NioGold Drills 15.8 metres at 4.95 g/t Au at Marban
Val d'Or, Quebec / TheNewswire / February 26, 2015 - NioGold Mining Corp. (TSX-V: NOX) (OTCQX: NOXGF) ("NioGold") is pleased to provide the results of eighteen (18) new diamond drill holes of its infill program on the modelled open pit shell of the Marban deposit, located on its 100% owned Marban Block property in the Malartic Gold camp, Abitibi District, Quebec. The drill program was recently increased from 40,000 to 50,000 meters (see news release dated February 19, 2015).
Drilling highlights from this set of holes include:
-
-28.1 metres at 1.38 g/t Au in hole MB-14-359 at a vertical depth of 245 m.
-1.2 metres at 74.38 g/t Au in hole MB-14-369 at a vertical depth of 95 m.
-27.6 metres at 1.50 g/t Au in hole MB-14-371 at a vertical depth of 130 m.
-0.8 metre at 32.65 g/t Au in hole MB-14-371 at a vertical depth of 365 m.
-15.8 metres at 4.95 g/t Au, including 4.2 metres at 12.58 g/t Au in hole
MB-14-372 at a vertical depth of 120 m.
-
-9.8 metres at 6.07 g/t Au in hole MB-14-372 at a vertical depth of 275 m.
-5.2 metres at 5.26 g/t Au in hole MB-14-374 at a vertical depth of 50 m.
All intersections reported in this news release were comparable or higher grade than anticipated intersections from the existing in-pit block model, except for new zones of mineralization not included in the current block model, such as 0.8 m at 32.65 g/t Au in hole MB-14-371 and other intersections labelled "new" in the table below.
Robert Wares, NioGold's President and CEO, commented: "These results show the broad range of widths and grades that reflect high grade shoots surrounded by lower grade haloes that characterize the wider mineralized shear zones in the Marban deposit. Higher grade short intercepts such as 74.38 g/t Au over 1.2 m in hole MB-14-369 represent richer, narrower shears that will help improve the average grade of the overall resource. The added 10,000 metres to the program will allow us to increase drilling density, especially on the eastern part of the pit shell, which will yield a more robust resource model scheduled to be released by early Q4 2015."
Results from holes MB-14-357 to MB-14-374 are summarized below:
-------------------------------------------------------------------------------------------
|Hole |Easting1 |Northing1 |Azimuth|Dip |Hole |From |To
|Length |Grade |Zone |
| | | (m) | | |Length |
| | (m) | | |
| | (m) | | | | (m) | (m)|
(m)| | (g/t Au)| |
| | | | | | | | |
| | |
|-----------------------------------------------------------------------------------------|
|MB-14-357|3998 |4292 |178° |-64°|507 |43.1 |46.3
|3.2 |1.40 |Grano|
|-----------------------------------------------------------------------------------------|
|MB-14-358|4401 |4100 |180° |-53°|507 |100.6
|101.6|1.0 |23.05 |Hw |
|-----------------------------------------------------------------------------------------|
| | | | | | |175.6
|176.8|1.2 |11.97 |2 |
|-----------------------------------------------------------------------------------------|
| | | | | | |194.8
|212.8|18.0 |1.14 |E |
|-----------------------------------------------------------------------------------------|
| | | | | | |235.6
|236.4|0.8 |22.91 |New |
|-----------------------------------------------------------------------------------------|
| | | | | | |446.6
|447.8|1.2 |7.57 |T |
|-----------------------------------------------------------------------------------------|
|MB-14-359|4401 |4038 |180° |-51°|441 |122.9
|128.0|5.1 |1.36 |2 |
|-----------------------------------------------------------------------------------------|
| | | | | | |178.0
|181.2|3.2 |3.48 |E |
|-----------------------------------------------------------------------------------------|
| | | | | | |202.9
|222.0|19.1 |1.02 |D3 |
|-----------------------------------------------------------------------------------------|
| | | | | | |315.0
|343.1|28.1 |1.38 |C-A-P|
|-----------------------------------------------------------------------------------------|
| | | | | | |356.3
|365.4|9.1 |1.67 |V |
|-----------------------------------------------------------------------------------------|
| | | | | |incl |364.4
|365.4|1.0 |8.97 |V |
|-----------------------------------------------------------------------------------------|
|MB-14-360|3999 |4266 |177° |-58°|514.8 |449.7
|451.2|1.5 |4.48 |C-A |
|-----------------------------------------------------------------------------------------|
| | | | | | |459.8
|469.5|9.7 |0.80 |T |
|-----------------------------------------------------------------------------------------|
|MB-14-361|4147 |3907 |181° |-53°|270 |96.8 |97.3
|0.5 |26.20 |E |
|-----------------------------------------------------------------------------------------|
| | | | | | |159.9
|172.6|12.7 |1.34 |C-A |
|-----------------------------------------------------------------------------------------|
