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Highlights
Noble Mineral Exploration Inc. ( “Noble” or the “Company” ) (TSXV:NOB ) , ( FRANKFURT:NB7 ) , ( OTC:NLPXF) announces that it has entered into an agreement with a vendor (the “ Vendor ”) to acquire one mining claim (the “Claim” ) in Newfoundland covering an area of approximately 175 hectares (the “Transaction” ). For further details regarding the Claim, please refer to the section entitled “Newfoundland Project” of the news release issued by Noble on January 17, 2023 (see Figure 1).
Pursuant to the Transaction, Noble is acquiring the Claim through the issuance of 25,000 common shares of Noble which will be subject to a four month hold period and payment of $5,000 Canadian dollars in cash. Under the Transaction, the Vendor will retain a 2% net smelter royalty (“ NSR ”) with Noble having the right to buy back 1% NSR for $500,000 Canadian dollars and the remaining 1% NSR for 1,000,000 Canadian dollars. The Transaction is subject to approval of the Board of Directors and the TSX Venture Exchange.
Figure 1: Newfoundland new Property in relation to Spruce Ridge Drilling and Property
About Noble Mineral Exploration Inc.:
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 its ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, its ~3,700 hectares in the Buckingham Graphite Property, its ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, its ~518 hectares in the Laverlochere 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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Noble Mineral
Overview
Noble Mineral Exploration (TSXV:NOB,FWB:NB7,OTCQB:NLPXF) is a Canadian junior exploration company with shareholdings in Canada Nickel, Spruce Ridge Resources and MacDonald Mines Exploration.
Noble holds approximately 90,000 hectares of mineral rights in various areas of Northern Ontario, Quebec and Newfoundland, upon which it plans to generate joint venture exploration programs. The company is exploring for nickel, cobalt, platinum group metals (PGMs), volcanogenic massive sulphide (VMS), gold, chromium, copper, zinc, silver and gold. The company owns one contiguous block of land totaling 25,000 hectares staked and patented mineral rights at Project 81 including a 50-percent interest in the Carnegie, Prosser, Wark and Kidd Twps (6,600 hectares ) claims, and an option on 4,800 hectares in Calder Twp.
Noble’s Project 81 properties have been sold to Canada Nickel for 3.5 million shares of Canada Nickel, which yielded dividends to Noble shareholders in the second quarter of 2022 by way of a return of capital. Noble has retained a 2-percent net smelter return (NSR) on claims in Bradburn, Mahaffy and MacDiarmid Twps subject to a 50-percent buyback at graduated rates per project.
The Crawford nickel sulfide project covers 9,000 hectares of the larger Project 81 property and is approximately 14 kilometers north of the Kidd Creek mine. After an initial drill program carried out by Spruce Ridge Resources, the Crawford Ni-Co-PGM deposit was taken over by Sprudge Ridge for 22 million shares of Canada Nickel.
Noble Mineral also holds interest in Mann et al Twps comprising 1,900 hectares in the Timmins area of Northern Ontario, for which it holds the mineral rights focusing on Ni-Co-PGM. The company plans a follow-up drilling campaign at the Nagagami River Carbonatite project covering 14,600 hectares of niobium and rare earth discovery near Hearst in Northern Ontario. Noble is also planning its 2023 drill campaign at the 4,600-hectare Boulder Project. Scheduled winter drilling for the same year is set for the 482-hectare Cere-Villebon and 3,700-hectare Buckingham graphite projects.
Noble Mineral has also formed numerous strategic financial and technical partnerships that apply state-of-the-art technology to help identify various types of mineralization. Some of the company’s partners include MacDonald Mines Exploration (TSXV:BMK), a Canadian precious metals explorer, Orix Geoscience, a geological consulting firm, BECI Exploration Consulting, an innovative airborne mineral exploration technology developer, CGG Multiphysics, a fully-integrated geoscience company providing leading geological, geophysical (airborne gravity gradiometer) and reservoir services, Windfall Geotek to produce artificial intelligence (AI), IBK, as their financial advisor, and Franco-Nevada (TSX:FNV), a net smelter royalty (NSR) holder.Company Highlights
- Operates under a prospect generator model.
- Wholly owned 36,400-hectare Project 81 precious, nickel-cobalt and base metal property near Timmins, Ontario, adjacent to Glencore’s Kidd Creek VMS mine and milling complex.
- MOUs in place with First Nations communities.
- Created a pure-play nickel company, Canada Nickel, with the consolidation of 100 percent of the Crawford nickel sulfide project.
- Follow-up exploration planned in several areas of the project.
- Multiple acquisitions include 50 percent interest in claims in Carnegie, Kidd, Wark and Prosser townships near Timmins, Ontario; an agreement to cover the Nagagami Carbonatite Alkalic Complex, 65 kilometers northwest of Hearst, Ontario; 576 mining claims in Central Newfoundland; and a six-party agreement to acquire approximately 695 mining claims near Hearst, Ontario; The company acquired a precious metal prospect, acquiring 214 claims by staking that span 4,500 hectares in the Way Township after discovering a boulder that contained copper, zinc, gold, and platinum group metals.
Key Projects
Project 81
The Project 81 property spans over 36,400 hectares and is located in the Timmins-Cochrane area of Northern Ontario. It comprises patented mineral rights, in addition to contiguous staked mining claims. The property remains mostly underexplored and is prospective for gold, silver, nickel, cobalt, platinum group metals (PGM), chromium, copper, lead, VMS and zinc deposits. Project 81 is within three kilometers of Glencore’s Kidd Creek zinc-copper-silver mine complex, 30 kilometers from the Porcupine-Destor main break, and within 25 kilometers of the City of Timmins, Ontario. The property is accessible by paved highway and has access to high-voltage transmission lines, hydropower, water, mining personnel and mining service suppliers and contractors.
Boulder Project
Noble Minerals has acquired a copper-precious-metal prospect near Hearst, Ontario, extending from about 4 to 15 kilometers southwest of the town of Hearst. The staked area is equivalent to approximately 4,500 hectares. A 140-kilogram boulder was found in the area containing significant concentrations of base and precious metals which, upon analysis conducted in 2019 by the Ontario Geological Survey, determined that the boulder contained: 71.8 percent copper; 3.5 percent lead, 1.09 percent zinc; 252 grams per ton (g/t) of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/t of platinum and consisted primarily of the mineral cuprite.
Drilling is planned in 2023 to follow up on airborne EM/Mag for Boulder producing more than 70 percent copper.
