Noble Minerals Completes AirTEM, Heli-borne Survey Near Go Metals, HSP Project, Havre St. Pierre, Quebec and Company Exploration Update

Noble Minerals Completes AirTEM, Heli-borne Survey Near Go Metals, HSP Project, Havre St. Pierre, Quebec and Company Exploration Update

(TheNewswire)

Toronto, Ontario TheNewswire - November 6, 2023 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) ( TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to give an update to ongoing exploration projects.

  • The AirTEM airborne survey recently completed on the NHSP Property in the Havre St. Pierre region of Quebec has detected an electromagnetic anomaly approximately 800m x 700m in size. Similar anomalies on the Go Metals Corp property in the same geological environment resulted in discovery of massive sulphide mineralization with good grades of copper and nickel and elevated platinum, palladium, cobalt and gold values.

  • Ground Magnetometer, VLF-EM and Induced Polarization surveys have been initiated on the Boulder Project in preparation for an overburden drilling campaign in an attempt to identify the source of a highly mineralized boulder found in the area.

  • Preparations are underway for the December start of a drill campaign on the Kidd2/Carnegie project in the vicinity of the Kidd Creek Mine near Timmins Ontario.

  • In the vicinity of Noble's Island Pond property, Newfoundland, Benton Resources announced favourable results on the Great Burnt Property (Benton Press Release Nov 1, 2023.). "Benton Hits Multiple High-Grade Copper Zones in First Two Holes Including 8.31% Cu over 13m and Continues to Intersect Copper-Rich Massive Sulphides in Drilling at Great Burnt". The conductive zone that hosts the South Pond gold mineralization crosses the Noble Mineral s claims and has not been explored by drilling to date.

NHSP Property

Noble is pleased to report the completion of an AirTEM airborne magnetic-electromagnetic survey on 188 claims (10,152 hectares) of strategic ground in the vicinity of Go Metals Corp, HSP Nickel Copper Platinum Group Project north of Havre St Pierre located in Quebec. The survey covers approximately 18 km of the total 29 km of prospective contact covered by the Noble claims. The contact of the Havre St Pierre Anorthositic Complex is near where Go Metals Corp reported the discovery of massive sulphide mineralization with significant grades of copper and nickel and elevated platinum, palladium, cobalt and gold values. (Go Metals Press Release Dated September 13, 2022).

The Noble claims cover part of the Havre St. Pierre Anorthositic Complex, which contains known nickel, copper and PGE mineralization. The claims cover magnetic features similar to Go Metal's, HSP Nickel-Copper discovery. Nickel, Copper and Platinum Group mineralization tends to accumulate near the intrusive contact that is identified by a sharp contrast between magnetic high and extreme magnetic low (the anorthosite). The Noble claims cover approximately 29 km of prospective contact. (Figure 1). The electromagnetic survey was done to identify additional prospective targets for further investigation.

The AirTEM survey was successful in identifying an 800 meter long conductive zone associated with a magnetic high within the margin of the anorthositic complex located on Noble claims. The EM anomaly was found to be associated with the NE contact margin of an area.


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Figure 1: Noble Claims relative to Go Metals, HSP Claims on a total field magnetic background.


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Figure 2: Noble Mineral s Airborne Survey Grid


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Figure 3: Location of Conductors on Apparent Conductivity Background


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Figure 4: Location of Conductors on Magnetic Field background

Future work will include evaluation of the airborne survey, ground follow-up that includes trenching and diamond drilling of identified targets. Ground follow-up and subsequent work will need to be delayed until next Spring because of the onset of winter weather in the are.

Boulder Project, Hearst Ontario

A sample of the 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). The type of copper mineralization found in the boulder is unusual for copper mineralization found in the Superior Province of the Canadian Shield. The primary mineral is cuprite, a soft, heavy, red oxide mineral (Cu2O) that is an important ore of copper worldwide.

In 2021, Noble launched an exploration program on the property in an effort to identify the source of the boulder. Basal till samples collected from two fence lines of hand auger holes, located about 100 m and 1 km north of the boulder location, produced 35 gold grains. These gold grains defined a southeast-northwest trending dispersion train that indicates they were transported southeast by the continental glacier from a source area located to the northwest. The dispersion train appears to begin near a northeast trending magnetic anomaly to the northwest of the property. The gold grains are predominantly reshaped (24) but also include modified (7) and pristine (4), supporting a local source for the mineralization.

Work is continuing on the Boulder Project near Hearst, Ontario. An application has been made for an Ontario Junior Exploration Grant that could provide up to $200,000 on a $400,000 program. The magnetometer, VLF-EM and Induced Polarization geophysical surveys have begun in preparation for overburden drilling in an attempt to identify the source of a highly mineralized boulder found in the area.


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Figure 5: Boulder project area with glacial ice movement directions in Way Township and potential targets (yellow stars).

