(TheNewswire)
Highlights
Noble Mineral Exploration Inc. ( “Noble” or the “Company” ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) announces that effective as of August 13 , 202 4 (the “ Date of Grant ”), the Company’s Board approved the grant of a total of 4,300 ,000 stock options (the “ Options ”) and 2,540 ,000 restricted share units (“ RSUs ”) to officers, directors, and certain consultants of the Company. The Options were granted for services rendered and to be rendered . 150 ,000 of the Options were granted to a party who provides investor relations services to the Company, and therefore vest in tranches of 25% every three months. The balance of the Options vest immediately. The RSUs, which vest one year after the Date of Grant, were granted for services to be rendered over the next year. The Options and RSUs were granted pursuant to the Amended and Restated 2022 Equity Incentive Plan approved at the Company’s shareholder meeting on February 2 8 , 202 4 .
The Options have an exercise price of $0. 05 per common share of Noble and are exercisable for three years from the Date of Grant. Out of the total number of Options and RSUs granted, 2 , 85 0,000 Options and 2, 3 00,000 RSUs were granted to directors and officers of the Company. Upon being fully vested, the RSUs may be settled in the corresponding number of common shares of the Company, in the cash equivalent of those shares, or in a combination of shares and cash .
The grant of Options and RSUs is subject to compliance with TSX Venture Exchange requirements. Following the grant of Options and RSUs, the Company has a total of 7 , 8 00,000 stock options outstanding and 2 , 54 0,000 RSUs outstanding.
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, 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 .
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.
Contacts
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
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.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.
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.
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.
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.
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.
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 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 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 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.
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 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.
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 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, 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 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 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.
`
Click Image To View Full Size
Figure 2 – NewMarket - CNCDrill Holes Over Total Magnetic Intensity
f
Click Image To View Full Size
Figure 3 - Newmarket – Mann Southeast targets
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
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.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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.
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
(TheNewswire)
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.
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
(TheNewswire)
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:
Acquisition of Mann Twp Claims
Noble has acquired a total of 240 mining claims (the " Mann Claims ") in Mann, Duff, and Reaume Townships, covering an area totaling approximately 5,000 hectares. The Mann Claims were acquired after payment, exploration expenditure commitments and other conditions were satisfied in accordance with on option agreement entered into by Noble in 2021. Under the transaction, the optionors have retained a 2% NSR and a 10% Gross Stone Products Royalty subject to Noble's right to buyback half of such royalties as further described in a royalty agreement between the parties . For further details regarding the original transactions on the Mann Claims and certain additional properties (collectively, the "Properties "), please refer to the news releases issued by Noble on August 11, 2021 and on July 31, 2023.
The Properties are a portion of the 625 mining claims (the " Optioned Claims ") that are currently subject to an option and joint venture agreement between Noble and Canada Nickel Company Inc. (" Canada Nickel ") whereby Canada Nickel has the right to acquire an up to 80% interest in the Optioned Claims subject to satisfying certain conditions. For further details regarding the option and joint venture agreement between Noble and Canada Nickel, please refer to the news release issued by Noble on February 24, 2022.
Canada Nickel has expressed its interest in exercising its option to acquire an 80% interest in the Properties from Noble pursuant to the option and joint venture agreement. For further details, please refer to the news release issued by Noble on April 22, 2024.
Acquisition of 1,500,000 Units from Spruce Ridge
Noble further announces the acquisition of 1,500,000 units from Spruce Ridge Resources Ltd. (" Spruce ") pursuant to a non-brokered private placement conducted by Spruce which closed on December 20, 2023 (the " Transaction "). For further details on that private placement, please refer to the news release issued by Spruce on December 21, 2023.
Noble acquired the Spruce units at a price of $0.05 per unit, for an aggregate purchase price of $75,000. Each unit comprised one Spruce common share (" Common Share ") and one half of a Spruce common share purchase warrant. Each whole common share purchase warrant grants Noble the right to acquire one Common Share for $0.10 within a two-year period after issuance. All securities issued by Spruce to Noble were subject to a four month hold period.
