1954 nickel

Exploration Update: Noble to Resume Drilling on the Dargavel-Aubin Township Gold Property near Cochrane, Ontario, Receives OJEP Grant from the Ontario Government

 

(TheNewswire)

  Noble Mineral Exploration Inc. 

  

  -   Previous diamond drilling by Noble found gold mineralization over 7.5 kilometers of strike, open in both directions and in width.  Potential target area 30 km long enclosing 200 square kilometers  

 
  •  

      -   2020 Drill intersections included; 2.84 g/t gold over 1.5 meters and 0.67 g/t over 18.0 meters. *  

     
  •  

  -   Present work program includes a completed 20 line kilometer Induced Polarization, Magnetic and VLF-EM survey and 4,000 meters of additional diamond drilling to begin in January 2022  

 
  •  

      -   Noble has received confirmation from the   Ontario Junior Exploration Program   sponsored by the Ontario Government to fund up to $200,000 of the proposed program  

     

  •  

  *   True widths not known at this time  

 

  Toronto, Ontario –   TheNewswire -   November   8, 2021 – Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSXV:NOB  ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce that   due to favourable results from the 2020 drill program in Dargavel Township and a comprehensive compilation of historical work in the region, additional drilling is recommended to further define gold mineralization in the area.  Induced Polarization, Magnetic and VLF-EM surveys have been completed in the vicinity of the 2020 drilling to help interpret previously detected mineralized zones and to assist in the locating new drill targets.  A 4,000 meter drill program is expected to begin in January 2022 when snow conditions and frozen ground will allow easier movement of the drill rig.   The Dargavel Property is owned 100% by Noble subject to a 50/50 Option /JV with a private investor and to a 2% Net Smelter Royalty held by Franco Nevada.  

 

  Previous drilling by Noble identified gold mineralization over a strike length of 7.5 kilometers, open in both directions.  In addition, the true width of the zone has not been determined as evidenced by the fact that drill hole DAR-20-06 ended in mineralization after cutting more than 18 meters of gold mineralized core.  Very little work has been done in the past in Dargavel Township due to the heavy overburden cover and the fact that the area was not open for traditional staking due to the predominance of patented claims in the area.  Compilation of all data in the area has revealed that the gold mineralization in the area appears to be controlled by faulting and iron formation units in close proximity to a granodiorite intrusive contact.  The granodiorite contact zone forms a gold exploration target that is approximately 30 km in length.  

 

  There is also evidence that the granodiorite itself may contain significant gold mineralization.  Rio Algom undertook drilling in 1991 that resulted in:  

 

  Hole AU-91-22 that assayed 0.50 g/t Au over 3m core length in granodiorite mineralized with chalcopyrite and pyrite.  

 

  Hole AU-91-19, drilled approximately 125m south of AU-91-22, assayed 0.34 g/t Au over 1.7m core length in granodiorite.  

 

  A 2011 airborne survey flown by Noble has detected numerous magnetic and conductive zones in the interior of the granodiorite that to date have not been tested by diamond drilling.  

 

  The granodiorite contact area and the interior of the granodiorite creates a potential target area of about 200 square kilometers.  

 

  In addition to gold values, the drilling also assayed 1.51 g/t combined platinum and palladium over 1.5 meters core length associated with gold mineralization in Hole DAR-20-05.  Past work in the township has also detected nickel, cobalt and platinum group plus volcanogenic massive sulphide mineralization.  

 

  The Ontario Government has given Noble a ‘vote of confidence' in the Dargavel Project by granting a $200,000 grant to carry out work on the project under the   Ontario Junior Exploration Program.  The program was created to stimulate exploration in the junior mining sector in the Province of Ontario.  The grant will match an equal expenditure by Noble on the property and will be paid upon completion of the proposed program.  

