NOB:CC - Noble Minerals Acquires a Rare Earth Project and Delays Drilling on the Kidd2/Carnegie Project Near Timmins Ontario
(TheNewswire)
Toronto, Ontario – July 17, 2023– Noble Mineral Exploration Inc. ( “Noble” orthe “Company” ) (TSXV:NOB ) , ( FRANKFURT:NB7 ) , ( OTC:NLPXF) is pleased to report the acquisition of a new RareEarth property near Timmins Ontario.
In addition, drilling of the Kidd2/Carnegie project hasbeen delayed until December. The delay is due to an unusually wetspring and summer season making access to the drill sites verydifficult. Helicopter support was considered however management hasdetermined that the additional expense was excessive and would muchrather see the money spent on the ground. The drill contractor hasinformed Noble that they would commit 2 drills to the program in orderto complete the program in an expeditious manner allowing the companyto meet its timeline for the OJEP grant. The company's partner isonside with this decision. (For details on the project see Noble PressRelease dated July 18, 2023)
Also, Noble has been advised by Canada Nickel Corp.that they have completed 16 holes on the northwest and central targetsin Mann Township with results to be forthcoming in the next few weeks.(For details on the project see Noble Press Release dated July 31,2023)
Thomas Carbonatite – Rare EarthProject
Research by the staff of Noble has identified amagnetic feature in Thomas Township that resembles a classiccarbonatite magnetic signature. Carbonatites are a special group ofcarbonate-rich igneous rocks and the world’s primary source of rare earth elements(REE) , niobium, zirconium, and phosphate oxide . In most cases, carbonatites are intrusive orsubvolcanic, forming cone sheets, volcanic necks, dykes, sills ,breccias, and veins. Because carbonate minerals weather so easilyoutcropping of carbonatitic rock is rare and the Thomas Carbonatite isno exception.
The magnetic signature of a carbonatite usuallyresembles a donut shaped body with a magnetic high surrounding anextreme magnetic low (see Fig 1). The magnetic low is caused by thecarbonate rich section of the intrusion and may be the carrier of rare earth elements(REE) , niobium, zirconium, and phosphate oxide .
The magnetic structure has never been drilled and doesnot outcrop on surface.
The work program will include geophysical surveys tolocate with precision the exact position of the magnetic low and thedepth of the overburden in order to prepare for drilling. Phase 2 willconsist of drilling into the magnetic low to confirm the existence ofa carbonatite and test for economic mineralization.
Figure 1: Three-dimensional magneticimage of the Thomas structure with the Property boundary.
Vance White, President and CEO of Noble, said “We arepleased to acquire this exciting new project in light of thegeopolitical interest in finding new sources Rare Earth Elements”
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 Company Inc., Spruce Ridge Resources Ltd., Go MetalsCorp. and MacDonald Mines Exploration Ltd., and its interest in theHoldsworth gold exploration property in the area of Wawa, Ontario,will continue to hold ~20,000 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 ~14,400hectares of mining claims in Central Newfoundland. Project 81 hostsdiversified drill-ready gold, nickel-cobalt and base metal explorationtargets at various stages of exploration. It will also hold its~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600hectares in the Boulder Project both near Hearst, Ontario, as well asits ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property,its ~3,700 hectares in the Buckingham Graphite Property, its ~10,152hectares in the Havre St Pierre Nickel, Copper, PGM property, its~518 hectares in the Laverlochere Nickel, Copper, PGM property, all ofwhich are in the Province of Quebec. More detailed information isavailable on the website at: https://www.noblemineralexploration.com
Noble’s common shares trade onthe TSX Venture Exchange 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 anduncertainties, and actual results may differ materially from theCompany’s plans and expectations. These plans, expectations, risksand uncertainties are detailed herein and from time to time in thefilings made by the Company with the TSX Venture Exchange andsecurities regulators. Noble Mineral Exploration Inc. does not assumeany obligation to update or revise its forward-looking statements,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: ir@noblemineralexploration.com
Copyright (c) 2023 TheNewswire - All rights reserved.