Exploration
Update:
Noble
Acquires Graphite Claims in Northern Quebec
Toronto,
Ontario – June 21, 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
entered into an agreement to acquire the Buckingham graphite
property, which is located in
the Outaouais
region of Western Québec, and to engage Wayne Holmstead as the Company's Exploration
Manager. Pursuant to the agreement that was signed between
the parties, when Noble completes the acquisition of the Buckingham
graphite property from Mr. Holmstead, the Company would also sign a
consulting agreement for Mr. Holmstead to begin serving as Noble's
Exploration Manager.
Wayne Holmstead
(B.Sc, P.Geo) brings Noble Mineral Exploration 40+ years of
exploration experience in Ontario and Quebec. He is a P.Geo
who graduated from the University of Toronto. Holding
positions of President, Vice President Exploration, Exploration
Manager and Director for various Junior Mining companies over the
years and he has directed all aspects of
mineral exploration in Canada.
Selected
Accomplishments include:
Co-discovered and
arranged financing for the MacLeod Lake Cu Mo Au Ag deposit in
James Bay, Quebec. Later work outlined 18M tonnes of copper,
molybdenum, gold, and silver in the Main Zone.
Discovered the South Zone and Rocky Point
Zone at
Macleod Lake through Boulder Tracing and
Beep Mat Prospecting.
Generated and
Optioned Exploration Properties to:
Osisko (Troilus
North Gold)
Royal Nickel
(Qiqavik)
Beaufield Resources
(Troilus North and Kukames Gold)
SNET (Lac Fire
Lithium property)
X-Terra Resources
(Veroneau Gold Property)
UrbanGold Minerals
(Numerous properties)
Acquired claims in
the Troilus Area, Quebec for UrbanGold Minerals that led to the
recent takeover bid by Troilus Gold to the benefit of UrbanGold
shareholders.
Wayne uses advanced
computer and instrument technology combined with traditional
exploration methods to generate projects and new mineral
discoveries.
With the assistance
of Wayne, Noble Minerals has acquired the following Quebec
exploration properties for staking cost.
Buckingham
Graphite
The
Buckingham
graphite property
is located in the Outaouais area of the Grenville Subprovince of
Quebec.
The property
consists of 30 claims (1803 hectares) and contains 3 separate
graphite occurrences. The main occurrence (McGuire)
was worked by Stratmin Inc. in 1985-86
when a ground electromagnetic survey was done following a regional
airborne survey. Three diamond drill holes were completed to
intersect the electromagnetic anomalies, 2 of which intersected
graphite mineralization See Figure 1. The graphite was found
to be hosted by marble and gneissic rocks.
HoleGraphiteLength
86-4010.9%2.00m*
86-459.1%3.65m*
Hole 86-41 did not
intersect the electromagnetic anomaly. Additional visual
estimations of graphitic horizons were noted in the log
descriptions but were not analyzed for graphite.
HoleInterval(m)Width(m)Visual Graphite(Gp)
86-4011.3-12.951.65*10-15% Gp
86-4013.9-14.050.15*8-10% Gp
86-4018.25-18.750.50*5-10% Gp
86-4021.2-21.350.15*12-15% Gp
86-4021.6-21.950.35*10% Gp
86-4566.35-66.550.20*10-12% Gp
86-4567.65-68.100.45*3-6% Gp
* (True width not
known at this time)
Figure 1: Results
of Stratmin Electromagnetic Survey with Location of Diamond Drill
Holes
Although the nature
of the graphite on the Buckingham Property has not been determined,
graphite concurrences in this area are normally coarse grained,
flake graphite. This type of graphite is the most desirable
of the naturally occurring
types
that is used to
produce lithium-based batteries. Lithium-based batteries are
required for a variety of 'green'
technologies, including electric vehicles. The global demand for
these types of products is expected to rise as world governments
lean towards environmentally friendly products rather than
petroleum-based ones.
The second graphite
occurrence (Cummings) is described as a "deposit in the form of
narrow bands of graphite occurring in gneiss and marble over a
length of 300 m and a width of 30 m. The graphite occurs in several
irregular bands within the 30 m zone." The Cummings
Occurrence is located about 1.5 km southeast of the McGuire
Occurrence.
The third graphite
showing on the property is called the Robidoux Occurrence and is
located about 4 km east of the McGuire Occurrence. It was
described by the Quebec Superintendent of Mines in a 1910 report as
a "partially uncovered graphitic bed over a length of about forty
feet. Some shallow pits have also exposed graphitic outcrops,
presumably of the same bed, for an additional distance of 75 to 100
feet. The bed where exposed by the main stripping is about four
feet thick and dips into the side of a low hill at an angle of 40
to 50 degrees." It was also noted that "the graphite ore
contains over 30% carbon."
(Note: the
exploration work, descriptions and analysis are historic and not
43-101 compliant)
Work program on the
Buckingham Property will include a property visit with prospecting
to identify the existing showings and historic drill holes. A
beep mat will be used to identify new conductive zones that may
represent graphitic horizons.
The consideration
for the acquisition are the costs of staking and
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 Noble, as well
as to compliance with TSX Venture Exchange policies, securities
laws and regulations and other laws and regulations.
Vance White,
President and CEO of Noble, said "we are extremely pleased
to have Wayne join the Noble team and
to bring knowledge and understanding of projects in northern
Ontario and Quebec. The addition of the Buckingham Graphite project
adds in the search for viable projects related to the
ever-evolving
battery related industries in the search for a "greener" world. Following
Exchange approval, a budget and plan of exploration will be
developed."
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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