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34m @ 2.5 grams per tonne ("g/t") gold equivalent ("AuEq."), including 12m @ 3.5 g/t AuEq. from 323m downhole in OEDD-104.
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AuKing Mining
Investor Insight
With a portfolio of advanced stage exploration assets in the uranium, critical minerals and base metals space, AuKing Mining is poised to execute and accomplish its goals of becoming a mid-tier producer, creating significant shareholder value.
Overview
AuKing Mining (ASX:AKN) is an exploration and development company with a portfolio of exploration assets focused on uranium, copper and critical minerals, in Western Australia, Tanzania and British Columbia, Canada. The company aims to become a mid-tier copper, uranium and critical metals producer through the acquisition and development of near-term production assets.
AuKing’s portfolio of assets includes the Koongie Park copper-zinc project in Western Australia, the Mkuju uranium project in Tanzania, and the recently acquired Myoff Creek niobium-REE project in British Columbia, Canada.
AuKing has acquired the uranium bearing mineral claim known as the Grand Codroy uranium project approximately 50 km north of Port aux Basque, Newfoundland. Grand Cordroy spans 2,200 hectares and hosts several documented uranium occurrences located along a major radiometric high.
The company is led by an experienced management and board of directors supporting and executing on the company’s strategic goals of becoming a mid-tier producer through its diverse project portfolio.
Company Highlights
- AuKing Mining is an exploration and development company with a portfolio of exploration assets focused on uranium, copper and critical minerals.
- The company holds a diverse portfolio of advanced exploration assets in Western (Koongie Park), Tanzania (Mkuju) and British Columbia, Canada (Myoff Creek)
- Koongie Park has a mineral resource estimate totalling 21.1 Mt across three well-explored deposits - Onedin, Sandiego and Emull.
- AuKing Mining has completed the purchase of the Grand Codroy uranium exploration project in Newfoundland, Canada.
- AuKing is led by a highly experienced management team executing the company’s strategies to increase shareholder value.
Key Projects
Mkuju Uranium Project (Tanzania)
Mkuju is situated immediately to the southeast of the world class Nyota uranium project that was the primary focus of exploration and development feasibility studies by then ASX-listed Mantra Resources Limited (ASX:MRU). Not long after completion of feasibility studies for Nyota in early 2011, MRU announced a AU$1.16 billion takeover offer from the Russian group ARMZ. The takeover was finalised in mid-2011.
During the latter part of 2023, AuKing Mining completed a Stage 1 exploration program at Mkuju which comprised a combination of rock chip, soil geochemistry sampling, shallow auger drilling and initial diamond drilling. Some very encouraging results were obtained from this program which have formed the basis for a proposed 11,000m drilling program that is about to commence at Mkuju. Results included:
Auger drilling:
MKAU23_020 3m @ 1,273ppm U3O8 incl 1m @ 3,350ppm U3O8
MKAU23_045 3m @ 250ppm U3O8 incl 1m @ 410ppm U3O8
Soil samples:
MKGS006 510ppm U3O8
MKGS017 8,800ppm U3O8
MKGS056 960ppm U3O8
Rock chip samples:
MKGS056 2,250ppm
MKGS057 800ppm U3O8
Mkuju project location
Myoff Creek Niobium-REE Project (British Columbia, Canada)
In July 2024, AuKing Mining completed the acquisition of the Myoff Creek niobium/REE project in British Columbia, Canada, known for its rich mineral deposits. The site offers excellent accessibility with well-maintained road infrastructure. The project highlights near-surface carbonatite mineralization that spans an area of 1.4 km by 0.4 km with high-grade historic drilling intercepts that include 0.93 percent niobium and 2.06 percent total rare earth oxides.
There is significant potential to expand the current target area as it remains open at depth and along strike.
HERE AuKing’s exploration team has completed a recent site visit to Myoff Creek and have identified the need for a detailed airborne radiometric survey to be undertaken across the tenure area. This survey is expected to commence in Q4 of 2024 and will include coverage of the area where historical drilling identified significant niobium/REE results – thereby providing a “marker” for potential mineralization across the rest of the Myoff Creek area.
Koongie Park Copper-Zinc Project
Koongie Park project lies within the highly mineralized Halls Creek Mobile Belt. The area also hosts the Savannah (Sally Malay) and Copernicus nickel projects, the former Argyle diamond mine and the Nicolsons gold mining operation of Pantoro Limited. Koongie Park is located about 25 kms southwest of the regional centre of Halls Creek on the Great Northern Highway in northeastern Western Australia.
AuKing owns 100 percent interest (subject to a 1 percent net smelter royalty) in Koongie Park and has received significant historical exploration and drilling since the 1970s. The project contains three deposits of note: Onedin and Sandiego copper-zinc-gold deposits, and the Emull copper deposit.
Onedin and Sandiego are both in advanced exploration stages with a total mineral resource estimate of 4.8 Mt and 4.1 Mt, respectively, containing copper, zinc, gold, silver and lead. The Sandiego prospect boasts a scoping study (released in June 2023) that highlights an 11-year life of mine with a processing capacity of 750 ktpa and pre-production capex of $135 million for a 2.5 year payback. Economics highlight a pre-tax NPV of $177 million and 40 percent IRR.
Koongie Park and neighboring project holdings
The Emull base metal deposit has received significant drilling by previous owner Northern Star Resources several years ago and subsequently by AuKing in 2022. The deposit has a maiden resource estimate of 12.2 Mt, containing copper, zinc, lead and silver, with significant upside potential as more drilling is performed.
Grand Codroy Uranium Project
The Grand Codroy uranium project covers 2,200 hectares with the presence of several documented uranium occurrences located along a major radiometric high. The property is approximately 50 km north of Port aux Basque, Newfoundland.
Project Highlights:
- Uranium Mineralisation: Uranium mineralisation within extensive, organic-rich siliciclastic rocks is similar to sandstone-hosted uranium districts in the western United States.
- High Grade Samples: Notable high-grade historical rock samples including:
- Grand Codroy River #6 (Sample 153) - >20,000ppm (2 percent) Cu and 435ppm U
(Sample 3522) - >20,000ppm (2 percent) Cu and 400ppm U - Grand Codroy River #4 – 22,000ppm (2.2 percent) U
- Overfall Brook – 595ppm U
(Source – Newfoundland Labrador Dept of Industry, Energy and Technology)
- Grand Codroy River #6 (Sample 153) - >20,000ppm (2 percent) Cu and 435ppm U
- Significant Exploration Potential: Grand Codroy tenure area largely untouched by modern exploration. Note the impressive results being reported by Infini Resources Limited (ASX:I88) at its Portland Creek uranium project, to the north of Grand Codroy in western Newfoundland.
- Strategic Location: The mineral claim is strategically situated approximately 50 km north of Port aux Basque, Newfoundland.
- Excellent Accessibility: The site offers excellent accessibility with well-maintained road infrastructure leading directly to the area.
- Capital Raising: Placement of $130,000 to sophisticated investors with Melbourne's boutique Peak Asset Management leading the Placement, together with upcoming entitlement offer to existing shareholders.
