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Noble Mineral
Overview
Noble Mineral Exploration (TSXV:NOB,FWB:NB7,OTCQB:NLPXF) is a Canadian junior exploration company with shareholdings in Canada Nickel, Spruce Ridge Resources and MacDonald Mines Exploration.
Noble holds approximately 90,000 hectares of mineral rights in various areas of Northern Ontario, Quebec and Newfoundland, upon which it plans to generate joint venture exploration programs. The company is exploring for nickel, cobalt, platinum group metals (PGMs), volcanogenic massive sulphide (VMS), gold, chromium, copper, zinc, silver and gold. The company owns one contiguous block of land totaling 25,000 hectares staked and patented mineral rights at Project 81 including a 50-percent interest in the Carnegie, Prosser, Wark and Kidd Twps (6,600 hectares ) claims, and an option on 4,800 hectares in Calder Twp.
Noble’s Project 81 properties have been sold to Canada Nickel for 3.5 million shares of Canada Nickel, which yielded dividends to Noble shareholders in the second quarter of 2022 by way of a return of capital. Noble has retained a 2-percent net smelter return (NSR) on claims in Bradburn, Mahaffy and MacDiarmid Twps subject to a 50-percent buyback at graduated rates per project.
The Crawford nickel sulfide project covers 9,000 hectares of the larger Project 81 property and is approximately 14 kilometers north of the Kidd Creek mine. After an initial drill program carried out by Spruce Ridge Resources, the Crawford Ni-Co-PGM deposit was taken over by Sprudge Ridge for 22 million shares of Canada Nickel.
Noble Mineral also holds interest in Mann et al Twps comprising 1,900 hectares in the Timmins area of Northern Ontario, for which it holds the mineral rights focusing on Ni-Co-PGM. The company plans a follow-up drilling campaign at the Nagagami River Carbonatite project covering 14,600 hectares of niobium and rare earth discovery near Hearst in Northern Ontario. Noble is also planning its 2023 drill campaign at the 4,600-hectare Boulder Project. Scheduled winter drilling for the same year is set for the 482-hectare Cere-Villebon and 3,700-hectare Buckingham graphite projects.
Noble Mineral has also formed numerous strategic financial and technical partnerships that apply state-of-the-art technology to help identify various types of mineralization. Some of the company’s partners include MacDonald Mines Exploration (TSXV:BMK), a Canadian precious metals explorer, Orix Geoscience, a geological consulting firm, BECI Exploration Consulting, an innovative airborne mineral exploration technology developer, CGG Multiphysics, a fully-integrated geoscience company providing leading geological, geophysical (airborne gravity gradiometer) and reservoir services, Windfall Geotek to produce artificial intelligence (AI), IBK, as their financial advisor, and Franco-Nevada (TSX:FNV), a net smelter royalty (NSR) holder.Company Highlights
- Operates under a prospect generator model.
- Wholly owned 36,400-hectare Project 81 precious, nickel-cobalt and base metal property near Timmins, Ontario, adjacent to Glencore’s Kidd Creek VMS mine and milling complex.
- MOUs in place with First Nations communities.
- Created a pure-play nickel company, Canada Nickel, with the consolidation of 100 percent of the Crawford nickel sulfide project.
- Follow-up exploration planned in several areas of the project.
- Multiple acquisitions include 50 percent interest in claims in Carnegie, Kidd, Wark and Prosser townships near Timmins, Ontario; an agreement to cover the Nagagami Carbonatite Alkalic Complex, 65 kilometers northwest of Hearst, Ontario; 576 mining claims in Central Newfoundland; and a six-party agreement to acquire approximately 695 mining claims near Hearst, Ontario; The company acquired a precious metal prospect, acquiring 214 claims by staking that span 4,500 hectares in the Way Township after discovering a boulder that contained copper, zinc, gold, and platinum group metals.
Key Projects
Project 81
The Project 81 property spans over 36,400 hectares and is located in the Timmins-Cochrane area of Northern Ontario. It comprises patented mineral rights, in addition to contiguous staked mining claims. The property remains mostly underexplored and is prospective for gold, silver, nickel, cobalt, platinum group metals (PGM), chromium, copper, lead, VMS and zinc deposits. Project 81 is within three kilometers of Glencore’s Kidd Creek zinc-copper-silver mine complex, 30 kilometers from the Porcupine-Destor main break, and within 25 kilometers of the City of Timmins, Ontario. The property is accessible by paved highway and has access to high-voltage transmission lines, hydropower, water, mining personnel and mining service suppliers and contractors.
Boulder Project
Noble Minerals has acquired a copper-precious-metal prospect near Hearst, Ontario, extending from about 4 to 15 kilometers southwest of the town of Hearst. The staked area is equivalent to approximately 4,500 hectares. A 140-kilogram boulder was found in the area containing significant concentrations of base and precious metals which, upon analysis conducted in 2019 by the Ontario Geological Survey, determined that the boulder contained: 71.8 percent copper; 3.5 percent lead, 1.09 percent zinc; 252 grams per ton (g/t) of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/t of platinum and consisted primarily of the mineral cuprite.
Drilling is planned in 2023 to follow up on airborne EM/Mag for Boulder producing more than 70 percent copper.
Nagagami River Carbonatite
First core from Nagagami Complex
Noble acquired an estimated 14,607 hectares, including 695 mining claims, in the Nagagami River area. The carbonatite alkalic complex is positioned approximately 65 kilometers northwest of Hearst, Ontario. Project perspectives are based on magnetic study of the Nagagami land relative to the Niobec mine in Quebec. These geologically similar areas indicate donut-shaped structures with syenitic rocks forming the circular magnetic high, and carbonatitic rocks forming the central magnetic low where niobium and other rare earth mineralization is hosted.
Buckingham Graphite
The Buckingham graphite project comprises 3,700 hectares in the Outaouais area of Western Quebec. A 2022 fieldwork of a two-phase program was conducted to include reprocessing of data from a 2013 survey, property visits to locate trenches, grab samples and drill hole collars. The company has proposed to conduct infill drilling on the property in 2023.
Lucas Twp
Between the 1960s and 1980s, drilling and exploration were conducted at the Lucas gold project. No significant exploration work, however, has been completed on the property since the 1980s. Historic (not NI 43-101 compliant) drill highlights include 9.14 meters grading 3.14 g/t gold and 8.84 meters grading 3.5 g/t gold. The project also has six discrete parallel induced polarization (IP) anomalous trends that require follow-up exploration.
In 2012 and 2018, Noble Mineral completed airborne electromagnetic and magnetic geophysical surveys on the property. The surveys outlined an anomalous gold trend that was followed up with a 3,184-meter drill program over 650 meters of the 1,700-meter strike length. Highlights from the 2018 drill program include 5 meters grading 1.42 g/t gold and 9.5 meters grading 1.84 g/t gold.
The company believes that the gold mineralization at Lucas is structurally controlled and occurs as discrete lenses stacked within the pyrite-gold mineralized tuff unit. Noble Mineral intends to conduct follow-up drilling during future work programs.
Other Projects
- Mann et al Twps: 11,900 hectares in the Timmins area of Northern Ontario, for which it holds the mineral rights focusing on nickel-cobalt-PGM optioned to Canada Nickel
- Dargavel Gold Trend: 7 kilometers strike length with gold results reported
- Lucas Gold: 17 kilometers strike length with gold results reported
- Cere-Villebon: 482 hectares near Val d’Or, Quebec with historic copper-nickel-PGM results on the property with drilling scheduled for winter 2023
- Laverlochere: 518 hectares near Rouyn-Noranda, Quebec follow up work on nickel-copper-cobalt-gold and PGM results from 1960’s
- Havre St Pierre: 10,152 hectares untested nickel, copper, gold prospect
- Central Newfoundland: ~14,400 hectares untested VMS/copper/gold anomaly with a 15-kilometer strike length with airborne EM and Mag for 2023
- Holdsworth Gold: ~304 hectares gold project near Wawa, Northern Ontario
Management Team
H. Vance White - President, CEO and Director
H. Vance White has served as president and director of the company since 2003. He has been actively involved in the mineral exploration and production industry for over 50 years. White has also served as director and officer of several other reporting issuers, including Dickenson Mines, now Goldcorp/Newmont. He was the founder of AfriOre, now owned by Lonmin.
Robert Suttie - CFO
Robert Suttie currently works with Marrelli Support Services as its vice-president. He has more than 20 years of experience, 10 of which were in public accounting prior to his tenure with the Marrelli organization. He specializes in management advisory services, accounting and the financial disclosure needs of Marrelli’s public client base. Suttie also serves as CFO for a number of other junior mining companies listed on the TSX and TSXV, leveraging his skills and experience to become integral to the reporting issuers.
Wayne Holmstead – Exploration Manager
Wayne Holmstead brings Noble Mineral Exploration more than 40 years of exploration experience in Ontario and Quebec. He is a P.Geo who graduated from the University of Toronto holding positions of president, vice-president exploration, exploration manager and director for various junior mining companies over the years and has directed all aspects of mineral exploration in Canada.
He co-discovered and arranged financing for the MacLeod Lake copper-molybdenum-gold-silver deposit in James Bay, Quebec. He outlined 18 million tonnes of copper, molybdenum, gold and silver in the Main Zone, and discovered the South Zone and Rocky Point Zone at Macleod Lake through boulder tracing and beep mat prospecting.
