Exploration Update: Noble Acquires Cere Villebon Copper, Nickel, Cobalt, Platinum Group Property Near Val d'Or Quebec
June 24 2021 - 7:40AM
InvestorsHub NewsWire
Exploration
Update: Noble Acquires Cere Villebon Copper, Nickel, Cobalt,
Platinum Group Property Near Val d'Or Quebec
Toronto,
Ontario - June 24,
2021 -- InvestorsHub NewsWire -- Noble Mineral Exploration
Inc. ("Noble" or
the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that it
has acquired
the Cere Villebon property near Val d'Or, Quebec. The
property consists of 15 claims (483 hectares). The property
is road and power accessible, located only 4 kilometers east of
Highway 117, the highway that connects Montreal to Val
d'Or.
The Cere Villebon
property consists of pyrrhotite and chalcopyrite mineralization in
fracture fillings hosted by ultramafic rocks in the metamorphic
halo of the Freville Batholith. The copper, nickel, platinum
group mineralization is located in two zones, the North and the
South Zone (See Figures 1 and 2).
Drilling and
resource estimates done by the Groupe La Fosse Platinum Inc., in
1987, evaluated a historical resource of
421,840
tonnes grading 0.52% copper, 0.72 % nickel and 1.08 g/t combined
platinum-palladium (Groupe La Fosse Platinum Inc.,
1987 Annual Report). This estimate is historical in
nature, non-compliant to NI 43-101 Mineral Resources and
Mineral Reserves standards, and
therefore should not be relied upon. A Qualified Person has not
done sufficient work to classify the
historical estimate as current mineral resources, and these
estimates should
only be considered as an indication of the mineral potential of the
Property.
Diamond Drill Hole
FV-87-1 drilled by LaFosse Platinum in 1987 into the North Zone
intersected 27.38*
meters of
0.70% nickel, 0.68% copper, 0.23 g/t platinum, 0.64 g/t palladium
and 0.08 g/t gold including 7.65*
meters of
0.94% nickel, 1.02% copper (See Figure
1).
* Exact width not
known at this time.
Future work will
include a complete compilation of past drilling and a drill program
to verify past results and extend the two zones along strike and at
depth.
Figure 1: North
Mineralized Zone with historic drilling and geology.
Figure 2: South
Mineralized Zone with historic drilling and geology.
The consideration
for the acquisition are the costs of staking reserving to the
vendor a 2% NSR that will be subject to Noble's right to buyback
50% of the NSR for $1,000,000.
The Transactions
are subject to approval of the Board of Directors of each party
where applicable, as well as to TSX Venture Exchange approval and
to compliance with securities and other laws and
regulations.
Vance White,
President and CEO of Noble, said "We are extremely pleased to be
able to acquire this potentially valuable
asset. Based on historic (non-compliant NI 43-101 resource
estimates as stated above and at current commodity prices
the in-situ value would have a gross value that
could be considered economic. . . All historic drill holes were
drilled to a vertical depth of ~100m leaving the deposit open at
depth."
Michael Newbury
PEng (ON), 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.
About Noble Mineral
Exploration Inc.:
Noble Mineral Exploration Inc.
is a Canadian-based junior exploration company which, in addition
to its shareholdings in Canada Nickel Company Inc., Spruce Ridge
Resources Ltd. and MacDonald Mines Exploration Ltd., and its
interest in the Holdsworth gold exploration property in the Wawa,
Ontario area, holds approximately 72,000 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/VMS 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
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