Noble Minerals Announces Drilling Results from Noble Minerals-Canada Nickel Joint Venture
11.09.2024 | The Newswire
Highlights
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Drill Program completed on the Mann and Reaume Properties - 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 SizeFigure 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".
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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