Noble Mineral Exploration Reports MacDonald is Initiating Bulk Sampling Program on the Wawa-Holdsworth Project
The Wawa-Holdsworth property is comprised of fee simple absolute patents carrying both mineral and surface rights which make them exempt from MNDM exploration plan and permit requirements. The property is also located in an area which is currently not subject to designated licensing requirements under the Aggregate Resources Act. This will help to expedite preparation for potential extraction as the Company now drafts a closure plan.
About the Oxide Sands
The Holdsworth Pyrite prospect is a gold and silver bearing, black colored, "oxidized cap" ("oxide sands") that overlies a massive pyrite zone. The five confirmed zones (the 'East', 'East Extension', 'East Offset', 'West' and 'West Offset') have a combined strike length in excess of 2,200 metres (Algoma Steel Corp. and the Grasseli Chemical Co.). The actual width of the underlying pyrite zone has a range of 2 to 10 metres. In several test locations, the oxide sands were reported to reach a depth of over 8 metres.
The oxide sands are one of the main gold targets on the property. MacDonald Mines' current trenching program is mapping and confirming the oxide sands' strike length and thickness. The Company is also conducting a systematic sampling of the mineralized horizon over the total oxide sands strike length. During the 1988 exploration program, sampling from the red, yellow and grey soil above the oxide sands was found to contain elevated gold values, ranging from trace to 0.206 oz/ton, gold. This surface material will also assist in delineating the extent of the oxide sands.
Potential Extraction of the Oxide Sands
The soft and relatively unconsolidated oxide sands material can be easily excavated with a backhoe and appears to be amenable to being extracted like an aggregate. The area's shallow overburden, the proximity to labour and equipment and the easy access to the site should result in very inexpensive mining costs should the Company delineate a large enough deposit. A sampling program of the oxide sands conducted in 2002 produced an average grade of 4.03 g/t gold and 30.89 g/t silver. Preliminary mill testing by normal vat leach processing without crushing or other processing resulted in a 94 % gold recovery (Seymour M. Sears, P. Geo., 2002).
About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold and silica exploration in Canada. The Company has built a portfolio of safe-jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for return. The Company is aggressively advancing its highly prospective Wawa-Holdsworth Project and Charlevoix Silica Property.
Wawa-Holdsworth Project Highlights:
- Approximately 285 hectares, 20 kilometres northeast of the town of Wawa
- Neighbouring Argonaut's >6Moz gold Magino Deposit & Richmont's >1.7Moz gold Island Gold Mine;
- Numerous gold showings with diversified mineralization styles occurring in a 500 metres-wide deformation corridor;
- Lode Gold in traditional quartz veins, known as the "The Soocana Vein;
- an oxidized cap at surface developed over a massive pyrite zone (Algoma Iron Formation) known as the "The Oxide Sands";
- the precursor to the Oxide Sands - a massive pyrite zone (Algoma Iron Formation) at depths, known as "The Massive Sulphide";
- Year-long road access and easy access to rail, road, electrical power, labour force and suppliers;
- Fee simple absolute ownership of both surface and mineral rights property-wide facilitates the early and advanced exploration process and timelines.
The Company's common shares trade on the TSX Venture Exchange under the symbol "BMK".
Qualified Person
Randy Singh BSc., PGeo(ON), PEng(ON) is a "qualified persons" as such term as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release on behalf of Noble Mineral Exploration Inc..
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 70,641 hectares of mineral rights in the Timmins - Cochrane areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan. More detailed information is available on the website at www.noblemineralexploration.com.
Cautionary Statement: 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.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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