Denis Frawley - Corporate Secretary
Denis Frawley is a corporate and securities lawyer at Ormston List Frawley LLP, where he has been practicing since 2006. He regularly advises companies involved in the mineral resource exploration and mining industries on matters related to corporate law, securities law, corporate governance and related areas. Frawley also routinely advises private and public companies on financings, mergers and acquisitions, joint ventures and general commercial and business matters. In addition, as part of his practice advising public companies, he frequently advises on reverse takeovers and other transformative transactions.
Prior to founding Ormston List Frawley LLP, Frawley was a partner in Toronto at another leading Canadian law firm. He received his bachelors of common and civil law degrees from McGill University and his Bachelor of Social Science in economics from the University of Ottawa. He is permitted to practice in Ontario and New York.
Birks Bovaird - Director
For the majority of his career, Birks Bovaird’s focus has been on the provision and implementation of corporate financial consulting and strategic planning services. He was previously the vice-president of corporate finance for one of Canada’s major accounting firms. He presently is the chairman of Energy Fuels Inc., a premier US-based integrated uranium miner listed on the TSX and NYSE. Bovaird is chairman of GTA Resources and Mining as well as a member of the audit committee. He has been involved with numerous public resource companies, both as a member of management and as a director. He is a graduate of the Canadian Director Education Program and holds the Institute of Corporate Directors (ICD.D) designation.
Michael C. Newbury - Director
Michael Newbury is a professional engineer, banker and project finance specialist with over 30 years of experience in the operation, financing and evaluation of natural resource projects. Newbury’s mining and technical expertise, as well as financial and engineering capabilities, enable the evaluation, assessment, development and operational plans and financial structures that manage project risk, minimize equity requirements and maximize shareholder value.
Newbury has a bachelor’s of science from McGill University, managed Barclays Bank’s World Mining Group and the Credit Suisse Corporate Banking Group. He was one of the initial partners in Endeavour Financial and provided his technical expertise to that group for over 10 years. He has extensive experience in the evaluation and financial structuring of natural resource projects in emerging market countries including Uzbekistan, Kazakhstan, South Africa, China and Venezuela, now Bolivarian Republic of Venezuela. Currently, he operates as an independent consultant and is on the Boards of a number of junior mining companies. He is Noble Mineral Exploration’s designated qualified person (QP) for geological reporting.
Yvan Champagne - Director
As the president of Blue Source Canada, the largest developer and marketer of projects to reduce greenhouse gas (GHG) in Canada, Yvan Champagne oversees project sourcing, offset sales, brokerage and advisory services for the Canadian market. An experienced leader and entrepreneur in carbon markets, Champagne has a great passion for and understanding of environmental technologies and GHG-reduction projects.
His broad experience includes GHG project screening, assessment and contracting, and advising companies and organizations across Canada on sustainable environmental strategies and programs. Champagne brings expertise in government relations, consulting in the energy sector, public affairs and marketing, and growing companies in new markets. Champagne obtained his Bachelor’s of arts in political science from Yale University with a focus on environmental policy and business-government relations. He is also a graduate of the Kellogg-Schulich Executive MBA program.
Dr. Samuel Peralta - Director
Dr. Samuel Peralta has 35 years of business experience in the energy and technology sectors, overseeing business development, product and process innovation and corporate transformation. He holds a PhD in physics, with an industry background in energy, mobile platforms and digital media, advanced sensors and semiconductors. Currently, he is CEO of Windrift Bay, which develops and manages a portfolio of technology and media properties. He was previously director of business and corporate development at Kinectrics, overseeing $70 million annually in high-tech programs for the energy industry.
Previously, he was CEO of Qvadis, a smartphone software provider and CTO for OH Solar, a photovoltaic firm based on an acquisition from Texas Instruments. Peralta served in key positions at Ontario Power Generation and the Ontario Laser and Lightwave Research Centre. He has served on the board of directors of public, private and non-profit firms, with committee leadership in governance, finance and audit, and special projects including mergers and acquisitions. Peralta served on the boards of Qvadis, Envergence, OPEL Solar, Axiom NDT, POET Technologies and the Organization of Canadian Nuclear Industries. He is currently sitting on the boards of Cobalt Blockchain, Noble Mineral Exploration and Windrift Bay.
Stephen Balch – Special Advisor
Stephen Balch, a professional geologist, has over 30 years of experience in mineral exploration as an exploration geophysicist. He is one of Canada’s leading experts on geophysical techniques used to identify nickel-copper sulfide and platinum-group-metal targets. Since 2010, he has served as president and a director of Triumph Instruments, a company that conducts airborne time-domain electromagnetic surveys in North America, China and Mexico.
Since 2001, he has been president of Balch Exploration Consulting, a company that provides consulting services to major mining and junior exploration companies. From 2007 to 2015, Balch served as the president and a director of Canadian Mining Geophysics, a geophysical data recording company. He currently serves as vice-president of exploration for Canada Nickel.
Dr Ed van Hees - Consultant
Dr. Ed van Hees is a registered professional geoscientist with over 40 years of domestic and international experience working in, exploring for, and doing research on the origin and geochemistry of Orogenic gold deposits. He has worked as an exploration field geologist, mine geologist, exploration manager, consulting geologist, research scientist and professor of geology. Most recently, van Hees was employed as the Regional Resident Geologist responsible for the Timmins and Sault Ste Marie Mining Districts with the Ontario Geological Survey Resident Geology Program. Here he supervised the professional staff and authored / co-authored 7 Annual Reports of Activity and 10 Recommendations for Exploration between 2016 and 2020. Starting in 2019 he was employed as a professor for the Haileybury School of Mines where he has taught and helped develop seven geology, geochemistry, geophysics and environmental courses. From 2001 to 2015, van Hees was a professor of geology at Wayne State University in Detroit, Michigan, where taught core geology courses including mineralogy, petrology, structural geology and exploration / economic geology, as well as conducting research on the geochemistry and structural geology of orogenic gold deposits, and the geochemistry of metal pollution. In total, he has authored/co-authored 36 publications.
Noble Minerals Announces Drilling Results from Noble Minerals-Canada Nickel Joint Venture
Drill Program completed on the Mann and Reaume Properties, part of the Noble Minerals-Canada Nickel Joint Venture (ExploreCo)
Mann Central Property: Drill results include 223 meters of 0.29% nickel including 10 meters of 0.51% nickel
Mann West Property: Drilling successfully delineated mineralization over a 1,700 meter strike length and 600 meters width
First assays from 2024 drilling at Mann West yield excellent results including 330 metres of 0.26% nickel in MAN24-58 including a total of 24.5 metres of 0.35% nickel; initial resource estimate expected by Q1 2025
Multiple gold intervals in Mann North drilling including 4.5 metres of 2.36 g/t gold within 45 metres of 0.45 g/t gold at MAN24-67
Reaume Property: Drilling indicated an improved nickel grade
Toronto, Ontario – TheNewswire - October 31, 2024 – Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce results of a drill program on joint venture properties (ExploreCo) north of Timmins Ontario (See Canada Nickel Press Release dated October 31, 2024).
ExploreCo, the name of which will be announced in due course, will control 1,989 mining claims totaling approximately 42,000 hectares and will include nickel properties in Mann, Newmarket, and Reaume Townships as well as Calder, Galna, McCool, Moody, Mortimer, Stimson, and other properties currently held by Canada Nickel (see Figure 1, ExploreCo properties shown in purple).
Click Image To View Full Size
Figure 1 - Regional Map of ExploreCo Properties (purple)
Under the Binding Letter of Intent, the first $5 million of funding for ExploreCo will be provided from existing funds by Canada Nickel, after which costs will be funded by pro rata ownership basis, which will initially be 80% Canada Nickel and 20% Noble. Canada Nickel and Noble will continue to maintain their existing royalty rights on the ExploreCo claims, as will previous claim owners who had vended claims to Noble. (see NR July 8, 2024)
Mann Property
The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane. The Company has completed a drill program in three of the four identified areas within the property, Mann North, Mann West (together formerly Mann Northwest), and Central. (Figure 2). Exploration at Mann South is currently underway. Canada Nickel currently owns 80% of the Mann Property after successfully completing an earlier earn-in agreement with Noble Mineral Exploration. This property is part of the creation of an 'ExploreCo' subsidiary with Noble Mineral Exploration (see press release July 8, 2024) with Noble owning the other 20%.
Figure 2 – Mann Property
Click Image To View Full Size
Mann West
Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program has focused on the southern half of the target with drilling completed over a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled 40 holes to date at Mann West (Figure 3), 31 of which were drilled during the 2024 program. With this drilling, the Company has completed the first phase of exploration that is required for an initial resource estimate expected by Q1 2025. Assays from nine holes are presented in this release, with the remaining holes at Mann West still pending.
Table 2 – Mann West drilling highlights.