Board and Management Team
Peter Tighe – Non-executive Chairman
Peter Tighe started his career in the family-owned JH Leavy & Co business, which is one of the longest established fruit and vegetable wholesaling businesses in the Brisbane Markets at Rocklea. As the owner and managing director of JH Leavy & Co, Tighe expanded the company along with highly respected farms and packhouses that have been pleased to supply the company with top quality fruit and vegetables for wholesale/export for over 40 years. Tighe has been a director of Brisbane Markets Limited (BML) since 1999 and is currently the deputy chairman. BML is the owner of the Brisbane Markets site and is responsible for the ongoing management and development of its $400 million asset portfolio. As the proprietor of the site, BML has over 250 leases in place including selling floors, industrial warehousing, retail stores and commercial offices. BML acknowledges its role as an economic hub of Queensland, facilitating the trade of $1.5 billion worth of fresh produce annually, and supporting local and regional businesses of the horticulture industry.
Tighe (with his wife Patty) owns Magic Bloodstock Racing (MBR), a thoroughbred horse racing and breeding company. MBR has acquired many horses which are trained and raced across Australia and around the world including “Winx”, one of the greatest thoroughbreds of all time winning more than $26 million in prize money.
Paul Williams – Managing Director
Paul Williams holds both Bachelor of Arts and Law Degrees from the University of Queensland and practised as a corporate and commercial lawyer with Brisbane legal firm HopgoodGanim Lawyers for 17 years. He ultimately became an equity partner of HopgoodGanim Lawyers before joining Eastern Corporation as their chief executive officer in August 2004. In mid-2006, Williams joined Mitsui Coal Holdings as general counsel, participating in the supervision of the coal mining interests and business development activities within the multinational Mitsui & Co group. Williams is well-known in the Brisbane investment community as well as in Sydney and Melbourne and brings to the AKN board a broad range of commercial and legal expertise – especially in the context of mining and exploration activities. He also has a strong focus on corporate governance and the importance of clear and open communication of corporate activity to the investment markets.
ShiZhou Yin – Non-executive Director
ShiZhou Yin holds a Master of Professional Accounting degree and is a Chinese-certified public accountant and a senior accountant. From September 1994 to September 2010, Yin served successively as accountant of Beijing No. 2 Water Pipe Factory, audit manager and audit partner of Yuehua Certified Public Accountants Firm, and senior partner of Zhongrui Yuehua Certified Public Accountants Co.
From April 2017 to the present time, Yin has been vice-president, chief financial officer and secretary of the board of JCHX Group Co..
Yin has also been the chairman of the board of supervisors of JCHX Mining Management Co. (Shanghai Stock Exchange Code: 603979) since May 2017. JCHX Mining Management is one of China’s largest mining services companies with operations around the world and has a share market capitalization of approx. US$5 billion.
Chris Bittar – Exploration Manager (MGeoSc, MComm (Finance), BMSc)
Chris Bittar was previously senior project geologist at Pantoro Limited’s Norseman Project in Western Australia, where he supervised the planning and execution of near-mine exploration and resource development programs as part of the Definitive Feasibility Study program at Norseman.
Prior to his Pantoro role, Bittar held senior geologist roles with Millennium Minerals (Nullagine Gold project) and Pilbara Minerals (Pilgangoora Lithium project), and exploration geologist roles with Sumitomo Metal Mining Oceania and Northern Minerals (Browns Range rare earths project in WA). In these roles, Bittar gained extensive experience in taking projects from greenfield exploration to resource development and up to mine-ready feasibility study stage. This experience included supervision of multiple drilling campaigns, geological interpretation, data management and project reporting. Bittar has also maintained a strong commitment to company safety policies and procedures.
Paul Marshall – Chief Financial Officer and Company Secretary
Paul Marshall is a chartered accountant with a Bachelor of Law degree, and a post Graduate Diploma in Accounting and Finance. He has 30 years of professional experience having worked for Ernst and Young for 10 years, and subsequently twenty years spent in commercial roles as company secretary and CFO for a number of listed and unlisted companies mainly in the resources sector. Marshall has extensive experience in all aspects of company financial reporting, corporate regulatory and governance areas, business acquisition and disposal due diligence, capital raising and company listings and company secretarial responsibilities.
Awalé Hits 2.5 g/t Gold Eq. over 34 Metres at the BBM Zone, Odienné Project
29m @ 1.2 g/t AuEq., including 14m @ 1.8 g/t AuEq. from 82m downhole in OEDD-103.
Drilling continues to demonstrate excellent continuity over significant width and gold tenor at BBM.
With the success of drilling results, the Company has increased the drill program at BBM from 3000m to 7000m.
Drilling at Charger is progressing to plan, with drilling at Empire to follow suit.
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to report results from the first two diamond drill holes completed as part of an expanded drill campaign targeting the BBM zone at the Odienné Project in Côte d'Ivoire. The drill program, which began in November 2024, is ongoing, with five holes remaining in the extended campaign. These initial holes were drilled within the previously reported central mineralized zone, where the Company is tightening drill spacing to a 100m grid (refer to drill plan and sections).
"We are excited to report additional excellent results from the BBM target, confirming the robust nature of mineralization at BBM. We are seeing a remarkable consistency in width and grade in this drilling, consistent with those previously reported in the core zone at BBM. These results underscore the potential of this zone.
We are also pleased to announce that the expanded step-out diamond drilling is near completion at BBM. This drilling is focused on expanding the 600m core zone along strike to the southeast and northwest where we believe there is potential to expand the size of BBM. The success of this program has led to an extension beyond the initial 3000m plan, with over 5400m now completed in 19 holes, with 4 holes to be drilled. The deployment of two diamond drill rigs has enabled us to not only advance BBM but also commence drilling at the Charger target. We are also bringing the Empire target back into the exploration pipeline as part of this program. In addition to these diamond drilling advancements, we are actively progressing with the IP geophysics program, with RC drilling set to commence in the coming weeks. This increased level of activity is expected to deliver a steady stream of results to the market throughout this quarter and beyond," Commented Andrew Chubb, CEO of Awalé Resources.
View Video of CEO Andrew Chubb Discussing Results
The Company has expanded the BBM program, completing 5404m of drilling across 19 holes and one re-entry hole. Initial drilling focused on testing continuity within the core of the BBM zone, tightening drill spacing to a 100m grid. Beyond this, drilling has targeted extensions to the defined 600m panel to both the northwest and southeast. Additionally, drilling has commenced at the Charger target, with an initial 1000m planned to validate the new geological fold model, which suggests that broad, high-grade intercepts are concentrated within fold hinges, providing an opportunity to rapidly assess the volume potential of this target.
Drill collar locations and full table of significant intercepts for the program are provided in Table 1 and Table 2 below.
Table 1: BBM Drilling Collar Cable - (from this program)
| HOLE ID | EASTING | NORTHING | RL_M | AZIM_TRUE | DIP | EOH_M | Comments |
| OEDD0103 | 655899 | 1048090 | 450 | 35.00 | -55.00 | 197.43 | Not DGPS |
| OEDD0104 | 655737 | 1048029 | 450 | 35.00 | -55.00 | 452.3 | Not DGPS |
Table 2: Significant Intercepts - (from this program)
| Hole | From (m) | To (m) | Width (m) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) | AuEq. (80%) | Comp. Trigger (g/t) |
| OEDD0103 | 82 | 111 | 29 | 1.1 | 0.17 | 0.6 | 191 | 1.2 | 0.5 |
| including | 93 | 107 | 14 | 1.7 | 0.25 | 0.9 | 312 | 1.8 | 1.0 |
| and | 99 | 101 | 2 | 3.6 | 0.33 | 1.5 | 103 | 3.3 | 2.0 |
| and | 106 | 107 | 1 | 3.7 | 0.34 | 1.2 | 425 | 3.5 | 2.0 |
| OEDD0104 | 312 | 319 | 7 | 1.6 | 0.13 | 0.7 | 261 | 1.5 | 0.5 |
| Including | 317 | 319 | 2 | 4.0 | 0.20 | 1.0 | 614 | 3.7 | 2.0 |
| OEDD0104 | 323 | 357 | 34 | 1.9 | 0.64 | 2.9 | 416 | 2.5 | 0.5 |
| Including | 326 | 338 | 12 | 2.8 | 0.84 | 3.8 | 704 | 3.5 | 2.0 |
| and | 351 | 354 | 3 | 3.2 | 0.58 | 5.3 | 196 | 3.3 | 2.0 |
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d'Ivoire, where the Company is focused on the Odienné Copper-Gold Project ("Odienné" or the "Project"), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited ("Newmont").
