Noble Mineral Announces Closing of First Tranche of its Non-Brokered Private Placement

Noble Mineral Announces Closing of First Tranche of its Non-Brokered Private Placement

 

(TheNewswire)

 
       
  Noble Mineral Exploration Inc. 
                
 

Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the " Private Placement "). (Please see Noble's news release of November 24, 2023.)  At this first tranche closing, Noble raised gross proceeds of $112,500 (before fees and expenses) through the issuance of 1,500,000 flow-through common share units (" FT Units ") priced at $0.075 per unit. Each FT Unit is comprised of one common share issued as a "flow-through share" as defined in the Income Tax Act (Canada) and designated as a flow-through common share (" FT Share "), and one-half non-flow-through common share purchase warrant. Each full warrant issued pursuant to the FT Units will be exercisable for two years for one common share of the Company at an exercise price of $0.125 per share. Noble may close subsequent tranches of the Private Placement

 

  The securities issued in this Private Placement are subject to a four month hold period.  

 

  The closing proceeded after conditional approval of the Private Placement was granted by the TSX Venture Exchange (the "   Exchange   "), and remains subject to final approval of the Exchange, as well as any other required regulatory approvals.  

 

  Noble intends to use the proceeds raised through the Private Placement to fund exploration expenditures on the Company's properties located in Ontario.  

 

  About Noble Mineral Exploration Inc.  

 

  Noble Mineral Exploration Inc. is a Canadian-based junior exploration company that, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd. It also has interest in the Holdsworth gold exploration property in the area of Wawa, Ontario. It continues 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 also holds ~14,600 hectares in the Nagagami Carbonatite Complex and ~4,600 hectares in the Boulder Project both near Hearst, Ontario. In addition, Noble has ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in a Havre St Pierre Nickel, Copper, PGM property, ~518 hectares in the Laverlochere Nickel, Copper, PGM property, all of these are in the Province of Quebec. More detailed information can be found on the Company's website at:  

 

    https://www.noblemineralexploration.com    

 

  Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."  

 

  Cautionary Statement  

 

  Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.  

 

  The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.  

 

  Contacts  

 

  H. Vance White, President  

 

  Phone:         416-214-2250  

 

  Fax:        416-367-1954  

 

  Email:        info@noblemineralexploration.com  

 

  Investor Relations: ir@noblemineralexploration.com  

 

Copyright (c) 2023 TheNewswire - All rights reserved.

 

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(TheNewswire)

 
       
  Noble Mineral Exploration Inc. 
                
 

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(TheNewswire)

 
       
  Noble Mineral Exploration Inc. 
                
 

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(TheNewswire)

 
       
  Noble Mineral Exploration Inc. 
                
 

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  Noble Mineral Exploration Inc. 
                
 

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(TheNewswire)

 
       
  Noble Mineral Exploration Inc. 
                
 

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HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

o New Aramine L350D has departed France for the journey to Hill End. Arrival in Orange NSW expected in by 26th August where it will be fitted with an RCT remote control system for open stoping operations.

o Mining the Reward Gold Mine - Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).

o Weekly Gold production Oz's from Stockpiles improving with depth in the stockpiles, with coarser particle size and better process throughput experienced.

- Mine start up

o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

o High voltage cabling installation commences next week, with power up of the system scheduled for 28 July 2025.

o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

o Development Jumbo #1 (Epiroc T1D) is exceeding performance expectations.

o Dewatered of declines well underway.

o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

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o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

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- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

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This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

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(TheNewswire)

 
        
  Juggernaut Exploration Ltd. 
                   
 

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