NLPXF - Exploration Update: Noble Acquires Graphite Claims in Northern Quebec
(TheNewswire)
Toronto, Ontario - TheNewswire - June 21, 2021 – Noble MineralExploration Inc. ( “Noble” or the“Company” ) (TSXV:NOB )( FRANKFURT:NB7 )( OTC:NLPXF) is pleased to announce that it hasentered into an agreement to acquire t heBuckingham graphite property, which is located in the Outaouais regionof Western Québec, and to engage WayneHolmstead as the Company’s Exploration Manager. Pursuant to theagreement that was signed between the parties, when Noble completesthe acquisition of the Buckingham graphite property from Mr.Holmstead, the Company would also sign a consulting agreement for Mr.Holmstead to begin serving as Noble’s Exploration Manager.
Wayne Holmstead (B.Sc, P.Geo) brings Noble MineralExploration 40+ years of exploration experience in Ontario and Quebec. He is a P.Geo who graduated from the University of Toronto. Holding positions of President, Vice President Exploration,Exploration Manager and Director for various Junior Mining companiesover the years and he hasdirected all aspects of mineral exploration in Canada.
Selected Accomplishments include:
Co-discovered and arranged financing for the MacLeodLake Cu Mo Au Ag deposit in James Bay, Quebec. Later work outlined 18Mtonnes of copper, molybdenum, gold, and silver in the Main Zone. Discover ed the SouthZone and Rocky Point Zone at Macleod Lake through Boulder Tracing and Beep MatProspecting.
Generated and Optioned Exploration Properties to:
- Osisko (Troilus NorthGold)
- Royal Nickel(Qiqavik)
- Beaufield Resources(Troilus North and Kukames Gold)
- SNET (Lac Fire Lithiumproperty)
- X-Terra Resources(Veroneau Gold Property)
- UrbanGold Minerals(Numerous properties)
Acquired claims in the Troilus Area, Quebec forUrbanGold Minerals that led to the recent takeover bid by Troilus Goldto the benefit of UrbanGold shareholders.
Wayne uses advanced computer and instrument technologycombined with traditional exploration methods to generate projects andnew mineral discoveries.
With the assistance of Wayne, Noble Minerals hasacquired the following Quebec exploration properties for stakingcost.
Buckingham Graphite
The Buckingham graphite property is located in the Outaouais area of theGrenville Subprovince of Quebec.
The property consists of 30 claims (1803 hectares) andcontains 3 separate graphite occurrences. The main occurrence(McGuire) was worked byStratmin Inc. in 1985-86 when a ground electromagnetic survey was donefollowing a regional airborne survey. Three diamond drill holes werecompleted to intersect the electromagnetic anomalies, 2 of whichintersected graphite mineralization See Figure1 . The graphite was found to be hosted bymarble and gneissic rocks.
Hole Graphite Length
86-40 10.9% 2.00m*
86-45 9.1% 3.65m*
Hole 86-41 did not intersect the electromagneticanomaly. Additional visual estimations of graphitic horizons werenoted in the log descriptions but were not analyzed forgraphite.
Hole Interval(m) Width(m) Visual Graphite(Gp)
86-40 11.3-12.95 1.65* 10-15% Gp
86-40 13.9-14.05 0.15* 8-10% Gp
86-40 18.25-18.75 0.50* 5-10% Gp
86-40 21.2-21.35 0.15* 12-15% Gp
86-40 21.6-21.95 0.35* 10% Gp
86-45 66.35-66.55 0.20* 10-12% Gp
86-45 67.65-68.10 0.45* 3-6% Gp
* (True width not known at this time)
Figure 1: Results of Stratmin Electromagnetic Surveywith Location of Diamond Drill Holes
Although the nature of the graphite on the BuckinghamProperty has not been determined, graphite concurrences in this areaare normally coarse grained, flake graphite. This type of graphiteis the most desirable of the naturally occurring type s that is used to produce lithium-based batteries. Lithium-based batteries are required for a variety of 'green' technologies,including electric vehicles. The global demand for these types ofproducts is expected to rise as world governments lean towardsenvironmentally friendly products rather than petroleum-basedones.
The second graphite occurrence (Cummings) is describedas a "deposit in the form of narrow bands of graphite occurringin gneiss and marble over a length of 300 m and a width of 30 m. Thegraphite occurs in several irregular bands within the 30 m zone." The Cummings Occurrence is located about 1.5 km southeast of theMcGuire Occurrence.
The third graphite showing on the property is calledthe Robidoux Occurrence and is located about 4 km east of the McGuireOccurrence. It was described by the Quebec Superintendent of Minesin a 1910 report as a “partially uncovered graphitic bed over alength of about forty feet. Some shallow pits have also exposedgraphitic outcrops, presumably of the same bed, for an additionaldistance of 75 to 100 feet. The bed where exposed by the mainstripping is about four feet thick and dips into the side of a lowhill at an angle of 40 to 50 degrees.” It was also noted that“the graphite ore contains over 30% carbon.”
(Note: the exploration work, descriptions and analysisare historic and not 43-101 compliant)
Work program on the Buckingham Property will include aproperty visit with prospecting to identify the existing showings andhistoric drill holes. A beep mat will be used to identify newconductive zones that may represent graphitic horizons.
The consideration for the acquisition are the costs ofstaking and 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 Noble, as well as to compliance with TSX VentureExchange policies, securities laws and regulations and other laws andregulations.
Vance White, President and CEO of Noble, said “we areextremely pleased to have Wayne join the Noble team and to bring knowledge andunderstanding of projects in northern Ontario and Quebec. The additionof the Buckingham Graphite project adds in the search for viableprojects related to the ever-evolving batteryrelated industries in the search for a “greener” world. Following Exchangeapproval, a budget and plan of exploration will be developed.”
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 ExplorationInc.:
Noble Mineral Exploration Inc. is a Canadian-basedjunior exploration company which, in addition to its shareholdings inCanada Nickel CompanyInc., Spruce Ridge Resources Ltd. and MacDonald Mines ExplorationLtd., and its interest in the Holdsworth gold exploration property inthe Wawa, Ontario area, holds approximately 72,000 hectares of mineralrights in the Timmins-Cochrane areas of Northern Ontario known asProject 81. Project 81 hosts diversified drill-ready gold,nickel-cobalt and base metal exploration/VMS targets at various stagesof exploration. More detailed information is available on the websiteat www.noblemineralexploration.com .
Noble’s common shares trade on the TSX Venture Exchange 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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