Nagagami River Carbonatite
First core from Nagagami Complex
Noble acquired an estimated 14,607 hectares, including 695 mining claims, in the Nagagami River area. The carbonatite alkalic complex is positioned approximately 65 kilometers northwest of Hearst, Ontario. Project perspectives are based on magnetic study of the Nagagami land relative to the Niobec mine in Quebec. These geologically similar areas indicate donut-shaped structures with syenitic rocks forming the circular magnetic high, and carbonatitic rocks forming the central magnetic low where niobium and other rare earth mineralization is hosted.
Buckingham Graphite
The Buckingham graphite project comprises 3,700 hectares in the Outaouais area of Western Quebec. A 2022 fieldwork of a two-phase program was conducted to include reprocessing of data from a 2013 survey, property visits to locate trenches, grab samples and drill hole collars. The company has proposed to conduct infill drilling on the property in 2023.
Lucas Twp
Between the 1960s and 1980s, drilling and exploration were conducted at the Lucas gold project. No significant exploration work, however, has been completed on the property since the 1980s. Historic (not NI 43-101 compliant) drill highlights include 9.14 meters grading 3.14 g/t gold and 8.84 meters grading 3.5 g/t gold. The project also has six discrete parallel induced polarization (IP) anomalous trends that require follow-up exploration.
In 2012 and 2018, Noble Mineral completed airborne electromagnetic and magnetic geophysical surveys on the property. The surveys outlined an anomalous gold trend that was followed up with a 3,184-meter drill program over 650 meters of the 1,700-meter strike length. Highlights from the 2018 drill program include 5 meters grading 1.42 g/t gold and 9.5 meters grading 1.84 g/t gold.
The company believes that the gold mineralization at Lucas is structurally controlled and occurs as discrete lenses stacked within the pyrite-gold mineralized tuff unit. Noble Mineral intends to conduct follow-up drilling during future work programs.
Other Projects
- Mann et al Twps: 11,900 hectares in the Timmins area of Northern Ontario, for which it holds the mineral rights focusing on nickel-cobalt-PGM optioned to Canada Nickel
- Dargavel Gold Trend: 7 kilometers strike length with gold results reported
- Lucas Gold: 17 kilometers strike length with gold results reported
- Cere-Villebon: 482 hectares near Val d’Or, Quebec with historic copper-nickel-PGM results on the property with drilling scheduled for winter 2023
- Laverlochere: 518 hectares near Rouyn-Noranda, Quebec follow up work on nickel-copper-cobalt-gold and PGM results from 1960’s
- Havre St Pierre: 10,152 hectares untested nickel, copper, gold prospect
- Central Newfoundland: ~14,400 hectares untested VMS/copper/gold anomaly with a 15-kilometer strike length with airborne EM and Mag for 2023
- Holdsworth Gold: ~304 hectares gold project near Wawa, Northern Ontario
Management Team
H. Vance White - President, CEO and Director
H. Vance White has served as president and director of the company since 2003. He has been actively involved in the mineral exploration and production industry for over 50 years. White has also served as director and officer of several other reporting issuers, including Dickenson Mines, now Goldcorp/Newmont. He was the founder of AfriOre, now owned by Lonmin.
Robert Suttie - CFO
Robert Suttie currently works with Marrelli Support Services as its vice-president. He has more than 20 years of experience, 10 of which were in public accounting prior to his tenure with the Marrelli organization. He specializes in management advisory services, accounting and the financial disclosure needs of Marrelli’s public client base. Suttie also serves as CFO for a number of other junior mining companies listed on the TSX and TSXV, leveraging his skills and experience to become integral to the reporting issuers.
Wayne Holmstead – Exploration Manager
Wayne Holmstead brings Noble Mineral Exploration more than 40 years of exploration experience in Ontario and Quebec. He is a P.Geo who graduated from the University of Toronto holding positions of president, vice-president exploration, exploration manager and director for various junior mining companies over the years and has directed all aspects of mineral exploration in Canada.
He co-discovered and arranged financing for the MacLeod Lake copper-molybdenum-gold-silver deposit in James Bay, Quebec. He outlined 18 million tonnes of copper, molybdenum, gold and silver in the Main Zone, and discovered the South Zone and Rocky Point Zone at Macleod Lake through boulder tracing and beep mat prospecting.
Denis Frawley - Corporate Secretary
Denis Frawley is a corporate and securities lawyer at Ormston List Frawley LLP, where he has been practicing since 2006. He regularly advises companies involved in the mineral resource exploration and mining industries on matters related to corporate law, securities law, corporate governance and related areas. Frawley also routinely advises private and public companies on financings, mergers and acquisitions, joint ventures and general commercial and business matters. In addition, as part of his practice advising public companies, he frequently advises on reverse takeovers and other transformative transactions.
Prior to founding Ormston List Frawley LLP, Frawley was a partner in Toronto at another leading Canadian law firm. He received his bachelors of common and civil law degrees from McGill University and his Bachelor of Social Science in economics from the University of Ottawa. He is permitted to practice in Ontario and New York.
Birks Bovaird - Director
For the majority of his career, Birks Bovaird’s focus has been on the provision and implementation of corporate financial consulting and strategic planning services. He was previously the vice-president of corporate finance for one of Canada’s major accounting firms. He presently is the chairman of Energy Fuels Inc., a premier US-based integrated uranium miner listed on the TSX and NYSE. Bovaird is chairman of GTA Resources and Mining as well as a member of the audit committee. He has been involved with numerous public resource companies, both as a member of management and as a director. He is a graduate of the Canadian Director Education Program and holds the Institute of Corporate Directors (ICD.D) designation.
Michael C. Newbury - Director
Michael Newbury is a professional engineer, banker and project finance specialist with over 30 years of experience in the operation, financing and evaluation of natural resource projects. Newbury’s mining and technical expertise, as well as financial and engineering capabilities, enable the evaluation, assessment, development and operational plans and financial structures that manage project risk, minimize equity requirements and maximize shareholder value.
Newbury has a bachelor’s of science from McGill University, managed Barclays Bank’s World Mining Group and the Credit Suisse Corporate Banking Group. He was one of the initial partners in Endeavour Financial and provided his technical expertise to that group for over 10 years. He has extensive experience in the evaluation and financial structuring of natural resource projects in emerging market countries including Uzbekistan, Kazakhstan, South Africa, China and Venezuela, now Bolivarian Republic of Venezuela. Currently, he operates as an independent consultant and is on the Boards of a number of junior mining companies. He is Noble Mineral Exploration’s designated qualified person (QP) for geological reporting.
Yvan Champagne - Director
As the president of Blue Source Canada, the largest developer and marketer of projects to reduce greenhouse gas (GHG) in Canada, Yvan Champagne oversees project sourcing, offset sales, brokerage and advisory services for the Canadian market. An experienced leader and entrepreneur in carbon markets, Champagne has a great passion for and understanding of environmental technologies and GHG-reduction projects.
