NOB:CC - Noble Minerals Plans to Drill in proximity to the Location of a 140 kg Mineralized Boulder Found near Hearst Ontario
(TheNewswire)
Toronto, Ontario – TheNewswire - May 28, 2024 – Noble Mineral ExplorationInc. ( “Noble” or the “Company” ) (TSXV:NOB ) , ( FRANKFURT:NB7 ) , ( OTCQB:NLPXF) is pleasedto announce that the company has plans to execute a drill program on214 claims in Way Township commencing in mid-Jine. The claims extendfrom about 4 to 15 km southwest of the town of Hearst, Ontario. Theproperty area is equivalent to approximately 4,500 hectares or 45 sqkm. The drill program follows geophysical surveys done to identifytargets that may be the source of the mineralized boulder. The recentgeophysical program was partially funded by the Ontario JuniorExploration Program and application has been made to the same programto fund the drill program. The Program will fund up to $200,000 on a$400,000 exploration program.
The mineralized boulder will be on display at the Canadian Mining Expo inTimmins, Ontario on June 5th and 6th and arepresentative of Noble Mineral Exploration will be there to answeryour questions. (https://virtex.canadianminingexpo.com/)
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 outlining asignificant northeast trending magnetic high unit that was traced fromthe southwest section of the survey block to the northeast corner ofthe survey block. Compilation of the ground based; detailed magneticsurvey was done to highlight the northwest trending fault structurethat coincides with the location of the boulder. This structureextends at least 1,100 meters and is represented by a modest magneticlow signature commencing at the southeast corner of the grid. Thestructure can be traced across the grid, generally lying along thenorthern bank of the river, and has offset the modest magnetic highunits in the same area. The western edge of the suspected faultterminates next to a northeast-southwest striking cross fault thatalso affects the strike of the river.
The contour plan map of the first vertical derivativeof the total field magnetic definitely enhances the northeast strikingmagnetic high feature as well as the numerous northwest-southeastnarrow crosscutting high features. The approximate location of themineralized, Cousineau Boulderappears to coincide with a slight bullseye high at the southeast endof one of the northwest striking cross dike like features. The white line is suggested at being a possiblecross fault system . ( SeeFigure 1 and 2 below) .
Figure 1: First Vertical Derivative of the airbornegeophysical survey showing
location of the Cousineau Boulder and a possible cross fault structure(white line)
Figure 2: Location of the boulder with cross fault ondetailed magnetic background.
The drill program will initially focus on thecross-fault structure in the vicinity of the boulder.
Vance White, President and CEO of Noble, said “we arepleased with the progress on this property and look forward to theresults of the drill program that may give us more clues as to thepossible source of this rich boulder. While the odds are long, ifsuccessful it could result in a significant find.”
Figure 3: 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., 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 ~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 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
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