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.
The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent ALS Laboratories in Ghana and Ireland, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by ALS from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Ireland where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.
Mineralized Interval Calculations
Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the BBM target, initial mineralized zones are calculated at a 0.2 g/t trigger and include up to 5 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 0.5 g/t, 1 g/t, and 2 g/t trigger values, with up to 3 metres of internal waste. Table 1 contains a list of all BBM holes reported in this release. True widths are estimated to be 70% of the downhole widths.
Au Equivalent Calculations
Au Equivalent is calculated using the following parameters in USD: Au - 1910/Oz (Troy), Cu 3.80/lb, Mo 40,000/Tonne, and Ag 23.40/Oz (Troy). The Formula AuEq = Au (g/t) + ((Cu (ppm) * 0.00014) + (Mo (ppm) * 0.00065) + (Ag (g/t)*0.01225)). An 80% metallurgical recovery is assumed for all metals, as the specific recovery rates for individual metals are unclear, and assuming different recoveries would be premature at this stage.
Abbreviations Used in this Release
| Ag | Silver | |
| Au | Gold | |
| AuEq. | Gold Equivalent | |
| Cu | Copper | |
| Cu Eq. | Copper Equivalent | |
| g/t | Grams per tonne | |
| km | Kilometres | |
| m | Metres | |
| ppm | Parts per million |
Qualified Person
The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company's Qualified Person as defined by National Instrument 43-101. Mr. Chubb is the Company's Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
AWALÉ Resources Limited
On behalf of the Board of Directors
"Andrew Chubb"
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
a.keshishian@awaleresources.com
The Company's public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238800
News Provided by Newsfile via QuoteMedia
Cygnus Metals Limited Clarification Announcement
-
Cygnus Metals Limited (ASX: CY5; TSXV: CYG) ("Cygnus" or the "Company") refers to its announcement titled "Cygnus increases highly prospective, under-explored ground position by 50%" released to ASX on 9 January 2025 ("First Announcement") and its announcement titled "Cygnus' first drill hole returns up to 9.1% Cu outside Resource" released to ASX on 23 January 2025 ("Second Announcement").
Clarifications regarding First Announcement
In discussions with the Company subsequent to the release of the First Announcement, the Australian Securities Exchange ("ASX") has requested the below:
- Clarification regarding the assumptions used in the copper metal equivalents calculations provided by Cygnus on the NI 43-101 compliant Foreign Mineral Resource Estimate for the Chibougamau Project in the First Announcement; and
- Further information regarding metallurgical test work completed to support the Company's metallurgical recovery assumptions provided in this clarification announcement.
The Company wishes to provide further information on these assumptions and the metallurgical test work previously completed by Doré Copper Mining Corp ("Doré"), but emphasises that the clarification does not affect the Foreign Mineral Resource Estimate or the Copper Equivalent ("CuEq") figures as set out in Appendix A of the First Announcement and as first disclosed by the Company on 15 October 2024.
Note 6 of Appendix A on page 6 of the First Announcement is replaced with the following ("First Clarification"):
"Metal equivalents for the foreign estimate have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz. Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.77258). Metallurgical recovery factors have been applied to the copper equivalents calculation, with copper metallurgical recovery assumed at 95% and gold metallurgical recovery assumed at 85% based upon historical production at the Chibougamau Processing Facility and more recent metallurgical test work. It is the Company's view that all elements in the copper equivalent calculations have a reasonable potential to be recovered and sold."
The Company confirms that the Foreign Mineral Resource Estimate and metal equivalents calculation do not contain any other metals, including silver. In fact, the inclusion of silver represents a further opportunity for the Company and will be reviewed in future work.
Other than the First Clarification above, there are no changes to the First Announcement.
In support of the First Clarification, attached to this announcement are the results of metallurgical test work previously completed by Doré.
Clarifications regarding Second Announcement
In discussions with the Company subsequent to the release of the Second Announcement, the ASX has requested that the Company provide further information regarding two of the three electromagnetic ("EM") plates referred to in Figures 1 and 2 of the Second Announcement in accordance with ASX Listing Rules 5.6 and 5.7.
The Company wishes to note that the two additional untested EM plates to the south of the new EM plate referred to in the Second Announcement were identified from geophysics programs conducted by previous owners of the Chibougamau Project and provides the additional information set out in the Appendix to this clarification announcement ("Second Clarification").
A fixed loop EM ("FLEM") survey was conducted in 2007 by Crone Geophysics for Novawest Resources. Results from this survey, which Southern Geoscience Consultants ("SGC") has reprocessed for Cygnus, highlighted a conductor to the south of the Corner Bay deposit. A downhole EM ("DHEM") survey was conducted by Doré in 2021 on drillhole CB-21-93. The survey, which SGC has reprocessed for Cygnus, highlighted a further conductor to the south of the Corner Bay deposit.
Other than the Second Clarification, there are no changes to the Second Announcement.
This announcement has been authorised for release by the Board of Directors of Cygnus.
| David Southam Managing Director T: +61 8 6118 1627 E: info@cygnusmetals.com | Ernest Mast President & Managing Director T: +1 647 921 0501 E: info@cygnusmetals.com | Media: Paul Armstrong Read Corporate +61 8 9388 1474 |
About Cygnus Metals
Cygnus Metals Limited (ASX: CY5, TSXV: CYG) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.
Qualified Persons and Compliance Statements
The scientific and technical information relating to metal equivalents in this news release has been reviewed and approved by Ms Laurence Huss, the Quebec In-Country Manager of Cygnus, a "qualified person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Company first announced the foreign estimate of mineralisation for the Chibougamau Project on 15 October 2024. The Company confirms that the supporting information included in the announcement of 15 October 2024 continues to apply other than in respect of the Clarification, and (notwithstanding the Clarification) has not materially changed.
Cygnus confirms that (notwithstanding the Clarification) it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original announcement continue to apply and have not materially changed. Cygnus confirms that it is not in possession of any new information or data that materially impacts on the reliability of the estimates or Cygnus' ability to verify the foreign estimates as mineral resources in accordance with the JORC Code. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original market announcement.
