Project 81 Exploration Update, JV Partner Announces a Significant Nickel, Cobalt, PGE Discovery
- Hole CR18-01 Intersected 291m assaying 0.293% Ni, 118 ppm Co, .02 g/t Pd and .011 g/t Pt- Drill Holes 03 and 04 Ended in Mineralization with Increasing Grade
Toronto, March 04, 2019 – Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) is pleased to announce that its Option and JV partner Spruce Ridge Resources Ltd. (TSX-V SHL) announced the results of its 2018 diamond drill program on the Crawford Ultramafic Complex. (The Table and Map below were taken directly from the Spruce Ridge Resources Ltd., News Release of March 01, 2019.)
| CRAWFORD NICKEL PROJECT - 2018 DIAMOND DRILLING RESULTS | ||||||||||
| DDH ID | Hole dip | Hole azimuth | From (m) | To (m) | Core Length | Ni (%) | Co (ppm) | Pt (g/t) | Pd (g/t) | Au (g/t) |
| SUMMARY OF INTERVALS PASSING 0.25% Ni CUTOFF | ||||||||||
| CR18-01 | -60? | 035? | 234.00 | 525.00 | 291.00 | 0.293 | 118 | 0.011 | 0.020 | 0.002 |
| includes | -60? | 035? | 238.50 | 393.00 | 154.50 | 0.320 | 120 | 0.012 | 0.029 | 0.001 |
| includes | -60? | 035? | 238.50 | 283.50 | 45.00 | 0.384 | 144 | 0.019 | 0.061 | 0.001 |
| CR18-03 | -50? | 035? | 475.50 | 606.00 eoh | 130.50 | 0.299 | 140 | 0.028 | 0.055 | 0.006 |
| includes | -50? | 035? | 492.00 | 547.50 | 55.50 | 0.324 | 139 | 0.028 | 0.096 | 0.005 |
| includes | -50? | 035? | 492.00 | 516.00 | 24.00 | 0.333 | 140 | 0.060 | 0.201 | 0.011 |
| CR18-04 | -50? | 035? | 205.50 | 402.00 eoh | 196.50 | 0.332 | 135 | 0.010 | 0.027 | 0.002 |
| includes | -50? | 035? | 208.50 | 285.00 | 76.50 | 0.358 | 156 | 0.017 | 0.041 | 0.001 |
| includes | -50? | 035? | 208.50 | 220.50 | 12.00 | 0.532 | 220 | 0.030 | 0.070 | 0.001 |
| SUMMARY OF INTERVALS PASSING 0.20% Ni CUTOFF | ||||||||||
| CR18-01 | -60? | 035? | 36.00 eoc | 594.00 eoh | 558.00 | 0.261 | 127 | 0.010 | 0.016 | 0.002 |
| CR18-02 | -50? | 035? | 24.00 eoc | 175.50 | 151.50 | 0.224 | 126 | 0.005 | 0.005 | 0.001 |
| CR18-02 | -50? | 035? | 175.50 | 216.00 eoh | 40.50 | Dunite less than 0.20% Ni | ||||
| CR18-03 | -50? | 035? | 51.00 eoc | 288.00 | 237.00 | Mafic volcanic and marginal zone | ||||
| CR18-03 | -50? | 035? | 288.00 | 606.00 eoh | 318.00 | 0.248 | 126 | 0.019 | 0.028 | 0.003 |
| CR18-04 | -50? | 035? | 42.00 eoc | 72.40 | 30.40 | Mafic volcanic | ||||
| CR18-04 | -50? | 035? | 72.40 | 193.50 | 121.10 | Dunite less than 0.20% Ni | ||||
| CR18-04 | -50? | 035? | 193.50 | 402.00 eoh | 208.50 | 0.324 | 135 | 0.018 | 0.028 | 0.003 |
| SELECTED INTERVALS WITH ELEVATED PGEs | ||||||||||
| CR18-03 | -50? | 035? | 492.00 | 493.50 | 1.5 | 0.285 | 140 | 0.219 | 0.567 | 0.004 |
| CR18-03 | -50? | 035? | 507.00 | 511.50 | 4.50 | 0.339 | 140 | 0.059 | 0.498 | 0.048 |
| CR18-04 | -50? | 035? | 165.00 | 166.50 | 1.50 | 0.182 | 120 | 0.069 | 0.570 | 0.006 |
| Dumont Deposit average grade for comparison | 0.27 | 107 | 0.009 | 0.020 | n/a | |||||
| Note: eoc = End of Casing; eoh = End of Hole | ||||||||||
1Note: the lengths reported are core lengths and not true widths. The Company has insufficient information to determine the attitude, either of the ultramafic body or of mineralized zones within it. True widths will be less than the core lengths by unknown factors.
The 2018 drilling program by Spruce Ridge and its Joint Venture partner, a group of private investors, was focussed on the Crawford Ultramafic Complex, a 3.5-kilometre long body of peridotite, dunite and their serpentinized equivalents. The target was defined by a helicopter-borne magnetic and electromagnetic survey and an airborne gravity survey, both conducted over of the entire project area of 100 sq. km. An Artificial Intelligence (A.I.) review of data, provided by Albert Mining Inc. (TSX-V AIIM), also identified the area as being prospective for nickel.
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Vance White, President and CEO of Noble is quoted as saying " we are very pleased with the results that Spruce has returned and in particular the core lengths containing consistent mineralization on this massive anomaly located with easy access from Highway 655. We look very much forward to Spruce continuing their program as we continue to bring in additional Option and JV Partners to our extensive 79,000 ha land holdings".
Randy S C Singh PGeo (ON), PEng (ON), VP Exploration & Project Development of Noble and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise 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 which, in addition to its shareholdings in in Spruce Ridge Resources Ltd., and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in excess of 79,000 hectares of mineral rights in the Timmins - Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. More detailed information is available on the website at www.noblemineralexploration.com.
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
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