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
MANN WEST | ||||||||||
MAN24-33 | 11.2 | 396.0 | 384.8 | 0.24 | 0.011 | 0.009 | 0.008 | 0.35 | 6.48 | 0.028 |
including | 174.0 | 183.0 | 9.0 | 0.30 | 0.014 | 0.018 | 0.011 | 0.18 | 6.34 | 0.100 |
MAN24-37 | 8.7 | 180.0 | 171.3 | 0.26 | 0.011 | 0.005 | 0.006 | 0.15 | 6.04 | 0.037 |
and | 236.4 | 402.0 | 165.6 | 0.26 | 0.012 | 0.008 | 0.007 | 0.24 | 6.26 | 0.071 |
including | 267.0 | 273.0 | 6.0 | 0.37 | 0.013 | 0.004 | 0.005 | 0.30 | 7.73 | 0.100 |
and | 361.5 | 369.0 | 7.5 | 0.38 | 0.013 | 0.078 | 0.043 | 0.18 | 6.35 | 0.162 |
MAN24-45 | 6.2 | 402.0 | 395.8 | 0.24 | 0.013 | 0.016 | 0.010 | 0.39 | 6.60 | 0.235 |
including | 136.5 | 144.0 | 7.5 | 0.30 | 0.014 | 0.044 | 0.015 | 0.75 | 6.99 | 0.086 |
MAN24-49 | 5.4 | 198.2 | 192.8 | 0.19 | 0.013 | 0.029 | 0.017 | 0.41 | 7.44 | 0.081 |
and | 221.6 | 402.0 | 180.4 | 0.21 | 0.011 | 0.003 | 0.006 | 0.42 | 6.69 | 0.033 |
MAN24-54 | 49.5 | 192.8 | 143.3 | 0.26 | 0.011 | 0.003 | 0.003 | 0.13 | 5.80 | 0.045 |
and | 216.5 | 402.0 | 185.5 | 0.27 | 0.012 | 0.012 | 0.007 | 0.28 | 6.22 | 0.029 |
including | 268.5 | 277.5 | 9.0 | 0.48 | 0.019 | 0.003 | 0.003 | 0.62 | 7.86 | 0.015 |
MAN24-58 | 21.0 | 351.0 | 330.0 | 0.26 | 0.013 | 0.015 | 0.007 | 0.24 | 6.51 | 0.076 |
including | 193.5 | 204.5 | 11.0 | 0.35 | 0.015 | 0.023 | 0.009 | 0.44 | 6.86 | 0.110 |
and | 307.5 | 321.0 | 13.5 | 0.36 | 0.016 | 0.040 | 0.018 | 0.19 | 7.17 | 0.130 |
MAN24-62 | 8.6 | 501.0 | 492.4 | 0.18 | 0.014 | 0.041 | 0.026 | 0.31 | 7.88 | 0.047 |
MAN24-69 | 7.2 | 229.5 | 222.3 | 0.19 | 0.013 | 0.022 | 0.015 | 0.38 | 7.35 | 0.054 |
and | 264.0 | 491.0 | 227.0 | 0.19 | 0.013 | 0.004 | 0.005 | 0.41 | 7.35 | 0.023 |
MAN24-71 | 23.5 | 260.5 | 237.0 | 0.27 | 0.012 | 0.011 | 0.009 | 0.25 | 6.29 | 0.082 |
including | 63.0 | 108.0 | 45.0 | 0.37 | 0.013 | 0.036 | 0.018 | 0.15 | 5.77 | 0.196 |
and | 302.2 | 501.0 | 198.8 | 0.17 | 0.012 | 0.014 | 0.032 | 0.36 | 7.56 | 0.027 |
*True width undetermined. All lengths are drillhole lengths.
Figure 3 – Mann West
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Mann Central
The outline of the ultramafic body at Mann Central is estimated by magnetics to be 4.5 kilometres long and between 0.5 to 1.0 kilometres wide (or 3.1 square kilometres). Drilling at this target was completed during the spring/summer of 2024 and now totals 32 drillholes and 11,853 metres. Mineralization is more consistent near the center of the target over an area of 1.9 kilometres by 600 metres (1.1 square kilometres). This release provides an update for 13 drillholes (Table 3), all of which intersected varying degrees of mineralized peridotite with minor pyroxenite dykes.
Mafic volcanics with abundant sulphide mineralization in the north contact were intersected in eight holes including MAN24-32 which yielded 3.3 metres of 1.03% nickel, 0.31% cobalt, and 0.57 % copper. Assays are still pending for 10 drillholes and the results from nine drillholes were previously released (see press release September 10, 2024).
Table 3 – Mann Central drilling highlights.
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
MAN24-19 | 3.0 | 304.0 | 301.0 | 0.18 | 0.012 | 0.008 | 0.006 | 0.42 | 7.36 | 0.037 |
and | 384.0 | 396.8 | 12.8 | 0.18 | 0.010 | 0.003 | 0.008 | 0.33 | 6.29 | 0.083 |
MAN24-22 | 9.0 | 552.0 | 543.0 | 0.24 | 0.012 | 0.005 | 0.006 | 0.17 | 5.90 | 0.057 |
Including | 195.0 | 207.0 | 12.0 | 0.29 | 0.013 | 0.022 | 0.008 | 0.14 | 5.66 | 0.082 |
MAN24-26 | 12.0 | 55.5 | 43.0 | 0.25 | 0.011 | 0.003 | 0.008 | 0.18 | 5.85 | 0.101 |
and | 100.5 | 399.0 | 298.5 | 0.23 | 0.011 | 0.004 | 0.003 | 0.16 | 6.22 | 0.052 |
MAN24-32 | 90.0 | 402.0 | 312.0 | 0.21 | 0.015 | 0.004 | 0.004 | 0.27 | 6.42 | 0.121 |
including | 96.0 | 99.3 | 3.3 | 1.03 | 0.308 | 0.026 | 0.013 | 0.14 | 19.78 | 4.840 |
MAN24-34 | 75.0 | 259.0 | 184.0 | 0.22 | 0.011 | 0.008 | 0.008 | 0.31 | 6.79 | 0.044 |
and | 297.0 | 402.0 | 105.0 | 0.24 | 0.011 | 0.007 | 0.008 | 0.22 | 5.97 | 0.080 |
MAN24-35 | 25.2 | 144.3 | 119.1 | 0.22 | 0.012 | 0.003 | 0.004 | 0.24 | 6.74 | 0.051 |
and | 161.0 | 387.0 | 226.0 | 0.18 | 0.013 | 0.005 | 0.006 | 0.40 | 7.39 | 0.030 |
MAN24-39 | 97.5 | 171.0 | 73.5 | 0.19 | 0.011 | 0.007 | 0.007 | 0.45 | 7.28 | 0.049 |
MAN24-40 | 103.3 | 153.0 | 49.7 | 0.24 | 0.012 | 0.004 | 0.004 | 0.26 | 6.10 | 0.071 |
and | 141.0 | 396.0 | 255.0 | 0.21 | 0.012 | 0.005 | 0.005 | 0.41 | 7.05 | 0.031 |
MAN24-43 | 76.7 | 182.4 | 105.7 | 0.22 | 0.012 | 0.005 | 0.006 | 0.22 | 6.37 | 0.114 |
and | 205.4 | 402.0 | 196.6 | 0.23 | 0.012 | 0.003 | 0.005 | 0.38 | 6.56 | 0.033 |
MAN24-44 | 43.0 | 186.7 | 143.7 | 0.21 | 0.011 | 0.004 | 0.004 | 0.30 | 6.65 | 0.029 |
and | 195.0 | 402.0 | 207.0 | 0.19 | 0.013 | 0.005 | 0.007 | 0.415 | 7.176 | 0.030 |
MAN24-52 | 11.4 | 46.7 | 35.3 | 0.31 | 0.037 | 0.003 | 0.006 | 0.169 | 5.794 | 0.176 |
and | 73.0 | 400.0 | 327.0 | 0.20 | 0.013 | 0.004 | 0.005 | 0.390 | 6.779 | 0.028 |
MAN24-56B | 45.0 | 402.0 | 357.0 | 0.20 | 0.013 | 0.003 | 0.005 | 0.411 | 7.126 | 0.022 |
MAN24-60 | 31.9 | 241.2 | 209.3 | 0.20 | 0.013 | 0.007 | 0.007 | 0.369 | 6.920 | 0.060 |
and | 277.5 | 310.9 | 33.4 | 0.26 | 0.015 | 0.003 | 0.004 | 0.055 | 8.981 | 0.057 |
*True width undetermined. All lengths are drillhole lengths.
Figure 4 – Mann Central
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Mann North
The Mann North target is approximately 1.5 kilometres long by 600 metres wide (0.9 square kilometres) (Figure 4). Drilling was completed during the summer of 2024 and consisted of a preliminary exploratory phase of 16 drillholes totaling 6,315 metres. The majority of these holes intersected long sections of peridotite, with minor dunite (Table 4) with nickel grades in the peridotite consistent with Crawford. The peridotites, however, have anomalous values of platinum (Pt) and palladium (Pd) over significant intervals, as seen on Table 5. Hole MAN24-31, for example, intersected 12.7 metres of 0.58 g/t Pt+Pd and MAN24-50 intersected 16.7 metres of 0.50 g/t Pt+Pd.
In addition to the anomalous Pt and Pd, the ultramafic units at Mann also have higher values for gold, especially near certain contacts. The intersections can be high grade and narrow such as in MAN23-12 which intersected 4.93 g/t gold over 1.5 metres or can be thicker and lower grade such as in MAN24-67 which intersected 0.45 g/t gold over 45.0 metres. Nine of 15 of the drillholes at Mann North assayed to date include gold intersections of 0.4 g/t gold or higher. Significant intersections are summarized in Table 6.
Assays are pending for three remaining holes.