Kidd2/Carnegie Project, Timmins Ontario

As previously announced, the drilling of the Kidd2/Carnegie project has been delayed until December. The delay is caused by an unusually wet spring and summer season making access to the drill sites very difficult. Helicopter support was considered; however, management determined that the additional expense was excessive and would much rather see the money spent on the ground. The drill contractor has informed Noble that they would commit 2 drills to the program in order to complete the program in an expeditious manner allowing the company to meet its timeline for the OJEP grant. The company's partner agreed with this decision. (For details on the project see Noble Press Release dated July 18, 2023)

Reference: 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.

Island Pond Property, Newfoundland

Favourable results announced on the Benton Resources, Great Burnt Property in the vicinity of Noble's Island Pond property. Benton Press Release (Nov 1, 2023) "Benton Hits Multiple High-Grade Copper Zones in First Two Holes Including 8.31% Cu over 13m and Continues to Intersect Copper-Rich Massive Sulphides in Drilling at Great Burnt"

The Great Burnt Main Zone has an NI 43-101 compliant resource prepared in 2022 for Spruce Ridge Resources Ltd. by P&E Mining Consultants Inc. of 667,000 Tonnes at 3.21% copper (indicated) and 482,000 Tonnes at 2.35% copper (inferred), contained within mining lease 211(10210M). The Copper resource remains open to the south and at depth. Highlights of the drill programs to date include:

  • GB20-05: 27.20 m of 8.06% Cu, including 7.75 m of 16.88% Cu

  • GB20-20: 22.75 m of 6.89% Cu, including 12.55 m of 10.59% Cu

  • GB18-05: 20.94 m of 6.21% Cu, including 6.98 m of 10.71% Cu

  • GB18-06: 9.97 m of 7.45% Cu, including 5.03 m of 11.42% Cu

  • GB16-08: 7.50 m of 9.45% Cu, including 3.00 m of 19.30% Cu

  • GB16-09: 5.75 m of 6.68% Cu, including 1.50 m of 11.70% Cu

Exploration at the South Pond Zone has identified potential for both copper and gold along several kilometers of strike. Highlights of the 2021 drill program include:

  • SP21-01: 1.69g/t Au over 51.00 m, including 3.19g/t Au over 11.00 m, within 10 m of surface

  • SP21-03: 2.36g/t Au over 15.00 m, including 11.33g/t Au over 1.00 m

  • SP21-08: 1.75g/t Au over 21.20 m, including 2.82g/t Au over 10.20 m

  • SP21-11: 1.34g/t Au over 17.60 m, including 2.48g/t Au over 4.20 m

  • SP21-14: 2.06g/t Au over 21.00 m

  • SP21-16: 1.72g/t Au over 10.00 m

The conductive zone that hosts the above mineralization crosses the Noble Mineral s claims and has not been explored by drilling to date. (Figure 6)

Note: Widths quoted are true core length, true widths are estimated at approximately 70% of core lengths

Figure 6: Noble's Island Pond Claims in relation to Benton's Great Burnt and South Pond Claims

Historical exploration results disclosed in this news release are non-compliant with the requirements of National Instrument 43-101.

Mitch Lavery, P.Geo (OGQ) a "qualified person" as such term is defined by National Instrument 43-101, has reviewed the Quebec data disclosed in this news release, and has approved the technical information in this news release on behalf of Noble.

Michael Newbury PEng (ON), a "qualified person" as such term is defined by National Instrument 43-101, has verified the Ontario data disclosed in this news release, and has approved the technical information in this news release on behalf of Noble.

About Noble Mineral Exploration Inc.:

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional ~11,000 hectares in the Timmins area and ~14,400 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, ~518 hectares in the Laverlochere Nickel, Copper, PGM property and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at www.noblemineralexploration.com .

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

Cautionary Statement:

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

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

Contacts:

H. Vance White, President

Phone: 416-214-2250

Fax: 416-367-1954

Email: info@noblemineralexploration.com

Investor Relations: ir@noblemineralexploration.com

Copyright (c) 2023 TheNewswire - All rights reserved.

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(TheNewswire)

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(TheNewswire)

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ON BEHALF OF THE BOARD

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President & CEO
Tel: 250-558-8340

Neither the 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.

Forward-Looking Information

This news release contains "forward–looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements that address the potential transaction with X1 including entering into the Acquisition Agreement, Canadian Securities Exchange and TSX Venture Exchange approval of the transaction, as applicable, approval of the shareholders of X1 and other statements relating to the technical, financial and business prospects of the Company, its projects and other matters, and the Company's plans and goals. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, the ability to secure equipment and personnel to carry out work programs, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, the interpretation of technical and scientific data, risks related to the inherent uncertainty of exploration and development and cost estimates and the potential for unexpected costs and expenses and including those filed under the Company's profile on SEDAR at www.sedarplus.ca . There is a possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, decrease in the price of metals, equipment failures or failure to obtain the necessary equipment, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

SOURCE SKRR Exploration Inc.

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