NMEX Provides Updates on Northside High Oil & Gas Drilling and Winnemucca Gold Property
SALT LAKE CITY, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Northern Minerals & Exploration Ltd. (Stock Symbol: NMEX) is pleased to announce the following update on the drilling of the Northside High Prospect in Louisiana and a report on the Winnemucca Gold Property:
Northside High Drilling Prospect:
The drilling contractor has reported to our Joint Venture Partner EnergyFunders that drilling operations began on August 1, 2019 on our Northside High drilling prospect. As of August 13, 2019 the drilling contractor reported they were drilling at 5,300 feet toward a target depth of 7,300 feet.
The Northside High Prospect is located in the Beauregard Parish of Louisiana, the Cockfield (Yegua) Sand. Notable wells in the area have produced in excess of 200,000 barrels from this formation. NMEX is participating in this well by acquiring up to 8% of the working interest.
Winnemucca Gold Property:
The Winnemucca Mountain Gold and Silver Property consists of a total 138 unpatented mineral claims, covering over 2,600 acres in Humboldt County, in northwestern Nevada. Humboldt County is the second largest gold producing county in the United States and hosts numerous past and producing gold mines, including the Getchell (Barrick/Newmont), Marigold (Goldcorp), Lone Tree (Newmont), and Twin Creeks (Newmont). The Property is located near the northern end of the highly productive Battle Mountain-Eureka mineral trend.
Recent exploration by NMEX including geologic mapping, rock sampling, and a CSAMT geophysical survey has identified a series of steeply dipping quartz veins and outcrops which appear to be associated with a major NNE trending structure correlating with the mapped vein system. The zone is offset by a series of sub parallel structures that are several hundred feet wide and 3,000-5,000 feet in length in the Swordfish Target area on the Property
Review of the results from historical exploration, in correlation with recent work is currently underway by NMEX with the focus of defining drill targets to further evaluate the potential for mining of the Winnemucca Mountain gold and silver Property.
For further information on the Winnemucca Mountain Gold and Silver Property please go to:
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About NMEX:
Northern Minerals & Exploration (“NMEX”) is an emerging publicly traded company focused on oil and gas exploration & production in Texas, gold & silver exploration in Nevada & real estate development projects in Mexico.
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Contact: Noel Schaefer
Phone: 801-885-9260
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Forward Looking Statements:
Statements which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers’ preferences and trends. The words “estimate,” “possible,” “seeking,” and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. The information herein is subject to change without notice. Northern Minerals & Exploration Ltd. shall not be liable for technical or editorial errors or omissions contained herein. This article highlights key provisions in the 500-page tax reform bill. It is not a comprehensive explanation of changes to the tax code, nor is it intended for use as tax guidance or advice. Readers should consult with a qualified tax professional on how this new law affects their interests.