His broad experience includes GHG project screening, assessment and contracting, and advising companies and organizations across Canada on sustainable environmental strategies and programs. Champagne brings expertise in government relations, consulting in the energy sector, public affairs and marketing, and growing companies in new markets. Champagne obtained his Bachelor’s of arts in political science from Yale University with a focus on environmental policy and business-government relations. He is also a graduate of the Kellogg-Schulich Executive MBA program.
Dr. Samuel Peralta - Director
Dr. Samuel Peralta has 35 years of business experience in the energy and technology sectors, overseeing business development, product and process innovation and corporate transformation. He holds a PhD in physics, with an industry background in energy, mobile platforms and digital media, advanced sensors and semiconductors. Currently, he is CEO of Windrift Bay, which develops and manages a portfolio of technology and media properties. He was previously director of business and corporate development at Kinectrics, overseeing $70 million annually in high-tech programs for the energy industry.
Previously, he was CEO of Qvadis, a smartphone software provider and CTO for OH Solar, a photovoltaic firm based on an acquisition from Texas Instruments. Peralta served in key positions at Ontario Power Generation and the Ontario Laser and Lightwave Research Centre. He has served on the board of directors of public, private and non-profit firms, with committee leadership in governance, finance and audit, and special projects including mergers and acquisitions. Peralta served on the boards of Qvadis, Envergence, OPEL Solar, Axiom NDT, POET Technologies and the Organization of Canadian Nuclear Industries. He is currently sitting on the boards of Cobalt Blockchain, Noble Mineral Exploration and Windrift Bay.
Stephen Balch – Special Advisor
Stephen Balch, a professional geologist, has over 30 years of experience in mineral exploration as an exploration geophysicist. He is one of Canada’s leading experts on geophysical techniques used to identify nickel-copper sulfide and platinum-group-metal targets. Since 2010, he has served as president and a director of Triumph Instruments, a company that conducts airborne time-domain electromagnetic surveys in North America, China and Mexico.
Since 2001, he has been president of Balch Exploration Consulting, a company that provides consulting services to major mining and junior exploration companies. From 2007 to 2015, Balch served as the president and a director of Canadian Mining Geophysics, a geophysical data recording company. He currently serves as vice-president of exploration for Canada Nickel.
Dr Ed van Hees - Consultant
Dr. Ed van Hees is a registered professional geoscientist with over 40 years of domestic and international experience working in, exploring for, and doing research on the origin and geochemistry of Orogenic gold deposits. He has worked as an exploration field geologist, mine geologist, exploration manager, consulting geologist, research scientist and professor of geology. Most recently, van Hees was employed as the Regional Resident Geologist responsible for the Timmins and Sault Ste Marie Mining Districts with the Ontario Geological Survey Resident Geology Program. Here he supervised the professional staff and authored / co-authored 7 Annual Reports of Activity and 10 Recommendations for Exploration between 2016 and 2020. Starting in 2019 he was employed as a professor for the Haileybury School of Mines where he has taught and helped develop seven geology, geochemistry, geophysics and environmental courses. From 2001 to 2015, van Hees was a professor of geology at Wayne State University in Detroit, Michigan, where taught core geology courses including mineralogy, petrology, structural geology and exploration / economic geology, as well as conducting research on the geochemistry and structural geology of orogenic gold deposits, and the geochemistry of metal pollution. In total, he has authored/co-authored 36 publications.
Noble and Canada Nickel Announce Spin-out of Mann Twp JV and Acquisition of Eastern Exploration Properties
Noble has exercised all underlying options with Optionors on the Mann Twp properties
Consolidation of the Canada Nickel-Noble joint venture in Mann Township into a single private company for a future public listing
Transfer by Canada Nickel of several exploration properties east of Timmins
Transfer by Noble of several mining claims and patented mineral properties to Canada Nickel, as well as the right acquire surface rights that could be used within and around the Crawford Project
Provision of certain non-dilutive exploration funding requirements to be provided to the private company by Canada Nickel
Both Canada Nickel and Noble will retain their respective NSR's and NSR buy back rights where applicable
TORONTO, July 8, 2024 – Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce that it has signed a Binding Letter of Intent (the "LOI") with Canada Nickel Inc. ("Canada Nickel") whereby Noble and Canada Nickel will spin-out certain mining claims (the "Properties") into a new company to consolidate their interests in large tonnage, low grade nickel projects east of Timmins, Ontario.
The terms and conditions of the LOI between Canada Nickel and Noble will include:
(i) The creation of a private exploration company described herein as "ExploreCo", whereby Noble and Canada Nickel both transfer their interests in mining claims in Mann Township (the "Mann Property")
(ii) The transfer from Noble to Canada Nickel of certain mining claims and the transfer from Canada Nickel to ExploreCo of certain mining claims east of Timmins,
(iii) Canada Nickel providing initial flowthrough and hard dollar funding of $5 million from existing cash on-hand to ExploreCo, to be directed to exploration of the properties transferred into ExploreCo, After this initial funding, ExploreCo will be owned 80% by Canada Nickel and 20% by Noble Mineral Exploration and each Company will be responsible for their pro-rata share of funding.
(iv) The transfer by Noble of the right to acquire certain surface rights over the Noble Project 81 area that includes Canada Nickel's Crawford Project,
(v) The retention of underlying NSR and buy-back rights to Noble, Canada Nickel and any underlying NSR owners,
(vi) The retention of certain exploration rights by Noble on the transferred Project 81 claims and patents for non-nickel opportunities.
The transactions under the LOI remain subject to the parties negotiating a definitive agreement, as well as to compliance with legal requirements and any requirements of the TSX Venture Exchange. As such, Noble and Canada Nickel will announce further details as work on the transaction proceeds.
Commenting on the transaction under the LOI, Vance White, CEO of Noble said, "We felt that consolidating the eastern properties into a separate exploration company would maximize the value of the Mann Twp properties without incurring significant upfront dilution to Noble, and at the same time gain exposure to additional identified nickel sulphide targets in the Timmins camp in which Noble currently has no interest. ExploreCo will control ~1,989 mining claims totaling over 42,000 ha and will include Reaume, Mann and Newmarket Townships as well as McCool, Moody, Galna and other properties currently held by Canada Nickel. Noble will vend its interest in Project 81, together with the right to acquire surface rights over Project 81. For properties transferred from Noble to Canada Nickel, Noble will retain a 5-year exploration right to any non-nickel exploration target therein. This 5-year exploration right will be subject to an annual exploration right thereafter upon both parties' consent. Noble intends to use its best efforts so that -upon ExploreCo going public, a portion of Noble's holdings in ExploreCo will be distributed to Noble shareholders in order that they may have a direct benefit as ExploreCo advances all underlying properties to the development stage, although that is a future event and we cannot provide any assurances that this will be done".
