Northern Vertex Mining Corp. has reached a deal with existing shareholder Greenstone Resources for an unsecured working capital facility of up to US$10 million.
The extended plan increases the mine life by two years, raising production to 372,000 oz. gold per year and all-in sustaining costs to US$703 oz. gold per year.
Red Mountain stands between the Cambria Icefield and its largest outlet, the Bromley Glacier. From the nearby town of Stewart, it is a 10-minute helicopter ride.
The Valentine Lake project is made up of four open-pittable deposits: Marathon, Leprechaun, Victory and Sprite, but Marathon and Leprechaun contain the vast majority of the gold.