Pursuant to the policies of the TSX Venture Exchange (the " Exchange "), Noble and Spruce are considered non-arm's length parties as of the date of the Transaction because they share two directors who serve on their respective boards. For the same reason, the Transaction is considered a "related party transaction" pursuant to Policy 5.9 of the Exchange and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). Noble has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 to complete the Transaction on the basis that no securities of the Company are listed on a specified market and the consideration paid by Noble for the Spruce units does not exceed 25% of the market capitalization of the Company.
Agreements to Purchase Interest in Carnegie Properties
Noble has agreed to purchase from a co-owner a 50% interest in 317 patented and tenure identified mining claims in Carnegie, Kidd, Wark and Prosser Townships totaling approximately 6,600 hectares (the " First Carnegie Property "), and a 51% interest in certain mining claims in Carnegie Township totaling approximately 4,978 hectares (the " Second Carnegie Property "). Upon closing of these transactions, Noble will hold a 100% interest in each property, subject to 2% NSRs held by prior owners or their assigns. The consideration payable by Noble for the acquisition of the co-owner's interest in the First Carnegie Property is a total of 162,000 common shares in the capital of Canada Nickel. The consideration payable by Noble for the acquisition of the co-owner's interest in the Second Carnegie Property is a total of 50,000 Canada Nickel common shares. Closing of these transactions is subject to customary conditions and regulatory approvals (to the extent applicable).
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional ~11,000 hectares in the Timmins area and ~14,400 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, ~518 hectares in the Laverlochere Nickel, Copper, PGM property and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at www.noblemineralexploration.com .
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
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
(TheNewswire)
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) .
Figure 1: First Vertical Derivative of the airborne geophysical survey showing
location of the Cousineau Boulder and a possible cross fault structure (white line)
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
Poseidon Nickel (ASX: POS, the Company) is pleased to provide an update of its gold exploration programs across its three projects.
CEO, Brendan Shalders, commented, “Recent exploration activities have further enhanced the gold prospectivity at Black Swan and Lake Johnston.
Black Swan is located within the Boorara Geological Domain which hosts a number of gold mines including the nearby Kanowna Belle, Mungarra and Gordon Sirdar projects. The 52 gold nuggets recovered to date enhances the prospectivity of the interpreted gold structures that intersect with the geological sequences at Black Swan.
The team plans to complete a soil sampling program at Black Swan this month to further test the gold prospectivity at the project.
At Lake Johnston, further assessment of the open-ended broad Billy Ray gold in soil anomaly has also confirmed coincident copper anomalism. When considering the likely link to the previously reported LJPD0032 drill intersection grading 2.26g/t Au and 2.36% Cu in a mineralised felsic intrusive, support is building for a larger Cu-Au system in the area. Planned soil sampling across the Mantis tenement will include other important pathfinder elements useful in targeting intrusive related gold systems (Bi-Sb-Tb- As-Te-Ag), which were not assayed historically.
When considering the historical nickel focus at all of our projects, there has been very little sustained exploration for other commodities despite all three projects being located in the heart of the Eastern Goldfields region of Western Australia.
The recently reported gold anomalies at Windarra, the increased gold prospectivity at Black Swan and the growing Cu-Au potential at Lake Johnston all offer exciting opportunities to carry out low-cost, high reward exploration programs whilst maintaining our nickel resources and infrastructure options.
The pleasing progress reported today and planned programs remain consistent with our strategy to assess the greenfields potential for multiple commodities across all three of Poseidon’s projects.”
Black Swan Geology Setting Favourable for Gold Mineralisation
The Black Swan project is situated west of the Mt Monger Fault amongst a series of interpreted secondary structures emanating from the primary fault which are commonly associated with gold mineralisation. The secondary structures are similar to those controlling the Golden Valley and Kanowna Sequence which hosts a number of large gold deposits including Kanowna Belle and Gordon Sirdar (see Figure 1).
Figure 1: Black Swan Regional Geology Map & Tenement Locations
Komatiitic nickel deposits such as Black Swan occur as channel like features that are interpreted to be following very early-stage crustal scale structures that remain active throughout the Earth’s geological history. These long-lived structures may become reactivated during the gold mineralising events meaning that separate nickel and gold mineralisation events can share common structural associations (i.e. Beta Hunt).
