Northern Lion Suspends Exploration Activities, Republic of Cyprus

About this update from Northern Lion Gold Corp.

[{"type":"text","content":"Northern Lion Suspends Exploration Activities, Republic of Cyprus(via Thenewswire.ca)\n \n \nVancouver, British Columbia / TNW-ACCESSWIRE / October 15, 2014 / Northern Lion Gold Corp. (the \"Company\") announces that it has received notice from its joint venture partner, Centerra Gold (KB) Inc., a subsidiary of Centerra Gold Inc. (collectively \"Centerra\"), that Centerra is terminating the previously announced option agreement (reported April 4, 2013). Pursuant to the option agreement, Centerra had an option to earn up to 70% interest in a number of the Company's exploration permits located in the Larnaca and Paphos Districts of the Republic of Cyprus by paying US$100,000 (paid) and incurring an aggregate of US$6,000,000 in exploration expenditures. \n\n\n \n\n\n\n \nCenterra completed a drill program (reported January 22, 2014), surface exploration program (reported June 21, 2014), follow-up drill program (reported July 7, 2014) and advised the Company of its termination of the option agreement. Centerra commented: \"Unfortunately, after some promising results last year, the drilling this year failed to provide any further encouragement and, as the majority of the targets of interest to us have now been tested, we have made the decision to terminate the Option Agreement.\"\n\n \n \nDrilling Update\n\n \n \nThe 2014 drill program commenced on June 27, 2014 and concluded on August 22, 2014. A total of 1,659.5 metres were drilled in ten holes; nine in the Mavroyi area and the final hole at the Saramas target, 1.5 kilometres to the northwest. The work was contracted to GEOPS-Bolkan Drilling Services Ltd of Bulgaria, who used a Christenson CS-14 drill. \n\n \n \nInitial hole targeting was focused mainly on geophysical results from the 2014 Induced Polarization and gravity surveys at Mavroyi (reported June 12, 2014) and reinterpretations of earlier work, most notably the 2011 airborne Versatile Time-Domain Electromagnetic survey (\"VTEM\") program (reported February 7, 2012). Highest priority was given to testing a number of coincident magnetic/gravity +/- chargeability/VTEM anomalies east of the Mavroyi alteration zone and near to the main Basal Group outcrop. These geophysical anomalies were interpreted to represent possible Volcanogenic Hosted Massive Sulphide (\"VHMS\") accumulations, which were potentially the source of the VHM...

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