Table 4 – Mann North drilling highlights
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
MAN24-24 | 39.0 | 109.5 | 70.5 | 0.15 | 0.010 | 0.004 | 0.003 | 0.43 | 6.77 | 0.061 |
MAN24-31 | 28.4 | 519.0 | 490.6 | 0.18 | 0.012 | 0.013 | 0.022 | 0.38 | 6.88 | 0.061 |
including | 57.0 | 72.0 | 15.0 | 0.30 | 0.014 | 0.044 | 0.024 | 0.28 | 6.47 | 0.280 |
MAN24-36 | 21.0 | 408.0 | 387.0 | 0.21 | 0.012 | 0.012 | 0.010 | 0.50 | 6.93 | 0.063 |
MAN24-46 | 18.8 | 312.5 | 293.7 | 0.17 | 0.012 | 0.005 | 0.007 | 0.40 | 7.54 | 0.028 |
and | 327.9 | 399.0 | 71.1 | 0.17 | 0.014 | 0.012 | 0.008 | 0.39 | 8.25 | 0.057 |
MAN24-47 | 18.0 | 402.0 | 384 | 0.18 | 0.012 | 0.006 | 0.008 | 0.48 | 7.36 | 0.035 |
MAN24-50 | 21.5 | 280.6 | 259.1 | 0.15 | 0.012 | 0.004 | 0.005 | 0.45 | 7.54 | 0.024 |
and | 313.5 | 390.0 | 76.5 | 0.18 | 0.013 | 0.010 | 0.011 | 0.41 | 7.29 | 0.051 |
MAN24-51 | 45.0 | 171.0 | 126 | 0.16 | 0.013 | 0.008 | 0.010 | 0.44 | 7.76 | 0.030 |
and | 196.0 | 402.0 | 206 | 0.16 | 0.012 | 0.005 | 0.005 | 0.34 | 7.25 | 0.032 |
MAN24-53 | 15.0 | 402.0 | 387 | 0.11 | 0.012 | 0.007 | 0.010 | 0.33 | 8.07 | 0.032 |
MAN24-55 | 17.4 | 177.8 | 160.4 | 0.18 | 0.013 | 0.005 | 0.005 | 0.53 | 7.56 | 0.046 |
and | 352.5 | 402.0 | 49.5 | 0.19 | 0.012 | 0.007 | 0.017 | 0.36 | 6.67 | 0.039 |
MAN24-59 | 31.5 | 402.0 | 370.5 | 0.15 | 0.012 | 0.010 | 0.011 | 0.38 | 7.19 | 0.044 |
MAN24-63 | 132.5 | 267.0 | 134.5 | 0.20 | 0.012 | 0.019 | 0.016 | 0.38 | 7.34 | 0.072 |
including | 142.5 | 156.0 | 13.5 | 0.34 | 0.012 | 0.060 | 0.031 | 0.14 | 7.20 | 0.020 |
and | 311.2 | 462.0 | 150.8 | 0.18 | 0.012 | 0.005 | 0.006 | 0.43 | 7.20 | 0.024 |
MAN24-67 | 15.6 | 420.0 | 404.4 | 0.15 | 0.012 | 0.025 | 0.021 | 0.36 | 7.72 | 0.039 |
including | 327.0 | 348.0 | 21.0 | 0.23 | 0.013 | 0.081 | 0.043 | 0.55 | 7.79 | 0.141 |
Table 5 – Mann Properties PGM Highlights
Hole ID | From (m) | To (m) | Length (m) | Pt+Pd (g/t) | Pd g/t) | Pt (g/t) | Ni (%) | Co (%) | Cr (%) | Fe (%) | S (%) |
MAN24-49 | 201.0 | 219.0 | 18.0 | 0.51 | 0.30 | 0.21 | 0.04 | 0.007 | 0.37 | 4.58 | 0.021 |
MAN24-62 | 309 | 327 | 18.0 | 0.44 | 0.31 | 0.13 | 0.18 | 0.015 | 0.49 | 8.11 | 0.054 |
MAN24-35 | 390.0 | 402.0 | 12.0 | 0.33 | 0.11 | 0.22 | 0.06 | 0.011 | 0.48 | 7.49 | 0.014 |
MAN24-60 | 242.1 | 265.5 | 23.4 | 0.43 | 0.25 | 0.18 | 0.03 | 0.007 | 0.36 | 5.01 | 0.014 |
and | 345.0 | 360.0 | 15.0 | 0.42 | 0.26 | 0.16 | 0.03 | 0.007 | 0.34 | 5.41 | 0.015 |
MAN24-69 | 238.0 | 255.0 | 17.0 | 0.45 | 0.26 | 0.19 | 0.04 | 0.007 | 0.39 | 4.76 | 0.013 |
MAN24-31 | 118.5 | 131.2 | 12.7 | 0.58 | 0.22 | 0.36 | 0.03 | 0.007 | 0.28 | 4.55 | 0.012 |
MAN24-38 | 125.0 | 138.0 | 13.0 | 0.32 | 0.21 | 0.11 | 0.02 | 0.007 | 0.28 | 6.79 | 0.024 |
and | 285.0 | 292.6 | 7.6 | 0.47 | 0.21 | 0.26 | 0.05 | 0.011 | 0.29 | 6.21 | 0.013 |
and | 382.5 | 396.2 | 13.7 | 0.39 | 0.18 | 0.21 | 0.05 | 0.012 | 0.36 | 5.64 | 0.018 |
MAN24-46 | 312.5 | 327.9 | 15.4 | 0.46 | 0.24 | 0.22 | 0.04 | 0.008 | 0.37 | 5.33 | 0.008 |
MAN24-50 | 280.6 | 297.3 | 16.7 | 0.50 | 0.33 | 0.17 | 0.03 | 0.007 | 0.38 | 5.07 | 0.011 |
MAN24-51 | 171.0 | 186.0 | 15.0 | 0.31 | 0.20 | 0.12 | 0.02 | 0.007 | 0.27 | 6.74 | 0.042 |
MAN24-55 | 288.0 | 337.0 | 49.0 | 0.33 | 0.17 | 0.17 | 0.02 | 0.007 | 0.25 | 6.33 | 0.038 |
MAN24-63 | 292.5 | 303.0 | 10.5 | 0.33 | 0.21 | 0.12 | 0.02 | 0.007 | 0.27 | 6.97 | 0.019 |
Figure 5 – Mann North
Click Image To View Full Size
Figure 6 – Mann North Gold Highlights
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Table 6 – Mann Properties Gold Highlights
Hole ID | From (m) | To (m) | Length (m) | Au (g/t) |
MAN24-19 | 382.5 | 384.0 | 1.5 | 0.40 |
MAN24-24 | 52.5 | 67.5 | 15.0 | 0.32 |
MAN24-31 | 57.0 | 58.5 | 1.5 | 0.41 |
MAN24-36 | 348.0 | 354.0 | 6.0 | 0.60 |
including | 348.0 | 349.5 | 1.5 | 1.58 |
MAN24-51 | 289.5 | 304.5 | 15.0 | 0.36 |
Including | 300.0 | 301.5 | 1.5 | 1.06 |
MAN24-55 | 396.0 | 399.0 | 3.0 | 0.36 |
MAN24-59 | 139.5 | 141.0 | 1.5 | 0.51 |
and | 274.5 | 276.0 | 1.5 | 0.98 |
MAN24-67 | 115.5 | 160.5 | 45.0 | 0.45 |
including | 118.5 | 121.5 | 3.0 | 1.15 |
and | 147.0 | 151.5 | 4.5 | 2.36 |
Reaume
The Reaume property is located 20 kilometres northeast of Crawford, 15 kilometres southwest of Cochrane, and 55 kilometres northeast of Timmins. The property will form part of the ExploreCo subsidiary assets with Noble on an 80%-20% (Canada Nickel-Noble) ownership basis. Prior drill campaigns in 2022 had seasonal access constraints, however, in June 2024, the Company resumed exploration and intersected a mineralized portion of the ultramafic body consisting of moderate to strongly serpentinized peridotite containing spotty, coarse-grained awaruite mineralization in hole REU24-12 (Figure 7). This release contains the results of three drillholes at Reaume with assay results pending on two remaining holes.
Table 7– Reaume drilling highlights.
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
REU24-11 | 36.0 | 501.0 | 465 | 0.19 | 0.012 | 0.004 | 0.005 | 0.623 | 7.403 | 0.020 |
REU24-12 | 40.3 | 561.0 | 520.7 | 0.19 | 0.013 | 0.003 | 0.006 | 0.588 | 7.375 | 0.026 |
Including | 330.0 | 375.0 | 45 | 0.24 | 0.012 | 0.004 | 0.005 | 0.262 | 6.818 | 0.017 |
REU24-14 | 18.0 | 40.5 | 22.5 | 0.23 | 0.015 | 0.005 | 0.003 | 0.403 | 7.743 | 0.047 |
and | 86.3 | 119.0 | 32.7 | 0.03 | 0.007 | 0.189 | 0.159 | 0.313 | 6.063 | 0.015 |
and | 147.0 | 402.0 | 255 | 0.18 | 0.013 | 0.009 | 0.013 | 0.543 | 7.880 | 0.037 |
including | 303.0 | 307.5 | 4.5 | 0.44 | 0.018 | 0.067 | 0.047 | 0.680 | 8.723 | 0.130 |
*True width undetermined. All lengths are drillhole lengths.
