NLPXF - Exploration Update: Noble Acquires Cere Villebon Copper Nickel Cobalt Platinum Group Property Near Val d'Or Quebec
(TheNewswire)
Toronto, Ontario – TheNewswire - June 2 4 ,2021 - Noble Mineral Exploration Inc. ( “Noble” or the“Company” ) (TSXV:NOB )( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce that it has acquired the Cere Villebon property near Val d’Or, Quebec. The property consists of 15 claims (483 hectares). The property isroad and power accessible, located only 4 kilometers east of Highway117, the highway that connects Montreal to Val d’Or.
The Cere Villebon property consists of pyrrhotite andchalcopyrite mineralization in fracture fillings hosted by ultramaficrocks in the metamorphic halo of the Freville Batholith. The copper,nickel, platinum group mineralization is located in two zones, theNorth and the South Zone (See Figures 1 and 2).
Drilling and resource estimates done by the Groupe LaFosse Platinum Inc., in 1987, evaluated a historical resource of 421,840 tonnes grading 0.52%copper, 0.72 % nickel and 1.08 g/t combinedplatinum-palladium (Groupe La Fosse PlatinumInc., 1987 Annual Report). This estimate is historical in nature,non-compliant to NI 43-101 Mineral Resources and Mineral Reservesstandards, and therefore should not be relied upon. A Qualified Personhas not done sufficient work to classify the historical estimate ascurrent mineral resources, and these estimates should only beconsidered as an indication of the mineral potential of theProperty.
Diamond Drill Hole FV-87-1 drilled by LaFosse Platinumin 1987 into the North Zone intersected 27.38* meters of 0.70% nickel, 0.68%copper, 0.23 g/t platinum, 0.64 g/t palladium and 0.08 g/t goldincluding 7.65* meters of 0.94% nickel, 1.02% copper (See Figure 1).
* Exact width not known at this time.
Future work will include a complete compilation of pastdrilling and a drill program to verify past results and extend the twozones along strike and at depth.
Figure 1: North Mineralized Zone with historic drillingand geology.
Figure 2: South Mineralized Zone with historic drillingand geology.
The consideration for the acquisition are the costs ofstaking reserving to the vendor a 2% NSR that will be subject toNoble’s right to buyback 50% of the NSR for $1,000,000.
The Transactions are subject to approval of the Boardof Directors of each party where applicable, as well as to TSX VentureExchange approval and to compliance with securities and other laws andregulations.
Vance White, President and CEO of Noble, said “We areextremely pleased to be able to acquire this potentially valuableasset. Based on historic (non-compliant NI 43-101 resource estimatesas stated above and at current commodity prices the in-situvalue would have a gross value that could beconsidered economic. . . All historic drill holes were drilled to avertical depth of ~100m leaving the deposit open at depth.”
Michael Newbury PEng (ON), a "qualifiedperson" as such term is defined by National Instrument 43-101,has verified the data disclosed in this news release, and hasotherwise reviewed and approved the technical information in this newsrelease on behalf of Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-basedjunior exploration company which, in addition to its shareholdings inCanada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonaldMines Exploration Ltd., and its interest in the Holdsworth goldexploration property in the Wawa, Ontario area, holds approximately72,000 hectares of mineral rights in the Timmins-Cochrane areas ofNorthern Ontario known as Project 81. Project 81 hosts diversifieddrill-ready gold, nickel-cobalt and base metal exploration/VMS targetsat various stages of exploration. More detailed information isavailable on the website at www.noblemineralexploration.com .
Noble’s common shares trade on the TSX VentureExchange under the symbol “NOB”.
Cautionary Statement:
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release. No stock exchange, securities commission or otherregulatory authority has approved or disapproved the informationcontained herein.
The foregoing information may contain forward-lookingstatements relating to the future performance of Noble MineralExploration Inc. Forward-looking statements, specifically thoseconcerning future performance, are subject to certain risks anduncertainties, and actual results may differ materially from theCompany’s plans and expectations. These plans, expectations, risksand uncertainties are detailed herein and from time to time in thefilings made by the Company with the TSX Venture Exchange andsecurities regulators. Noble Mineral Exploration Inc. does notassume any obligation to update or revise its forward-lookingstatements, whether as a result of new information, future events orotherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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