Following on from the recently reported gold nuggets discovered at Black Swan, metal detecting programs have so far recovered a total of 52 gold nuggets with a combined weight of 17.9 grams.
The nuggets are small in size (typically <0.6 grams in weight) and angular, indicating limited mobility and in-situ formation from a likely nearby source. The nuggets have been found clustered in a single area with the remainder of the tenements not yet tested.
A recent field trip noted the gold nuggets are mapped within hangingwall felsic volcanics with areas of quartz veining and breccias, and ferruginous lag which could be a source for gold mineralisation.
Click here for the full ASX Release
This article includes content from Poseidon Nickel Limited, 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.
The first quarter of the year saw the nickel price under threat from a market glut as Indonesian supply flooded the market, forcing western producers to begin cutting production amid low profitability.
March brought a great deal of volatility, with nickel breaking through the US$18,000 per metric ton (MT) mark; however, by April 1 the base metal had once again slumped, opening the second quarter at US$16,568.
As Q2 progressed, commodities saw broad gains and nickel hit a year-to-date high of US$21,615 on May 20.
After reaching that high point, nickel couldn't find support and fell rapidly to close the second quarter at US$17,291. Since then, the price of nickel has continued to decline, approaching yearly lows of US$16,090 on July 30.
During Q1, nickel prices were negatively affected as Indonesian producers continued to flood the market; however, the base metal began seeing positive momentum as the country experienced delays in approving mining output quotas, and amid speculation that Russian nickel could be sanctioned by the US and UK.
Ultimately, nickel wasn't sanctioned by those countries at the time, and as mining quotas began to work their way through Indonesian red tape, nickel prices once again experienced declines.
However, momentum began to shift again for nickel at the start of Q2. On April 12, news broke that Washington and London had banned US and UK metal exchanges from admitting new aluminum, copper and nickel from Russia. Taking immediate effect, the prohibitions also halted the import of those metals.
In July, the London Metal Exchange extended trading sanctions to Russian miner Norlisk Nickel’s Finnish operations for the trading of briquettes and cathodes; these restrictions are set to come into effect in October.
Joe Mazumdar, editor of Exploration Insights, suggested this move will have little impact on the sector.
“That nickel is still going to make it into the market, it’s just going to go to a different exchange, probably Shanghai … So I could still see that nickel moving and getting consumed in the global market — it’s just not coming to the west,” he explained to the Investing News Network in an interview.
Nickel continued to climb through April and May as a combination of factors drove metals prices more broadly. Dovish statements from the US Federal Reserve helped provide momentum, as did cooling inflation data.
Ultimately nickel prices fell back, with London Metal Exchange stockpiles of the metal increasing through the second quarter, rising from 77,604 MT on April 1 to 95,436 MT on June 28.
The overhang in the nickel market caused producers to begin curtailing their production in the early part of the year. This trend continued into the second quarter as more producers started to slow output or shut mines altogether.
Among the hardest-hit regions in the latest round of closures has been Australia, where low prices and high operating costs forced First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) to place its Ravensthorpe operations on care and maintenance at the end of April. The mine had been operating at lower capacity through the start of the year as it worked through aboveground stockpiles and used a lower-cost atmospheric leach circuit to process ore.
BHP (ASX:BHP,NYSE:BHP,LSE:BHP), which had been considering cuts earlier in the year, announced on July 11 that it would be suspending operations at its Nickel West operations and West Musgrave project.
In its announcement, it cites oversupply in the global nickel market and indicates consensus that nickel prices will be lower over the next half-decade due to growth in alternative, low-cost supply. BHP said it would begin transitioning its operations starting immediately, with the full suspension being completed between October and December of this year. The company notes that the closure is temporary and said it will review its decision in February 2027.
Mazumdar explained that Indonesia has a competitive advantage, but as more operations begin to cut production it will start to eat into the market surplus, which will be a positive for the nickel market.