The properties that would be held by ExploreCo include:
Figure 1 – Mann Northwest and Central – CNC Drillholes Over Total Magnetic Intensity.
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Figure 2 – NewMarket - CNCDrill Holes Over Total Magnetic Intensity
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Figure 3 - Newmarket – Mann Southeast targets
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Figure 4 – Moody, Mortimer and Stimson Properties
Moody is located 85 km northeast of Timmins and was staked by Canada Nickel (1,940 ha)
Mistango River Mines (1964) and Utah Mines Ltd. (1984) drilled 34 diamond holes and several reverse circulation holes, respectively, but the results were either not provided on MLAS or the core was not recovered
The ultramafic is interpreted to have dimensions of 4.2 km long by up to 700 metres wide
Mortimer is located 80 km northeast of Timmins and includes two ultramafic intrusions that cover a total distance of 10 km and was staked by Canada Nickel (2,732 ha)
The main intrusion has dimensions of 1.8 km long, up to 400 metres wide and has never been intersected by drilling
The secondary intrusion, although longer in strike extent, does not show the same high intensity in the TMI but does have three locally high responses within the intrusion, none of which appears to have been drilled
Stimson is located 82 km northeast of Timmins and encompasses a weakly magnetic ultramafic body having a strike length of at least 2 km and with a higher amplitude TMI of 400 metres long
The ultramafic is interpreted to be a more distal extension of more strongly magnetic ultramafics found in Mortimer and Moody Townships
Figure 5 – ExploreCo Properties
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Statement Regarding TSX Venture 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.
The completion of any transactions mentioned in this release is subject to customary closing conditions, including final TSX Venture Exchange approval.
Qualified Persons and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and 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 Canada Nickel Company Inc.
Michael Newbury PEng (ON), a "qualified person" as 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 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 ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20% interest in ~11,000 hectares in the Timmins area and ~175 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. Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets . Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. Canada Nickel's common shares trade on the TSX Venture Exchange under the symbol "CNC".
For more information, please visit www.canadanickel.com.
Cautionary Statement Concerning Forward-Looking Statements
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.co m
Copyright (c) 2024 TheNewswire - All rights reserved.
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Noble Minerals Initiates Temporarily Delayed Drill Program in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario.
(TheNewswire)
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Toronto, Ontario TheNewswire - July 2, 2024 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that after a delay due to inclement weather, Noble is now ready to initiate their drill program. Extreme hot, dry weather in mid June gave way to thunderstorms and in some cases tornadoes. Noble was concerned with potential forest fire risk and the health and welfare of their workers. With the coming of more stable weather in July, the company is now ready to start the drill program.
The drill program is planned on 214 claims in Way Township. The claims extend from about 4 to 15 km southwest of the town of Hearst, Ontario. The property area is equivalent to approximately 4,500 hectares or 45 sq km. The drill program follows geophysical surveys done to identify targets that may be the source of the mineralized boulder. The recent geophysical program was partially funded by the Ontario Junior Exploration Program and application has been made to the same program to fund the drill program. The Program will fund up to $200,000 on a $400,000 exploration program.
The mineralized boulder was on display at the highly successful Canadian Mining Expo in Timmins, Ontario in June.
Historically, a sample of a metalliferous boulder, brought to the Timmins Mining District Regional Resident Geologist in 2019 by a Mr. A. Cousineau, was submitted for chemical analysis to Geolabs in Sudbury to establish its metal and mineralogical makeup. Geolabs determined that the boulder contained: 71.8% copper; 3.5% lead, 1.09% zinc; 252 g/t of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/t of platinum and consisted primarily of cuprite (van Hees et al., 2020).
In 2021, Noble launched an exploration program to in an effort to identify the source of the boulder. Basal till samples collected from two fences of hand auger holes, located about 100 m and 1 km north of the boulder, produced 35 gold grains . These gold grains define a southeast-northwest trending dispersion train that indicate they were transported southeast by a glacial transport from a source area located to the northwest. The dispersion train begins near a northeast trending magnetic anomaly. The gold grains are predominantly reshaped (24) but also include modified (7) and pristine (4), supporting evidence of a local source.
In 2022 an airborne geophysical survey was flown over the property followed by a ground geophysical survey in November/December 2023. The ground geophysical surveys included 29 line-kilometers of Magnetic, VLF-EM and Induced Polarization Survey. The airborne data was successful in outlining a significant northeast trending magnetic high unit that was traced from the southwest section of the survey block to the northeast corner of the survey block. Compilation of the ground based; detailed magnetic survey was done to highlight the northwest trending fault structure that coincides with the location of the boulder. This structure extends at least 1,100 meters and is represented by a modest magnetic low signature commencing at the southeast corner of the grid. The structure can be traced across the grid, generally lying along the northern bank of the river, and has offset the modest magnetic high units in the same area. The western edge of the suspected fault terminates next to a northeast-southwest striking cross fault that also affects the strike of the river.
The approximate location of the mineralized, Cousineau Boulder appears to coincide with a slight bullseye high at the southeast end of one of the northwest striking cross dike like features. The dashed line is suggested at being a possible cross fault system . ( See Figure 1) .
The initial drill holes will be focussed in the vicinity of the boulder location in order to better understand the physical and fault related geology as defined by geophysics done in the Fall of 2023 (Figure 1). Additional drilling will be focussed on various chargeability and conductive anomalies detected during the recent ground surveys.
Click Image To View Full Size
Figure 1: Location of the boulder and initial drill holes (DDH) with identified faulting on detailed magnetic background.
Vance White, President and CEO of Noble, said "we are pleased with the progress on this property and to finally get underway the proposed drill program, the results of which may give us more clues as to the possible source of this rich boulder. While the odds are long, if successful, it could result in a significant find."
Figure 2 : Photo of the Cousineau Boulder
References:
van Hees, E.H., P. Bousquet, J. Suma-Momoh, C.M. Daniels, S.L.K. Hinz, C. Boucher, P. Sword, L. Wang, S.P. Fudge, A. Millette and C. Patterson, 2020. Report of Activities 2019, Resident Geologist Program, Timmins Regional Resident Geologist Report: Timmins and Sault Ste. Marie Districts; Ontario Geological Survey, Open File Report 6366, 160p.
