Nouveau Monde Acquires Multiple Graphite Prospects With Grab Samples Up to 19.25% Carbon Graphite
February 12, 2013 (Source: Marketwire) Gatineau, QC — Nouveau Monde Mining Enterprises Inc.(TSX VENTURE:NOU) is pleased to announce that it has signed an agreement to acquire six groups of claims located within a 50 km radius in the Matawinie region north of St-Michel-des-Saints, Québec (the “Claim Blocks”). Selected rock grab samples collected during initial due diligence of the Claim Blocks returned up to 19.25 % Carbon Graphite. The claims are located in the highly prospective Central Metasedimentary belt of the Grenville geological province, host to many active graphite projects. The host rocks in the region are graphitic crystalline marbles and paragneiss, similar to the host stratigraphy at Timcal’s Lac des Iles graphite mine, currently Canada’s only producing graphite mine. The Claim Blocks cover a total of 2,638.5 hectares on 45 mining claims. Nouveau Monde has also staked 148 additional mining claims covering 8,685.4 hectares adjacent to the aforementioned Claim Blocks, for a total land package of 11,323.9 hectares and 193 mining claims.
Nouveau Monde also wishes to report the significant grab sample results obtained on the property during the course of its initial due diligence process. Samples were collected by Antoine Cloutier, Géo., an independent mineral exploration consultant.
The table below summarizes the significant results from the due diligence sampling:
The samples were analyzed for graphitic carbon (Cg) by the LECO method at the ALS Minerals laboratory located in North Vancouver BC. This laboratory complies with Quality Management System ISO9001:2008 Certification.
Nouveau Monde is planning to complete by the end of March 2013 a helicopter-based high-resolution geophysical survey which will cover the whole prospective area. Nouveau Monde management’s expertise in geophysical targeting and modelling will allow the Company to generate high-quality targets that are expected to be drilled as soon as conditions permit.
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Eric Desaulniers, President & CEO of Nouveau Monde, stated: “The acquisition of these new graphite- prospective claims is a strategic complement to our already extensive portfolio of very large flake graphite properties located in the Outaouais area of southwestern Quebec. This transaction allows Nouveau Monde to secure six high-grade graphite prospects in an underexplored territory that we believe has the potential to be the next prolific area for graphite development in the Province. The widespread high-grade flake graphite mineralization encountered during our recent field work, when combined with the proximity of infrastructure, makes these projects very attractive. With this acquisition, Nouveau Monde owns 11 graphite prospective projects in Quebec, totaling about 122,130 hectares and 2,070 mining claims.”
Nouveau Monde’s already extensive portfolio of graphite-prospective properties includes the Ceres property which is located in the Huddersfield township, approximately 95 kilometres northwest of Ottawa (Canada’s capital) and, at its closest point, 6 kilometres northeast of the community of Fort Coulonge. The Ceres property is composed of 180 contiguous map-designated claims covering 9,854 hectares. The Ceres property is entirely owned by Nouveau Monde. Exploration work conducted by Nouveau Monde in 2011-2012 revealed the presence of a multi-kilometric flat lying conductive body that is interpreted to be associated with graphite paragneiss. Surface showings within the conductor range from trace to 3.52% Cg, with visible jumbo flake graphite mineralization.
Mr. Desaulniers concluded: “The acquisition and the staking announced today is in line with our project generator business model of generating extensive mining prospects which can then be advanced in partnership with other companies involved in the development of projects. We intend to apply this approach to our extensive graphite portfolio which will enable us to accelerate the development of these properties and limit shareholder dilution.”
Nouveau Monde has two options to acquire the Claim Blocks from a Quebec-based prospector. The first option is for the acquisition of the Ti-Nou claim block (see above table for details) by making the following payments to the vendor: i) $20,000 within five days of the receipt of the TSX Venture Exchange approval of this agreement; ii) $10,000 in cash 6 months and 12 months following the receipt of the TSX Venture Exchange approval of this agreement; iii) and incurring an aggregate of $125,000 of exploration expenditures on or in an area of interest of five kilometers around any claims contained in the Claim Blocks within 24 months of the receipt of the TSX Venture Exchange approval of this agreement.
The second option is for the acquisition of the claim blocks A, B, C, D and E (see above table for details) by making an additional payment of $25,000 in cash to the vendor within 18 months of the receipt of the TSX Venture Exchange approval of this agreement.
The vendor will retain a 2-per-cent net smelter royalty on the Claim Blocks; each tranche of 1 per cent can be purchased by Nouveau Monde for $1-million.
The technical information in this news release was prepared by Eric Desaulniers, MSc, Géo., President and CEO for Nouveau-Monde and reviewed by Antoine Cloutier, Géo., independent consulting geologist that supervised the field work and sample preparation. Both are qualified persons under National Instrument 43-101.
Nouveau Monde is a Gatineau, Quebec based exploration company with a large portfolio of base and precious metals and industrial minerals in the province of Québec. It has adopted a project generator business model that provides the company with exposure to a multitude of projects to be explored and financed by partners while allowing it to carry out relatively low-cost, grassroots-style prospecting and reconnaissance exploration elsewhere while preserving its capital and thus limiting shareholders dilution.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Nouveau Monde will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Nouveau Monde.
This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release
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