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Toronto, Ontario TheNewswire February 22, 2023 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to report on progress for a number of it's active projects.
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Drill program commenced on Cere Villebon Property in Quebec;
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IP Survey near completion on Kidd/Carnegie project in advance of proposed drill program
Cere Villebon Property, Quebec
A 2,500 meter drill program has commenced on the Company's Cere Villebon property which consists of 15 claims (483 hectares). The property is road and power accessible, located only 4 kilometers east of Highway 117, the highway that connects Montreal to Val d'Or.
The Cere Villebon property consists of pyrrhotite and chalcopyrite mineralization in fracture fillings hosted by ultramafic rocks in the metamorphic halo of the Freville Batholith. The copper, nickel and platinum group mineralization is located in two zones, the North and the South Zone.
Drilling and resource estimates done by the Groupe La Fosse Platinum Inc., in 1987, evaluated 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 with the standards under NI 43-101- Standards of Disclosure for Mineral Projects , 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 the Company is not treating this historical estimate as current mineral resources. These estimates should only be considered as an indication of the mineral potential of this property.
Diamond Drill Hole FV-87-1 drilled by LaFosse Platinum in 1987 into the North Zone intersected 27.38* meters of 0.70% nickel, 0.68% copper, 0.23 g/t platinum, 0.64 g/t palladium and 0.08 g/t gold including 7.65* meters of 0.94% nickel, 1.02% copper . (* Exact width not known at this time). As reported in the December 10, 2009 NI 43-101 Report prepared for St-Georges Minerals Inc and Lightwave Corp by Jean Sebastien Lavallee B.Sc., P.Geo. and Marc-Andre Cloutier, M. Sc. A., Geol. Eng.
Click Image To View Full Size
Figure 9: Cere Villebon North Zone showing location of DDH FV-87-1.
Historical exploration results disclosed in this news release are non-compliant with the requirements of National Instrument 43-101.
Kidd Creek Project
Line cutting has been completed on the Kidd Creek project with the IP survey near completion on 4 primary targets in Carnegie Twp in advance of a proposed 2000 meter drill program.
The Kidd Creek Project consists of a group of patents and claims including 50% held with 11530313 Canada Inc acquired from Explor Resources Inc in the vicinity of the Kidd Creek Mine, 24 km north of Timmins Ontario. The Kidd deposit is one of the largest volcanogenic massive sulfide ore deposits in the world, and one of the world's largest base metal deposits and lies within the Abitibi greenstone belt and is presently owned by Glencore.
Exploration of this area in the past was hindered by so many companies with small land packages. Over the years, Noble has been successful in assembling one of the largest land inventories in the vicinity of the Kidd Creek Mine.
Noble Minerals is finishing up strategic Induced Polarization surveys within 2 km of the Kidd Creek open pit on the Fly Creek Rhyolite. The target of the program is rhyolite intercalated with ultramafic rocks on an anticlinal structure. It is postulated that these rhyolites are the same age as the Kidd Creek mineralized rhyolites. Bleeker (1999)* proposed that faults that slice through the Kidd Creek mine fold have displaced the northern limb of the Kidd Creek Mine fold up to 2 km to the north and are interpreted to be time-stratigraphic equivalent. (See Figures 1 and 2).
In addition, the Fly Creek Rhyolite may be the faulted extension of the Chance Rhyolite where Texas Gulf previously intersected several drill holes containing lead, zinc and silver mineralization.
To the west Noble will be investigating, a property with Induced Polarization that lies within 600 meters and on the same stratigraphic horizon as the Chance mineralization and the Kidd Creek Mine.
* Bleeker, W., 1999. Structure, Stratigraphy, and Primary Setting of the Kidd Creek Volcanogenic Massive Sulfide Deposit: A Semiquantitative Reconstruction. Economic Geology Monograph 10, p. 71-121
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Figure 1: Exploration Model for the Kidd Creek Mine. Adapted from Morgan, L.A., and Schulz, K.J., (2012)*
* Morgan, L.A., and Schulz, K.J., 2012, Physical volcanology of volcanogenic massive sulfide deposits in volcanogenic
massive sulfide occurrence model: U.S. Geological Survey Scientific Investigations Report 2010–5070 –C, chap. 6, 8 p
Figure 2: Geological Map of the Kidd Creek Area showing Relation of Area Rhyolites to the Kidd Creek Rhyolite
Michael Newbury PEng (ON), a "qualified person" as such term is defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., 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 ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional ~11,000 hectares in the Timmins area and ~14,400 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. 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, ~518 hectares in the Laverlochere Nickel, Copper, PGM property and ~482 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 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: ir@noblemineralexploration.com
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