NOB:CC - Noble Completes Acquisition of Nagagami Claims near Hearst Ontario
(TheNewswire)
Toronto, Ontario – TheNewswire - April 6, 2022 – Noble Mineral Exploration Inc. ( “Noble” or the “Company” )(TSXV:NOB ) , ( FRANKFURT:NB7 ) , ( OTC:NLPXF) announced that it has entered into an agreementwith six parties (the " Vendors ") to acquire approximately 695mining claims (the “Claims” ) near Hearst, Ontario, coveringan area of approximately 144 square km (the “Transaction” ).
The Transaction will provide Noble with control over acontiguous area of ~ 14 kmby ~ 12.5 km.
Figure 1: Comparison of the Nagagami Complex to theNiobec Mine in Quebec. Background on both images is residualmagnetic field.
Transaction Terms
Pursuant to the Transaction, Noble will acquire the Claims through theissuance of 500,000 common shares of Noble which will be subject to afour month hold period.
Under the Transaction, the Vendors will retain a 2% NSRwith Noble having the right to buy back 50% of the royalty for$1,000,000. The Transaction is subject to approval of the Company’sBoard of Directors and the TSX Venture Exchange.
Highlights of the Nagagami Property(See Noble Press Release Dated Dec. 16, 2021)
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The exploration model for the Nagagami Carbonatite/Alkalic Complex isbased on a Niobec-style of mineralization (Quebec), where Niobium hasbeen produced since 1976 and there is also a Rare Earth Elementresource. In December 2013 Niobec reported a mineral resourceestimate as:
Table 1: Mineral Resource Estimates for the Niobec Mineset out in an Iamgold NI 43-101 Technical Report, Update on NiobecExpansion, December 2013. Note: Mineral Resource is not a MineralReserve and do not have any demonstrated economic viability.
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The Nagagami Project falls within the OntarioGovernment Critical Minerals Directive issued this year, whichprioritizes finding local sources of strategic materials.
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Around the world, governments are implementing policiesthat are accelerating innovative technology that rely heavily oncritical and strategic minerals as raw materials for electricvehicles, clean energy and information communicationstechnology
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The Nagagami Complex has had minimal explorationincluding a limited amount of drilling by Algoma in the 1960’s insearch of iron deposits.
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Noble has initiated talks with the council of theConstance Lake Fist Nation on how best to proceed with thisproject.
Significance of Niobium and RareEarth Elements
According to a European Commission Report (2020), R are E arth elements (LREEs: Light Rare Earth Elements; HREEs: HeavyRare Earth Elements) have the greatest supply risk of raw materialsfor key technologies . N iobium rank s #4 . NobleMinerals is exploring for these commodities in a safe and mining-friendly jurisdiction.
Figure 2: Supply Risk Associated with MinedMinerals
Niobium
Niobium is an extraordinary and highly versatilesuper - alloymaterial and is a criticaland strategic material essential to many defense and civilianapplications . For example, as an alloying element in high-strength and stainless steel,as a super - alloy foraerospace and land-based power generation, and insuperconductors.
For instance, 200 grams of niobium added to the steelof a mid-sized automobile reduces its weight by 100 kg, increasingfuel efficiency by 5% ( World Steel Institute ) . The use of niobium in vehicles today is already helpingto avoid the emission of an estimated 62 million ton s of CO2 per year, according to Niobec(North-America‘s only niobium producer).
North America sources all of its niobium from Brazil(~83%), Canada (~12%) and others (~5%). With only 3 primary niobiummines globally , all ofwhich have Chinese stakeholders, a more reliable, long-term niobium supply in North America isneeded to secure critical minerals supply chains for strategicindustries.
Figure 3: Niobium Applications
Rare Earths Elements
According to the European Commission (2020), R are E arth Elements (LREE & HREE) are highlighted ashaving the greatest supply risk of raw materials for key technologies. 97% of the world ’ sRare Earth Elements are controlled by China.
There are approximately 20 to 25 pounds of Rare Earthsin each Electronic Vehicle produced.
Rare Earth Elements are essentialfor transitioning to G reen e nergy . Their importance is not limited to applicationsin cars, but also in solar panels, windmills,solar photovoltaic, computers, electronics, the smart grid andmore. This highlights the need for a secure,domestic supply.
Figure 4: Amount of Rare Earths Required in theManufacture of an Electric Vehicle
Vance White, President and CEO of Noble, said “we arepleased to do our part in the exploration of a domestic source ofNiobium and Rare Earth Elements. We have started negotiations withthe council of the Constance Lake First Nation to explore ways thatthey can participate in this important project.”
Michael Newbury PEng (ON), a “qualified person” assuch term is defined by National Instrument 43-101, has reviewed thedata disclosed in this news release, and has otherwise reviewed andapproved the technical information in this news release on behalf ofNoble.
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, will continue tohold approximately 40,000 hectares of mineral rights in theTimmins-Cochrane areas of Northern Ontario known as Project 81, aswell as an additional ~11,000 hectares in the Timmins area and ~14,000hectares of mining claims in Central Newfoundland. Project 81 hostsdiversified drill-ready gold, nickel-cobalt and base metal explorationtargets at various stages of exploration. It also holds its recentlyacquired the ~14,000 hectare Nagagami Carbonatite Complex near Hearst,Ontario, as well as the Buckingham Graphite Property, the LaverlochereNickel, Copper, PGNM property and the Cere-Villebon Nickel, Copper,PGM property, all of which are in the province of Quebec. Moredetailed information is available on 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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