Table 8 Reaume PGM Highlights
Hole ID | From (m) | To (m) | Length (m) | Pt+Pd (g/t) | Pd g/t) | Pt (g/t) | Ni (%) | Co (%) | Cr (%) | Fe (%) | S (%) |
REU24-14 | 86.3 | 119.0 | 32.7 | 0.35 | 0.19 | 0.16 | 0.025 | 0.007 | 0.31 | 6.06 | 0.015 |
including | 100.5 | 105.0 | 4.5 | 0.67 | 0.43 | 0.24 | 0.022 | 0.006 | 0.33 | 5.56 | 0.012 |
Figure 7 – Reaume
Click Image To View Full Size
Table 9: Drillhole Orientation
Hole ID | Easting (mE) | Northing (mN) | Azimuth (⁰) | Dip (⁰) | Length (m) |
REID | |||||
REI24-41 | 457554 | 5404310 | 0 | -60 | 706 |
REI24-43 | 457350 | 5404200 | 70 | -60 | 696 |
REI24-45 | 457859 | 5403898 | 90 | -60 | 668 |
REI24-46 | 456306 | 5404370 | 180 | -50 | 702 |
REI24-47 | 457765 | 5404100 | 90 | -60 | 702 |
REI24-48 | 456860 | 5404060 | 180 | -55 | 702 |
REI24-50 | 457817 | 5404256 | 90 | -60 | 600 |
REI24-52 | 457350 | 5404200 | 180 | -60 | 759 |
MANN WEST | |||||
MAN24-33 | 496260 | 5412289 | 35 | -50 | 396 |
MAN24-37 | 496144 | 5412134 | 35 | -50 | 402 |
MAN24-45 | 495656 | 5412189 | 40 | -50 | 402 |
MAN24-49 | 495656 | 5412189 | 230 | -50 | 402 |
MAN24-54 | 495796 | 5412336 | 40 | -50 | 402 |
MAN24-58 | 495641 | 5412486 | 40 | -65 | 351 |
MAN24 - 62 | 495296 | 5412441 | 50 | -50 | 501 |
MANN CENTRAL | |||||
MAN24-19 | 496800 | 5410400 | 0 | -50 | 397 |
MAN24-22 | 498724 | 5410530 | 350 | -50 | 552 |
MAN24-26 | 498360 | 5410370 | 0 | -50 | 399 |
MAN24-32 | 498466 | 5410751 | 180 | -50 | 402 |
MAN24-34 | 498970 | 5410764 | 165 | -50 | 402 |
MAN24-35 | 497509 | 5410702 | 180 | -50 | 402 |
MAN24-39 | 498466 | 5410751 | 215 | -55 | 171 |
MAN24-40 | 497698 | 5410729 | 180 | -50 | 396 |
MAN24-43 | 498265 | 5410644 | 180 | -50 | 402 |
MAN24-44 | 497880 | 5410638 | 180 | -50 | 402 |
MAN24-52 | 498450 | 5410430 | 180 | -50 | 400 |
MAN24-56B | 498260 | 5410430 | 180 | -50 | 402 |
MAN24-60 | 498445 | 5410230 | 180 | -50 | 360 |
MANN NORTH | |||||
MAN24-24 | 496342 | 5414290 | 20 | -50 | 237 |
MAN24-31 | 497243 | 5413464 | 20 | -50 | 519 |
MAN24-36 | 497022 | 5413872 | 20 | -50 | 408 |
MAN24-46 | 497195 | 5413805 | 200 | -50 | 402 |
MAN24-47 | 497340 | 5413730 | 20 | -50 | 402 |
MAN24-50 | 497552 | 5413697 | 200 | -50 | 402 |
MAN24-51 | 497277 | 5414004 | 200 | -50 | 402 |
MAN24-53 | 497727 | 5413538 | 20 | -50 | 402 |
MAN24-55 | 496866 | 5413943 | 20 | -50 | 402 |
MAN24-59 | 496917 | 5414076 | 20 | -50 | 402 |
MAN24-67 | 496599 | 5414301 | 20 | -50 | 420 |
REAUME | |||||
REU24-11 | 488435 | 5422086 | 90 | -50 | 501 |
REU24-12 | 488424 | 5421854 | 90 | -50 | 561 |
REU24-14 | 488077 | 5422433 | 45 | -50 | 402 |
Quality Assurance and Control, Drilling and Assaying
Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by National Instrument 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby or SGS Callao (Peru). All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.
Qualified Person 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 .
Wayne Holmstead P.Geo (ON), a "qualified person" as defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and Lode Gold Resources Inc . , and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20% interest in ~11,000 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at:
www.noblemineralexploration.com .
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Noble Completes Phase 1 Drilling on Boulder Project near Hearst, Ontario:
Toronto, Ontario TheNewswire - October 29, 2024 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that Phase 1 drilling on the 214 claims in Way Township (Boulder Project) has been completed. 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 purpose of the Phase 1 drill program was to identify the nature of the till and bedrock geology in the vicinity of the mineralized boulder discovery. This was necessary since about 90% of the property is glacial till covered.
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 a surface 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 . In 2022 an airborne geophysical survey was flown over the property followed by a ground geophysical survey in November/December 2023.
The Phase 1 drill holes were 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. The data collected in the Phase 1 drill program is in the process of being evaluated.
Induced Polarization (IP) surveys conducted in 2024 identified several anomalies, located immediately north and northwest of the copper boulder discovery site. These IP and nearby magnetic anomalies coincide with the location overburden drill holes that produced gold grains in the overlying till.
Phase 2 drilling will be focussed on these various chargeability and conductive anomalies detected during the recent ground and airborne surveys and will likely start in 2025.
The 2024 drill program was partially funded by OJEP (the Ontario Junior Exploration Program) sponsored by the Ontario Government whereby 50% of the approved exploration expenses for the project will be refunded back to Noble.
Figure 1: 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.
The Lucas Township Gold Project
The Lucas Township Gold Project is a drill-ready project located approximately 30 km north of Timmins, Ontario.
In 2018 Noble completed 15 NQ size diamond drill holes totaling 3,184 meters covering approximately 650m strike length of the 1700m Gold Mineralized structure/trend identified from 2012 and 2018 Airborne Electromagnetic and Differential Magnetic Surveys. Noble located 37 historical drill-hole collars in the field and twinned three of these historical drill holes. No further work has been done since 2018.
The Project has 6 discrete IP anomalous trends which require follow-up exploration. Only one trend (Anomaly A, Figure 2, Table 1) has been investigated by diamond drilling to date. Gold mineralization is interpreted to be structurally controlled and occur as discrete lenses stacked within the pyrite plus gold mineralized tuffaceous unit.
Future work will include further drilling on the IP Anomaly A to further define the known gold mineralization. In addition, testing the other 5, undrilled, IP anomalies to test for gold mineralization similar to that found in Anomaly A.
Click Image To View Full Size
Figure 2: Plan of Induced Polarization Zones Projected to Surface with Collars of 2018 Drilling and Magnetic Background
Table 1: Gold Intersections from Noble's 2018 Drill Program (True width not known at this time)
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The Wawa-Holdsworth Project is located 3 km north of the town of Hawk Junction and 20 km northeast of the town of Wawa in Corbiere and Esquega Townships, Ontario and comprises 18 contiguous fee simple absolute patented claims covering approximately 285 hectares. The property has year-long road access as well as easy access to other infrastructure including rail, road, electrical power, labour force and suppliers.
Historic work has defined three gold targets on the Wawa Holdsworth Project (Figure 3 ) :
1) the Soocana Quartz Vein System
2) massive Pyrite Zones with an oxidized cap
3) black granular oxide zone referred to as the "Oxide Sands"
The Soocana Vein System was tested during 4 separate drill programs conducted between 1931 and 2008. Results from these drill programs indicated a strike length of 750 metres for the vein system.
Selected channel sampling results across a 51-meter strike length of this vein averaged 14.7 g/t Au in widths ranging from 0.5 to 1.5 meters. The latest drilling was done by Noble Minerals in 2008 (Table 2)
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Figure 3: Gold Zones on the Holdsworth Property
Table 2: Noble Minerals 2008 Drill Program on the Soocana Vein System (True width not known at this time)
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The massive Pyrite Zones appear to be formed in a sulphide iron formation and represents a distinct gold target. The sulphides exhibit shearing and form steeply 5 dipping east-west trending lenses distributed along a mafic/felsic metavolcanic contact over a defined strike length of 2.2 km. Initial drilling between 1918 and 1930 focussed on the sulphur content of the Pyrite Zones whereas the exploration programs of the 1980s recognized a gold association. Seven drill holes in Pyrite Zones contained assays that varied from nil to relatively wide sections gold bearing material, the best being 0.85 g/t over 11.83 metres in a 1988 drill hole (Reed Lake Exploration Ltd.). Another gold intersection of 5.18 g/t gold over 1.5 metre was also obtained in a sericite-altered shear zone in the hanging wall of this zone.
The Oxide Sands are believed to be the product of the weathering of the gold bearing massive pyrite zones described above. Detailed exploration work and systematic sampling of the Oxide Sands was undertaken by Noble Minerals over a strike length of 332.5 metres. At this location, where samples reached a depth of at least 8 meters, the average gold grade was 3.45 g/t and the average silver grade was 29.99 g/t. Other identified zones in the Oxide Sands remain to be tested in detail since they were not geologically defined or sampled. The spatial association between the Oxide Sands and the Pyrite Zones indicate that the 2.2 km-long strike-length is prospective for gold. Preliminary gold recovery tests carried out by Welch and SGS Lakefield on Oxide Sands material indicated gold recoveries ranging from 69% to 98.7 % for composite samples and from 45.6% to 89.8% for individual samples after a 48-hour agitated cyanide leach without sample crushing.
A model is currently being studied in order to efficiently extract the gold and silver from the Oxide Sands.
The Dargavel Property is accessed from Timmins by travelling approximately 60 km north on
Highway 655 and then using a maintained unmarked logging road. The project is located
within 250 to 700 m of a logging road.