|MB-14-362|4149 |3759 |181° |-50°|153 |53.0 |54.0
|1.0 |0.72 |New |
|-----------------------------------------------------------------------------------------|
|MB-14-363|4199 |3960 |178° |-63°|351 |251.2
|253.6|2.4 |3.16 |A |
|-----------------------------------------------------------------------------------------|
|MB-14-364|4199 |3908 |181° |-63°|306 |159.6
|160.6|1.0 |6.59 |New |
|-----------------------------------------------------------------------------------------|
| | | | | | |233.3
|237.6|4.3 |3.11 |New |
|-----------------------------------------------------------------------------------------|
|MB-14-365|4200 |3852 |184° |-65°|255 |135.2
|136.4|1.2 |5.44 |New |
|-----------------------------------------------------------------------------------------|
| | | | | | |143.3
|150.9|7.6 |0.89 |C |
|-----------------------------------------------------------------------------------------|
|MB-14-366|4200 |3792 |184° |-65°|201 |107.5
|114.5|7.0 |0.90 |C |
|-----------------------------------------------------------------------------------------|
| | | | | | |124.1
|127.5|3.4 |1.50 |A |
|-----------------------------------------------------------------------------------------|
|MB-14-367|4248 |3781 |179° |-53°|234 |122.4
|133.8|11.4 |0.54 |C |
|-----------------------------------------------------------------------------------------|
|MB-14-368|4299 |3982 |177° |-51°|405 |150.0
|155.9|5.9 |1.33 |D3 |
|-----------------------------------------------------------------------------------------|
| | | | | | |225.1
|269.2|44.1 |0.78 |B-C-A|
|-----------------------------------------------------------------------------------------|
|MB-14-369|4300 |3922 |181° |-48°|363 |129.4
|130.6|1.2 |74.38 |E |
|-----------------------------------------------------------------------------------------|
| | | | | | |194.0
|207.1|13.1 |1.34 |B-C2 |
|-----------------------------------------------------------------------------------------|
|MB-14-370|4349 |3979 |178° |-57°|417 |265.5
|288.1|22.6 |1.28 |C-P |
|-----------------------------------------------------------------------------------------|
|MB-14-371|4450 |4034 |179° |-61°|450 |139.2
|166.8|27.6 |1.50 |E |
|-----------------------------------------------------------------------------------------|
| | | | | | |172.0
|173.4|1.4 |15.01 |E |
|-----------------------------------------------------------------------------------------|
| | | | | | |320.6
|327.2|6.6 |1.38 |C |
|-----------------------------------------------------------------------------------------|
| | | | | | |350.3
|352.6|2.3 |4.97 |P |
|-----------------------------------------------------------------------------------------|
| | | | | | |356.2
|367.5|11.3 |0.99 |M-V |
|-----------------------------------------------------------------------------------------|
| | | | | | |401.7
|407.0|5.3 |5.11 |H |
|-----------------------------------------------------------------------------------------|
| | | | | | |423.4
|424.2|0.8 |32.65 |New |
|-----------------------------------------------------------------------------------------|
|MB-14-372|4450 |3978 |180° |-60°|414 |133.9
|149.7|15.8 |4.95 |E |
|-----------------------------------------------------------------------------------------|
| | | | | |incl |134.9
|139.1|4.2 |12.58 |E |
|-----------------------------------------------------------------------------------------|
| | | | | | |274.6
|299.3|24.7 |1.44 |C |
|-----------------------------------------------------------------------------------------|
| | | | | |incl |284.5
|285.6|1.1 |13.15 |C |
|-----------------------------------------------------------------------------------------|
| | | | | | |316.7
|326.5|9.8 |6.07 |M |
|-----------------------------------------------------------------------------------------|
|MB-14-373|4348 |4159 |177° |-82°|279 |184.6
|186.1|1.5 |2.72 |Grano|
|-----------------------------------------------------------------------------------------|
|MB-14-374|4102 |4252 |183° |-54°|510 |57.9 |63.1
|5.2 |5.26 |Grano|
|-----------------------------------------------------------------------------------------|
| | | | | |incl |61.8
|63.1 |1.3 |15.85 |Grano|
|-----------------------------------------------------------------------------------------|
| | | | | | |346.5
|348.5|2.0 |6.48 |D? |
-------------------------------------------------------------------------------------------
1: Marban grid
These eighteen new holes have a cumulative length of 6,578 m, and they infill the center-east part of the deposit over a strike length of 450 metres. To date, the results of 33 holes of the program have been released for a total of 11,568 metres. The infill program is progressing rapidly with three drills and is 50% complete with about 25,000 meters drilled. Further assay results will be released as they become available.