Wayne Holmstead P.Geo (ON), a "qualified person" as 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., Homeland Nickel Inc., Go Metals Corp. and Lode Gold Resources Inc . , 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 20% interest in ~11,000 hectares in the Timmins area and ~175 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, 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".
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
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Noble Minerals Initiates Temporarily Delayed Drill Program in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario
(TheNewswire)
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Toronto, Ontario TheNewswire - July 2, 2024 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that after a delay due to inclement weather, Noble is now ready to initiate their drill program. Extreme hot, dry weather in mid June gave way to thunderstorms and in some cases tornadoes. Noble was concerned with potential forest fire risk and the health and welfare of their workers. With the coming of more stable weather in July, the company is now ready to start the drill program.
The drill program is planned on 214 claims in Way Township. The claims extend from about 4 to 15 km southwest of the town of Hearst, Ontario. The property area is equivalent to approximately 4,500 hectares or 45 sq km. The drill program follows geophysical surveys done to identify targets that may be the source of the mineralized boulder. The recent geophysical program was partially funded by the Ontario Junior Exploration Program and application has been made to the same program to fund the drill program. The Program will fund up to $200,000 on a $400,000 exploration program.
The mineralized boulder was on display at the highly successful Canadian Mining Expo in Timmins, Ontario in June.
Historically, a sample of a metalliferous boulder, brought to the Timmins Mining District Regional Resident Geologist in 2019 by a Mr. A. Cousineau, was submitted for chemical analysis to Geolabs in Sudbury to establish its metal and mineralogical makeup. Geolabs determined that the boulder contained: 71.8% copper; 3.5% lead, 1.09% zinc; 252 g/t of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/t of platinum and consisted primarily of cuprite (van Hees et al., 2020).
In 2021, Noble launched an exploration program to in an effort to identify the source of the boulder. Basal till samples collected from two fences of hand auger holes, located about 100 m and 1 km north of the boulder, produced 35 gold grains . These gold grains define a southeast-northwest trending dispersion train that indicate they were transported southeast by a glacial transport from a source area located to the northwest. The dispersion train begins near a northeast trending magnetic anomaly. The gold grains are predominantly reshaped (24) but also include modified (7) and pristine (4), supporting evidence of a local source.
In 2022 an airborne geophysical survey was flown over the property followed by a ground geophysical survey in November/December 2023. The ground geophysical surveys included 29 line-kilometers of Magnetic, VLF-EM and Induced Polarization Survey. The airborne data was successful in outlining a significant northeast trending magnetic high unit that was traced from the southwest section of the survey block to the northeast corner of the survey block. Compilation of the ground based; detailed magnetic survey was done to highlight the northwest trending fault structure that coincides with the location of the boulder. This structure extends at least 1,100 meters and is represented by a modest magnetic low signature commencing at the southeast corner of the grid. The structure can be traced across the grid, generally lying along the northern bank of the river, and has offset the modest magnetic high units in the same area. The western edge of the suspected fault terminates next to a northeast-southwest striking cross fault that also affects the strike of the river.
The approximate location of the mineralized, Cousineau Boulder appears to coincide with a slight bullseye high at the southeast end of one of the northwest striking cross dike like features. The dashed line is suggested at being a possible cross fault system . ( See Figure 1) .
The initial drill holes will be focussed in the vicinity of the boulder location in order to better understand the physical and fault related geology as defined by geophysics done in the Fall of 2023 (Figure 1). Additional drilling will be focussed on various chargeability and conductive anomalies detected during the recent ground surveys.
Click Image To View Full Size
Figure 1: Location of the boulder and initial drill holes (DDH) with identified faulting on detailed magnetic background.
Vance White, President and CEO of Noble, said "we are pleased with the progress on this property and to finally get underway the proposed drill program, the results of which may give us more clues as to the possible source of this rich boulder. While the odds are long, if successful, it could result in a significant find."
Figure 2 : Photo of the Cousineau Boulder
References:
van Hees, E.H., P. Bousquet, J. Suma-Momoh, C.M. Daniels, S.L.K. Hinz, C. Boucher, P. Sword, L. Wang, S.P. Fudge, A. Millette and C. Patterson, 2020. Report of Activities 2019, Resident Geologist Program, Timmins Regional Resident Geologist Report: Timmins and Sault Ste. Marie Districts; Ontario Geological Survey, Open File Report 6366, 160p.
Wayne Holmstead P.Geo (ON), a "qualified person" as 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., Homeland Nickel Inc., Go Metals Corp. and Lode Gold Resources Inc . , 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 20% interest in ~11,000 hectares in the Timmins area and ~175 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, 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".
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
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Noble Acquires Mann Twp Claims and Spruce Ridge Units, and Agrees to Purchase Interest in Carnegie Twp Claims
(TheNewswire)
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Toronto, Ontario TheNewswire - June 11, 2024 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to provide the following updates:
News Provided by TheNewsWire via QuoteMedia
Noble Minerals Plans to Drill in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario
(TheNewswire)
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Toronto, Ontario TheNewswire - May 28, 2024 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTCQB:NLPXF) is pleased to announce that the company has plans to execute a drill program on 214 claims in Way Township commencing in mid-Jine. The claims extend from about 4 to 15 km southwest of the town of Hearst, Ontario. The property area is equivalent to approximately 4,500 hectares or 45 sq km. The drill program follows geophysical surveys done to identify targets that may be the source of the mineralized boulder. The recent geophysical program was partially funded by the Ontario Junior Exploration Program and application has been made to the same program to fund the drill program. The Program will fund up to $200,000 on a $400,000 exploration program.
The mineralized boulder will be on display at the Canadian Mining Expo in Timmins, Ontario on June 5th and 6th and a representative of Noble Mineral Exploration will be there to answer your questions. (https://virtex.canadianminingexpo.com/)
Historically, a sample of a metalliferous boulder, brought to the Timmins Mining District Regional Resident Geologist in 2019 by a Mr. A. Cousineau, was submitted for chemical analysis to Geolabs in Sudbury to establish its metal and mineralogical makeup. Geolabs determined that the boulder contained: 71.8% copper; 3.5% lead, 1.09% zinc; 252 g/t of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/t of platinum and consisted primarily of cuprite (van Hees et al., 2020).
In 2021, Noble launched an exploration program to in an effort to identify the source of the boulder. Basal till samples collected from two fences of hand auger holes, located about 100 m and 1 km north of the boulder, produced 35 gold grains . These gold grains define a southeast-northwest trending dispersion train that indicate they were transported southeast by a glacial transport from a source area located to the northwest. The dispersion train begins near a northeast trending magnetic anomaly. The gold grains are predominantly reshaped (24) but also include modified (7) and pristine (4), supporting evidence of a local source.