First recorded exploration in the area, began with the International Nickel Company drilling 14 holes from 1964 to 1966, including hole 25013 which intercepted 3.06 g/t Au over 1.43 m at 65.62 meters depth. (see Table 3 and Figure 4)
From 1981 to 1982, Hudbay Mining Limited flew airborne EM surveys, following up on a few
anomalies with drilling. Hudbay drill tested these anomalies with 3 drill holes in the Dargavel
area (K-81-1, K-81-3, and K-81-4). A NW-SE trending long linear conductive feature was
attributed to an iron formation unit and drill tested, intercepting some pyrrhotite and pyrite
mineralization. Another drill hole testing a conductor intersected 0.96% Zn over 1.70 m.
Chevron Canada Resources Limited flew airborne EM surveys and performed IP surveys from 1984 to 1985. Chevron also conducted a drill program during this period with the K-84 and K-85 series drill holes. Hole K84-3 intercepted 7.1 g/t Au over 2.0 m at 72.0 m depth and 3.8 g/t Au over 2.1 m at 319.0 m depth; hole K85-9 intercepted 1.2 g/t Au over 1.0 m at 129.0 m depth. (see Table 3 and Figure 4)
Table 3: Historical Drilling Results on the Dargavel Property (True width not known at this time)
Click Image To View Full Size
Figure 4: Location of Historical Drilling
In 2011, Noble Mineral Exploration acquired the P81 Property from Abitibi Bowater Canada Inc. Noble performed regional helicopter airborne EM and magnetic surveys over various areas of the property in November 2011.
In 2020 Noble completed a 6-hole diamond drill program totaling 1390.5 m on the Dargavel
Property. The goal of the drill program was to follow up on historical anomalous gold values in
drill holes completed by INCO in their 1964 to 1966 drill campaigns and Chevron in their 1984
to 1985 drill campaigns. In addition to test new prospective areas based on the latest geological
and geophysical interpretation. (see Figure 5 and Table 4)
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Figure 5: Results of Noble 2020 Drill Program (True width not known at this time)
Table 4: Results of Noble 2020 Drill Program (True width not known at this time)
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In early 2022 Noble contracted NPLH Drilling to complete a 5-hole (and 1 abandoned hole) diamond drill program totaling 1253 m on the Dargavel Property. All samples collected from the drill core were submitted to Activation Laboratories Ltd Timmins (Actlabs) for analysis. A total of 291 samples were taken including 10 Standards and 6 Blanks.
Click Image To View Full Size
Figure 6: Location of Noble 2022 Drill Holes
Table 5: Results from Noble 2022 Drill Program
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The Lucas Township Gold Property, Holdsworth Gold Property and the Dargavel Gold Property are available for joint venture or option. For information contact Vance White (contact information at the end of this press release.
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.
Contact: H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Noble Minerals Announces Drilling Results from Noble Minerals-Canada Nickel Joint Venture
(TheNewswire)
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Highlights
Drill Program completed on the Mann and Reaume Properties, part of the Noble Minerals-Canada Nickel Joint Venture (ExploreCo)
Mann Central Property: Drill results include 223 meters of 0.29% nickel including 10 meters of 0.51% nickel
Mann West Property: Drilling successfully delineated mineralization over a 1,700 meter strike length and 600 meters width
Reaume Property: Drilling indicated an improved nickel grade
Toronto, Ontario – September 11, 2024 – TheNewswire – Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce results of a drill program on joint venture properties (ExploreCo) north of Timmins Ontario (See Canada Nickel Press Release dated September 10, 2024).
ExploreCo, the name of which will be announced in due course, will control 1,989 mining claims totaling approximately 42,000 hectares and will include nickel properties in Mann, Newmarket, and Reaume Townships as well as Calder, Galna, McCool, Moody, Mortimer, Stimson, and other properties currently held by Canada Nickel (see Figure 1, ExploreCo properties shown in purple).
Click Image To View Full Size
Figure 1: Regional Map of ExploreCo Properties (purple)
Under the Binding Letter of Intent, the first $5 million of funding for ExploreCo will be provided from existing funds by Canada Nickel, after which costs will be funded by pro rata ownership basis, which will initially be 80% Canada Nickel and 20% Noble. Canada Nickel and Noble will continue to maintain their existing royalty rights on the ExploreCo claims, as will previous claim owners who had vended claims to Noble. (see NR July 8, 2024)
Mann Property
The Mann property is located 22 kilometers east of Crawford, 20 kilometers south of Cochrane, and 45 kilometers northeast of Timmins. The property hosts a series of ultramafic rocks that are thought to be folded and faulted along a near-continuous 21-kilometre strike length. The ultramafic rocks continue to the southeast into Newmarket Township. The Company is currently conducting a drill program that has identified targets in four areas within Mann Township, Mann North, Mann West (together formerly Mann Northwest), Central and South.
Mann Central
The outline of the ultramafic body is estimated by magnetics to be 4.5 kilometers long and between 0.5 to 1.0 kilometers wide (or 3.1 square kilometers). Drilling at this target started in June 2024 and consisted of an initial exploratory phase that included 24 drillholes totaling 9,311 meters. This phase of drilling targeted the ultramafic body where it has a shallow dip to the north and is primarily composed of peridotite and minor dunite, with some pyroxenite dykes. Serpentinization of the host rock is moderate to high, containing fine-grained nickel mineralization, with serpentinization appearing more consistent near the center of the target where an area 1.9 kilometers by 600 meters (1.1 square kilometers) has now been delineated by drilling. In this area, hole MAN24-21 intersected 223.4 meters averaging 0.29% nickel, including a 10.5 meters section of 0.51% nickel. Assays are pending for the remaining 15 holes.
Mann North
The target is approximately 1.5 kilometers long by 600 meters wide (0.9 square kilometres). Drilling at Mann North began in June 2024 and consisted of a preliminary exploratory phase of 16 drillholes totaling 6,315 meters. The majority of these holes intersected long sections of peridotite, minor dunite, and lesser talc-rich ultramafic rocks, with strong serpentinization and good disseminated sulphide along most of the target strike length.
MAN24-28, was collared near the north end of the target, drilling to the southwest, starting in dunite at 27 meters downhole and ending in peridotite at 414 meters. MAN24-27 was drilled to test the northeast contact and intersected 5.9 metres of 0.52 g/t Platinum plus Palladium near a pyroxenite-gabbro contact. Assays are pending for the 14 remaining holes now completed.
Mann West
Mann West is approximately 3.5 kilometers long by up to 1.1 kilometers wide (covering 3.4 square kilometers). The drill program has focused on the southern half of the target and is currently exploring a strike length of 1.7 kilometers and a width of at least 600 metres. Drilling thus far has intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled 16 holes to date at Mann West and is halfway through this phase of exploration that is required for an initial resource estimate expected by Q1 2025. Assays for all the holes at Mann West are currently pending.
Mann South
This target is approximately 5.9 kilometres long by up to 1.2 kilometres wide, having an arcuate and irregular shape, with an overall area of 4.1 square kilometres. The drill program at Mann South started in August and first assay results are not expected until October 2024. Three holes have been completed, and successfully intersected varying degrees of serpentinized peridotite and minor pyroxenite. The Company will continue testing the strike length of Mann South into the fall of 2024.
Reaume Property
The Reaume property is located 20 kilometers northeast of Crawford, 15 kilometers southwest of Cochrane, and 55 kilometers northeast of Timmins. Prior drill campaigns in 2022 had seasonal access constraints, however, in June 2024, the Company resumed exploration and intersected a strongly mineralized portion of the ultramafic body consisting of moderate to strongly serpentinized peridotite containing spotty, coarse-grained awaruite mineralization in hole REU24-12. Assay results are pending on all 5 holes.
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.
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Noble and Canada Nickel Announce Spin-out of Mann Twp JV and Acquisition of Eastern Exploration Properties
(TheNewswire)
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Highlights
Noble has exercised all underlying options with Optionors on the Mann Twp properties
Consolidation of the Canada Nickel-Noble joint venture in Mann Township into a single private company for a future public listing
Transfer by Canada Nickel of several exploration properties east of Timmins
Transfer by Noble of several mining claims and patented mineral properties to Canada Nickel, as well as the right acquire surface rights that could be used within and around the Crawford Project
Provision of certain non-dilutive exploration funding requirements to be provided to the private company by Canada Nickel
Both Canada Nickel and Noble will retain their respective NSR's and NSR buy back rights where applicable
TORONTO, July 8, 2024 – Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce that it has signed a Binding Letter of Intent (the "LOI") with Canada Nickel Inc. ("Canada Nickel") whereby Noble and Canada Nickel will spin-out certain mining claims (the "Properties") into a new company to consolidate their interests in large tonnage, low grade nickel projects east of Timmins, Ontario.
The terms and conditions of the LOI between Canada Nickel and Noble will include:
(i) The creation of a private exploration company described herein as "ExploreCo", whereby Noble and Canada Nickel both transfer their interests in mining claims in Mann Township (the "Mann Property")
(ii) The transfer from Noble to Canada Nickel of certain mining claims and the transfer from Canada Nickel to ExploreCo of certain mining claims east of Timmins,
(iii) Canada Nickel providing initial flowthrough and hard dollar funding of $5 million from existing cash on-hand to ExploreCo, to be directed to exploration of the properties transferred into ExploreCo, After this initial funding, ExploreCo will be owned 80% by Canada Nickel and 20% by Noble Mineral Exploration and each Company will be responsible for their pro-rata share of funding.
(iv) The transfer by Noble of the right to acquire certain surface rights over the Noble Project 81 area that includes Canada Nickel's Crawford Project,
(v) The retention of underlying NSR and buy-back rights to Noble, Canada Nickel and any underlying NSR owners,
(vi) The retention of certain exploration rights by Noble on the transferred Project 81 claims and patents for non-nickel opportunities.
