PROJECT 81 Exploration Update: Diamond Drilling Commences on Crawford Property
November 15, 2018 (Source) — Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) is pleased to announce that Spruce Ridge Resources Ltd. (TSX-V: SHL) has commenced an approximately 2000 metre diamond drilling campaign on the Crawford Township property optioned from Noble (NR dated 2018-05-08).
Spruce also announced the closing of a $400,000 financing, the proceeds of which will be used to advance the Company’s Crawford Nickel, VMS property with a Phase 1 drill program and for general working capital.
The first drill hole is planned to be 600 metres deep and will test the strongest portion of a 3,000 metre long magnetic anomaly within an interpreted ultramafic and mafic intrusive complex covering an area of approximately 3.5 by 2.0 kilometres, estimated from recently completed airborne geophysical surveys. An airborne gravity survey using the Falcon system was recently carried out by Noble. A helicopter-borne electromagnetic and magnetic survey also covered the area.
The presence of ultramafic and mafic intrusive rocks is confirmed by limited diamond drilling performed in the 1960s. Ultramafic-mafic complexes are favourable sites for nickel plus or minus copper plus or minus cobalt plus or minus platinum-group elements (PGEs). The primary target of the upcoming drill program is a magnetic anomaly peak and closely associated 1,400 metre long EM conductor. An artificial intelligence (AI) assessment of combined geological and geophysical data confirmed the favourable interpretation of the ultramafic-mafic intrusive complex as a target for nickel mineralization, as well as highlighting VMS-type targets elsewhere on the Crawford property (see news release dated July 17, 2018).
Noble’s Project 81 is located within the Kidd-Munro assemblage of the western Abitibi Subprovince in Northern, Ontario, and is one of the largest contiguous, underexplored land packages in Ontario. The assemblage is one of the most ultramafic-rich volcanic successions of any age in the world and is host to the Kidd Creek VMS deposit, an important example of bimodal-mafic (ultramafic) volcanic-associated massive sulphide (VMS) deposits.
Vance White, President and CEO of Noble. said “we are very pleased to have our partner Spruce Ridge commence an initial drill program on Crawford. A tremendous amount of technical review of current and historic data has been undertaken in order to select the initial proposed target to be drilled, which we feel may be a very large Nickel target with potential Cobalt mineralization.”
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About Spruce Ridge Resources Ltd:
Spruce Ridge Resources has a 100% interest in the Great Burnt Copper/Gold Property in Central Newfoundland which covers a series of copper plus or minus gold rich VMS deposits including the Great Burnt Main Deposit. Potential high-grade starter pit identified with 237,000 tonnes at 2.51% copper (undiluted) at the Great Burnt Zone. Management considers that an open pit with processing at a custom facility should have low capex requirements. It also has a 50% joint venture with Americas Silver Corporation on property that contains tailings with low grade gold and silver from the Drumlummon Mine in Montana and an agreement with Anaconda Mining whereby Anaconda acquired from Spruce Ridge the Viking and Kramer gold properties in northwestern Newfoundland. The Viking property is host to the Thor Deposit which has combined Indicated and Inferred resources totaling 83,000 ounces of gold at an average grade of 2.09 and 1.79 g/t Au respectively at a 1.0 g/t Au cutoff.
Colin Bowdidge, Ph.D, P.Geo., a “Qualified Person” under National Instrument 43-101, has reviewed and approved the technical contents of this press release as it pertains to Spruce Ridge Resources Inc.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company which, apart from its shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Wawa-Holdsworth gold exploration property in Wawa, Ontario, has as its flag ship program Project 81, a contiguous land package of approximately ~79,000 hectares covering 17 townships immediately north of the Kidd Creek Mine (celebrating its 52nd year of operation). Project 81 which has seen very limited mineral exploration over the last 50 years and has had a number of historical drill indicated Gold, Copper, Lead-Zinc, Silver and Nickel showings. Noble has confirmed the discovery of a very large, low grade Nickel-Cobalt Deposit in Kingsmill Township in 2012, which is within the project area. The Lucas Gold showing was also drill tested by Noble in 2012 with additional follow up drilling to be carried out during the 2018-19 winter exploration season. Additional information can be found on our website at www.noblemineralexploration.com.
Randy S.C. Singh, P.Geo (ON), P.Eng (ON) VP- Exploration & Project Development and 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 as it pertains to Noble.
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.
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