In 2022 an airborne geophysical survey was flown over the property followed by a ground geophysical survey in November/December 2023. The ground geophysical surveys included 29 line-kilometers of Magnetic, VLF-EM and Induced Polarization Survey. The airborne data was successful in outlining a significant northeast trending magnetic high unit that was traced from the southwest section of the survey block to the northeast corner of the survey block. Compilation of the ground based; detailed magnetic survey was done to highlight the northwest trending fault structure that coincides with the location of the boulder. This structure extends at least 1,100 meters and is represented by a modest magnetic low signature commencing at the southeast corner of the grid. The structure can be traced across the grid, generally lying along the northern bank of the river, and has offset the modest magnetic high units in the same area. The western edge of the suspected fault terminates next to a northeast-southwest striking cross fault that also affects the strike of the river.
The contour plan map of the first vertical derivative of the total field magnetic definitely enhances the northeast striking magnetic high feature as well as the numerous northwest-southeast narrow crosscutting high features. The approximate location of the mineralized, Cousineau Boulder appears to coincide with a slight bullseye high at the southeast end of one of the northwest striking cross dike like features. The white line is suggested at being a possible cross fault system . ( See Figure 1 and 2 below) .
Click Image To View Full Size
Figure 1: First Vertical Derivative of the airborne geophysical survey showing
location of the Cousineau Boulder and a possible cross fault structure (white line)
Click Image To View Full Size
Figure 2: Location of the boulder with cross fault on detailed magnetic background.
The drill program will initially focus on the cross-fault structure in the vicinity of the boulder.
Vance White, President and CEO of Noble, said "we are pleased with the progress on this property and look forward to the results of the drill program that may give us more clues as to the possible source of this rich boulder. While the odds are long, if successful it could result in a significant find."
Figure 3: Photo of the Cousineau Boulder
References:
van Hees, E.H., P. Bousquet, J. Suma-Momoh, C.M. Daniels, S.L.K. Hinz, C. Boucher, P. Sword, L. Wang, S.P. Fudge, A. Millette and C. Patterson, 2020. Report of Activities 2019, Resident Geologist Program, Timmins Regional Resident Geologist Report: Timmins and Sault Ste. Marie Districts; Ontario Geological Survey, Open File Report 6366, 160p.
Wayne Holmstead P.Geo (ON), a "qualified person" as 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., 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 20% interest in ~11,000 hectares in the Timmins area and ~175 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, 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".
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
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Drilling Delivers 10.2m @ 2.3% CuEq, and DHEM Expands Further Potential in all Three Directions at Horden Lake
Highlights
- Shallow drilling delivers 10.2m @ 2.3% CuEq1 in HN-24-103
- Sits within wider 28.6m @ 1.05% CuEq from 74m.
- Expands the width of expected mineralisation in the open pit zone of the deposit.
- Assays confirm 270m down-plunge continuity from surface, linking with previously reported HN-24-100
- 14.6m @ 0.84% CuEq from 272m, incl 5.7m at 1.41% CuEq in HN-24-104.
- 7.3m @ 0.78% CuEq from 165m, and 13.2m @ 0.77% CuEq from 180.1m in HN-24-102.
- Up to 600m SW extended zone now defined by both DHEM and drilling as having strong potential for down-plunge extensions
- HN-24-104 off-hole conductor extends 170m down-dip, for a potential 400m total depth extent, which may remain open.
- Plates continue to extend the mineralised zones and connect with previously reported drilling and plates in HN-24-96,-97 and -98, highlighting the potential for southern zone mineralisation continuity from the central zone.
- Infill delivers continuity of mineralisation within the 2022 resource open pit shell
- 15.6m @ 0.88% CuEq from 121m, incl 5.7m @ 1.41% CuEq in HN-24-101.
- All intersections show mineralisation in Au, Ag, PGM and Co by-products never previously assayed in this area, and represent important upside to the metal endowment reported in the 2022 mineral resource estimate.
- Assays from 21 holes remain pending, including multiple step-out and DHEM results across zones of open mineralisation.
Managing Director, Mr Fairhall said:
“Horden Lake continues to deliver - from both step-out, and infill from historical drilling. In the shallow areas, results indicate excellent continuity, in places widening, of expected mineralisation, along with a suite of valuable by-products which were overlooked in previous drilling.
Excitingly, deeper drilling and DHEM again combine to show excellent down plunge continuity of the deposit, and the huge potential for it to continue at depth. We now have a zone over 600m extending the mineralisation strike length that exhibits strong potential for expansive down-plunge extension with further drilling, potentially similar to that observed in the central zone which extends to over 490m vertical (and remains open).
Overview
Horden Lake is a copper dominant Cu-Ni-Au-PGM-Co Project located 131km north-northwest of Matagami, in Quebec Canada. The Project hosts an indicated and inferred mineral resource estimate of 28mt at 1.5% CuEq, as a result of over 52,464m of drilling previously completed on the property. Pivotal has recently completed a 7,097m / 34 hole diamond drilling campaign of which 1,800m / 9 holes have been reported prior to this announcement.
The objectives of the drilling program were to infill missing by-product multi-element assay information, target resource expansion potential (which remains open at depth across its full extent) and collect a distribution of metallurgical sample for a complete test work program. Downhole EM surveys have also been completed to dimension future exploration potential and targeting.
Figure 1: Drill plan map with significant 2024 results, Horden Lake Cu-Ni-Au-PGM Project
Click here for the full ASX Release
This article includes content from Pivotal Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Blackstone Minerals
Investor Insights
Blackstone Minerals is well-positioned to leverage a projected nickel supply deficit as it strives to become a vertically integrated producer of low-cost, low-carbon, battery-grade nickel. Key to this is Blackstone’s Ta Khoa project in Vietnam, an emerging hub for the electric vehicle market.
Overview
As the world moves closer to a sustainable net-zero future, the need for battery metals continues to mount and nickel may soon be among the metals to see a supply crunch. Though its roots are in the stainless steel sector, it's also a critical component of lithium-ion batteries.
Given that many nations are aiming to replace combustion vehicles with electric cars by 2030, the metal is already experiencing a massive spike in demand. Benchmark Minerals expects the need for battery-grade nickel will increase about 950 percent by 2040.
It's imperative to ramp up global nickel production but the resource sector, for its part, must do so with a much-reduced carbon footprint to influence the sustainability of the entire value chain. Blackstone Minerals (ASX:BSX,OTC:BLSTF,FRA:B9S) recognizes this. As a vertically integrated producer of low-cost, low-carbon nickel, the company aims to become a leading source of low CO2 emission nickel sulphide. Its flagship Ta Khoa project in Vietnam is representative of that goal.
