VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2012) - Northern Lion Gold Corp. (the "Company" or "Northern Lion") (TSX VENTURE:NL)(FRANKFURT:N3E) announces that rotary drilling has encountered gold bearing massive sulphides at Pano Lefkara and geophysical targets have been identified from the interpretation of an airborne survey flown over two areas of western Cyprus. These results and targets warrant a follow up drill program.
Two rotary drill holes have been completed at the Pano Lefkara permit with gold bearing massive sulphide mineralization being encountered. The Company utilizes the rotary drill as a prospecting tool to aid in outlining the lateral extent and the level of mineralization of buried targets. Both drill holes encountered massive sulfide mineralization; however due to possible down-hole contamination only the first samples are reported:
|PLRD12-01 - 3 metres of 4.98 g/t gold, 29.60 g/t silver, 3.75% copper, 2.47% zinc.|
|PLRD12-02 - 3 metres of 1.98 g/t gold, 10.80 g/t silver, 0.67% copper, 1.45% zinc.|
Estimated thickness of the zones range between 8 and 27 metres based on visual estimates of the rotary drill chips.
Previous exploration work at Pano Lefkara by the Company returned rock chip sample lines of 41 metres averaging 3.47 g/t gold, 25 metres averaging 1.10 g/t gold, and 24.5 metres averaging 1.06 g/t gold (reported April 25, 2012). The Company also has plans to drill the Tourounja prospect on the Kato Lefkara permit, where a rock chip sample from a gossan returned 31.5 metres averaging 3.08 g/t gold (reported April 25, 2012).
The geophysical anomalies were interpreted by Condor Consulting Inc. The survey was flown by Geotech Airborne Malta, Ltd. and consisted of a Versatile Time-Domain Electromagnetic ("VTEM") and aeromagnetics survey and was designed to identify buried massive sulphide targets in underexplored areas of western Cyprus (reported February 7, 2012).
The survey has identified high priority targets in two areas of the geophysical survey. The Lysos target area hosts a cluster of seven anomalies, where the largest anomaly covers an area over 3.2 kilometres long. The geology of this area includes discrete outcrops of limestone which can be associated with paleobasins that form above compacting massive sulphide mounds. This is similar to what occurred at the past producing Kynousa Mine and also at the largest operating mine in Cyprus, Skouriotissa. The Kynousa target is located in an area of historic copper production and also contains limestone outcrops. The results of the airborne program are available on the Company's website at www.northernliongold.com.
The Company's field activities in Cyprus are under the direction of Robert Johnston, P.Geo. (BC), and "qualified person", as defined by National Instrument 43-101. Mr. Johnston is responsible for the technical content of this news release.
About Northern Lion
Northern Lion is committed to building a strong portfolio of projects within mining-friendly and infrastructure-rich areas of Europe. Northern Lion currently controls over 60 km2 of exploration permits in the Republic of Cyprus and is actively pursuing other opportunities within the region.
NORTHERN LION GOLD CORP.
John Lando, President
This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, the success of exploration activities and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and, except as required by law, the Company is under no obligation to update or alter any forward-looking information.