The scientific and technical information relating to exploration results in this news release has been reviewed and approved by Mr Louis Beaupre, the Quebec Exploration Manager of Cygnus, a "qualified person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Exploration Results disclosed in this announcement are based on and fairly represent information and supporting documentation compiled by Mr Beaupre. Mr Beaupre holds options in Cygnus. Mr Beaupre is a member of the Ordre des ingenieurs du Quebec (P Eng), a Registered Overseas Professional Organisation as defined in the ASX Listing Rules, and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Beaupre consents to the inclusion in this release of the matters based on the information in the form and context in which they appear.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Appendix – Second Clarification
Section 1 (Sampling Techniques and Data) and Section 2 (Reporting of Exploration Results) of Appendix C (2012 JORC Table 1) of the Second Announcement are deleted and replaced as follows:
Section 1 Sampling Techniques and Data
| Criteria | JORC Code explanation | Commentary |
| Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. |
|
| Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. |
| |
| Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard' work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. |
| |
| Drilling techniques | Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
|
| Drill sample recovery | Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
|
| Logging | Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. |
|
| Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. |
| |
| The total length and percentage of the relevant intersections logged. |
| |
| Sub-sampling techniques and sample preparation | If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. |
|
| Quality of assay data and laboratory tests | The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. |
|
| For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. |
| |
| Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. |
| |
| Verification of sampling and assaying | The verification of significant intersections by either independent or alternative company personnel. |
|
| The use of twinned holes. |
| |
| Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. |
| |
| Discuss any adjustment to assay data. |
| |
| Location of data points | Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. |
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| Specification of the grid system used. |
| |
| Quality and adequacy of topographic control. |
| |
| Data spacing and distribution | Data spacing for reporting of Exploration Results. |
|
| Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. |
| |
| Whether sample compositing has been applied. |
| |
| Orientation of data in relation to geological structure | Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. |
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| If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
| |
| Sample security | The measures taken to ensure sample security. |
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| Audits or reviews | The results of any audits or reviews of sampling techniques and data. |
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Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | JORC Code Explanation | Commentary |
| Mineral tenement and land tenure status | Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. |
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| The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
| |
| Exploration done by other parties | Acknowledgment and appraisal of exploration by other parties. |
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| Geology | Deposit type, geological setting and style of mineralisation. |
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| Drill hole Information | A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
|
|
| Data aggregation methods | In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. |
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| Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. |
| |
| The assumptions used for any reporting of metal equivalent values should be clearly stated. |
| |
| Relationship between mineralisation widths and intercept lengths | These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known'). |
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| Diagrams | Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
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| Balanced reporting | Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
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| Other substantive exploration data | Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
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| Further work | The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
|
Image 1 below shows DHEM loop on CB-24-100
Image 2 below shows DHEM loop on CB-21-93 (red outline illustrates the EM loop and white line the location of drillhole CB-21-93)
Image 3 below illustrating loop and planned survey lines from 2007 FLEM (blues lines illustrate the planned survey lines for the anomaly outlined in the announcement)
Chibougamau Copper-Gold Project, Canada
Flotation copper recoveries of
up to 98.2% at Corner Bay
Metallurgical test work conducted at the Chibougamau Project indicates a high-quality clean concentrate with low impurities from the Corner Bay flagship asset
HIGHLIGHTS:
- Metallurgical test work at Corner Bay demonstrates:
- Copper recoveries of 98.2% and 96.8% from a sample from an ore sorting test
- High-quality copper concentrate grades results of 27.0% and 29.6%
- Clean concentrate with minimal deleterious elements
- Corner Bay is the flagship asset at the Chibougamau Project with an Indicated Mineral Resources of 2.7Mt at 2.9% CuEq and Inferred Mineral Resources of 5.9Mt at 3.6% CuEq 1
- Metallurgical test work is being conducted as part of the ongoing study work at the Chibougamau Project
- Test work includes locked cycle flotation tests that approximate a future flowsheet
- The Chibougamau Project has excellent infrastructure with a 900,000tpa processing facility, local mining town, sealed highway, airport, regional rail infrastructure and 25kV hydro power to the processing site.
________________
1 The Mineral Resource Estimate at the Chibougamau Project is a foreign estimate prepared in accordance with CIM Standards. A competent person has not done sufficient work to classify the foreign estimate as a mineral resource in accordance with the JORC Code, and it is uncertain whether further evaluation and exploration will result in an estimate reportable under the JORC Code.
| Cygnus Executive Chairman, David Southam said: "The results demonstrate the viability of the project as we continue along our dual track exploration and development pathway with high recoveries and a clean high grade concentrate". |
Cygnus Metals Limited (ASX: CY5; TSXV: CYG) ("Cygnus" or the "Company") is pleased to announce positive flotation test results at its flagship Corner Bay deposit within the Chibougamau Copper-Gold Project in Quebec, Canada.
The results have been released in connection with a response to a query from ASX concerning the basis on which Cygnus announced metal equivalent grades in an announcement dated 9 January 2025, which referred to its NI 43-101 compliant Foreign Mineral Resource Estimate for the Chibougamau Project ("Announcement"). The results of the metallurgical test program contained in this announcement have been considered by the Company in informing the metallurgical recovery rates contained in the Announcement and subsequent clarification announcement dated 28 January 2025. When Cygnus first disclosed the acquisition of Doré Copper Mining Corp on 15 October 2024, it did not consider that the metallurgical test-work was a material exploration result. Following queries from ASX, the Company has considered that the metallurgical test work contained in this announcement is information that is necessary to support the assumptions made about metal recoveries in Cygnus' copper equivalent statement in the Announcement.
This metallurgical test program conducted by Doré Copper Mining Corp. in 2023 was part of work designed to support ongoing study work at the Chibougamau Project.
The results demonstrate copper recoveries of 98.2% and 96.8% from a representative composite sample and high-quality copper concentrate grades results of 27.0% and 29.6%.
These results were previously released by Doré Copper Mining Corporation on October 30, 2023.
Latest Metallurgical Test Work Program Summary
Base Metallurgical Laboratories in Kamloops, British Columbia was commissioned to complete Corner Bay metallurgical development and locked cycle flotation testing in support of ongoing study work.
A total of 34 diamond drill core were used to create a spatially diverse composite sample that intersected copper mineralized zones within the Corner Bay Foreign Mineral Resource Estimate. The core material selected represented different rock types: semi and massive sulphides, quartz veins, diorite dyke, and fresh and altered anorthosite (refer to Figures 1 and 2 in Appendix C). The drill core was sampled by cutting a quarter split NQ core. The longer pieces of quarter split core were further manually broken down into 1 to 3 inches length to simulate a crushed product. The composite sample weighted 202 kg and graded 2.20% Cu and included an 18% external mining dilution from the hanging wall and foot wall of the mineralized interval.
The composite sample was then processed through the Steinert ore sorter and mixed with 26% of the unsorted underflow by-passed mineralized material to represent an overall sorted pre-concentrate mineralized material product (refer to Figure 4 in Appendix C). The composite resulted in a 123 kilogram sample with a grade of 3.31% Cu.
The resulting composite sample was evaluated through lock cycle tests to determine the flotation metallurgical performance (refer to Figure 4 in Appendix C). The sample was prepared to a nominal grind size of 140 microns K80 in the rougher testing and then processed through a regrind size of approximately 37 microns K80 in the cleaner tests.
The sample responded consistently throughout the test work with excellent performance to conventional flotation processing methods and reagents. Two locked cycle tests were completed with varying retention times to determine the concentrate grade versus recovery. The tests resulted in concentrate grades of 27.0% Cu and 29.6% Cu and recoveries 98.2% and 96.8%, respectively (refer to Table 1 below).
