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Toronto, Ontario TheNewswire - July 18, 2023 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to report that the Ontario Government has granted Noble an OJEP grant for a diamond drill program on the Kidd2Carnegie Project near Timmins Ontario.
The OJEP program provides grants of up to $200,000 to promote the exploration of Critical Minerals in Ontario
Noble Minerals in a joint venture with 11530313 Canada Inc. plans to spend $600,000 (approximately 3,500 meters of drilling) on the current drill program approximately 2,000 meters north of the prolific Kidd Creek Mine.
Research by the Noble staff and a recent geophysical survey (including Induced Polarization) has identified excellent drill targets on Noble held ground.
The Kidd2/Carnegie project is devoted to finding the extension of the Kidd Creek mineralization.
The primary target of the drill program will be a chargeability anomaly located within the Noble Project Area.
Kidd2/Carnegie Project
The Kidd2/Carnegie Project consists of a group of patented and staked mining claims in the vicinity of the Kidd Creek Mine and 24 km north of Timmins Ontario. The Kidd deposit is one of the largest volcanogenic massive sulfide ore deposits in the world, and one of the world's largest base metal deposits and lies within the Abitibi greenstone belt and is presently owned by Glencore.
Exploration of this area in the past has been hindered by small land packages owned by various companies. Over the years, Noble has been successful in assembling one of the largest land inventories in the vicinity of the Kidd Creek Mine.
Noble Minerals has completed strategic Induced Polarization surveys within 2 km of the Kidd Creek open pit on the Fly Creek Rhyolite. The target of the program is rhyolite intercalated with ultramafic rocks on an anticlinal structure. It is postulated that these rhyolites are the same age as the Kidd Creek mineralized rhyolites. Bleeker (1999)* proposed that faults that slice through the Kidd Creek mine fold have displaced the northern limb of the Kidd Creek Mine fold up to 2 km to the north and are interpreted to be time-stratigraphic equivalent. (See Figure 1).
In addition, the Fly Creek Rhyolite may be the faulted extension of the Chance Rhyolite where several Texas Gulf drill holes intersected lead, zinc and silver mineralization.
To the west, Noble has used Induced Polarization to investigate a property that lies within 600 meters and on strike with the Chance mineralization. This stratigraphic horizon also runs through the Kidd Creek Mine.
*Bleeker, W., 1999. Structure, Stratigraphy, and Primary Setting of the Kidd Creek Volcanogenic Massive Sulfide Deposit: A Semiquantitative Reconstruction. Economic Geology Monograph 10, p. 71-121
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Figure 1: Geological Map of the Kidd Creek Area showing Relation of Area Rhyolites to the Kidd Creek Rhyolite
Drill Program
The primary target of the drill program will be a chargeability anomaly located within the Noble Project Area on Figure 1 and located about 2000 meters north of the Kidd Creek Mine. Figure 2 is a plan showing the location of the chargeability anomaly and proposed drill holes. Figure 3 is a pseudo-section with the corresponding resistivity and metal factor.
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Figure 2: P lan showing the location of the chargeability anomaly, proposed drill holes, and mineralization encountered in past drill programs (yellow stars).
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Figure 3: Pseudo-section with the corresponding resistivity and metal factor.
Vance White, President and CEO of Noble, said "We are very pleased to get this program started with the support of the OJEP grant and our partners 11530313 Canada Inc. Drilling will be underway in the very near term."
Michael Newbury PEng (ON), 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 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 its ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, its ~3,700 hectares in the Buckingham Graphite Property, its ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, its ~518 hectares in the Laverlochere Nickel, Copper, PGM property, all of which are in the Province of Quebec. More detailed information is available on the website at: https://www.noblemineralexploration.com
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
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