“They can’t compete on a cost basis with Indonesia, nobody can. So Indonesia continues to oversupply the market, and now there’s an overhang. What happens is once you get these production cuts, there’s less supply in the market and then that overhang will recede. That’s the best thing that can happen to the nickel market,” he said.
Amid these challenges, the US has set up a number of programs, including tax credits through the Inflation Reduction Act (IRA), to bolster domestic and allied production of nickel and other critical minerals.
The IRA was announced in 2022, but more recently, the Biden administration authorized the US Department of Energy’s Clean Energy Financing Program, which establishes a US$72 billion fund that will be used to provide guaranteed loans to “projects that increase the domestically produced supply of critical minerals.”
Mazumdar doesn’t think incentives like this will be enough to get new projects into the nickel space.
“The west can offer cheap loans to get people to build it, but they’re not going to make any money to pay back the loan no matter how cheap it is unless they give them a grant,” he said.
He explained that to get these projects off the ground, the nickel price would need to go higher to incentivize development, or governments would need to provide a guaranteed price to buy the nickel and build their own stockpiles.
Back-and-forth pressures between government initiatives and Chinese dominance have created a bifurcated market and left Indonesia with few options to diversify its exports, even as it negotiates a trade partnership with the US.
This has led to attempts from Indonesia to restructure investment deals with Chinese firms that would allow Indonesian nickel products to qualify for incentives under the IRA.
Despite the nickel market's oversupply, there is still high demand, much of it from China.
China is the largest consumer of nickel in the world, accounting for around 65 percent of total consumption, with the bulk of it destined for steel products. However, as China’s real estate market has stalled out, so too has demand for steel products, with consumption slumping 3.3 percent during the first half of the year.
Total 2024 consumption is projected to fall to around 900 million MT, down from 933.4 million MT in 2023.
Despite the decline, nickel demand has been bolstered by increasing sales of battery electric vehicles (BEVs) in recent years. Even though reports indicated that demand for BEVs had waned at the start of 2024, growth in the segment has remained resilient, with BEVs' global share of the light vehicle market expected to reach 19.2 percent in 2024.
In China, the uptake has also been enormous, with sales from Chinese BEV producer BYD (OTC Pink:BYDDF,SZSE:002594) projected to exceed those of North American rival Tesla (NASDAQ:TSLA) in 2024.
Additionally, demand for hybrid vehicles is expected to exceed demand for traditional internal combustion engine (ICE) cars. While batteries for hybrids aren’t as large, they still use more nickel than ICE vehicles.
The amount of nickel used in batteries has been increasing in recent years as consumers demand greater range. BEVs use 25.3 kilograms of nickel on average, while hybrids use an average of 6.5 kilograms.
While production cuts should bring the market more into balance, the nickel price is likely to be determined by supply coming from Indonesia and demand from Chinese steel and battery production.
Even though governments have created initiatives to stimulate western production, they’re not likely to have much ability to increase mining operations as long as nickel prices remain depressed.
As pricing for nickel bottoms out, there may be opportunities for investors who are willing to be patient; however, it could be some time before prices rebound sufficiently for miners to begin restarting their operations.
Long-term predictions show nickel in the US$17,000 range for 2024, slowly improving to US$23,000 level in 2028.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Some nickel stocks are still thriving in the ongoing tough nickel market. After trending down through 2023, nickel prices climbed to a 10-month high in late May, but they've since pulled back.
Supply is expected to outflank demand over the short term, but the longer-term outlook for the metal is strong. Demand from the electric vehicle industry is one reason nickel's future looks bright further into the future.
“Global nickel consumption is expected to increase due to recovery of the stainless steel sector and increased usage of nickel in electric vehicle batteries. Batteries now account for almost 17 percent of total nickel demand, behind stainless steel," Ewa Manthey, commodities strategist at financial services firm ING said in the lead-up to 2024.
“The metal’s appeal to investors as a key green metal will support higher prices in the longer term."