 

  Recent compilation work completed by Noble has  found the following areas of interest in Dargavel and Aubin Townships (See Figure 1). (Note these results are historical)  

 

  Hudbay K-81-4 (1981): Hole K-81-4 intersected graphitic schist that assayed   0.93 g/t Au over 1.3m   . The hole shows also some anomalous values in Zn  

 

  Chevron 85-3 (1985): Hole K85-3 intersected massive sulphides with garnet and chlorite assayed up to   0.81 g/t Au over 4m  

 

  INCO 25013 (1964): Hole 25013 intersected a fragmental rhyolite with sulphide stringers and quartz veining which gave assays of   0.56 to 3.05 g/t Au and 2.86 g/t Pt   . An iron formation with quartz veining and sulphides assayed   0.56 g/t Au over 1.8m  

 

  INCO 25016 (1964): Hole 25016 intersected a fragmental rhyolite which assayed   0.44 g/t Au over 0.61m  

 

  Chevron 85-10 (1985): Hole K85-10 intersected a mafic metavolcanic rock which assayed for   0.47 g/t Au over 0.5m  

 

  Chevron 85-4 (1985): Hole K85-4 intersected a biotite rich quartz porphyry (   2.5m at 0.56 g/t Au)   , a quartz-feldspar porphyry   (0.37 g/t Au over 2m)   , an amphibolitic gneiss   (1.75m, assays up to 1.55 g/t Au)   , and a chlorite schist   (3m, assays up to 0.68 g/t Au)  

 

  Chevron 85-9 (1985): Hole K85-9 intersected a mafic metavolcanic unit with a progressive transition of chlorite to biotite, resting on a quartz vein, which assayed   1.18 and 1.37 g/t Au over 1m  

 

  Chevron 85-7 (1985): Hole K85-7 intersected sediments and quartz porphyries, which returned assays from   0.31 to 2.05 g/t Au  

 

  Chevron 84-1 (1984): Sample at 94.8m in metasediments, mineralized with pyrite and chalcopyrite, assayed   0.96 g/t Au   . Sample at 136.1m in qtz-greywacke, assayed   2.95 g/t Au   . This sample was adjacent to the contact with sheared, silicified, seriticized, carbonatized porphyry.  

 

  Chevron 84-4 (1984): Best assay obtained was   1.74 g/t Au   at 209.3m, from a tuffaceous wacke mineralized with 10-15% pyrite, trace chalcopyrite and cut with qtz-chlorite veining. Additional assay   results (Au):   0.65 g/t at 121m; 0.84 g/t at 123.7m; 0.72 g/t at 130m; 0.84 g/t at 141m; 1.12 g/t at 196m   .  

 

  Rio Algom NE-90-10 (1990): Assay results:   0.69 g/t Au and 0.23% Cu over 1.9m   at 147.8m, in iron formation mineralized with magnetite, pyrite and chalcopyrite  

 

  Rio Algom AU-91-22 (1991): Sample from hole AU-91-22 assayed   0.50 g/t Au over 3m   in granodiorite mineralized with chalcopyrite and pyrite.  Hole AU-91-19, drilled approximately 125m south of AU-91-22, returned   0.34 g/t Au over 1.7m   in granodiorite   .  

 

  Rio Algom NE-91-14 (1991): Assay results:   0.98 g/t Au over 1.5m   at 107.8m at contact between mafic and ultramafic metavolcanic mineralized with pyrite, trace chalcopyrite and qtz-chlorite-feldspar veining with 15% py at contact;   1.36 g/t Au over 1.10m   at 110.8m in altered ultramafic rocks  

 

  Inco 27089 (1966): Assays returned   8.40 g/t over 0.30m   , from a sheared, carbonated, siliceous zone between meta-dacite/andesite and   0.46 g/t Au over 10.70m   in meta-rhyodacite plus   1.13 g/t Au over 6.46m.  

 

  Figure 1: Historical exploration drill hole and Noble drill hole locations.  

 

    
Click Image To View Full Size
 

 

  A summary of the significant results from the Noble 2020 drill program are detailed in Table 1 with the hole locations in Figure 1 and 2.  

 

  Table 1: Significant Gold Intersections from the 2020 Drill Program*  

 

    
Click Image To View Full Size
 

 

  *   True widths not known at this time  

 

  Figure 1: Map Showing 2020 Noble Drill Holes with Significant Drill Intersections*  

 

    
Click Image To View Full Size
 

 

  *   True widths not known at this time  

 

  Vance White, President and CEO of Noble, said "We are excited to continue the exploration on the Dargavel Township Property.  Previous work carried out by Noble on the property detected gold mineralization in the five out of six holes drilled.  What was not defined by the last program was the strike length of the zone or the width of the zone.  The present program of geophysics and diamond drilling will help to define these unknowns."  

