Noble Signs Exploration Agreement with the Constance Lake First Nation
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Toronto, Ontario – TheNewswire - August 22, 2022 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB,) (FRANKFURT:NB7), (OTC:NLPXF) Noble is pleased to announce that it has entered into a Exploration Agreement (“Agreement”) with the Constance Lake First Nation (“CLFN)”) in relation to exploration and potential development at both the Company’s Nagagami and Boulder Projects near Hearst, Ontario.
The Agreement establishes a commitment by Noble to provide accommodation, to engage in ongoing consultation and establish a mutually beneficial cooperative and productive relationship with the CLFN located in the Projects area. The agreement also provides the First Nation with an opportunity to participate in the benefits of the Projects through priority access to business opportunities, employment and training, and through financial compensation.
Vance White, President and CEO of Noble, said: "we are fully committed to the responsible exploration and potential development of what we believe to be two very exciting opportunities in heretofore underexplored mineral lands. Our approach is to work with First Nations in order to create shared value through economic opportunities, while also being respectful and responsible stewards of the natural environment. Noble acknowledges Constance Lake First Nation in its commitment to protect and enhance the land and resource based economy within its Traditional Territory. We welcome the First Nation in a constructive and collaborative approach to the exploration and potential development of the Projects.”
Chief Ramona Sutherland of the Constance Lake First Nation says, “Constance Lake First Nation ensures that any development in our Territory is done right, only with respect for the lands and our people and only with our free, prior and informed consent. We are pleased that Noble has agreed to proceed in this respectful way.”
The Projects
Nagagami Carbonatite Niobium and Rare Earths Project, Ontario (~14,000 ha)
An Early Exploration Permit has been received from the Province and helicopter supported drilling is expected to begin in September.
Past work in the Nagagami area has been spotty in the past. Part of this is due to the fact that the complex is not exposed on surface. Algoma Ore Properties performed the original airborne magnetic survey in the area that identified the complex. Limited drilling was aimed at the magnetic ring structure in search of iron deposits. Despite drilling in the wrong geology for niobium and rare earth metals, one of the Algoma drillholes returned 0.3% Nb205 from a grab 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 the rock. The existence of fluorite is characteristic of carbonatite style mineralization.
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Figure 1: Comparison of the Nagagami Complex (left) with the Niobec Mine in Quebec
The Boulder Project (~4,500 ha)
In 2019 Ontario Geological Survey analyzed a sample from 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 of gold; 4.43 g/T of palladium; and 2.22 g/T of platinum and consisted primarily of the mineral cuprite
During the Fall of 2021 Noble launched an exploration program on the property to in an effort to identify the source of the boulder. Basal till samples collected from two fence lines of hand auger holes, located about 100 m and 1 km north of the boulder location, produced 35 gold grains. These gold grains defined a southeast-northwest trending dispersion train that indicates they were transported southeast by a glacial transport from a source area located to the northwest. The dispersion train appears to begin near a northeast trending magnetic anomaly to the northwest of the property. The gold grains are predominantly reshaped (24) but also include modified (7) and pristine (4), supporting evidence of local source. The cost of the staking, sampling and assaying to date has been.
Work will continue during the 2022 field season including a helicopter airborne survey, expected to be completed in September.
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Figure 2: The Cousineau Boulder cut in half.
Historical exploration results disclosed in this news release are non-compliant with the requirements of National Instrument 43-101.
Michael Newbury PEng (ON), a “qualified person” as such term is defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold mineral rights to ~36,400 hectares, in the Timmins-Cochrane area of Northern Ontario, included in which Noble has acquired a 50% interest in 7 patents and 310 tenure identified mining claims totalling ~6,600ha in Carnegie, Kidd, Wark and Prosser Townships and an option on 4,800ha in Calder Twp. known as Project 81, as well as an additional ~11,000 hectares in the Timmins area Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages 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 the Buckingham Graphite Property, ~518 hectares in the Laverlochere Nickel, Copper, PGNM property and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at www.noblemineralexploration.com.
Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB”.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954