NLPXF - Exploration Update: Noble Acquires Laverlochere Nickel Copper Cobalt Gold and Platinum Group Property Near Rouyn-Noranda Quebec
(TheNewswire)
Toronto, Ontario – TheNewswire - June 2 9 ,2021 - Noble Mineral Exploration Inc. ( “Noble” or the “Company” )(TSXV:NOB ) ( FRANKFURT:NB7 )( OTC:NLPXF) is pleased to announce that it has acquired the Laverlochere property nearRouyn-Noranda, Quebec. The property consists of 12 claims (518hectares). The property is road and power accessible, located about100 kilometers south of Rouyn-Noranda.
The Laverlochere property is located on the southernpart, of the east-west trending Belleterre-Angliers greenstone beltthat is made up of an assemblage of sedimentary and volcanic rocks ofArchaen age (See Figure 1). Several Nickel-Copper-Platinum Groupoccurrences and showings have been discovered in theBelleterre-Angliers greenstone belt. Approximately 30 km east of theLaverlochere property, the Lac Kelly property reportedly contains of1.4 million tonnes of 0.7% Copper, 0.7% Nickel, 0.33 g/tPlatinum+Palladium with a potential for minor amounts of Cobalt andRhenium. In the same general area, Blondeau Nickel has outlined227,000 tonnes of mineralization grading 0.45% Copper and 0.45%Nickel. Historic exploration in the area has outlined four separatezones of Nickel-Copper-Platinum Group mineralization in gabbroicbodies interbedded in mafic to felsic volcanics (the above estimatesare historic in nature not 43-101 compliant).
The Lorraine Mine, located about 24 km east of theLaverlochere property operated from 1964 to 1968 and reported to haveproduced 600,000 tonnes grading 0.47% Nickel, 1.08% Copper, 6.86 g/tSilver and 0.67 g/t Gold from basaltic and gabbroic rocks. (See Figure1)
Figure 1: Regional setting of the Laverlochere Propertyon a magnetic background. Areas coloured pink are magnetic highsdenoting mafic to ultramafic rocks. The noted reserves or resourcesare not 43-101 compliant and historic in nature.
On the Laverlochere property, historic trenching anddrilling on the north shore of Lac Rousselot led to the discovery of aband of iron formation, striking N60°E (See Figure 2). The ironformation is brecciated and contains pyrite-rich lenses and veinletsof quartz. A trench, approximately 1,080 m to the southeast of theiron formation, exposed a silica bearing that contains considerableveinlets or dike-like masses of quartz that are well mineralized withchalcopyrite and pyrite. A 1.8 by 3.0 m shaftwas sunk on a 3 m long by 30 cm wide, mineralized quartz lens. Thelens strikes northwest and cuts across N30°W striking shearedandesites. The mineralization is primarily chalcopyrite and a 30 cmsample across the quartz lens analyzed 0.57% copper and 2.6 g/t gold .
In 1969, Inco drilled three holes under Lac Rousselot(See Figure 2). Drill hole 32375 was drilled to a depth of 309 mand in the upper section (0 to 93.9 m) intersected mainly andesiticand gabbroic rocks that were locally, weakly mineralized in pyrite,pyrrhotite and chalcopyrite. The lower part of the hole (from 93.9 to309 m) intersected serpentinized peridotite that was systematicallyanalyzed for copper, nickel and cobalt. The analyses reportedlyrevealed a 214.7 metermineralized interval grading 0.01% Copper, 0.29% Nickel and 0.02%Cobalt (Exact width not known at thistime).
Drill hole 32376, intersected mainly intermediatevolcanics, gabbroic, and dioritic rocks down to 97.6 m that wereweakly mineralized with pyrite, chalcopyrite and pyrrhotite (SeeFigure 2). From 97.6 m to the bottom of the hole at 108.8 mperidotite was intersected. Eight samples of core from the gabbro,andesite and a chlorite bearing schist were analyzed for copper,nickel, zinc, platinum group and gold. Analyses from the peridotitegraded 0.02% Copper and 0.224%Nickel over the 11.2 meter interval. Inaddition, combined Platinum-Palladium was 0.72 g/t and Gold 0.34 g/t (Exact width not known at this time). These analyticalresults are historic and have not been verified by Noble)
Figure 2: Compilation of significant mineralization onthe Laverlochere Property.
Future work will include a complete compilation of pastwork, geophysical surveys and a drill program to verify pastresults.
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 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 ”Thisadditional acquisition continues to add to our broad portfolio ofpotential project generator opportunities with past documentedexploration success over a number of years. We will continue to add toour base in this time of improved commodity prices and junior resourcefinancial capital market interest.”
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. Additional projects are beingacquired. More detailed information is available 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 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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