As for Canada's nickel market, the critical metal is listed as one of the top priorities in the Canadian government's Critical Minerals Strategy, which was announced in 2023. The country is the world's fifth largest producer, with much of the production coming from mines in Ontario's Sudbury Basin, including Vale’s (NYSE:VALE) Sudbury operation and Glencore's (LSE:GLEN,OTC Pink:GLCNF) Sudbury Integrated Nickel Operations.
Additionally, in February, Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF) announced its wholly owned subsidiary NetZero Metals is planning to develop a US$1 billion nickel processing plant in Ontario that would become North America’s largest once complete.
How are Canadian nickel stocks performing in 2024? Below INN has listed the top nickel stocks in Canada on the TSXV and CSE by share price performance so far this year. TSX stocks were considered, but didn't make the cut.
All year-to-date and share price data was obtained on July 30, 2024, using TradingView’s stock screener. The top nickel stocks listed had market caps above C$10 million at that time.
Year-to-date gain: 233.33 percent; market cap: C$32.66 million; share price: C$0.20
Class 1 Nickel and Technologies flagship property is its wholly owned Alexo-Dundonald nickel project near Timmins, Ontario. The past-producing project hosts four nickel sulfide deposits. The company’s pipeline also includes the past-producing Somanike nickel-copper project near Val-d’Or, Quebéc, and the River Valley platinum group elements (PGE) project near Sudbury, Ontario.
Class 1 Nickel released mineral resource updates for the Alexo South and Alexo North deposits in April and May of this year, respectively. This was followed by updated technical reports on each deposit in June and July. The company expects to start work on a preliminary economic assessment in the near-term as part of its plan to bring the project back into production.
The Canadian nickel exploration company's share price started off the year at C$0.06, and it began climbing in April to reach a year-to-date high of C$0.21 on July 26.
Year-to-date gain: 158.33 percent; market cap: C$119.22 million; share price: C$0.62
Power Nickel is focused on developing its 80 percent owned Nisk polymetallic property in Quebéc, which hosts nickel, copper, platinum and palladium mineralization. According to the company, it plans to create Canada's first carbon neutral nickel mine. The polymetallic nature of the project is a plus for the economic case for future nickel production in a low price environment.
This ongoing work has generated a succession of positive news flow for the company so far in 2024. After starting 2024 at C$0.24, shares in Power Nickel began gaining forward momentum in mid-April following two key announcements. First was the drill results on the newly discovered Lion copper, platinum, palladium zone 5 kilometers northeast of its main Nisk Deposit. Shortly after, the company announced the completion of its option to earn an 80 percent stake in the property from Critical Elements Lithium (TSXV:CRE).
Power Nickel’s share price jumped more than 15 percent on May 10 to reach C$0.64 following news that drilling continued to expand the high-grade, near-surface Lion discovery with notable assays that included 14.42 meters of 0.59 grams per metric ton (g/t) gold, 69.14 g/t silver, 8.17 percent copper, 6.25 g/t palladium, 8.44 g/t platinum and 0.58 percent nickel.
In June, Power Nickel commenced an 8,000-meter summer drill program at Nisk. This was followed by the closing of a flow-through offering with gross proceeds of over C$20 million, with some of the biggest names in mining — Robert Friedland and Rob McEwen — participating. The company's stock value continued to climb before peaking at a year-to-date high of C$0.88 on June 21.
Year-to-date gain: 83.33 percent; market cap: C$48.01 million; share price: C$0.55
EV Nickel’s primary project is the 30,000 hectare Shaw Dome asset near Timmins, Ontario. It includes the high-grade W4 deposit, which has a resource of 2 million metric tons at 0.98 percent nickel for 43.3 million pounds of Class 1 nickel across the measured, indicated and inferred categories. Shaw Dome also holds the large-scale CarLang A zone, which has a resource of 1 billion metric tons at 0.24 percent nickel for 5.3 billion pounds of Class 1 nickel across the indicated and inferred categories.
EV Nickel is also working on integrating carbon capture and storage technology for large-scale clean nickel production, and has procured funding from the Canadian government and Ontario's provincial government. In late 2023, the company announced it was moving its carbon capture research and development to the pilot plant stage.
The company's news so far in 2024 includes the closure of a flow-through financing in March which ultimately saw EV Nickel raise C$5.12 million to fund the development of its high-grade large-scale nickel resources.
