NOB:CC - Noble Signs Exploration Agreement with the Constance Lake First Nation
(TheNewswire)
Toronto, Ontario – TheNewswire - August 22, 2022 – Noble MineralExploration Inc. ( “Noble” orthe “Company” ) (TSXV:NOB, ) ( FRANKFURT:NB7 ) , ( OTC:NLPXF) Nobleis pleased to announce that it has entered into a ExplorationAgreement (“Agreement”) with the Constance Lake First Nation(“CLFN)”) in relation to exploration and potential development atboth the Company’s Nagagami and Boulder Projects near Hearst,Ontario.
The Agreement establishes a commitment by Noble to provideaccommodation, to engage in ongoing consultation and establish amutually beneficial cooperative and productive relationship with theCLFN located in the Projects area. The agreement also provides theFirst Nation with an opportunity to participate in the benefits of theProjects through priority access to business opportunities, employmentand training, and through financial compensation.
Vance White, President and CEO of Noble, said: "we are fullycommitted to the responsible exploration and potential development ofwhat we believe to be two very exciting opportunities in heretoforeunderexplored mineral lands. Our approach is to work with FirstNations in order to create shared value through economicopportunities, while also being respectful and responsible stewards ofthe natural environment. Noble acknowledges Constance Lake FirstNation in its commitment to protect and enhance the land and resourcebased economy within its Traditional Territory. We welcome the FirstNation in a constructive and collaborative approach to the explorationand potential development of the Projects.”
Chief Ramona Sutherland of the Constance Lake First Nation says,“Constance Lake First Nation ensures that any development in ourTerritory is done right, only with respect for the lands and ourpeople and only with our free, prior and informed consent. We arepleased that Noble has agreed to proceed in this respectful way.”
The Projects
Nagagami Carbonatite Niobium and RareEarths Project, Ontario (~14,000 ha)
An Early Exploration Permit has been received from theProvince and helicopter supported drilling is expected to begin inSeptember.
Past work in the Nagagamiarea has beenspotty in the past. Part of this isdue to the fact that thecomplex is not exposed on surface. Algoma OreProperties performed the original airborne magnetic survey in the areathat identified the complex. Limited drillingwas aimed at the magneticring structure in search of iron deposits. Despite drilling in the wrong geology for niobium and rareearth metals, one of the Algoma drillholes returned 0.3% Nb205 from agrab sample of syenite taken at 230 feet downhole. Fluorite was noted in one drill hole as red-brown, waxy hydronephelite(an alteration form of nepheline) comprising 5-10% of therock. The existence of fluorite ischaracteristic of carbonatite style mineralization.
Figure 1: Comparison of the NagagamiComplex (left) with the Niobec Mine in Quebec
The Boulder Project (~4,500ha)
In 2019 Ontario Geological Survey analyzed a samplefrom the 140kg boulder and determined that the boulder contained:71.8% copper; 3.5% lead, 1.09% zinc; 252 g/T of silver, 3.79 g/T ofgold; 4.43 g/T of palladium; and 2.22 g/T of platinum and consistedprimarily of the mineral cuprite
During the Fall of 2021 Noble launched an exploration program on the property to in an effort toidentify the source of the boulder. Basal till samples collectedfrom two fence lines of hand auger holes, located about 100 m and 1 kmnorth of the boulder location, produced 35 gold grains. These goldgrains defined a southeast-northwest trending dispersion train thatindicates they were transported southeast by a glacial transport froma source area located to the northwest. The dispersion train appearsto begin near a northeast trending magnetic anomaly to the northwestof the property. The gold grains are predominantly reshaped (24) butalso include modified (7) and pristine (4), supporting evidence oflocal source. The cost of the staking, sampling and assaying to datehas been.
Work will continue during the 2022 field seasonincluding a helicopter airborne survey, expected to be completed inSeptember.
Figure 2: The Cousineau Boulder cutin half.
Historical exploration results disclosed in this newsrelease are non-compliant with the requirements of National Instrument 43-101.
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 mineral rights to ~ 36,400 hectares, in theTimmins-Cochrane area of Northern Ontario, included in which Noble hasacquired a 50% interest in 7 patents and 310 tenure identified miningclaims totalling ~6,600ha in Carnegie, Kidd, Wark and ProsserTownships and an option on 4,800ha in Calder Twp. known as Project 81, as well as an additional ~11,000hectares in the Timmins area Project 81 hosts diversified drill-readygold, nickel-cobalt and base metal exploration targets at variousstages of exploration. It will also hold its recently acquired~14,600 hectares in the Nagagami Carbonatite Complex near Hearst,Ontario and ~14,400 hectares of mining claims in Central Newfoundland.In addition, it holds mineral rights to ~3,700 hectares in theBuckingham Graphite Property, ~518 hectares in the LaverlochereNickel, Copper, PGNM property and ~482 hectares in the Cere-VillebonNickel, Copper, PGM property, all of which are in the province ofQuebec. More detailed 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: ir@noblemineralexploration.com
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