TSX.V: NOB FWB: NB7
OTCQB: NLPXF
Exploration Update:
Noble Acquires Laverlochere Nickel,
Copper, Cobalt, Gold and Platinum Group Property Near
Rouyn-Noranda, Quebec
Toronto,
Ontario, Canada -- June 29,
2021 -- InvestorsHub NewsWire -- Noble Mineral Exploration
Inc. ("Noble" or
the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that it
has acquired
the Laverlochere property near Rouyn-Noranda, Quebec. The
property consists of 12 claims (518 hectares). The property
is road and power accessible, located about 100 kilometers south of
Rouyn-Noranda.
The Laverlochere
property is located on the southern part, of the east-west trending
Belleterre-Angliers greenstone belt that is made up of an
assemblage of sedimentary and volcanic rocks of Archaen age (See
Figure 1). Several Nickel-Copper-Platinum Group
occurrences
and showings have
been discovered in the Belleterre-Angliers greenstone belt.
Approximately 30 km east of the Laverlochere property, the Lac
Kelly property reportedly contains of 1.4 million tonnes of 0.7%
Copper, 0.7% Nickel, 0.33 g/t Platinum+Palladium
with
a potential for
minor amounts of Cobalt and Rhenium. In the same general
area, Blondeau Nickel has outlined 227,000 tonnes of mineralization grading 0.45% Copper and 0.45%
Nickel. Historic exploration in the area has outlined four separate
zones of Nickel-Copper-Platinum Group mineralization in gabbroic
bodies interbedded in mafic to felsic volcanics (the above
estimates
are historic in
nature not
43-101 compliant).
The Lorraine Mine,
located about 24 km east of the Laverlochere property
operated
from 1964 to 1968 and reported to have
produced 600,000 tonnes grading 0.47%
Nickel, 1.08% Copper, 6.86 g/t Silver and 0.67 g/t Gold from
basaltic and gabbroic rocks. (See Figure 1)
Figure 1: Regional
setting of the Laverlochere Property on a magnetic
background. Areas coloured pink are magnetic highs denoting
mafic to ultramafic rocks. The noted reserves
or resources
are not 43-101
compliant and historic in nature.
On the Laverlochere
property, historic trenching and drilling on the north shore of Lac
Rousselot led to the discovery of a band of iron formation,
striking N60°E (See Figure 2). The iron formation is
brecciated and contains pyrite-rich lenses and veinlets of
quartz. A trench, approximately 1,080 m to the southeast of
the iron formation, exposed a silica bearing that contains
considerable veinlets or dike-like masses of quartz that are well
mineralized with chalcopyrite and pyrite. A 1.8 by 3.0 m
shaft was sunk on a 3 m long by 30 cm wide, mineralized quartz
lens. The lens strikes northwest and cuts across N30°W striking
sheared andesites. The mineralization is primarily chalcopyrite and
a 30 cm sample across the quartz lens analyzed
0.57% copper and 2.6 g/t gold.
In 1969, Inco
drilled three holes under Lac Rousselot (See Figure 2).
Drill hole 32375 was drilled to a depth of 309 m and in the upper
section (0 to 93.9 m) intersected mainly andesitic and gabbroic
rocks that were locally, weakly mineralized in pyrite, pyrrhotite
and chalcopyrite. The lower part of the hole (from 93.9 to 309 m)
intersected serpentinized peridotite that was
systematically analyzed for copper, nickel and cobalt. The analyses
reportedly revealed a 214.7 meter
mineralized interval grading 0.01% Copper, 0.29% Nickel and 0.02%
Cobalt (Exact width not known at this
time).
Drill hole 32376,
intersected mainly intermediate volcanics, gabbroic, and dioritic
rocks down to 97.6 m that were weakly mineralized with pyrite,
chalcopyrite and pyrrhotite (See Figure 2). From 97.6 m to
the bottom of the hole at 108.8 m peridotite was intersected. Eight
samples of core from the gabbro, andesite and a chlorite bearing
schist were analyzed for copper, nickel, zinc, platinum group and
gold. Analyses from the peridotite graded 0.02% Copper
and 0.224% Nickel over the 11.2 meter interval. In
addition,
combined
Platinum-Palladium
was 0.72 g/t and Gold 0.34 g/t (Exact width not known at this
time). These
analytical results are historic and have not been verified by
Noble)
Figure 2:
Compilation of significant mineralization on the Laverlochere
Property.
Future work will
include a complete compilation of past work, geophysical surveys
and a drill program to verify past results.
The consideration
for the acquisition are the costs of staking and 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 "This additional acquisition
continues to add to our broad portfolio of potential project
generator opportunities with past documented exploration success
over a number of years. We will continue to add to our base in this
time of improved commodity prices and junior
resource financial capital market
interest."
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. Additional projects are
being acquired. 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
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