70,000 hectares of mineral rights in Timmins area owned by who?
Noble Mineral Exploration Inc. (TSXV: NOB) is a Canadian based mineral exploration company and project generator. The Company holds over 70,000 hectares of mineral rights in their flagship Project 81 in Canada. The Company also holds a portfolio of additional diversified exploration projects at various stages of exploration and is drilling for gold in the Wawa and North Timmins areas of Northern Ontario.
Project 81 covers 12 townships immediately north of Glencore’s Kidd Creek mine in the Timmins/Cochrane area of Northern Ontario. The Kidd Creek mine has been in production for over 50 years and has produced 150 million tonnes of very high-grade base metals. The Company is focused on seeking joint venture partners to further expand all its exploration and development programs.
Project 81 hosts a number of zones that have had historical exploration, identifying nickel and gold mineralization from work carried out in the 1960’s and 1970’s (these sample results are historical and non-NI 43-101 compliant), as well as assay results from drilling conducted by the company in 2012. That drilling identified low-grade nickel-cobalt mineralization which in today’s EV boom also adds potential value, especially given the current high price of cobalt.
Project 81 has huge exploration potential being one of Canada’s largest under-explored and privately held land packages, situated approximately 30 km north of the Timmins major mining district. The previous owner of Project 81 land was a lumber and pulp company, hence the reason for the under development in mining. Project 81 has >4,000 anomalous responses with 1,822 targets, resulting in 532 unique bedrock targets within 94 anomalous trends.
Recent drill results from the 2018 drilling campaign were very positive and included a range of gold grades from 0.24g/t up to 7.85 g/t Au, with almost every drill hole finding gold along the 650m tested of the 1700m strike length, as interpreted from Airborne EM and MAG Surveys.
Noble is an excellent project generator candidate with 100% owned mineral rights on its Project 81 property, consisting of high-potential nickel volcangenic massive sulphide [VMS] and gold targets. The Company has one Joint Venture and two binding Letters of Intent (LOIs) to joint venture on Project 81 signed to date. The Company is working on additional joint venture opportunities. There is also a settlement agreement in place with Ministry of Northern Development and Mines on mining land taxes.
Noble is also an investment holding company owning MacDonald Mines Exploration Limited shares and warrants (19.4% partially diluted ownership), 5,000 oz of gold streaming, plus a 1.5% gold NSR on the Wawa-Holdsworth Gold Project. Noble has teamed up with well respected financial partner and technical partners applying state of the art technology to find metal in the ground – Including geo-science, geophysics and gravity surveys to identify and prioritize gold, copper, lead, zinc and nickel drill-ready targets.
Project 81 is just 30 km from Timmins, which has a population of over 42,000. The Timmins economy is based on natural resource extraction and is supported by industries related to lumbering and to the mining of gold, zinc, copper, nickel and silver. Timmins serves as a regional service and distribution centre, it has significant industry services, ample access to power and water supplies with infrastructure in place and access by a paved highway. It is also served by Timmins Victor M. Power Airport.
Noble Mineral Exploration has a market cap of C$ 7.2m.
In conclusion Noble Mineral has great potential for mineral discovery due to being located in the historically proven mining region of Timmins (and with tenements adjacent to Glencore), and having a massive ~70,000 hectares of mineral rights, with promising initial drill results. Gold is the main target; however there is also the potential for valuable base metals (including cobalt). This is why Noble Mineral has strong exploration potential.