Noble Metal Group Incorporated-NHA News Release
September 12 2008 - 7:18PM
Marketwired
Noble Metal Group Incorporated (TSX VENTURE: NMG) -
The Company is pleased to announce the completion by its
subsidiary Noble Hydrocarbons Alta Ltd. ("NHA") of 9 drill holes on
NHA's permitted oil shale exploration land near Hudson Bay,
Saskatchewan. The company sought and received approval from
Saskatchewan Industry and Resources to drill up to 18 holes. Of
these, some of the drill hole locations are on Crown owned land and
are subject to other Saskatchewan Ministries approvals which may
impose conditions on when the drilling on the Crown lands can take
place. These other approvals and any conditions have yet to be
provided. The holes completed at this time are those sited on
privately owned land.
It has been reported by Ivan Young P. Geo., the geologist to the
company that based on detailed logging of the cores, all holes
intersected till and cretaceous sediments containing intervals of
oil shale horizons. Coal fragments and narrow coal beds were
encountered in six of the nine holes drilled. The coal fragments
and thin beds ranged mostly from 1 - 2 mm to 1 - 4 cm in size often
interbedded with mudstone and siltstone. One hole (NHA-9)
encountered a coal seam 20 cm (8 inches) thick. The extent of the
oil shale and coal fragment/narrow coal bed intersections are
summarized in the table below:
--------------------------------------------------------------------------
Depth Coal
Fragments/
beds Thickness
Depth Oil encountered Coal
Shale start Oil shale start and Fragments Depth End
Hole and end Intersection end Intersection of Hole
No. (in meters) (in meters) (in meters) (in meters) (in meters)
--------------------------------------------------------------------------
NHA-1 21.9 m 24.4 m 90.5 m
(71.9 ft)- (80.0 ft) (296.9 ft)
46.3 m
(151.9 ft);
--------------------------------------------------------------------------
NHA-6 18.3 m 41.4 m 97.2 m
(60.0 ft)- (135.9 ft) (318.9 ft)
59.7 m
(195.9 ft)
--------------------------------------------------------------------------
NHA-7 15.8 m 62.5 m 159.1 m 13.7 m 172.8 m
(51.8 ft)- (205.1 ft) (522.0 ft)- (45.0 ft) (567.0 ft)
78.3 m 172.8 m
(256.9 ft) (567.0 ft)
--------------------------------------------------------------------------
NHA-8 24.4 m 35.0 m 94.5 m
(80.1 ft)- (114.8 ft) (310.1 ft)
59.4 m
(194.9 ft)
--------------------------------------------------------------------------
NHA-9 9.1 m 20.5 m 141.3 m 20.0 m 212.4 m
(29.9 ft)- (67.2 ft) (463.6)- (65.6 ft); (696.9 ft)
29.6 m 161.3 m 15.4 m
(97.1 ft) (529.2 ft); (50.5 ft)
193.9 m
(636.2 ft)-
209.3 m
(686.7 ft)
--------------------------------------------------------------------------
NHA-10 32.6 m 30.5 m 159.7 m 75.6 m 235.3 m
(107.0 ft)- (100.0 ft) (524.0 ft)- (248.0 ft) (772.0 ft)
63.1 m 235.3 m
(207.0 ft) (772.0 ft)
--------------------------------------------------------------------------
NHA-11 12.2 m 53.3 m 145.4 m 5.2 m 175.9 m
(40.0 ft)- (174.9 ft) (477.1 ft)- (17.0 ft) (577.1 ft)
65.5 m 150.6 m
(214.9 ft) (494.0 ft)
--------------------------------------------------------------------------
NHA-12 30.2 m 30.5 m 176.5 m 15.2 m 219.2 m
(99.1 ft)- (100.1 ft) (579.1 ft)- (47.9 ft); (719.2 ft)
60.7 m 191.7 m 1.5 m
(199.2 ft) (627.0 ft); (4.9 ft);
196.3 m 4.6 m
(644.1 ft)- (15.1 ft)
197.8 m
(649.0 ft);
204.8 m
(671.9 ft)-
209.4 m
(687.0 ft)
--------------------------------------------------------------------------
NHA-13 21.0 m 68.6 m 117.1 m 1.5 m 249.6 m
(68.9 ft)- (216.2 ft) (384.1 ft)- (5.0 ft); (818.9 ft)
89.6 m 118.6 m 77.4 m
(285.1 ft) (389.1 ft); (254.0 ft)
163.1 m
(535.1 ft)-
240.5 m
(789.0 ft);
--------------------------------------------------------------------------
The initial 9 holes drilled illustrate that the oil shale
formation is relatively shallow from the surface and extends at
least 18 kms (11 miles) in a north-south direction and 9.8 kms (6.0
miles) in an east-west direction with an average oil shale
thickness of 40.7 m (133.7 feet). Coal fragment beds and layers are
encountered at deeper depths from the oil shales. It appears likely
that the three holes for which no coal fragments were encountered
may have been as a result of the earlier termination of those
holes. Samples of the drill cores have been prepared for delivery
to Baseline Laboratories in Texas. All remaining cores have been
delivered to the core storage facility of the Subsurface Geological
lab located in Regina, Saskatchewan.
Based on the findings to date the Company will be seeking
further approvals for drilling holes on Crown land in the northern
and easternmost sector of NHA's oil shale exploration permit
(SHP00002) in the Hudson Bay area.
ON BEHALF OF THE BOARD OF DIRECTORS
NOBLE METAL GROUP INCORPORATED
JJ McIntyre, President
Anyone wishing to be added to the email recipients list for our
News Release may forward an email request to
nobleinc@telus.net.
Except for statements of historical fact relating to the
Company, this news release contains certain "forward-looking
information" within the meaning of applicable securities law.
"Forward-looking information" is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", and other similar words, or statements
that certain events "may", "will", or "could" occur. There are
uncertainties inherent in forward-looking information including
factors beyond the company's control, and no assurance can be given
that the programs will be completed on time, on budget or at all.
The reader is cautioned not to place undue reliance on
forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this news release.
Contacts: Noble Metal Group Incorporated John J. McIntyre
President (604) 683-9338 (604) 683-9293 (FAX)
Noble Metal Group Incorporated (TSXV:NMG)
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