Minimal amounts of deleterious elements (e.g. arsenic, antimony, bismuth, cadmium etc.) were present in the concentrate, indicative of the "clean" nature of the concentrate (refer to Table 2 below). These results showed the highly commercial quality of the concentrate in terms of salability and payment terms of smelters.
| Composite / Test | Lock cycle test feed | Concentrate | Recovery | ||||||
| CBSP (sorted mineralized material) | Cu % | Au g/t | Ag g/t | Cu % | Au g/t | Ag g/t | Cu % | Au % | Ag % |
| Lock Cycle Test 1 | 3.31 | 0.30 | 9 | 27 | 1.82 | 68 | 98.2 | 72.1 | 86.4 |
| Lock Cycle Test 2 | 3.28 | 0.55 | 10 | 29.6 | 3.24 | 72 | 96.8 | 62.6 | 76.9 |
Table 1. Corner Bay Metallurgical Test Work Results
| Composite / Test | Impurity Elements (ppm) | ||||||
| CBSP (sorted mineralized material) | Arsenic (As) | Antimony (Sb) | Bismuth (Bi) | Cadmium (Cd) | Lead (Pb) | Mercury (Hg) | Zinc (Zn) |
| Lock Cycle Test 1 | 22 | 3 | 4 | 10 | 102 | 1 | 735 |
| Lock Cycle Test 2 | 10 | 3 | 3 | 10 | 88 | 1 | 777 |
Table 2. Corner Bay Impurity Element Content of Copper Concentrate
Other Metallurgical Test work
Other metallurgical recovery figures from the Company's Chibougamau Project deposits are the following:
| Chibougamau Project Deposit | Recovery Cu % | Recovery Au % | Metallurgical Testing / Processing |
| Devlin 1 | 95.5 | 72.5 | 1. 2021 flotation/locked cycle tests at SGS Canada Inc. mineral processing facility in Quebec City, Quebec. Composite sample from 3 HQ drill cores. 2 2. 2022 ore sorting test program at Corem mineral processing facility in Quebec City, Quebec. Composite sample from 4 HQ drill cores. 3 |
| Cedar Bay | 91 | 87 | Production data prior to 1987. 4 |
| Joe Mann | 94.6 | 83.6 | Production data from 2005-2007, prior to closure of mine. |
Notes:
- The Foreign Mineral Resource Estimate at the Devlin Project has the lowest gold concentration in the Chibougamau camp and therefore its contribution to recovered gold in the copper equivalent calculation is minimal.
- The tests were conducted on a composite sample from three HQ holes drilled from the same drill pad. The composite assay indicated a grade of 1.70% Cu and 0.12g/t Au. The purpose of the gravity test was to evaluate the amenability of the material to gravity separation. A 14kg sample was ground to a P80 of approximately 200 μm prior to being fed to a Knelson concentrator at a rate of approximately 75 kg/h. The water flowrate was set at 3.5 L/min and the rotation speed was 60 G. The gold recovery was low at 11.6%. The tailings of the gravity separation test were used to perform flotation tests. A total of four flotation tests and one locked cycle test were performed. Ahead of each flotation test, a 2kg sample was ground to a P80 of approximately 125 µm. The results of each test were analysed, and Test 4 was identified as showing the best metallurgical performance with a copper grade of 28.3% and recovery of 90.8%. However, the gold recovery was low at 51.7% and the gold grade was less than 10g/t. Therefore, a locked cycle test was carried out to assess the stability of the Test 4 conditions. Six 1kg charges of minus 10 mesh (-2 mm) were used for the locked cycle test. The locked cycle tests yielded a concentrate grade at 20.5% Cu with 98.2% recovery and a gold recovery of 74.6%. Refer to Figures 3 and 5 in Appendix C.
- A sorting test was done on a crush sample of 3/4" nominal size taken from four HQ drill ½ cores drilled in 2022 (all four holes drilled from the same pad) and material from three ½ HQ drill cores left from the 2021 metallurgical test work. The test results showed that particles of interest could be efficiently separated from the gangue. An overall copper recovery of 97.2% was achieved with an upgraded copper content from 2.95% to 4.82% Cu after three passes of sorting. Refer to Figures 3 and 5 in Appendix C.
- Internal company report of Campbell Resources dated 10 September 1987 and titled "Cedar Bay Shaft Deepening Project".
This announcement has been authorised for release by the Board of Directors of Cygnus.
| David Southam Executive Chair T: +61 8 6118 1627 E: info@cygnusmetals.com | Ernest Mast President & Managing Director T: +1 647 921 0501 E: info@cygnusmetals.com | Media: Paul Armstrong Read Corporate T: +61 8 9388 1474 |
About Cygnus Metals
Cygnus Metals Limited (ASX: CY5, TSXV: CYG) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.
Forward Looking Statements
This document contains "forward-looking information" and "forward-looking statements" which are based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of Cygnus believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects', ‘anticipates', ‘plans', ‘believes', ‘estimates', ‘seeks', ‘intends', ‘targets', ‘projects', ‘forecasts', or negative versions thereof and other similar expressions, or future or conditional verbs such as ‘may', ‘will', ‘should', ‘would' and ‘could'. Although Cygnus and its management believe that the assumptions and expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Cygnus to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual results of current or future exploration, changes in project parameters as plans continue to be evaluated, changes in laws, regulations and practices, the geopolitical, economic, permitting and legal climate that Cygnus operates in, as well as those factors disclosed in Cygnus' publicly filed documents. No representation or warranty is made as to the accuracy, completeness or reliability of the information, and readers should not place undue reliance on forward-looking information or rely on this document as a recommendation or forecast by Cygnus. Cygnus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
End Notes
- The Mineral Resource estimate at the Chibougamau Project is a foreign estimate prepared in accordance with CIM Standards. A competent person has not done sufficient work to classify the foreign estimate as a mineral resource in accordance with the JORC Code, and it is uncertain whether further evaluation and exploration will result in an estimate reportable under the JORC Code. Refer to Appendix B for a breakdown of the Mineral Resource Estimate.
Competent Persons, Qualified Persons and Compliance Statements
The Exploration Results, scientific and technical information, including metallurgical test results, contained in this news release is based on and fairly represents information and supporting documentation compiled by Mr Ernest Mast, the Managing Director and President of Cygnus, a "qualified person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr Mast holds shares and options in Cygnus. Mr Mast is a member of Ordre des ingenieurs du Quebec (P Eng), a Registered Overseas Professional Organisation as defined in the ASX Listing Rules, and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". The qualified person has provided his consent to be named in this announcement and consents to the form and context in which the scientific and technical information, including metallurgical test results has been presented in this market announcement.
The Company first announced the foreign estimate of mineralisation for the Chibougamau Project on 15 October 2024. The Company confirms that the supporting information included in the announcement of 15 October 2024 continues to apply and has not materially changed, notwithstanding the clarification announcement released by Cygnus on 28 January 2025 ("Clarification"). Cygnus confirms that (notwithstanding the Clarification) it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original announcement continue to apply and have not materially changed. Cygnus confirms that its is not in possession of any new information or data that materially impacts on the reliability of the estimates or Cygnus' ability to verify the foreign estimates as mineral resources in accordance with the JORC Code. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original market announcement.
Metal equivalents for the foreign estimate have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz, copper equivalents calculated based on the formula CuEq (%) = Cu(%) + (Au (g/t) x 0.77258). Metallurgical recovery factors have been applied to the copper equivalents calculations, with copper metallurgical recovery assumed at 95% and gold metallurgical recovery assumed at 85% based upon historical production at the Chibougamau Processing Facility, and the metallurgical results contained in this announcement. It is the Company's view that all elements in the copper equivalent calculations have a reasonable potential to be recovered and sold.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
APPENDIX A – Drill Hole Location and Sampling Intervals for the Significant Intersections and for the Metallurgical Test Work
Coordinates given in UTM NAD83 (Zone 18).
