Noble acquires the Laverlochère group’s property of nickel, copper, cobalt, gold and platinum near Rouyn-Noranda, Quebec
(The press wire)
Toronto, Ontario TheNewswire – 2 June 9, 2021 – Noble Mineral Exploration Inc. (âNobleâ or the âCompanyâ) (TSXV: NOB) (FRANKFURT: NB7) (OTC: NLPXF) is pleased to announce that it has acquired the LaverlochÃ¨re property near Rouyn-Noranda, Quebec. The property consists of 12 claims (518 hectares). The property is accessible by road and electricity, located approximately 100 kilometers south of Rouyn-Noranda.
The LaverlochÃ¨re property is located in the southern part of the east-west trending Belleterre-Angliers greenstone belt which is made up of an assemblage of sedimentary and volcanic rocks of Archaen age (See Figure 1). Several occurrences and showings of the Nickel-Copper-Platinum group have been discovered in the Belleterre-Angliers greenstone belt. About 30 km east of the LaverlochÃ¨re property, the Lac Kelly property would contain 1.4 million tonnes of 0.7% copper, 0.7% nickel, 0.33 g / t of platinum + palladium with potential for minor amounts of cobalt and rhenium. In the same general sector, Blondeau Nickel has delineated 227,000 tonnes of mineralization grading 0.45% copper and 0.45% nickel. Historical exploration in the area has delineated four distinct zones of nickel-copper-platinum group mineralization in gabbroic bodies interbedded in mafic to felsic volcanic rocks (the above estimates are historical in nature and not in accordance with guideline 43 -101).
The Lorraine mine, located about 24 km east of the LaverlochÃ¨re property was operated from 1964 to 1968 and would 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 LaverlochÃ¨re Property on a magnetic background. Areas colored pink are magnetic peaks indicating mafic to ultramafic rocks. Reserves or indicated resources are not in accordance with Directive 43-101 and are historical in nature.
On the LaverlochÃ¨re property, historic trenches and drilling on the north shore of Lake Rousselot led to the discovery of a band of iron formation, oriented N60 Â° E (see figure 2). The iron formation is brecciated and contains lenses rich in pyrite and quartz veinlets. A trench approximately 1,080 m southeast of the iron formation exposed a silica deposit that contains considerable veinlets or dyke-shaped masses of quartz well mineralized in chalcopyrite and pyrite. A 1.8 by 3.0 m the well was dug on a mineralized quartz lens 3 m long by 30 cm wide. The lens moves northwest and cuts through N30 Â° W sheared andesites. The mineralization is mainly chalcopyrite and a sample of 30 cm through the quartz lens analyzed 0.57% copper and 2.6 g / t gold .
In 1969, Inco drilled three holes under Rousselot Lake (see Figure 2). Hole 32375 was drilled to a depth of 309 m and in the upper part (0 to 93.9 m) intersected mainly andesitic and gabbroic rocks which were locally weakly mineralized in pyrite, pyrrhotite and chalcopyrite. The lower part of the hole (93.9 to 309 m) intersected a serpentinized peridotite which was systematically analyzed for copper, nickel and cobalt. The analyzes would have revealed a Mineralized interval of 214.7 meters grading 0.01% copper, 0.29% nickel and 0.02% cobalt (Exact width unknown at this time).
Hole 32376 mainly intersected intermediate volcanic, gabbroic and dioritic rocks up to 97.6 m weakly mineralized in pyrite, chalcopyrite and pyrrhotite (see Figure 2). From 97.6 m to the bottom of the hole to 108.8 m of peridotite was cut. Eight core samples from gabbro, andesite and a shale containing chlorite were analyzed for copper, nickel, zinc, platinum group and gold. Analyzes of classified peridotitis 0.02% copper and 0.224% nickel on the 11.2 meter interval. In addition, combined Platinum-palladium was 0.72 g / t and gold 0.34 g / t (The exact width is not known at the moment). These analytical results are historical and have not been verified by Noble)
Figure 2: Compilation of significant mineralization on the LaverlochÃ¨re property.
Future work will include a full compilation of past work, geophysical surveys and a drilling program to verify past results.
The consideration for the acquisition consists of the staking fees and the reservation to the seller of a 2% NSR which will be subject to Noble’s right to repurchase 50% of the NSR for $ 1,000,000.
Transactions are subject to the approval of the board of directors of each party, if any, as well as the approval of the TSX Venture Exchange and compliance with securities and other laws and regulations.
Vance White, President and CEO of Noble, said, âThis additional acquisition continues to add to our broad portfolio of potential project generator opportunities with documented exploration successes over several years. We will continue to enrich our base in this period of improving commodity prices and interest in the financial capital market for junior resources. ”
Michael Newbury PEng (ON), a “qualified person” as such term is defined by National Instrument 43-101, has verified the data disclosed in this press release and has otherwise reviewed and approved the technical information contained herein. press 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 interests 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 area, Ontario, holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of northern Ontario. , known as Project 81. Project 81 contains diversified gold, nickel-cobalt and base metals / VMS exploration targets ready for drilling at various stages of exploration. Additional projects are in the process of 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”.
Neither the 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 of the information contained in this document.
The foregoing information may contain forward-looking statements regarding the future performance of Noble Mineral Exploration Inc. Forward-looking statements, in particular those regarding 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 documents filed by the Company with the TSX Venture Exchange and securities regulatory authorities. Noble Mineral Exploration Inc. assumes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
H. Vance White, President
E-mail: [email protected]
Email: [email protected]
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