NLPXF - Exploration Update: Noble to Resume Work on the Dargavel Township Gold Property near Cochrane Ontario
(TheNewswire)
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- Previous diamond drilling by Noble foundgold mineralization over 7.5 kilometers of strike, open in bothdirections and in width
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- Drill intersections included; 2.84 g/t goldover 1.5 meters and 0.67 g/t over 18.0 meters*
- Present work program includes a 20kilometer Induced Polarization survey and 2,000 meters of additionaldiamond drilling
- Noble has made application to the Ontario Junior ExplorationProgram sponsored by theOntario Government to fund up to $200,000 of the proposedprogram
* True widthsnot known at this time
Toronto, Ontario – TheNewswire - August 9, 2021 - Noble Mineral Exploration Inc. ( “Noble” or the “Company” ) (TSXV:NOB ) ( FRANKFURT:NB7 )( OTC:NLPXF) is pleased to announce that due to favourable results from the initial 2020work program in Dargavel Township, further work has been recommendedto better define gold mineralization that has now been identifiedalong a strike length of 7.5 km. An Induced Polarization survey willbe done to identify areas of increased sulphide concentration withinthe gold horizon. Geophysical work is expected to start immediatelywith the 2,000 meter drill program beginning in September. TheDargavel Property is owned 100% by Noble subject to a 2% Net SmelterRoyalty.
The funding for this program is being provided 50% by Noble and 50% bya private investor. Noble has agreed with the investor that if theoutcome of the program is positive, Noble will enter into good faithnegotiations with the investor to enter into an option and jointventure agreement that would recognize the investor and Noble as eachholding their respective interests in the drilled property, subject tostandard dilution provisions to the extent that either does not fundfuture maintenance and exploration expenditures. All agreementsbetween Noble and the investor are subject to compliance with TSXVenture Exchange policies.
The 2020 drill program detected gold mineralizationover a strike length of 7.5 kilometers, open in both directions. Inaddition, the true width of the zone has not been determined asevidenced by the fact that drill hole DAR-20-06 ended inmineralization after cutting more than 18 meters of core mineralizedwith gold. Very little work has been done in the past in DargavelTownship due to the heavy overburden cover and the fact that the areawas not open for traditional staking due to the predominance ofpatented claims.
Of the six holes drilled in 2020, five intersected goldmineralization. The mineralized zones appear to be associated withmagnetic and electromagnetic (EM) anomalies that have been identifiedover the entire strike length by a regional airborne survey executedby Noble and by historic EM surveys.
In addition to gold values, the drilling also detected1.51 g/t combined platinum and palladium over 1.5 meters associatedwith gold mineralization in Hole DAR-20-05. Past work in thetownship has also detected significant nickel, cobalt and platinumgroup mineralization.
A summary of the significant results can be found inTable 1 and Figure 1.
Table 1: Significant GoldIntersections from the 2020 Drill Program*
* True widthsnot known at this time
Figure 1: Map Showing Previousdrilling with Significant Drill Intersections*
* True widthsnot known at this time
Vance White, President and CEO of Noble, said ”We areexcited to continue the exploration on the Dargavel Township Property. Previous work on the property detected gold mineralization in thefive out of six holes drilled. What was not defined by the lastprogram was the total strike length of the zone and the width of thezone. The present program of geophysics and diamond drilling willhelp to define these unknowns.”
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 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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