Corner Bay Metallurgical Test Work
A total of 34 diamond drill core were used for the Corner Bay composite sample. The table shows the sampling interval for each hole collected for the composite sample (sample type: Metallurgy) and the significant intersection obtained through assaying the sample (sample type: Assay). N/A means Not Applicable and na means Not Assayed.
| Hole ID | X | Y | Z | Azi | Dip | Depth (m) | Sample Type | From (m) | To (m) | Interval (m) | Cu % | Au (g/t) | Ag (g/t) | Mo (ppm) |
| CB-18-03 | 554555 | 5510226 | 380 | 121.1 | -71.6 | 912.0 | Metallurgy | 849.5 | 854.6 | 5.1 | N/A | N/A | N/A | N/A |
| Assay | 850.0 | 854.15 | 4.15 | 4.29 | 0.13 | 14.6 | na | |||||||
| CB-18-05 | 544550 | 5510181 | 380 | 125.5 | -75.9 | 1,092.0 | Metallurgy | 1,022.3 | 1,030.3 | 8.0 | N/A | N/A | N/A | N/A |
| Assay | 1,023.0 | 1029.6 | 6.55 | 4.11 | 0.14 | 8.8 | na | |||||||
| CB-18-06 | 554555 | 5510181 | 380 | 125.9 | -74.9 | 987.0 | Metallurgy | 948.2 | 963.2 | 15.0 | N/A | N/A | N/A | N/A |
| Assay | 949.5 | 961.8 | 12.3 | 2.33 | 0.12 | 5.5 | na | |||||||
| CB-18-07 | 554555 | 5510181 | 380 | 126.2 | -72.8 | 897.7 | Metallurgy | 851.6 | 867.9 | 16.2 | N/A | N/A | N/A | N/A |
| Assay | 853.1 | 866.4 | 13.3 | 3.45 | 0.29 | 12.1 | na | |||||||
| CB-19-11 | 554556 | 5510227 | 380 | 97 | -60 | 1011.0 | Metallurgy | 757.1 | 759.2 | 2.1 | N/A | N/A | N/A | N/A |
| Assay | 781.2 | 781.7 | 0.5 | 6.16 | 0.43 | 30.0 | na | |||||||
| CB-20-13 | 554259 | 5510036 | 383 | 97 | -56 | 945.0 | Metallurgy | 862.4 | 863.2 | 0.7 | N/A | N/A | N/A | N/A |
| Assay | 862.5 | 863.1 | 0.6 | 1.89 | 0.10 | 4.0 | na | |||||||
| Metallurgy | 907.1 | 910.4 | 3.3 | N/A | N/A | N/A | N/A | |||||||
| Assay | 907.4 | 910.1 | 2.7 | 1.40 | 0.05 | 7.3 | na | |||||||
| CB-20-15 | 554236 | 5509858 | 382 | 77 | -66 | 1,200.0 | Metallurgy | 1,065.3 | 1,074.4 | 9.1 | N/A | N/A | N/A | N/A |
| Assay | 1,066.15 | 1,073.6 | 7.45 | 2.38 | 0.12 | 4.2 | na | |||||||
| Assay | 1,068.95 | 1,072.6 | 3.65 | 3.65 | 0.18 | 6.2 | na | |||||||
| CB-20-16W1 | 554259 | 5510036 | 383 | 87 | -71 | 1,230.0 | Metallurgy | 1,156.6 | 1,159.7 | 4.0 | N/A | N/A | N/A | N/A |
| Assay | 1,156.0 | 1,158.3 | 3.3 | 1.94 | 0.13 | 4.5 | na | |||||||
| CB-20-18 | 554236 | 5509858 | 382 | 90 | -66 | 1,049.9 | Metallurgy | 1,021.2 | 1,028.9 | 7.7 | N/A | N/A | N/A | N/A |
| Assay | 1,021.9 | 1,028.2 | 6.30 | 3.03 | 0.11 | 6.6 | na | |||||||
| CB-20-19 | 554236 | 5509858 | 382 | 84 | -70 | 1,185.0 | Metallurgy | 1,160.0 | 1,167.9 | 7.9 | N/A | N/A | N/A | N/A |
| Assay | 1,160.75 | 1,167.2 | 6.45 | 4.06 | 0.38 | 13.2 | na | |||||||
| Assay | 1,164.85 | 1,167.2 | 2.35 | 6.10 | 0.74 | 15.3 | na | |||||||
| CB-21-25 | 554572 | 5510607 | 378 | 112 | -56 | 798.0 | Assay | 634.4 | 640.4 | 6.0 | 1.75 | 0.09 | 5.4 | na |
| Assay | 636.2 | 640.4 | 4.2 | 2.13 | 0.11 | 6.7 | na | |||||||
| Metallurgy | 766.6 | 767.6 | 1.0 | N/A | N/A | N/A | N/A | |||||||
| Assay | 766.65 | 767.5 | 0.85 | 0.48 | 0.04 | 4.7 | na | |||||||
| CB-21-28 | 554199 | 5509800 | 383 | 89 | -69 | 1,164.0 | Metallurgy | 1,146.3 | 1,150.8 | 4.5 | N/A | N/A | N/A | N/A |
| Assay | 1,146.7 | 1,150.4 | 3.7 | 5.05 | 0.15 | 11.3 | na | |||||||
| Assay | 1,147.2 | 1,149.0 | 1.8 | 9.12 | 0.17 | 19.2 | na | |||||||
| CB-21-29 | 554198 | 5509781 | 383 | 90 | -65 | 1,068.0 | Metallurgy | 1,050.2 | 1,054.7 | 4.5 | N/A | N/A | N/A | N/A |
| Assay | 1,050.6 | 1,054.3 | 3.7 | 2.47 | 0.87 | 9.3 | na | |||||||
| Assay | 1,051.6 | 1,053.1 | 1.5 | 5.25 | 2.05 | 12.7 | na | |||||||
| CB-21-30 | 554198 | 5509781 | 383 | 90 | -65 | 1,068.0 | Metallurgy | 1,007.2 | 1,016.3 | 9.1 | N/A | N/A | N/A | N/A |
| Assay | 1,005.0 | 1,015.45 | 10.45 | 2.23 | 0.52 | 7.7 | na | |||||||
| Assay | 1,010.3 | 1,014.9 | 4.6 | 4.04 | 1.02 | 13.7 | na | |||||||
| CB-21-32 | 554673 | 5510019 | 396 | 90 | -57 | 641.4 | Metallurgy | 1,118.9 | 1,125.6 | 6.7 | N/A | N/A | N/A | N/A |
| Assay | 1,119.5 | 1,125.0 | 5.5 | 3.46 | 0.25 | 8.4 | na | |||||||
| Assay | 1,120.4 | 1,124.0 | 3.6 | 4.63 | 0.30 | 11.4 | na | |||||||
| CB-21-32W1 | 554198 | 5509781 | 383 | 105 | -68 | 1,149.0 | Metallurgy | 1,069.4 | 1,086.8 | 17.3 | N/A | N/A | N/A | N/A |
| Assay | 1071.0 | 1085.2 | 14.2 | 2.26 | 0.18 | 7.4 | na | |||||||