Blackstone Minerals business structure schematic
With over 20 active mines and a burgeoning technology sector, Vietnam is on the road to becoming a hub of electric vehicle production and innovation, with low labor costs and regulated electricity pricing further driving its growth. Steadily increasing foreign direct investment in the region is indicative of this as the country seeks to attract $50 billion in new foreign investment by 2030.
Blackstone is uniquely positioned to take advantage of this, thanks to two factors. US President Joe Biden's Inflation Reduction Act, which came into force in August 2022, represents the largest investment into climate action in United States history. A similar initiative is rolling out in the European Union (EU), which maintains a Free Trade Agreement with Vietnam — something multiple partners of the company have expressed interest in.
Blackstone's Ta Khoa Project consists of two streams, the Ta Khoa Nickel Mine and the Ta Khoa Refinery. Recent milestones point to Blackstone’s commitment to advancing this game-changing project.
These milestones include a memorandum of understanding with Cavico Laos Mining to collaborate in a number of areas associated with CLM’s nickel mine in Lao People's Democratic Republic and supply of nickel products for Blackstone’s Ta Khoa Refinery in Vietnam.
Blackstone also partnered with Arca Climate Technologies to further investigate the carbon capture potential at the Ta Khoa Project through carbon mineralisation, and explore opportunities to utilise Arca’s carbon capture technologies within the project.
In a bid to collaborate on the supply of renewable wind energy to the Ta Khoa Project, Blackstone signed a direct power purchase agreement with Limes Renewables Energy.
Blackstone received AU$2.8 million as an advance from a research & development (R&D) lending fund backed by Asymmetric Innovation Finance and Fiftyone Capital. The advanced payment reflects the significant investment by Blackstone to develop the Ta Khoa Refinery process and Blackstone’s unique strategy to convert nickel concentrate blends into battery products in the form of precursor cathode active material (pCAM).
In December 2023, Blackstone entered into an option agreement with CaNickel Mining to acquire the Wabowden nickel projectlocated in the world-class Thompson Nickel Belt in Manitoba, Canada.
The Wabowden project will have the potential to fill the Ta Khoa Refinery, removing dependence on third party feed sources.
The company has signed a non-binding MOU with the Development for Resources Environmental Technology joint stock company (DRET) to investigate opportunities to repurpose and trade waste material (or residue) from the Ta Khoa Refinery into construction material products. Moreover, it has also progressed the Ta Khoa Refinery byproduct offtake strategy with Vietnam Chemical Group (VinaChem), PV Chemical and Equipment Corporation (PVChem) and Nam Phong Green Joint Stock Company (Nam Phong) to sell Ta Khoa Refinery byproducts, being manganese sulphate (or epsomite) and sodium sulphate.
As the company plans to build a global nickel business, Blackstone signed a non-binding memorandum of understanding with Yulho Co. Ltd (Yulho) and EN Plus Co. Ltd (EN Plus) to establish a collaboration across the businesses including EN Plus and Yulho who are in joint venture on the Ntaka Hill nickel sulphide project in Tanzania, and the Dinagat Island nickel laterite project in the Philippines.
Company Highlights
- The global nickel market is currently entering a structural deficit, with demand expected to grow 950 percent by 2040.
- Blackstone Minerals is well-positioned to address this deficit as a vertically integrated producer of low-cost, low-carbon nickel.
- Blackstone's flagship project Ta Khoa is a brownfield project situated in Vietnam, one of the lowest capital cost countries in the world and an emerging hub for the electric vehicle market with vast reserves of nickel.
- Vietnam is an increasingly attractive region for investment with direct foreign investments that grew from $1.3 billion in 2000 to $15.6 billion in 2020.
- The Ta Khoa project also has infrastructure advantages, via the existing Ban Phuc mine, and processing facilities, access to low-cost and underutilized hydroelectricity, a trained labor force and support from the local government.
- Blackstone Minerals’ downstream pre-feasibility study confirms a technically and economically robust hydrometallurgical refining process to upgrade nickel sulphide concentrate to produce battery-grade nickel.
- Blackstone’s key nickel and cobalt feedstocks for the Ta Khoa Refinery Pilot program were delivered to the metallurgical laboratory in Western Australia as of April 2022.
Key Project
Ta Khoa
Blackstone holds a 90 percent interest in the Ta Khoa Nickel-Copper-PGE Project, located 160 kilometers west of Hanoi in the Son La Province of Vietnam. It includes an existing modern nickel mine built to Australian Standards, which is currently under care and maintenance. The Ban Phuc nickel mine successfully operated as a mechanized underground nickel mine from 2013 to 2016.
Blackstone intends to complement the existing mine through the installation of a large concentrator, refinery and precursor facility, supporting integrated on-site production of nickel, cobalt and manganese precursor products for the Asia-Pacific market. One of Blackstone's key Research and Development objectives with Ta Khoa is to develop a flowsheet that will support this production.
To fulfill this goal, Blackstone is focusing on a partnership model, collaborating with groups committed to sustainable mining. It is also working to minimize its carbon footprint and implement a vertically integrated supply chain.
Project Highlights:
- Multiple Massive Sulphide Deposits: The Ta Khoa project features several incredibly promising deposits including King Snake (up to 4.3 percent nickel and 18.2 grams per ton (g/t) PGE), Sui Phong (2.95 meters @ 2.42 percent nickel, 0.52 percent copper, 0.06 percent cobalt and 0.05 g/t PGE), and Ban Chang. The project is also the site of the Ban Phuc nickel mine, which was operated from 2013 to 2016 by Asia Mineral Resources, along with several exploration targets that have yet to be tested.
- Experienced Leadership: Internally, Blackstone’s owners’ team brings over 50 years of experience in leadership roles at major nickel mines and refineries globally. This experience has been complemented by ALS Group, Wood, Future Battery Industries CRC, Curtin University and the Electric Mining Consortium.
- Large Reserve and Mining Inventory: The entirety of Ta Khoa is estimated to contain probable reserves of 48.7 Mt at 0.43 percent nickel for 210 kilotons (kt) of nickel and a mining inventory of 64.5 Mt at 0.41 percent nickel for 265 kt nickel. This excludes Ban Khoa and other developing prospects.
- A Long-lived Project: The Ta Khoa mine is expected to produce a yearly average of 18 kt of annual nickel concentrate over its ten-year lifespan. Blackstone believes the refinery can potentially extend its life past ten years.
- An Established Mining Operation: Existing infrastructure onsite includes a 450 ktpa Mill and mining camp. The mine will also benefit from a highly supportive community and favorable government legislation — Blackstone is committed to collaborating with community stakeholders in the project's development.
