Nouveau Monde Mining Enterprises Inc.: Start of a 1500m Exploration Drilling Campaign Targeting High Grade Graphite Zones on the Matawinie Property
October 23, 2013 (Source: Marketwired) — Nouveau Monde Mining Enterprises Inc. (TSX VENTURE:NOU)(“Nouveau Monde“) is pleased to announce the start of a 1500m drill program on the Matawinie property. The core drilling campaign is targeting 23 priority holes spread amongst the general areas of the Ti-NOU and Gros-NOU surface showings. The planned drill holes are positioned based on the interpretation of a recent high resolution ground geophysical program (see September 18th news release). The objective of the campaign is to determine the areas of interest within the multiple kilometers of prospective geophysical anomalies that show the most promising economical parameters. The targets are interpreted to be at surface or within 15m under the collar. These targets possess similar physical properties (magnetic susceptibility vs conductivity) and are continuous with the high grade graphite zones identified at surface on the Ti-NOU and Gros-NOU showings. The first drilling results should be received and announced around the end of November or in December depending on the processing time needed by the laboratories.
EXPLORATORY METALLURGICAL TESTING UNDERWAY
One bulk sample of 10kg collected alongside channel sample TN-TR01 on the Ti-NOU showing was submitted on September 30th to the company SGS in Lakefield, Ontario, with the goal of making a first graphite concentrate. The objective of this metallurgical test is to assess the reaction of Matawinie graphite ore to the typical crushing, grinding and flotation processes used in the industry as well as characterize the concentrate in regards to grade, recovery and flake size distribution. No thermal or acid purification will be done on the concentrate. The results should be received and announced within the first week of November.
The Matawinie Property consists of six group of claims located about 140 km north of Montreal. The claims are contained within a 50 km radius just North of St-Michel-des-Saints in the Matawinie regional county municipality, Province of Québec. Nouveau Monde has an option to acquire 100% interest in the property (see February 12th 2013 press release for details). These claims are located at the Eastern limit of the highly prospective Central Metasedimentary belt of the Grenville geological province, host of the Timcal’s Lac des Iles mine, currently Canada’s only producing graphite mine. The host rocks in that region are graphitous paragneiss and quartzite.
Here is a summary of the results from the exploration work carried out by Nouveau Monde on the Matawinie property since its acquisition in February 2013:
- Completion of a regional heliborne MAG-TDEM survey over an area of 60km radius that allowed the definition of roughly 15km of conductive material distributed amongst six claim blocks.
- Systematic ground follow up prospecting campaign using portable geophysical tool that permitted the discovery of 10 different graphite showings with grade above 5% Cg on the A, D, E and Ti-NOU blocks.
- The discoveries of the Ti-NOU and Gros-NOU showings in the lac Cousineau area on which five grab samples graded above 15% Cg and are coincident with two conductive anomalies of 2000m by 250m and 2000m by 1000m.
- 5m long channel sample made across foliation (open in both directions) in the trench TN-TR01 on the Ti-NOU showing with average grade of 15.16% Cg.
- Drill hole TN-DH01 made on the Ti-NOU showing with an intersection of 17.7m starting at surface grading 12.01% Cg including a section of 13.9m at 13.4% Cg.
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The technical information in this news release was prepared by Eric Desaulniers, MSc, Géo, president and CEO for Nouveau-Monde and a qualified person under National Instrument 43-101.
Nouveau Monde is a mining exploration company holding a large portfolio of base and precious metals and industrial minerals in the province of Québec. Our business model is based on the generation of projects in new underexplored territories using the most advanced remote sensing and geophysical tools available in the industry. Our expertise with these modern tools allows us to save on exploration cost leading to much efficient area coverage to maximize discovery chances. Our company is looking to develop its prospects in partnership with the objectives to expose our shareholders to a multitude of possibilities. This leverage transforms every dollar spent by Nouveau Monde in many dollars of exploration on our properties.
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.
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.
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