| Assay | 1071.8 | 1078.6 | 6.8 | 3.67 | 0.26 | 9.7 | na | |||||||
| CB-21-32W2 | 554198 | 5509781 | 383 | 105 | -68 | 1,155.0 | Metallurgy | 1,035.5 | 1,047.3 | 11.7 | N/A | N/A | N/A | N/A |
| Assay | 1036.6 | 1046.2 | 9.6 | 2.19 | 0.20 | 6.58 | na | |||||||
| Assay | 1043.6 | 1046.2 | 2.6 | 5.86 | 0.66 | 14.75 | na | |||||||
| CB-21-34 | 554257 | 5510030 | 381 | 75.0 | -65.0 | 1204.0 | Metallurgy | 1,159.8 | 1,164.2 | 4.4 | N/A | N/A | N/A | N/A |
| Assay | 1,160.2 | 1,163.8 | 3.6 | 4.52 | 0.12 | 8.1 | na | |||||||
| Assay | 1,161.2 | 1,162.85 | 1.65 | 9.75 | 0.24 | 14.7 | na | |||||||
| CB-21-35 | 554674 | 5510020 | 398 | 100.0 | -56.0 | 468.0 | Metallurgy | 427.0 | 435.9 | 8.9 | N/A | N/A | N/A | N/A |
| Assay | 427.8 | 435.1 | 7.3 | 1.43 | 0.17 | 4.9 | na | |||||||
| Assay | 431.5 | 434.6 | 3.1 | 2.03 | 0.32 | 6.6 | na | |||||||
| CB-21-36 | 554618 | 5510020 | 394 | 95.0 | -63.0 | 633.0 | Metallurgy | 607.5 | 610.7 | 3.2 | N/A | N/A | N/A | N/A |
| Assay | 607.8 | 610.4 | 2.6 | 1.35 | 0.22 | 10.2 | na | |||||||
| CB-21-41 | 554198 | 5509781 | 383 | 92.0 | -60.0 | 1050.0 | Metallurgy | 967.2 | 971.5 | 4.3 | N/A | N/A | N/A | N/A |
| Assay | 967.6 | 971.1 | 3.5 | 2.66 | 0.40 | 16.6 | 195 | |||||||
| CB-21-42 | 554198 | 5509781 | 383 | 110.0 | -63.0 | 1125.6 | Metallurgy | 1,044.7 | 1,048.3 | 3.7 | N/A | N/A | N/A | N/A |
| Assay | 1,045.0 | 1,048.0 | 3.0 | 2.71 | 0.18 | 22.3 | - | |||||||
| CB-21-48 | 554198 | 5509781 | 383 | 95.0 | -72.0 | 1311.0 | Metallurgy | 1,261.0 | 1,264.1 | 3.0 | N/A | N/A | N/A | N/A |
| Assay | 1,261.3 | 1,263.8 | 2.5 | 2.42 | 0.15 | - | - | |||||||
| CB-21-51 | 554257 | 5510030 | 381 | 60.0 | -56.0 | 1188.0 | Metallurgy | 1,140.9 | 1,147.5 | 6.6 | N/A | N/A | N/A | N/A |
| Assay | 1,141.5 | 1,146.9 | 5.4 | 2.24 | 0.10 | - | 142 | |||||||
| Assay | 1,144.0 | 1,146.9 | 2.9 | 3.44 | 0.17 | - | 262 | |||||||
| CB-21-53 | 554618 | 5510020 | 394 | 135.0 | -60.0 | 804.0 | Metallurgy | 768.1 | 770.5 | 2.4 | N/A | N/A | N/A | N/A |
| Assay | 768.3 | 770.3 | 2.0 | 3.34 | 0.56 | 15.6 | - | |||||||
| CB-21-55 | 554618 | 5510020 | 394 | 100.0 | -68.0 | 729.0 | Metallurgy | 673.3 | 678.0 | 4.8 | N/A | N/A | N/A | N/A |
| Assay | 673.7 | 677.6 | 3.9 | 8.03 | 0.86 | 42.1 | 1,109 | |||||||
| CB-21-56 | 554257 | 5510030 | 381 | 56.0 | -66.0 | 1374.0 | Metallurgy | 1,293.7 | 1,297.3 | 3.7 | N/A | N/A | N/A | N/A |
| Assay | 1,294.0 | 1,297.0 | 3.0 | 2.10 | 0.10 | - | - | |||||||
| CB-21-57 | 554618 | 5510020 | 394 | 118.0 | -70.0 | 747.0 | Metallurgy | 719.5 | 724.7 | 5.1 | N/A | N/A | N/A | N/A |
| Assay | 720.0 | 724.2 | 4.2 | 6.18 | 0.12 | 26.6 | 271 | |||||||
| CB-22-70 | 554562 | 5510292 | 380 | 96.0 | -52.0 | 693.0 | Metallurgy | 628.1 | 632.4 | 4.3 | N/A | N/A | N/A | N/A |
| Assay | 628.5 | 632.0 | 3.5 | 1.03 | 0.06 | 7.4 | - | |||||||
| CB-22-74 | 554264 | 5510035 | 384 | 90.1 | -62.0 | 1041.0 | Metallurgy | 982.4 | 984.9 | 2.6 | N/A | N/A | N/A | N/A |
| Assay | 982.6 | 984.7 | 2.1 | 1.19 | 0.16 | 4.8 | 132 | |||||||
| CB-22-76 | 554236 | 5509858 | 382 | 86.5 | -61.0 | 999.0 | Metallurgy | 954.2 | 960.8 | 6.6 | N/A | N/A | N/A | N/A |
| Assay | 954.8 | 960.2 | 5.4 | 3.37 | 1.00 | 23.7 | 1,597 | |||||||
| CB-22-78 | 554258 | 5510033 | 380 | 89.5 | 65.0 | 1110.0 | Metallurgy | 1,048.6 | 1,054.3 | 5.7 | N/A | N/A | N/A | N/A |
| Assay | 1,049.1 | 1,053.8 | 4.7 | 2.30 | 0.14 | 7.7 | 150 |
Notes:
- From hole CB-19-08 to CB-21-38 and from CB-22-70 to CB-22-78, the true width of the structures intersected is estimated at approximately 55-65% of the downhole width.
- From hole CB-21-39 to CB-21-57, the true width of the structures intersected is estimated at approximately 60-75% of the downhole width. For holes CB-21-48, the true width of the structures intersected is estimated at approximately 55-60% of the downhole width.
Devlin Metallurgical Test Work
A total of 3 HQ diamond drill ½ core were used for the Devlin composite sample for the 2021 flotation tests. A total of 4 HQ diamond drill ½ core and material left from the 2021 metallurgical test work (the other ½ drill cores from the 3 HQ holes) were used for the Devlin composite sample for the 2022 ore sorting tests. The table shows the sampling interval for each hole collected for the composite sample (sample type: Flotation or Ore Sorting).