Technical Info, QA/QC and Qualified Persons
Drill orientations are roughly perpendicular to dip of mineralized zones and true widths of mineralized zones represent minimum 90% of reported core intervals.
Diamond drill holes were drilled with NQ-size core, except for holes that traversed underground workings which were completed using BQ-size core. The core was sealed and delivered by the drilling contractor to NioGold's facilities located at the Norlartic mine site. The core was photo-graphed for reference, logged and mineralised sections were sawed in half. Sample lengths vary between 0.5 to 1.5 metres. Half core samples were bagged, sealed and delivered to Actlabs in Ste Germaine Boule, Quebec, which is an accredited laboratory. The remaining core is stored on site for reference. Samples were assayed by the fire-assay method using an atomic absorption finish on a 50-gram pulp split. A quality assurance and quality control program (QA/QC) was implemented by NioGold and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards, blanks and field duplicates in the sample batches sent to the laboratory and a systematic re-assaying of samples returning values above 3 g/t Au by fire-assay using a gravimetric finish. As well, pulps grading above 0.5 g/t Au or mineralized intervals are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.
Drill program design and monitoring, core logging and sample preparation are being executed at NioGold's facilities in Val d'Or, under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), NioGold's Vice-President Exploration and a Qualified Person as defined by National Instrument 43-101. QA/QC program utilized is consistent with NI 43-101 and industry best practice standards. This news release was prepared by Mr. Ducharme.
NioGold Mining Corp. - << On Canada's Golden Highway >>
NioGold Mining Corp. is a mineral exploration and development company focused on gold. The Company's projects are located in the heart of Quebec's prolific Abitibi gold mining district. The Cadillac, Malartic and Val-d'Or mining camps in this district have produced over 45 million ounces of gold since the 1930's and presently encompass six producing gold mines, including the prolific Canadian Malartic mine located adjacent to NioGold's flagship Marban project. NioGold's land holdings within the Abitibi presently cover 125km2 and encompass seven former gold producers, notably the Norlartic, Kierens, Marban and Malartic Hygrade mines that collectively produced 630,000 ounces of gold.
NioGold's experienced and qualified technical team are overseeing the advancement of these projects, targeting expansion of the resource base and reserve definition of the Marban Block project.
NioGold invites you to visit the company website at www.niogold.com.
For information on NioGold Mining Corp. contact:
Michael A. Iverson Dale Paruk Louis Baribeau
miverson@niogold.com dparuk@niogold.com lbaribeau@niogold.com
Tel: (604) 856-9887 Tel: (604) 510-4505 Tel: (514) 667-2304
Toll-free: (877) 642-6200
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS
This news release includes "forward looking statements", as that term is defined in Section 27A of the Unites States Securities Act of 1933, as amended, and Section 21E of the United States Exchange Act of 1934, as amended, that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.
Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. Except as required by law, the Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.
CAUTIONARY NOTE TO U.S. INVESTORS
The United States Securities and Exchange Commission (the "SEC") permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company may use certain terms in this news release, such as 'measured resources', 'indicated resources' and 'inferred resources', which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. The news release may contain information about adjacent properties on which the Company has no right to explore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative of mineral deposits on the Company's properties.
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