimate of the in situ mineral resource at the Haveri gold-copper project in southwestern Finland.

Under the agreement, RPA will complete a review of all historical data at Haveri and design a drill program in anticipation of a new resource estimate. RPA plans a site visit in late October. Northern Lion President John Lando says the resource estimate will not employ results from the latest round of drilling but will provide a baseline from which future work can be based.

Drilling plans at Haveri will focus on the Haveri main pit area, and a second drill is on its way to the project. Another drill, already on-site, will follow up on previous drilling and test several airborne geophysical and horizontal loop electromagnetic anomalies in the Monkanmaki area, which is in the southern portion of the property.

The Haveri project hosts stringer-to-massive-sulphide gold and copper mineralization associated with a complex, altered volcanic-sedimentary suite with later-stage, structurally controlled epigenetic gold mineralization.

The project operated as both an underground and open-pit mine, and produced about 1.5 million tonnes of ore running 3.52 grams gold per tonne and 0.52% copper between 1942 and 1962.

In 1999, a previous operator pegged inferred resources in the Haveri Mine/Shaft zone at 6.6 million tonnes grading 3.5 grams gold; the Peltosaari zone was reported to contain another 166,416 tonnes running 5.8 grams.

Northern Lion recently consolidated ownership at Haveri by acquiring Mountain Province Diamonds‘ (MPV-T) 30% stake in the claims by issuing 4 million shares. The shares are subject to a 2-year hold period, and restrictions on sales volumes thereafter. Northern Lion will also retain the voting rights on the shares for three years.