In April, EV Nickel launched its 2024 exploration program, which is aimed at advancing the CarLang trend and exploring other nickel targets. The most recent news out of the program came in mid-June with the announcement that diamond drilling on the Langmuir 2 high-priority nickel target had commenced and plans were in place to begin drilling on high-grade nickel targets contained within the Shaw Dome project starting in mid-June.
The Canadian nickel exploration company's share price started off the year at C$0.30 before steadily climbing to reach a year-to-date high of C$0.79 on May 17.
There are a variety of ways to invest in nickel, but stocks and exchange-traded products are the most common. Nickel-focused companies can be found globally on various exchanges, and through the use of a broker or a service such as an app, investors can purchase companies and products that match their investing outlook.
Before buying a nickel stock, potential investors should take time to research the companies they’re considering; they should also decide how many shares will be purchased, and what price they are willing to pay. With many options on the market, it's critical to complete due diligence before making any investment decisions.
Nickel stocks like those mentioned above could be a good option for investors interested in the space. Experienced investors can also look at nickel futures.
Nickel has a variety of applications. Its main use is an alloy material for products such as stainless steel, and it is also used for plating metals to reduce corrosion. It is used in coins as well, such as the 5 cent nickel in the US and Canada; the US nickel is made up of 25 percent nickel and 75 percent copper, while Canada's nickel has nickel plating that makes up 2 percent of its composition.
Nickel's up-and-coming use is in electric vehicles as a component of certain lithium-ion battery compositions, and it has gotten extra attention because of that purpose.
The world's top nickel-producing countries are primarily in Asia: Indonesia, the Philippines and New Caledonia make up the top three. Rounding out the top five are Russia and Canada. Indonesia's production stands far ahead of the rest of the pack, with 2023 output of 1.8 million metric tons compared to the Philippines' 400,000 MT and New Caledonia's 230,000 MT.
Significant nickel miners include Norilsk Nickel (OTC Pink:NILSY,MCX:GMKN), Nickel Asia, BHP Group (NYSE:BHP,ASX:BHP,LSE:BHP) and Glencore (LSE:GLEN,OTC Pink:GLCNF).
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canada Nickel Company is a client of the Investing News Network. This article is not paid-for content.
Pivotal Metals Limited (ASX: PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide results from two further drill holes and a new airborne magnetic survey that highlights the regional scale growth potential of its 100% owned Horden Lake Project in Quebec, Canada.
Newly discovered mineralised zone adjacent to Horden Lake
Additional 600m strike extension potential south of Horden Lake main zone
Pivotal work program delivering
Managing Director, Mr Fairhall said:
“The best place to look for a deposit, is next to a deposit. This parallel corridor is a major development in expanding the potential of the project. Previously undrilled, so hitting mineralisation in the first hole is a great first step in developing this into a potentially significant target source of feed to complement the main Horden Lake deposit.
Elsewhere, along strike from Horden Lake, we have further defined a prospective 600m potential strike extension. The new data, combined with exciting intersections in historical drilling, provide clear targets to prioritise as the Company builds its open-pit resources.
Like our successful down-plunge step-out drilling, these are important evidence of the significant potential to enlarge the resource base and bulk-up what is already a sizeable and compelling copper development opportunity.
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 3,333m / 16 holes have been reported prior to this announcement.
The main 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 targets.
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 Limited (ASX:BSX) is pleased to share its quarterly report for the period ending 30 June 2024.
HIGHLIGHTS:
• The Company commenced the precursor cathode active material (“pCAM”) NCM811 (nickel-cobalt- manganese in a ratio of 8-1-1) pilot program in May 2024. This is the last stage of outstanding testwork required to finalise the definitive feasibility studies (“DFS”).
• The Company is in the final stages of completing the Ta Khoa Refinery (“TKR”) DFS. Outstanding DFS activities include, pCAM piloting program, residue handling testwork and facility design and finalising geotechnical assessments. Completion of these activities will allow the Company to release the DFS within CY24.