| Hole ID | X | Y | Z | Azi | Dip | Depth (m) | Sample Type | From (m) | To (m) | Interval (m) |
| DV-21-01 | 548063 | 5511863 | 380 | 333 | -50 | 120 | Flotation | 87.4 | 89.7 | 2.3 |
| DV-21-02 | 548063 | 5511863 | 380 | 360 | -90 | 102 | Flotation | 65.8 | 68.1 | 2.3 |
| DV-21-03 | 548063 | 5511863 | 380 | 29 | -50 | 111 | Flotation | 92.8 | 95.1 | 2.3 |
| DV-22-04 | 548083 | 5511859 | 380 | 0 | -90 | 84 | Ore Sorting | 64.5 | 66.8 | 2.3 |
| DV-22-05 | 548083 | 5511859 | 380 | 0 | -90 | 84 | Ore Sorting | 64.8 | 67.1 | 2.3 |
| DV-22-06 | 548083 | 5511859 | 380 | 0 | -70 | 84 | Ore Sorting | 68.8 | 71.1 | 2.3 |
| DV-22-07 | 548083 | 5511859 | 380 | 0 | -70 | 84 | Ore Sorting | 69 | 71.3 | 2.3 |
APPENDIX B – Chibougamau Copper-Gold Project – Foreign Mineral Resource Estimate Disclosures as at 30 March 2022
| Deposit | Category | Tonnes (k) | Cu Grade (%) | Au Grade (g/t) | Cu Metal (kt) | Au Metal (koz) | CuEq Grade (%) |
| Corner Bay (2022) | Indicated | 2,700 | 2.7 | 0.3 | 71 | 22 | 2.9 |
| Inferred | 5,900 | 3.4 | 0.3 | 201 | 51 | 3.6 | |
| Devlin (2022) | Measured | 120 | 2.7 | 0.3 | 3 | 1 | 2.9 |
| Indicated | 660 | 2.1 | 0.2 | 14 | 4 | 2.3 | |
| Measured & Indicated | 780 | 2.2 | 0.2 | 17 | 5 | 2.4 | |
| Inferred | 480 | 1.8 | 0.2 | 9 | 3 | 2.0 | |
| Joe Mann (2022) | Inferred | 610 | 0.2 | 6.8 | 1 | 133 | 5.5 |
| Cedar Bay (2018) | Indicated | 130 | 1.6 | 9.4 | 2 | 39 | 8.9 |
| Inferred | 230 | 2.1 | 8.3 | 5 | 61 | 8.5 | |
| Total | Measured & Indicated | 3,600 | 2.5 | 0.6 | 90 | 66 | 3.0 |
| Total | Inferred | 7,200 | 3.0 | 1.1 | 216 | 248 | 3.8 |
APPENDIX C – 2012 JORC Table 1
Section 1 Sampling Techniques and Data
| Criteria | JORC Code explanation | Commentary |
| Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. |
|
| Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. |
| |
| Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard' work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. |
| |
| Drilling techniques | Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
|
| Drill sample recovery | Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
|
| Logging | Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. |
|
| Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. |
| |
| The total length and percentage of the relevant intersections logged. |
| |
| Sub-sampling techniques and sample preparation | If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. |
|
| Quality of assay data and laboratory tests | The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. |
|
| For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. |
| |
| Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. |
| |
| Verification of sampling and assaying | The verification of significant intersections by either independent or alternative company personnel. |
|
| The use of twinned holes. |
| |
| Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. |
| |
| Discuss any adjustment to assay data. |
| |
| Location of data points | Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. |
|
| Specification of the grid system used. |
| |
| Quality and adequacy of topographic control. |
| |
| Data spacing and distribution | Data spacing for reporting of Exploration Results. |
|
| Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. |
| |
| Whether sample compositing has been applied. |
| |
| Orientation of data in relation to geological structure | Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. |
|
| If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
| |
| Sample security | The measures taken to ensure sample security. |
|
| Audits or reviews | The results of any audits or reviews of sampling techniques and data. |
|
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | JORC Code Explanation | Commentary |
| Mineral tenement and land tenure status | Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. |
|
| The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
| |
| Exploration done by other parties | Acknowledgment and appraisal of exploration by other parties. |
|
| Geology | Deposit type, geological setting and style of mineralisation. |
|
| Drill hole Information | A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
|
|
| Data aggregation methods | In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. |
|
| Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. |
| |
| The assumptions used for any reporting of metal equivalent values should be clearly stated. |
| |
| Relationship between mineralisation widths and intercept lengths | These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known'). |
|
| Diagrams | Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
|
| Balanced reporting | Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
|
| Other substantive exploration data | Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
See below Figure 4: Flow Sheet Schematic for the Corner Bay Sorting and Flotation Test Work.
See below Figure 5: Flow Sheet Schematic for the Devlin Sorting, Gravity and Flotation Test Work. |
| Further work | The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
|
Figure 1: Corner Bay Drillhole Location for the Composite Sample Used in Ore Sorting Test Shown in Plan View
Figure 2: Corner Bay Sample Location for Composite Sample Used in Ore Sorting Test Shown in an Isometric Long Section. 
Figure 3: Devlin drillhole location for the samples used in gravity, flotation and ore sorting tests shown in plan view. 
Figure 4: Flow Sheet Schematic for the Corner Bay Sorting and Flotation Test Work. 
Figure 5: Flow Sheet Schematic for the Devlin Sorting, Gravity and Flotation Test Work. 
Images accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f91b81e3-794b-4b5c-a358-bdcec3faf01e
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https://www.globenewswire.com/NewsRoom/AttachmentNg/25706f8b-2061-4a74-81c3-f0de0ce5e9d7
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Noble Minerals More Than Triples the Size of the Cere Villebon Copper, Nickel, Cobalt, Platinum Group Property, Quebec
(TheNewswire)
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Toronto, Ontario TheNewswire - January 27, 2025 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to report acquisition of additional claims on the wholly owned Cere Villebon Property located southeast of Val d'Or, Quebec. The claims were acquired by map staking and the new property area is now approximately 1,573 Hectares. The new area staked is currently being evaluated for the potential to host similar mineralization to that found in 2023.
The Cere Villebon Project
In 2023, a drill and geophysical program were completed on the Cere Villebon Project. The drill program included 7 diamond drill holes for a total of 1,955 meters. Significant mineralization was encountered in Holes 1 and 5.
Sampling of Hole 1 from the Cere Villebon drill program returned analyses of 5.2 meters* of 0.66% copper, 0.94% nickel, 0.04% cobalt, 0.25 g/t platinum and 0.66 g/t palladium within a 63 meter* wide mineralized zone grading 0.24% copper, 0.38% nickel, 0.02% cobalt, 0.11 g/t platinum and 0.33 g/t palladium . (*true width not known at this time.)
Sampling of Hole 5, located 25 meters east of Hole 1, of 0.46% copper, 0.69% nickel, 0.03% cobalt 0.78 g/t platinum and 1.28 g/t palladium over 19 meters* within a 37 meter* zone of 0.36% copper, 0.50% nickel, 0.02% cobalt, 0.36 g/t platinum and 0.54 g/t palladium . (*true width not known at this time)
The mineralization was found to be associated with a strong chargeability anomaly associated with a resistivity low reflecting the sulphide mineralization encountered in the core.
Holes 2, 3, 4, 6, and 7 showed no significant mineralization and were drilled off trend of Hole 1 and 5 to test targets on other parts of the property.
Historic drilling and resource estimates done by the Groupe La Fosse Platinum Inc on the North Zone (1987) calculated a historical resource of 421,840 tonnes grading 0.52% copper, 0.72 % nickel and 1.08 g/t combined platinum-palladium (Groupe La Fosse Platinum Inc., 1987 Annual Report).
This estimate is historical in nature, non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and therefore should not be relied upon. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources, and these estimates should only be considered has an indication of the mineral potential of the Property.
Image 1: Drill core from Hole 1, 220.5m depth down hole .
Click Image To View Full Size
Wayne Holmstead, P.Geo (OGQ), a "qualified person" as such term is defined by National Instrument 43-101, has reviewed the Cere Villebon data disclosed in this news release, and has otherwise reviewed and approved this technical information in this news release on behalf of Noble Minerals.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~1700 hectares in Thomas Twp in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec.
More detailed information is available on the website at: https://www.noblemineralexploration.com
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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