- Feed Flexibility: Ta Khoa's refinery will offer multiple feed options, including nickel concentrate, mixed hydroxide precipitate, nickel matte and black mass. This flexibility greatly improves the security and greatly reduces the risk of the project overall.
- Valued Partnerships: Blackstone is collaborating with multiple industry leaders and groups in the development of Ta Khoa
- Compelling Pre-feasibility Study: The financial outcomes of a base case pre-feasibility study on the project are promising. Based on a conservative NCM811 precursor price forecast, Ta Khoa displays an exceptional internal return rate on capital invested.
- Integrated Vertical Strategy: Blackstone is constructing both the Ta Khoa mine and refinery against a highly supportive ESG, macroeconomic and fiscal backdrop. This along with Ta Khoa's low capital intensity gives the company a significant advantage over competitors. Said low intensity is the result of multiple factors, including competitive labor costs, favorable regulations and low-cost renewable hydroelectric power.
- A Leader in Low Emissions: Independent assessments from Digbee, Minviro and Circulor, alongside an audit from the Nickel Institute, have confirmed that Ta Khoa will be the lowest-emitting flowsheet in the industry, at 9.8 kilograms of CO2 per kilogram of precursor with opportunities for even further reduction.
- Promising Pilots: With the support of ALS and process engineering partner Wood, Blackstone recently completed a 12-month programme of work that developed a scaled version of its concentrate to sulphate flowsheet. The refinery, which processed more than 9 tonnes of concentrate and MHP, successfully achieved battery-grade nickel sulphate of 99.95 percent, with a nickel recovery rate of 97 percent.
- Current Roadmap: Blackstone's next priority is to complete a series of definitive feasibility studies. Once those are complete, it will focus on fully integrating the mine into the electric vehicle consumer supply chain and finalizing its refining partnership structure.
Management Team
Hamish Halliday - Non-executive Chairman
Hamish Halliday is a geologist with over 20 years of corporate and technical experience. He is also the founder of Adamus Resources Limited, an AU$3 million float that became a multimillion-ounce emerging gold producer.
Scott Williamson - Managing Director
Scott Williamson is a mining engineer with a commerce degree from the West Australian School of Mines and Curtin University. He has over 10 years of experience in technical and corporate roles in the mining and finance sectors.
Dr. Frank Bierlein - Non-executive Director
Dr. Frank Bierlein is a geologist with 30 years of technical and corporate experience, focusing on grassroots to mine-stage mineral exploration, target generation, project management and oversight, due diligence studies, mineral prospectivity analysis, metallogenic framework studies and mineral resources market and investment analysis.
Alison Gaines - Non-executive Director
Alison Gaines has over 20 years of experience as a director in Australia and internationally. She has experience in the roles of board chair and board committee chair, particularly remuneration and nomination and governance committees. She is also the managing director of Gaines Advisory P/L and was recently global CEO of international search and board consulting firm Gerard Daniels, with a significant mining and energy practice.
Gaines has a Bachelor of Laws and a Bachelor of Arts (hons) from the University of Western Australia, a Graduate Diploma in Legal Practice from Australian National University and an honorary doctorate of the University and Master of Arts (Public Policy) from Murdoch University. She is a fellow of the Australian Institute of Company Directors and holds the INSEAD certificate in corporate governance. She is currently the governor of the College of Law Ltd, and non-executive director of Tura New Music.
Dan Lougher - Non-executive Director
Daniel Lougher’s career spans more than 40 years involving a range of exploration, feasibility, development, operations and corporate roles with Australian and international mining companies including a period of eighteen years spent in Africa with BHP Billiton, Impala Plats, Anglo American and Genmin. He was the managing director and chief executive officer of the successful Australian nickel miner Western Areas Ltd until its takeover by Independence Group.
Lougher also holds a first class mine manager’s certificate of competency (WA) and is a fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). Lougher is the chair of the company’s technical committee and nomination committee.
Jamie Byrde - CFO and Company Secretary
Jamie Byrde has over 16 year's experience in corporate advisory, public and private company management since commencing his career with big four and mid-tier chartered accounting firms positions. Byrde specializes in financial management, ASX and ASIC compliance and corporate governance of mineral and resource focused public companies. He is also currently company secretary for Venture Minerals Limited.
Tessa Kutscher - Executive
Tessa Kutscher is an executive with more than 20 years of experience in working with C-Level executive teams in the fields of business strategy, business planning/optimisation and change management. After starting her career in Germany, she has worked internationally across different industries, such as mining, finance, tourism and tertiary education.
Kutscher holds a master’s degree in literature, linguistics and political science from the University of Bonn, Germany and a master’s degree in teaching from Ludwig Maximilian University of Munich.
Andrew Strickland - Executive
Andrew Strickland is an experienced study and project manager, a fellow of the Australian Institute of Mining and Metallurgy, University of WA MBA graduate, with undergraduate degrees in chemical engineering and extractive metallurgy from Curtin and WASM.
Before joining Blackstone, Strickland was a senior study manager for GR Engineering Services where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects. Over his career, he has held a variety of project development roles across both junior to mid-tier developers (including Straits Resources, Perseus Mining and Tiger Resources) and major multi-operation producers (South32).
Graham Rigo - Executive
Graham Rigo is an experienced study manager with over a decade of on-site production experience, holding undergraduate degrees in chemical engineering and finance from Curtin University, WA.
Before joining Blackstone, Rigo was a study manager for Ausenco where he was responsible for delivering a series of scoping, PFS and DFS studies for both Australian and international projects over a range of different commodities.
Rigo has over 11 years of site experience in nickel and cobalt hydromet production experience, in supervisory/superintendent level roles as well as process engineer experience.
Lon Taranaki - Executive
Lon Taranaki is an international mining professional with over 25 years of extensive experience in all aspects of resources and mining, feasibility, development and operations. Taranaki is a qualified process engineer from the University of Queensland Australia. He holds a Master of Business Administration, and is a fellow of the Australian Institute of Company Directors. Taranaki has established his career in Asia where he has successfully worked (and lived) across multiple jurisdictions and commodities ranging from technical, mine management and executive management roles.
Prior to joining Blackstone in February 2022, Taranaki was the chief executive officer of Minegenco, a renewable-energy-focused independent power producer. Preceding this, he was managing director of his private consultancy, AMG Mining Global, where he was providing services to the mining industry in Singapore, Guyana, Indonesia and Cambodia. Additionally, Taranaki has held various senior positions with Sakari Resources, PTT Asia Pacific Mining, Straits Resources, Sedgmans and BHP Coal.
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