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North Country Gold Corp
Symbol NCG
Shares Issued 121,813,562
Close 2014-07-02 C$ 0.075
Market Cap C$ 9,136,017
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North Country to prepare for Three Bluffs PEA

2014-07-02 09:34 ET - News Release

Mr. John Williamson reports

NCG OUTLINES STRATEGY AND 2014 WORK PLAN

North Country Gold Corp. has released the company's 2014 work plan, in conjunction with a near-term strategy centred on underground exploration, bulk sampling and focused drilling designed to accelerate future project development at its flagship Three Bluffs gold deposit.

"Our work strategy, derived from ongoing geological analysis and the results of the high-level trade-off and logistical studies announced Jan. 22, 2014, is focused on cost-effective activities which we believe will move the project towards our ultimate goal of becoming Nunavut's next gold producer," stated Brian Budd, president of North Country Gold. "We believe the value of the Three Bluffs project lies within what we have already discovered and that by focusing our efforts on understanding the geology and demonstrating the quality of the known mineralization we can better deliver on our mandate," added Mr. Budd.

2014 plan:

  1. Advance the project toward preparation of a possible preliminary economic assessment;
  2. Geotechnical, acid-base accounting, engineering and logistical work to support bulk sample permit applications;
  3. Focused drill program targeting the high-grade hinge area slated for initial underground exploration.

2015-2016 plan:

  1. Initiate bulk sampling program;
  2. Drill testing for potential resource extensions, new mineralized structures and regional satellite targets;
  3. Environmental and engineering baseline studies.

The 2014 work program will revolve around activities required to obtain the necessary information to prepare for and obtain the required permits to allow the company to initiate a two-year underground exploration and bulk sampling of the Three Bluffs gold project planned in conjunction with focused drilling targeted at further delineating high-grade mineralized structures identified to date. The company also plans to implement strategies to realize the potential of other assets within its property portfolio across the remainder of the Committee Bay belt.

Three Bluffs gold deposit

The Three Bluffs gold project is a structurally controlled lode gold system hosted within oxide facies iron formation and greywackes. The deposit currently hosts a resource of 4.30 million tonnes at 4.91 grams per tonne gold for 683,000 ounces gold (indicated) and 5.52 million tonnes at 5.43 grams per tonne gold for 965,000 ounces gold (inferred) (see press release dated April 23, 2013). To date, Three Bluffs has been drill tested along a strike length of 4.1 kilometres to depths of 500 metres below surface with gold mineralization persisting to depth where the company has identified additional mineral potential(i) comprising 4.5 million to 7.5 million tonnes grading between 3.8 grams per tonne and 7.3 grams per tonne gold (see press release date April 23, 2013).

(i) Estimates of the potential quantity and grade of additional mineral potential at Three Bluffs are conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

We seek Safe Harbor.

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