• The Company continues to engage the Son La Provincial Government and with respect to the TKR Investment Policy application. The Company has progressed drafting the Ta Khoa Nickel (“TKN”) Investment Policy Application document.
• End of quarter cash position of $4.16m, following receipt of ~$1m research and development advance funding agreement.
• Listed investments of $1.6m at the end of the quarter.
For a video summary of the announcement head to the Blackstone Investor Hub
https://investorhub.blackstoneminerals.com.au/link/7PRd7e
PROJECT UPDATE
TA KHOA REFINERY COMMENCES pCAM PILOTING
After successful completion of both the Ta Khoa Nickel (“TKN”) and Ta Khoa Refinery (“TKR”) pilot campaigns to produce battery grade nickel and cobalt sulphates (Refer to ASX announcement 15 November 2022), Blackstone commenced pCAM piloting in May 2024.
The pCAM pilot program is the last stage of testwork required to allow the Company to finalise TKR DFS testwork activities. The pCAM pilot program will utilise feedstock generated during the TKR pilot program to produce on-specification pCAM material in the chemistry of NCM811 to ‘typical’ lithium-ion battery standards for the EV market.
Click here for the full ASX Release
This article includes content from Blackstone Minerals, 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.
Welcome to the Investing News Network's weekly look at the best-performing junior mining stocks on the TSX Venture Exchange, starting with a round-up of Canadian and US market data impacting the resource sector.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 0.76 points last week to close at 579.33. Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 59.82 to close at 22,814.81.
The US Bureau of Economic Analysis (BEA) released its advanced GDP estimates for Q2 2024 this past Thursday (July 25). The data showed the economy grew 2.8 percent in the May to June period, higher than the 1.4 percent increase seen in the first quarter of 2024.
Increases in spending in the service sector saw contributions from health care, housing and utilities, while higher spending for goods came from auto sales, recreational goods and furnishings.
The BEA also released June’s personal consumption expenditures index data this past Friday (June 26). In that release, the bureau indicated further easing of inflation with June reporting a year-over-year increase of 2.5 percent, down from May’s increase of 2.6 percent.
The index is a favored measure by the Federal Reserve in tracking progress as it works to bring inflation down to its 2 percent target rate. The central bank will use the figures to determine rate changes when it meets next Tuesday and Wednesday. While most analysts do not see the Fed making any changes yet, the new data has increased sentiment for cuts in September.
Equity markets saw broad gains above 1 percent on Friday but were mixed over the past week.
The S&P 500 (INDEXSP:.INX) was down more than 1 percent, finishing the week at 5,459.09 points. The Nasdaq-100 (INDEXNASDAQ:NDX) was down sharply following a rout of tech stocks in the aftermath of the Crowdstrike (NASDAQ:CRWD) outage on July 19, losing 3.65 percent on the week closing out Friday at 19,023.66. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) saw a modest gain of 0.43 percent to close at 40,589.34.
The S&P GSCI (INDEXSP:SPGSCI) commodity index also saw losses this week losing around 1 percent on the week to trade at US$549.27 this past Friday. Precious metals were also down with silver falling 4.44 percent ending the week trading at US$27.92 and gold shedding 0.58 percent to end the week at US$2,386.74.
How has this affected small-cap mining companies on the TSX Venture Exchange? These are the top 5 gainers from the past week.
Weekly gain: 93.1 percent; market cap: C$31.28 million; share price: C$0.28
Alaska Energy Metals is an exploration company working to advance its critical mineral properties in Alaska, US, and Quebec, Canada. The company’s flagship property, the Nikolai project, is located in Southeast Alaska and hosts the Eureka deposit. In a resource estimate from a technical report published in February, the company reported contained indicated values of 3.88 billion pounds of nickel, 1.28 billion pounds of copper, 303 million pounds of cobalt along with 4 million ounces of platinum from 813 million metric tons.
The company also owns the Angliers project located in western Quebec. The site is composed of 464 mineral claims covering an area of 26.417 hectares in a region known to host mineralized bodies of nickel, copper, platinum group metals, gold, molybdenum and zinc. The company announced on June 5, that it had acquired the adjacent Bambino nickel and copper property which would add 57 new claims over 3,320 hectares.