The transactions under the LOI remain subject to the parties negotiating a definitive agreement, as well as to compliance with legal requirements and any requirements of the TSX Venture Exchange. As such, Noble and Canada Nickel will announce further details as work on the transaction proceeds.
Commenting on the transaction under the LOI, Vance White, CEO of Noble said, "We felt that consolidating the eastern properties into a separate exploration company would maximize the value of the Mann Twp properties without incurring significant upfront dilution to Noble, and at the same time gain exposure to additional identified nickel sulphide targets in the Timmins camp in which Noble currently has no interest. ExploreCo will control ~1,989 mining claims totaling over 42,000 ha and will include Reaume, Mann and Newmarket Townships as well as McCool, Moody, Galna and other properties currently held by Canada Nickel. Noble will vend its interest in Project 81, together with the right to acquire surface rights over Project 81. For properties transferred from Noble to Canada Nickel, Noble will retain a 5-year exploration right to any non-nickel exploration target therein. This 5-year exploration right will be subject to an annual exploration right thereafter upon both parties' consent. Noble intends to use its best efforts so that -upon ExploreCo going public, a portion of Noble's holdings in ExploreCo will be distributed to Noble shareholders in order that they may have a direct benefit as ExploreCo advances all underlying properties to the development stage, although that is a future event and we cannot provide any assurances that this will be done".
The properties that would be held by ExploreCo include:
Figure 1 – Mann Northwest and Central – CNC Drillholes Over Total Magnetic Intensity.
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Figure 2 – NewMarket - CNCDrill Holes Over Total Magnetic Intensity
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Figure 3 - Newmarket – Mann Southeast targets
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Figure 4 – Moody, Mortimer and Stimson Properties
Moody is located 85 km northeast of Timmins and was staked by Canada Nickel (1,940 ha)
Mistango River Mines (1964) and Utah Mines Ltd. (1984) drilled 34 diamond holes and several reverse circulation holes, respectively, but the results were either not provided on MLAS or the core was not recovered
The ultramafic is interpreted to have dimensions of 4.2 km long by up to 700 metres wide
Mortimer is located 80 km northeast of Timmins and includes two ultramafic intrusions that cover a total distance of 10 km and was staked by Canada Nickel (2,732 ha)
The main intrusion has dimensions of 1.8 km long, up to 400 metres wide and has never been intersected by drilling
The secondary intrusion, although longer in strike extent, does not show the same high intensity in the TMI but does have three locally high responses within the intrusion, none of which appears to have been drilled
Stimson is located 82 km northeast of Timmins and encompasses a weakly magnetic ultramafic body having a strike length of at least 2 km and with a higher amplitude TMI of 400 metres long
The ultramafic is interpreted to be a more distal extension of more strongly magnetic ultramafics found in Mortimer and Moody Townships
Figure 5 – ExploreCo Properties
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Statement Regarding TSX Venture Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The completion of any transactions mentioned in this release is subject to customary closing conditions, including final TSX Venture Exchange approval.
Qualified Persons and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.
Michael Newbury PEng (ON), a "qualified person" as defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20% interest in ~11,000 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, ~518 hectares in the Laverlochere Nickel, Copper, PGM property and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets . Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. Canada Nickel's common shares trade on the TSX Venture Exchange under the symbol "CNC".
For more information, please visit www.canadanickel.com.
Cautionary Statement Concerning Forward-Looking Statements
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.co m
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Noble Minerals Initiates Temporarily Delayed Drill Program in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario
(TheNewswire)
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Toronto, Ontario TheNewswire - July 2, 2024 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that after a delay due to inclement weather, Noble is now ready to initiate their drill program. Extreme hot, dry weather in mid June gave way to thunderstorms and in some cases tornadoes. Noble was concerned with potential forest fire risk and the health and welfare of their workers. With the coming of more stable weather in July, the company is now ready to start the drill program.
The drill program is planned on 214 claims in Way Township. The claims extend from about 4 to 15 km southwest of the town of Hearst, Ontario. The property area is equivalent to approximately 4,500 hectares or 45 sq km. The drill program follows geophysical surveys done to identify targets that may be the source of the mineralized boulder. The recent geophysical program was partially funded by the Ontario Junior Exploration Program and application has been made to the same program to fund the drill program. The Program will fund up to $200,000 on a $400,000 exploration program.
The mineralized boulder was on display at the highly successful Canadian Mining Expo in Timmins, Ontario in June.
Historically, a sample of a metalliferous boulder, brought to the Timmins Mining District Regional Resident Geologist in 2019 by a Mr. A. Cousineau, was submitted for chemical analysis to Geolabs in Sudbury to establish its metal and mineralogical makeup. Geolabs determined that the boulder contained: 71.8% copper; 3.5% lead, 1.09% zinc; 252 g/t of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/t of platinum and consisted primarily of cuprite (van Hees et al., 2020).
In 2021, Noble launched an exploration program to in an effort to identify the source of the boulder. Basal till samples collected from two fences of hand auger holes, located about 100 m and 1 km north of the boulder, produced 35 gold grains . These gold grains define a southeast-northwest trending dispersion train that indicate they were transported southeast by a glacial transport from a source area located to the northwest. The dispersion train begins near a northeast trending magnetic anomaly. The gold grains are predominantly reshaped (24) but also include modified (7) and pristine (4), supporting evidence of a local source.
In 2022 an airborne geophysical survey was flown over the property followed by a ground geophysical survey in November/December 2023. The ground geophysical surveys included 29 line-kilometers of Magnetic, VLF-EM and Induced Polarization Survey. The airborne data was successful in outlining a significant northeast trending magnetic high unit that was traced from the southwest section of the survey block to the northeast corner of the survey block. Compilation of the ground based; detailed magnetic survey was done to highlight the northwest trending fault structure that coincides with the location of the boulder. This structure extends at least 1,100 meters and is represented by a modest magnetic low signature commencing at the southeast corner of the grid. The structure can be traced across the grid, generally lying along the northern bank of the river, and has offset the modest magnetic high units in the same area. The western edge of the suspected fault terminates next to a northeast-southwest striking cross fault that also affects the strike of the river.
The approximate location of the mineralized, Cousineau Boulder appears to coincide with a slight bullseye high at the southeast end of one of the northwest striking cross dike like features. The dashed line is suggested at being a possible cross fault system . ( See Figure 1) .
The initial drill holes will be focussed in the vicinity of the boulder location in order to better understand the physical and fault related geology as defined by geophysics done in the Fall of 2023 (Figure 1). Additional drilling will be focussed on various chargeability and conductive anomalies detected during the recent ground surveys.
Click Image To View Full Size
Figure 1: Location of the boulder and initial drill holes (DDH) with identified faulting on detailed magnetic background.
Vance White, President and CEO of Noble, said "we are pleased with the progress on this property and to finally get underway the proposed drill program, the results of which may give us more clues as to the possible source of this rich boulder. While the odds are long, if successful, it could result in a significant find."
Figure 2 : Photo of the Cousineau Boulder
References:
van Hees, E.H., P. Bousquet, J. Suma-Momoh, C.M. Daniels, S.L.K. Hinz, C. Boucher, P. Sword, L. Wang, S.P. Fudge, A. Millette and C. Patterson, 2020. Report of Activities 2019, Resident Geologist Program, Timmins Regional Resident Geologist Report: Timmins and Sault Ste. Marie Districts; Ontario Geological Survey, Open File Report 6366, 160p.
Wayne Holmstead P.Geo (ON), a "qualified person" as defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and Lode Gold Resources Inc . , and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20% interest in ~11,000 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at:
www.noblemineralexploration.com .
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Ramp Metals
Investor Insights
Ramp Metals’ strategic focus on precious and base metals is essential for various growing industries in the global market. The company is in a compelling position to potentially make a significant gold discovery in a top-tier Canadian mining jurisdiction which is currently underexplored.
Overview
Ramp Metals (TSXV:RAMP) is a grassroots exploration company specializing in precious and base metals, particularly gold and nickel-copper-PGE. The company has two properties, two situated in Northern Saskatchewan, Canada.
The flagship property, Rottenstone SW Claims is situated along a geological structure that historically yielded the highest-grade nickel and platinum group elements (PGE) in Canada. It exhibits remarkable parallels to the Nova-Bollinger nickel-copper mine in Western Australia, which was discovered by Sirius Resources and ultimately sold to IGO Limited for AU$1.8 billion. The Nova-Bollinger mine had an estimated resource of 13.1 million tons (Mt) grading 2 percent nickel, 0.8 percent copper, and 0.07 percent cobalt.
The striking similarity between Rottenstone and Nova-Bollinger mine is encouraging and the appointment of Dr. Mark Bennett, the discoverer of the Nova-Bollinger deposit, as a strategic advisor, reinforces Ramp’s belief in the potential of the Rottenstone property. Bennett has over three decades of experience in establishing mines, and played a key role in multiple discoveries, such as the Wahgnion gold mine, the Thunderbox gold mine, and the Waterloo nickel mine, in addition to the Nova-Bollinger nickel-copper mine. Along with Bennett, Ramp Metals has also appointed leading geologists Scott McLean and Richard Murphy, as its strategic advisors to bolster its geology team.
The project’s presence in Saskatchewan is also encouraging for investors given the region’s mining-friendly policies. Saskatchewan was ranked second globally and the top in Canada by the Fraser Institute as the most attractive jurisdiction for mining investment in 2021.
Saskatchewan has gained prominence for its abundant uranium resources, yet its geological diversity presents significant potential beyond this. Exploration for other battery metals in the region has been limited or largely unexplored.
