Noble and JV partners focused on exploring over 79,000 hectares of mineral rights in Northern Ontario
If you are looking for huge exploration potential just 30kms from Timmins then Canadian junior exploration company Noble Mineral Exploration Inc. (TSXV: NOB) (“Noble”) has it all. Even better is the area is highly prospective for the most valuable metals – gold, nickel, cobalt, and copper. The Timmins area has been a prolific gold and base metals mining region for over a century and has produced over 75 million ounces of gold. In fact, the Abitibi Greenstone Belt, which stretches from Ontario to Quebec has produced over 180 million ounces of gold thus far, unparalleled anywhere on the planet except in the gold fields of South Africa.
Noble holds a massive land package of over 79,000 hectares of mineral rights on their Project 81 in Northern Ontario. The Project is in the prolific Timmins/Cochrane area which hosts a multiple of diverse drill ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Project 81 has >4,000 anomalous responses with 1,822 targets, resulting in 532 unique bedrock targets within 94 anomalous trends. Noble uses a project generator model which means they can joint venture (JV) with several other companies who will pay for the exploration in return for a share in the project. Noble also holds a portfolio of securities with its JV partners, plus gold streaming and royalty interests.
Project 81 location map in the Timmins area of Northern Ontario, Canada
Project 81 history
Historical exploration has identified nickel and gold mineralization from work that was carried out in the 1960’s and 1970’s. The project sits adjacent to the Kidd Creek Mine Complex that produced about 160 million tons of very good quality base metals. Mega deposits of this size are just not isolated and random, and normally host other satellite deposits.
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Latest drill results
Noble Mineral has recently been advised of the 2019 winter drill program results from Project 81, Carnegie Township (Twp), from one of the company’s option and JV partners. A total of seven holes were drilled at Carnegie Township to test conductive trends from a previous survey flown in 2018. Four of the holes encountered anomalous zinc and copper mineralization. One of the holes requires re-assaying after intersecting 12 m of Zn mineralization, with some sections greater than 1% zinc. Another drill hole encountered up to 18 m of massive to semi-massive sulfide containing anomalous but low-grade zinc. Two more drill holes are scheduled in September to test additional airborne targets at Carnegie, with follow up drill programs planned to continue the exploration of the area.
Vance White, President, and CEO of Noble quotes: “We are very pleased that our Carnegie partners will continue with additional work on the Carnegie targets.”
Drill targets summary
All mining land taxes are now fully paid
The Company also reported that it has fully repaid all mining land taxes that had accrued on the patented properties comprising the bulk of its Project 81 property. Noble has elected to pay the final installment before the scheduled payment date and has received confirmation from the Government of Ontario that all payments were received and that there are currently no mining land taxes owing on the patented properties within Project 81.
Close to excellent infrastructure and the town of Timmins
Project 81 is well served by the nearby town of Timmins just 30 km away. As a regional service and distribution center, Timmins not only supports the mining industry but also the lumbering and related secondary and tertiary industries within the region.
Investors will need to wait a bit longer as Noble continues to partner so as to better explore such a massive landholding with huge potential.
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>