NLPXF - Exploration Update: Noble Acquires Claims in MacDiarmid and Loveland Twps - Forms an Alliance with IEP -
(TheNewswire)
Toronto, Ontario – TheNewswire - January 19, 202 1 – Noble Mineral Exploration Inc. ( “Noble” or the“Company” ) (TSXV:NOB ) , ( FRANKFURT:NB7 ) , ( OTC:NLPXF) is pleased toannounce that it has entered into a Letter of Intent withInternational Explorers and Prospectors Ltd (“IEP” or “InternationalExplorers”) to acquire an additional 39 miningclaims (the“Claims ” ) in MacDiarmid andLoveland Townships (see Figure 1) that are contiguous to its existingclaims that have been optioned to Canada Nickel Company Inc. (“CNC” or “CanadaNickel” ).
Figure 1. Noble is acquiring 39mining claims from IEP .
NOB and IEP are also establishing a Strategic Allianceto evaluate the extensive land package held by IEP that is nearby andcommonly contiguous to Noble’s Project 81. Noble and IEP would nowshare contiguous boundaries in an area that is 200km by 100km. (seeFigure 2).
Figure 2. Noble and IEP will form alarge contiguous land position near Timmins, Ontario .
The Claims cover volcanic rocks of the Kidd Munroassemblage that have been periodically intruded by Ni-Cu bearing maficto ultramafic intrusions. This assemblage hosts the world’s largestVMS deposit in Kidd Creek approximately 20 km to the east and Ni-Cudeposits such as Enid Creek in Loveland Twp., and the CrawfordNi-Co-Pd deposit in Crawford Twp. The area is thus highly prospectivefor Ni-Cu, Ni-Co+/-Pd, Gold and VMS deposits. Like other prospects inthe Timmins region, the area is covered by thick glacial till andconductive clays (up to 50 m) that hampered earlier explorationefforts.
While historic exploration data is available from theOntario Government, much of it online, IEP has access to unpublishedexploration data that will be of great value in exploring MacDiarmidand Loveland Townships. A Mineral Exploration Research Center-industryconsortium project is currently acquiring high resolution audiomagneto-telluric (AMT) data within parts of this area to betterunderstand the 3D distribution of sulfide-bearing units.
Terms of the Transaction are as set out below:
The transaction is subject to approval of the Board ofDirectors of each party and of the TSX Venture approval, as well ascompliance with securities and other laws and regulations.
Vance White, President and CEO of Noble, said “we areextremely pleased to be able to acquire these assets fromInternational Explorers, and to work with Lionel Bonhomme and his teamat IEP, as this property ties directly onto the MacDiarmid OptionProperty, we have with Canada Nickel in MacDiarmid Township. Further,this strategic relationship is the initial establishment with IEP whoare, as you can see from the attached map, a significant land holderin close and contiguous proximity to Noble’s Project 81 lands, butmore importantly IEP are also in possession of one of the largestexploration data sets of the Timmins camp. I am confident this will bea tremendous relationship.”
Randy S C Singh PGeo (ON), PEng (ON), VP Exploration& Project Development of Noble and a "qualified person"as such term is defined by National Instrument 43-101, has reliedexclusively on the JV partner QP personnel in verifying the technicaldata disclosed in this news release on behalf of Noble MineralExploration Inc.
About International Explorers andProspectors Inc .
International Explorers and Prospectors Inc. is aprivately owned, research focused, exploration company controllingover 75,000 hectares of prime exploration properties in the AbitibiGreenstone Belt. IEP owns several advanced goldprojects along the Destor-Porcupine and Pipestone Faults near Timminsas well as some projects in Quebec. IEP controls a large VMS landposition in the Kidd-Munro Assemblage and the Blake-River Assemblageincluding historic base metal resources.
IEP has an experienced team with proven track record ofdiscovery of VMS, Cu-Ni-PGE and Gold exploration in the Abitibi. Thecompany has also secured the services of experienced government andacademic geologists representing over 200 years combined experience inthe Abitibi.
More detailed information is available on the websiteat www.internationalexplorersandprospectors.com
About Noble Mineral ExplorationInc.:
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 area of Wawa, Ontario, 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 targets atvarious stages of exploration. More detailed information is availableon the website at www.noblemineralexploration.com .
Noble’s common shares trade on the TSX VentureExchange under the symbol “NOB”.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release. No stock exchange,securities commission or other regulatory authority has approved ordisapproved the information contained 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 and uncertainties, andactual results may differ materially from the Company’s plans andexpectations. These plans, expectations, risks and uncertainties aredetailed 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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