NOB:CC - Noble Minerals Acquires a Copper-Precious Metal Prospect near Hearst Ontario
(TheNewswire)
140 kgBoulder Discovered Containing 71.8% Copper, 252 g/t Silver, 3.79 g/tGold and 6.65 g/t Platinum Group Metals
Toronto, Ontario - TheNewswire - April 25, 2022 - Noble Mineral ExplorationInc. ( “Noble” or the “Company” ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce that the company hasOptioned a 100% interest in 204 claim units by staking to hold in 214claims in Way Township. The claims extend from about 4 to 15 kmsouthwest of the town of Hearst, Ontario. The staked area isequivalent to approximately 4,500 hectares or 45 km 2 .
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Noble has acquired by staking 214claims (4,500 hectares or 45 sq. km) on the prospective mineralarea;
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The exploration model is theoccurrence of a supergene alteration zone of a Volcanogenic MassiveSulphide deposit;
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A 140 kg boulder found in the areanear Jogues about 11 km SW of Hearst Ont. contains significantconcentrations of base and precious metals;
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On analysis the sample was found tocontain 71.8% copper, 252 g/t silver, 3.79 g/t gold and 6.65 g/tplatinum group metals;
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There has not been any recentexploration since the 1960’s when Algoma explored for ironore.
A sample of the metalliferous boulder, brought to theTimmins Mining District Regional Resident Geologist in 2019 by a Mr.A. Cousineau, was submitted for chemical analysis to Geolabs inSudbury to establish its metal and mineralogical makeup. Geolabsdetermined that the boulder contained: 71.8% copper; 3.5% lead, 1.09%zinc; 252 g/T of silver, 3.79 g/T of gold; 4.43 g/T of palladium; and2.22 g/T of platinum and consisted primarily of cuprite (van Hees etal., 2020).
The type of copper mineralization found in the boulderis unusual for copper mineralization found in the Superior Province ofthe Canadian Shield. The primary mineral is cuprite, a soft, heavy,red oxide mineral (Cu 2 O)that is an important ore of copper worldwide.
In 2021, Noble launched an exploration program on theproperty to in an effort to identify the source of the boulder. Basal till samples collected from two fence lines of hand augerholes, located about 100 m and 1 km north of the boulder location,produced 35 gold grains. These gold grains defined asoutheast-northwest trending dispersion train that indicates they weretransported southeast by a glacial transport from a source arealocated to the northwest. The dispersion train appears to begin near anortheast trending magnetic anomaly to the northwest of the property.The gold grains are predominantly reshaped (24) but also includemodified (7) and pristine (4), supporting evidence of local source.
Work will continue during the 2022 field seasonincluding an airborne survey, glacial till investigations and eventualdiamond drilling.
Vance White, President and CEO of Noble, said “thisis a very significant discovery of a highly mineralized boulder in anarea that has not seen much past exploration. The discovery of thesource of the boulder would be an important mineral find. Even asmall deposit of this material would be extremely valuable at currentmetal prices. Noble will continue its exploration program to establishthe source of the boulder”
Figure 1: Photo of the Cousineau Boulder
Figure 2: Photo of Cousineau Boulder cut in half
References:
van Hees, E.H., P. Bousquet, J. Suma-Momoh, C.M.Daniels, S.L.K. Hinz, C. Boucher, P. Sword, L. Wang, S.P. Fudge, A.Millette and C. Patterson, 2020. Report of Activities 2019, ResidentGeologist Program, Timmins Regional Resident Geologist Report: Timminsand Sault Ste. Marie Districts; Ontario Geological Survey, Open FileReport 6366, 160p.
Deal Terms
On signing - 325,000 shs + 325,000 3-year wts exercisable at$0.175
1 st Anniversary - 325,000 shs + 325,000 3-year wts exercisable at$0.175
Expln Spend to earn 50% - $300,000 (includingstaking costs and ground exploration in the fall 2021)
Expln Spend to earn 100% - $700,000 (earning 10% per$140,000 in expenditures to include airborne and follow up)
2% NSR with buyback as to 50% at $1,000,000 for firstfive years and at $1,500,000 to end of life.
If the property is dropped, then it is to be returnedto vendors with a minimum one year’s assessment credits.
The Transaction is subject to the approval of the Boardof Directors, as well as to TSX Venture Exchange approval and tocompliance with securities and other laws and regulations.
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 ~25,000 hectares of mineral rights in the Timmins-Cochrane areasof Northern Ontario known as Project 81, as well as an additional~11,000 hectares in the Timmins area and ~14,400 hectares of miningclaims in Central Newfoundland. Project 81 hosts diversifieddrill-ready gold, nickel-cobalt and base metal exploration targets atvarious stages of exploration. It will also hold its recentlyacquired ~14,600 hectares in the Nagagami Carbonatite Complex nearHearst, Ontario, as well as ~3,700 hectares in the Buckingham GraphiteProperty, ~518 hectares in the Laverlochere Nickel, Copper, PGNMproperty and ~482 hectares in the Cere-Villebon Nickel, Copper, PGMproperty, all of which are in the province of Quebec. More detailedinformation 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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