Nippon Dragon Resources Inc. Provides Progress Report for Rocmec 1
Brossard, July 9th, 2020 - Nippon Dragon Resources Inc. ("Nippon" or "NDR") (TSXV: NIP) (OTC:RCCMF), is pleased to provide a progress report as it moves forward with the development of the Rocmec 1 gold mine. Highlights include:
- The installation and start-up of a natural gas generator. This is to decrease our impact on the environment and increase the energy efficiency of our mine site;
- The permanent installation of the ventilation network which will allow us to increase the number of mining equipment dedicated to clearing the mineralized rock;
- The acquisition of a 2 cubic yard shuttle loader and a 20 ton truck will allow us to increase our daily mucking capacity;
- Drift development on level 50 (Talus vein) is advancing rapidly, this will give us access to a block of mineralized rock 100 meters long by 30 meters high. The extraction will be done by thermal fragmentation as soon as the development is completed.
``The Covid19 restrictions caused delays in our program, however the restrictions have now been lifted and operations are gradually returning to normal with social distancing and hygienic measures. The hiring of new staff continues according to our established schedule`` stated Donald Brisebois, President & CEO of Nippon.
Rocmec 1 project
The Rocmec 1 project is located in the Dasserat Township, Province of Quebec on the shores of the Labyrinthe Lake. It is approximately 35 kilometres west of the town of Rouyn-Noranda and is easily accessible from Route 117 and the frontier gravel road separating Quebec and Ontario and a secondary gravel road to the site. The property was acquired in October 2005, dewatering and rehabilitation of the mine commenced in January 2006. To date, Nippon Dragon has invested approximately $37,000,000 in rehabilitating the property, surface and underground infrastructure, diamond drilling, equipment and drifting. The property includes a 100m deep two compartment shaft, an 844 metre decline allowing access to five levels (50, 70, 90,110 and 130 metres). On these levels a total of 1700 metres (drifts and cross-cut drifts) were driven. The Rocmec 1 mineralized bodies are well defined by diamond drill holes. The 2010 NI 43-101 report by SGS using a cut-off grade of 3 g/t Au reports a Measured and Indicated mineral resources of 570,300 tonnes grading 6.52 g/t (119 500 oz.) and 1,512,400 tonnes Inferred at 7.4 g/t Au (359 600 oz.). Additionally, Goldminds Geoservices Inc. recently prepared a geological report on the Boucher structure stating an additional potential tonnage target (*) of 400Kt to 500Kt at a grade between 7 g/t to 15 g/t Au can be expected for a metal content.. The report is a complement to the existing NI43-101 compliant Technical Report on the Rocmec 1 property (SGS May 13th 2010).
Click on the link to view the report http://www.nippondragon.com/images/Memo_Boucher2020_0407.pdf
*Cautionary statement: Potential Target are not mineral resources as additional exploratory works are required to bring the information to the mineral resource level of confidence.
About Nippon
Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation holds two gold properties, Rocmec 1 with resources recognised in accordance with NI43-101 and the Denain property. Nippon also has an exclusive license for the Thermal Fragmentation mining method.
Le present communique est disponible en francais site web de Ressources Nippon Dragon
The company's growth strategy is based on:
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- The development of its gold deposits with the objective of producing revenue from its operations;
- Increasing the value of its mining assets by prioritizing the exploration targets; and
- The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations (514) 718-7976 jstella@nippondragon.com
Donald Brisebois, President & CEO (450) 510-4442 dbrisebois@nippondragon.com
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. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Nippon Dragon Resources Inc.
7055 Taschereau Blvd., suite 500
Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442
www.nippondragon.com