Current Gold Landscape
According to data from the World Gold Council, total gold demand gained a record 5 percent year-over-year to 1,313 tons during the third quarter of 2024, resulting in a series of record-high gold prices during the same quarter. The value of demand rose 35 percent to more than US$100 billion for the first time ever.
A major driver for gold’s growth are global gold ETF inflows, while bar and coin investments dipped 9 percent year-over-year. Gold jewelry consumption declined 12 percent, despite an increase in spending, with the value of demand jumping to 13 percent to more than US$36 billion.
Year-to-date central bank buying remains in line with 2022, despite a notable slowing down in Q3 2024.
Gold application in technology continues to be driven by artificial intelligence, growing 7 percent year-over-year and the “outlook remains cautious,” the World Gold Council report said.
Outlook on Battery Metals
The demand for battery metals will continue to grow, due to a strengthening EV market. S&P Global Mobility's 2024 global sales forecast anticipates battery-electric passenger vehicles will reach approximately 13.3 million units worldwide by the end of 2024, an increase of 40 percent year-over-year. In terms of market share, EVs will constitute around 16.2 percent of the total global passenger vehicle sales in 2024, compared to 12 percent in 2023.
Further, the emerging trend toward high-density batteries using nickel and cobalt, and less lithium, is also expected to boost demand for these metals. As one of the top critical minerals in the US and Canada, nickel projects are likely to see increased funding over the coming years.
There is a strong demand in the market for new, high-quality nickel-copper and lithium opportunities. Rottenstone SW borders Fathom Nickel, which recently secured C$4.6 million in funding and seems to be focusing on a similar geological system. The Rottenstone SW eye structure presents an ideal target for nickel-copper-PGE exploration.
Company Highlights
- Ramp Metals is a precious and base metals exploration company with a focus on exploring high-grade gold and nickel-copper-PGE in Northern Saskatchewan. Ramp intends to uncover a new gold district in a region that is underexplored following its discovery of high-grade gold intercepts, including 73.55 g/t gold over 7.5m.
- The company has two properties covering a total area of 33,886 hectares. Of these, two are located in Northern Saskatchewan – Rottenstone SW Claims and Peter Lake Domain (PLD).
- The company’s flagship project Rottenstone SW property is situated adjacent to a northeast-southwest geological formation connected to the renowned Rottenstone Mine. This mine yielded 40,000 tons of high-grade nickel-copper-platinum group elements (PGE) and gold ore, with grades averaging 3.28 percent nickel, 1.83 copper, and 9.63 grams per ton platinum-palladium-gold.
- The geophysical program at Rottenstone highlights striking similarities with the Nova-Bollinger mine in Australia owned by Sirius Resources, which was eventually sold for AU$1.8 billion.
- Dr. Mark Bennett, founder of Sirius Resources who oversaw the development of the Nova-Bollinger mine, is a strategic advisor to Ramp Metals.
Key Projects
Rottenstone SW Claims
The Rottenstone SW property is approximately 115 kilometers north of La Ronge, Saskatchewan. The property comprises 12 claims encompassing 17,285.5 hectares and is situated adjacent to a northeast-southwest geological formation connected to the renowned Rottenstone Mine. This mine yielded 40,000 tons of high-grade nickel-copper-PGE and gold ore, with grades averaging 3.28 percent nickel, 1.83 copper, and 9.63 grams per ton platinum-palladium-gold.
The company has completed various geophysical surveys including time-domain airborne geophysical measurements (TDEM), and soil sampling, all aimed at identifying potential drill targets. The survey results show striking similarities between Rottenstone SW Claims and the Nova-Bollinger deposit. The Rottenstone SW conductors show a strong correlation with the conductors identified at the Nova-Bollinger deposit. Based on the geophysical survey results, the company has identified four high-priority targets.
The company’s first drill program at the Rottenstone property was completed in April 2024 which led to a new high-grade gold discovery of 73.55 g/t gold over 7.5 meters in drill hole Ranger-01.
The company has expanded the Rottenstone SW claim block to a total of 32,715 hectares. Additional unexplored EM and mag targets are situated on the original claim block with similar signatures to Ranger and Rogue.
Peter Lake Domain Claims
The Peter Lake Domain (PLD) property is situated within the Peter Lake Domain of the Swan River complex in Northern Saskatchewan, Canada, around 260 kilometers northeast of La Ronge, Saskatchewan. The property comprises two mineral deposit claims spanning approximately 1,171 hectares.
Peter Lake Domain has a history of exploration done by earlier operators. The previous exploration work returned surface grab samples of gabbro outcrop with disseminated pyrite and chalcopyrite (SMDI 5545) having values of 1,860 parts per million (ppm) copper, 461 ppm nickel, 41 parts per billion (ppb) platinum and 49 ppb palladium. A historical VTEM survey conducted by Geotech outlined compelling targets. According to Ramp Metals, the earlier operators drilled the property inaccurately and did not properly test the targets that were generated.
The project has the potential to be a major new discovery. Ramp Metals plans to undertake an airborne TDEM survey to build upon historical data and identify exploration targets. Once the targets are identified, the company will implement a drill program of about 2,000 to 2,500 meters.
Management Team
Jordan Black – Chief Executive Officer and Director
Jordan Black brings over 12 years of geotechnical engineering experience for various infrastructure, renewable energy and mining projects. Black was previously the vice-president of business development at GoldSpot Discoveries and worked as a senior geotechnical engineer at WSP Canada.
Garrett Smith – VP Exploration
Garrett Smith graduated with a BSc in geology from the University of Regina. Throughout his career, he has been involved in projects across Western Canada, focusing on various commodities. His extensive expertise ranges from greenfield mapping and exploration to on-site drill management. Driven by a genuine passion for exploration, Smith has dedicated the past few years to assembling a collection of base metal projects in northern Saskatchewan.
Brett Williams – VP Operations and Senior Geologist
Brett Williams is a seasoned geologist with a diverse background, having worked as a mine geologist in both open pit and underground mining, as well as an exploration geologist in the diamond, base metals, gold and uranium sectors for Rio Tinto and SSR Mining. He earned his B.Sc. in geology and a diploma in business administration from the University of Regina. Williams is a registered member of the Professional Engineers and Geoscientists of Saskatchewan.
Prit Singh – Director
Prit Singh is a seasoned capital markets professional and presently serves as the CEO of Thesis Capital, an advisory firm offering support to high-growth companies in fundraising, Canadian market initial public offerings and investor relations. Throughout his career, Singh has collaborated with more than 50 issuers, facilitating fundraising and providing counsel, resulting in the procurement of over $100 million in capital across various emerging sectors. Before establishing Thesis Capital, he gained experience in investment banking and wealth management, fostering enduring relationships within Canada's buy-side and sell-side communities. Singh holds a BBA with a specialization in finance from Brock University.
David Parker – Director
David Parker has more than 15 years of experience in business financing, consulting and recapitalizing public/private companies in the mining, technology, and media sectors. He also has experience in retail, office, and industrial real estate sales and development. He has led projects from initial market analysis to acquisition, design, approval, site servicing, construction and disposition. He understands the financial implications of technical issues and planning policy changes, making him an effective director.
Peter Schloo – Director
Peter Schloo has a decade of experience and expertise in capital markets, operations and assurance, and holds CPA, CA and CFA designations. Additionally, he is a licensed prospector in the province of Ontario, Canada. His track record includes facilitating over C$85 million in associated capital raising opportunities for both public and private enterprises. Currently, he is the CEO, president, and director of Heritage Mining, and a director of Pacific Empire Minerals. His previous roles included CFO of Spirit Banner Capital and VP corporate development and interim CFO for Ion Energy.
Michael Romanik – Director
Michael Romanik has over 14 years of resource exploration and public market experience with an emphasis on management, promotion and corporate finance. He has built an impressive network of resource and investment industry contacts over the years, and demonstrated a proven ability to utilize those relationships to advance his business objectives. Romanik has served as the president and CEO of GoldON Resources (TSXV:GLD) since 2009 and is a founding shareholder and the CEO of Silver Dollar Resources (CSE:SLVDF).
Advisory Team
Dr. Mark Bennett, Ph.D.
A PhD-qualified geologist with over 30 years of experience in capital raising, mineral exploration and establishing mines; Instrumental in several discoveries, including the Wahgnion gold mine, the Thunderbox gold mine and Waterloo nickel mine, and the Nova-Bollinger nickel-copper mine in Australia for Sirius Resources (acquired for AUD$1.8 billion in 2015); Involved in raising over $1 billion in debt and equity financing for funding exploration and development projects and overseen mergers, demergers, acquisitions, investments and divestments.
Scott McLean, P.Geo., FGC.
A professional geologist with over 35 years of senior management, executive and board experience in the metals and mining industry. Between 1985 and 2007, he worked for Falconbridge Limited and its successor Xstrata Nickel in various capacities throughout Canada with a focus on gold and base metal exploration; Founded HTX Minerals Corp in 2007, Transition Metals Corp in 2010, SPC Nickel Corp in 2013 and Canadian Gold Miner in 2016; Currently leads Transition Metals and is the Executive Chairman of SPC Nickel.
Richard Murphy, P.Geo.
A seasoned exploration entrepreneur with 27+ years of experience in the mineral exploration business. Brought two public companies through founding, acquisition, exploration and sales processes, most notably, Manitou Gold Inc. (acquired by Alamos Gold in Q2 2023). Expertise in building and advancing junior mining companies through discovery, resource definition and pre-feasibility stages to establish fully-valued mine reserves.
Noble Mineral Investor Kit
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