The most recent news from the company’s projects came on July 16, when it announced the start of a drilling program to test geochemical targets at the Canwell block at its Nikolai project.
Weekly gain: 44.23 percent; market cap: C$121.94 million; share price: C$0.375
Nevada King Gold is a gold exploration company focused on the advancement of its Atlanta Gold project in southeast Nevada, US. The property is home to a past-producing open-pit gold mine that produced 110,000 ounces of gold and 800,000 ounces of silver between 1975 and 1985.
The site consists of six primary zones, and according to a 2020 resource estimate hosts measured and indicated quantities of 460,000 ounces of gold and 4.22 million ounces of silver from 11 million metric tons of ore, with additional inferred values of 142,000 ounces of gold and 1.24 million ounces of silver from 5.31 million metric tons of ore.
In a project update released this past Tuesday (July 23) the company reported drill results that included a highlighted intercept of 6.28 grams per metric ton (g/t) gold over 54.9 meters. The company said mineralization from the interval was consistent over its entire length and that it was the most important hole drilled at Atlanta to date.
The most recent news from Nevada King came this past Friday, when the company announced that it had received final approval from the Supreme Court of British Columbia to spin out its non-Atlanta projects. The deal will see its other properties including, Lewis, Horse Mountain - Mill Creek, and Iron Point projects spun out to shareholders. The new company will also retain a 3 percent smelter return royalty on all gold and silver production from Atlanta.
Weekly gain: 42.86 percent; market cap: C$24.73 million; share price: C$0.05
Abcourt Mines is a gold exploration and development company focused on operations at its Sleeping Giant mine in the Abitibi region of Quebec, Canada. The mine property consists of four mining leases covering an area of 458 hectares and 69 claims. The site hosts an underground mine along with a mill capable of processing 750 metric tons per day.
The company also owns the Pershing-Manitou gold exploration project also located in the Abitibi region is composed of 322 claims covering an area of 12,307.55 hectares. Abcourt has been carrying out bulk sampling using the mill at Sleeping Giant.
On July 10, the company announced that Sleeping Giant had produced 327.6 ounces of gold from 1,428 metric tons and also produced 140 ounces from 5,000 metric tons acquired from the bulk sampling program at Pershing-Manitou. The company said it would be using the mill to process development material to access new stopes.
The most recent news from Abcourt came this past Thursday when the company announced the closing of C$4.5 million private placement. The company said funds would be used for exploration and development at Sleeping Giant.
Weekly gain: 34.92 percent; market cap: C$54.62 million; share price: C$0.425
Volt Lithium is a lithium development and production company working to advance its Direct Lithium Extraction (DLE) technology. The company is currently operating in the Permian Basin to develop its DLE technology which will allow it to extract battery grade lithium from oilfield brines. Oilfields in the basin produce 19 million barrels of brine per day.
The most recent news came on July 17 when it announced it had scaled up its processing capabilities at its field simulation center in Calgary, Alberta, Canada to 96,000 litres per day with lithium recovery rates of up to 99 percent from brine concentrations as low as 31 milligrams per litre. The company said it’s a significant milestone and will allow it to build and deploy its first field unit during Q3 2024.
Weekly gain: 28.7 percent; market cap: C$183.96 million; share price: C$2.87
Founders Metals is a gold exploration company working to advance exploration efforts at its Antino Gold project in southeast Suriname. The property covers 238 square kilometers and has the necessary permits for drilling and mining. The site has previously hosted small-scale open pit mining operations with approximately 500,000 ounces of gold having been extracted.
Results from the company’s most recent exploration activities were reported this past Monday (July 22) when it reported highlighted assays of 5.31 g/t gold over 46 meters which included 12.05 g/t gold over 10 meters. The company said results expand on previously identified mineralization 150 meters east of the main Froyo zone and intends to continue exploration of the parallel zone over the coming weeks to explore strike and depth.
Data for this 5 Top Weekly TSXV Performers article was retrieved at 11:00 am PST on July 26, 2024, using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals were considered.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.