Noble Mineral has gold mega-deposit potential just outside of Timmins
The junior gold mining sector is hot right now as the gold price has surged 9% higher in the past two months.
Noble Mineral Exploration Inc. (TSXV: NOB) is another Canadian junior gold and base metals explorer that has strong exploration potential. The Company’s Project 81 holds a massive 79,000 hectares of mineral rights in the prolific Timmins-Cochrane area of Northern Ontario, Canada. Their 100% owned project is just 30kms north from the Timmins major mining district with first class infrastructure in place.
Noble’s property sits immediately north of the Kidd Creek underground mine that produced about 160 million tons of very good quality base metals over the course of the last 50 years of production. These type of mega deposits normally host other satellite deposits that could be in the order of up to 50 million tons.
This means Noble Mineral Exploration is in a very promising region to find significant gold and base metals.
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Project 81 hosts a number of zones that have historical exploration identifying nickel and gold mineralization from work carried out in the 1960’s and 1970’s.
Timmins is a successful gold mining region
Timmins is known for its gold production and has historically produced 70 plus million ounces in just over 100 years. The area north of the Kidd Creek mine is largely unexplored as it was in private hands and is all over burden cover. With the size and potential of the project Noble is looking to bring in up to 8 joint venture partners.
Project 81 is near key infrastructure
Project generator model
The company has very good support from their shareholder base and as they bring in additional Joint Venture (JV) partners and de-risk the early stage exploration as they look for the next “Kidd Creek” mega deposit.
Gold, nickel, cobalt and PGM’s exploration potential
Noble Mineral President & CEO Vance White stated: “We are not just into gold exploration, we are into nickel, cobalt exploration as well which are tremendously important for the expansion of the electric vehicle market.”
The Company state they have a property wide target potential of 2+ billion tonnes @ 0.25% Ni & 113ppm Cobalt, based on results so far.
Noble Mineral announced last month encouraging preliminary results from mineralogical studies carried out by option and JV partner Spruce Ridge Resources Ltd., from the Company’s Crawford Nickel-Cobalt project near Timmins. The purpose of the study was to determine whether the nickel and other elements occur in the sulfide state, which could be economically extracted.
The recent 4 hole drill program covering 1,818 m resulted in wide intersections of up to 558 m of consistent concentrations of nickel, cobalt, palladium and platinum. Twelve samples of drill core were selected from 1.5 m analyzed intervals, to cover a range of nickel, cobalt and palladium contents.
CEO Vance White said: “We are very pleased with the results that Spruce has reported and in particular the core lengths containing consistent mineralization. The mineralogy results to date are very encouraging. We feel the Crawford Nickel-Cobalt Project could contain significant tonnage. We look very much forward to Spruce advancing their exploration program as we continue to source additional Option and JV Partners for our extensive 79,000 ha holdings.”
Noble has large exploration potential with its massive under-explored 79,000 hectares of tenements. Using a project generator model and working with multiple JV partners to help fund the exploration, Noble will be able to minimize dilution for shareholders and participate in any exploration success.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in ... <Read more about Matthew Bohlsen>