NOB:CC - Noble Minerals Initiates Temporarily Delayed Drill Program in proximity to the Location of a 140 kg Mineralized Boulder Found near Hearst Ontario.
(TheNewswire)
Toronto, Ontario – TheNewswire - July 2, 2024 – Noble Mineral ExplorationInc. ( “Noble” or the “Company” ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) ispleased to announce that after a delay due to inclement weather, Nobleis now ready to initiate their drill program. Extreme hot, dryweather in mid June gave way to thunderstorms and in some casestornadoes. Noble was concerned with potential forest fire risk andthe health and welfare of their workers. With the coming of morestable weather in July, the company is now ready to start the drillprogram.
The drill program is planned on 214 claims in WayTownship. The claims extend from about 4 to 15 km southwest of thetown of Hearst, Ontario. The property area is equivalent toapproximately 4,500 hectares or 45 sq km. The drill program followsgeophysical surveys done to identify targets that may be the source ofthe mineralized boulder. The recent geophysical program waspartially funded by the Ontario Junior Exploration Program andapplication has been made to the same program to fund the drillprogram. The Program will fund up to $200,000 on a $400,000exploration program.
The mineralized boulder was on display at the highlysuccessful Canadian MiningExpo in Timmins, Ontario in June.
Historically, a sample of a metalliferous boulder,brought to the Timmins Mining District Regional Resident Geologist in2019 by a Mr. A. Cousineau, was submitted for chemical analysis toGeolabs in Sudbury to establish its metal and mineralogical makeup.Geolabs determined that the boulder contained: 71.8% copper; 3.5% lead, 1.09% zinc; 252g/t of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/tof platinum and consisted primarily of cuprite(van Hees et al., 2020).
In 2021, Noble launched an exploration program to in aneffort to identify the source of the boulder. Basal till samplescollected from two fences of hand auger holes, located about 100 m and1 km north of the boulder, produced 35 gold grains . These gold grainsdefine a southeast-northwest trending dispersion train that indicatethey were transported southeast by a glacial transport from a sourcearea located to the northwest. The dispersion train begins near anortheast trending magnetic anomaly. The gold grains are predominantlyreshaped (24) but also include modified (7) and pristine (4),supporting evidence of a local source.
In 2022 an airborne geophysical survey was flown overthe property followed by a ground geophysical survey inNovember/December 2023. The ground geophysical surveys included 29line-kilometers of Magnetic, VLF-EM and Induced Polarization Survey. The airborne data was successful in outlininga significant northeast trending magnetic high unit that was tracedfrom the southwest section of the survey block to the northeast cornerof the survey block. Compilation of the ground based; detailedmagnetic survey was done to highlight the northwest trending faultstructure that coincides with the location of the boulder. Thisstructure extends at least 1,100 meters and is represented by a modestmagnetic low signature commencing at the southeast corner of the grid. The structure can be traced across the grid, generally lying alongthe northern bank of the river, and has offsetthe modest magnetic high units in the same area. The western edge ofthe suspected fault terminates next to a northeast-southwest strikingcross fault that also affects the strike of the river.
The approximate location of themineralized, Cousineau Boulder appears to coincide with a slightbullseye high at the southeast end of one of the northwest strikingcross dike like features. The dashed line issuggested at being a possible cross fault system . ( See Figure 1) .
The initial drill holes will be focussed in thevicinity of the boulder location in order to better understand thephysical and fault related geology as defined by geophysics done inthe Fall of 2023 (Figure 1). Additional drilling will be focussed onvarious chargeability and conductive anomalies detected during therecent ground surveys.
Figure 1: Location of the boulder and initial drillholes (DDH) with identified faulting on detailed magneticbackground.
Vance White, President and CEO of Noble, said “we arepleased with the progress on this property and to finally get underwaythe proposed drill program, the results of which may give us moreclues as to the possible source of this rich boulder. While the oddsare long, if successful, it could result in a significantfind.”
Figure 2 :Photo of the Cousineau Boulder
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.
Wayne Holmstead P.Geo (ON), a "qualifiedperson" as defined by National Instrument 43-101, has verifiedthe data disclosed in this news release, and has otherwise reviewedand approved the technical information in this news release on behalfof 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., Homeland Nickel Inc., Go Metals Corp. andLode Gold Resources Inc . , and its interest inthe Holdsworth gold exploration property in the area of Wawa, Ontario,will continue to hold ~25,000 hectares of mineral rights in theTimmins-Cochrane areas of Northern Ontario known as Project 81, aswell as an additional 20% interest in ~11,000 hectares in the Timminsarea and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt andbase metal exploration targets at various stages of exploration. Itwill also hold its ~14,600 hectares in the Nagagami CarbonatiteComplex and its ~4,600 hectares in the Boulder Project both nearHearst, Ontario, as well as ~3,700 hectares in the Buckingham GraphiteProperty, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGMproperty, 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: ir@noblemineralexploration.com
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