 

  Michael Newbury P.Eng. (ON), a "qualified person" as such term is defined by National Instrument 43-101, has verified 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. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds approximately 72,000 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. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It also owns the Buckingham Graphite Property, the   Laverlochere Nickel, Copper, PGM property and 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  

 

  Email:        ir@noblemineralexploration.com  

 

Copyright (c) 2021 TheNewswire - All rights reserved.

 

News Provided by TheNewsWire via QuoteMedia

Noble Mineral

Noble Mineral Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Noble Mineral Exploration

Noble Mineral


Keep reading...Show less

Battery and Critical Minerals Prospect Generator in Ontario

Closeup of vibrant blue crystals on a textured surface.

Cobalt Blue's Broken Hill Project Gets Major Project Status Extension

Cobalt Blue Holdings' (ASX:COB) Broken Hill cobalt project has received a further three years of major project status.

The extension of major project status for Broken Hill follows the project's initial designation originally granted in March 2022, and supports the continued development of this key asset in remote western New South Wales.

The project spans approximately 37 square kilometres.

Keep reading...Show less
Democratic Republic of Congo flag.

Cobalt Prices Surge as DRC Extends Export Ban to September

Cobalt prices are surging after the Democratic Republic of Congo (DRC), the world’s largest producer, extended its export ban by three months in a bid to address global oversupply and stabilize plunging prices.

According to the Financial Times, cobalt prices on China’s Wuxi Stainless Steel Exchange rose nearly 10 percent after the DRC government announced the news over the weekend.

The ban — originally set to expire on Monday (June 23) — will now remain in effect until at least September.

Keep reading...Show less
A lithium-ion battery in the foreground with a line of batteries in the background, all surrounded by blue swirls.

ASX Cobalt Stocks: 4 Biggest Companies in 2025

After spending much of the last two years trending downwards, the cobalt price is spiking in 2025.

About 75 percent of global cobalt output comes from the Democratic Republic of Congo (DRC). While electric vehicle (EV) demand has remained positive, cobalt oversupply has weighed on markets and hurt efforts to build supply chains outside of the DRC.

However, the country banned exports of cobalt in February in an effort to increase the metal's falling price. By mid-March, cobalt had spiked to US$36,170 per tonne, up more than 65 percent from its record-low price of US$21,550 hit in late January.

Increasing electric vehicle (EV) and lithium-ion battery demand is expected to be supportive for key battery raw materials in the coming years. This means that as demand for EVs increases, so too will demand for cobalt — and, as one of the top four cobalt-producing countries in the world, Australia finds itself in a position to capitalise on this demand.

Keep reading...Show less
Electric car charging, wind turbine and cityscape double exposure.

Cobalt Market Update: Q1 2025 in Review

Cobalt metal prices fell to a nine year low in February after another year of oversupply, but rebounded sharply after the Democratic Republic of Congo (DRC) instituted a four month export pause for the critical metal.

After starting the year at US$24,495 per metric ton, cobalt ended the three month period at US$34,040.40, a strong 39 percent increase from January’s value. The price spread between cobalt’s first quarter low of US$21,467.70 on January 29 and its Q1 high of US$36,262 on March 17 is even more impressive at 69 percent.

The drop to US$21,467.70 marked the battery metal's lowest level since February 2016.

Keep reading...Show less
A Canada flag on a compass pointing towards the word "invest."

Electra Secures Federal Support for North America’s Only Cobalt Sulfate Refinery

Electra Battery Materials (TSXV:ELBM,NASDAQ:ELBM) announced on March 21 that it has received a letter of intent from the Canadian government for C$20 million in proposed funding.

The money would support the construction and commissioning of North America’s first battery-grade cobalt refinery, a critical step toward strengthening the region’s electric vehicle (EV) supply chain.

The refinery, located in Temiskaming Shores, Ontario, is set to produce 6,500 metric tons of cobalt sulfate annually, enabling domestic production of up to 1 million EVs per year. According to Electra, it would be a key step in reducing North America's dependence on China, which currently refines approximately 90 percent of the world’s cobalt.

Keep reading...Show less
Noble Mineral

Noble Mineral Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×