Exploration Update: Noble Acquires Cere Villebon Copper, Nickel, Cobalt, Platinum Group Property Near Val d'Or Quebec
(TheNewswire)
Toronto, Ontario – TheNewswire - June 24, 2021 - Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) is pleased to announce that it has acquired the Cere Villebon property near Val d’Or, Quebec. The property consists of 15 claims (483 hectares). The property is road and power accessible, located only 4 kilometers east of Highway 117, the highway that connects Montreal to Val d’Or.
The Cere Villebon property consists of pyrrhotite and chalcopyrite mineralization in fracture fillings hosted by ultramafic rocks in the metamorphic halo of the Freville Batholith. The copper, nickel, platinum group mineralization is located in two zones, the North and the South Zone (See Figures 1 and 2).
Drilling and resource estimates done by the Groupe La Fosse Platinum Inc., in 1987, evaluated a historical resource of 421,840 tonnes grading 0.52% copper, 0.72 % nickel and 1.08 g/t combined platinum-palladium (Groupe La Fosse Platinum Inc., 1987 Annual Report). This estimate is historical in nature, non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and therefore should not be relied upon. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources, and these estimates should only be considered as an indication of the mineral potential of the Property.
Diamond Drill Hole FV-87-1 drilled by LaFosse Platinum in 1987 into the North Zone intersected 27.38* meters of 0.70% nickel, 0.68% copper, 0.23 g/t platinum, 0.64 g/t palladium and 0.08 g/t gold including 7.65* meters of 0.94% nickel, 1.02% copper (See Figure 1).
* Exact width not known at this time.
Future work will include a complete compilation of past drilling and a drill program to verify past results and extend the two zones along strike and at depth.
Click Image To View Full Size
Figure 1: North Mineralized Zone with historic drilling and geology.
Click Image To View Full Size
Figure 2: South Mineralized Zone with historic drilling and geology.
The consideration for the acquisition are the costs of staking reserving to the vendor a 2% NSR that will be subject to Noble’s right to buyback 50% of the NSR for $1,000,000.
The Transactions are subject to approval of the Board of Directors of each party where applicable, as well as to TSX Venture Exchange approval and to compliance with securities and other laws and regulations.
Vance White, President and CEO of Noble, said “We are extremely pleased to be able to acquire this potentially valuable asset. Based on historic (non-compliant NI 43-101 resource estimates as stated above and at current commodity prices the in-situ value would have a gross value that could be considered economic. . . All historic drill holes were drilled to a vertical depth of ~100m leaving the deposit open at depth.”
Michael Newbury PEng (ON), a "qualified person" as such term is defined by National Instrument 43-101, has verified 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 Wawa, Ontario area, holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration/VMS targets at various stages of exploration. 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”.
Cautionary Statement:
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
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2021 TheNewswire - All rights reserved.