NioGold Mining Corp. (TSX-V: NOX) (OTCQX: NOXGF) (“NioGold”) is pleased to release key results of the final series of diamond drill holes of the definition program on the modelled open pit shell of the Marban deposit, located on NioGold’s 100% owned Marban Block property in the Malartic Gold camp, Abitibi District, Québec.
Drilling highlights from this set of holes include:
- 1.55 g/t Au over 27.2 m in drill hole MB-15-527 at 170 m vertical depth.
- 56.45 g/t Au over 1.0 m in drill hole MB-15-534 at 130 m vertical depth.
- 2.03 g/t Au over 66.6 m in drill hole MB-15-542 at 240 m vertical depth.
- 7.18 g/t Au over 5.8 m in drill hole MB-15-549 at 225 m vertical depth.
- 8.83 g/t Au over 17.6 m including 70.55 g/t Au over 1.2 m and 42.65 g/t Au over 1.1 m in drill hole MB-15-561 at 175 m vertical depth.
- 1.63 g/t Au over 31.7 m in drill hole MB-15-561 at 210 m vertical depth.
- 50.37 g/t Au over 1.2 m in drill hole MB-15-562 at 75 m vertical depth.
- 3.98 g/t Au over 10.5 m in drill hole MB-15-567 at 220 m vertical depth.
- 56.09 g/t Au over 1.2 m in drill hole MB-15-572 at 155 m vertical depth.
- 2.50 g/t Au over 18.6 m in drill hole MB-15-580 at 250 m vertical depth.
Robert Wares, NioGold’s President and CEO, stated: “This final set of excellent results concludes our definition drilling campaign on Marban. The program included more than 72,000 metres of drilling and the Marban deposit delivered many new intersections in previously modelled barren rock. The drill program hence significantly improved the open pit potential of the deposit.”
The drilling campaign totalled 72,672 metres distributed in 246 holes and one extension of a hole from a previous campaign. The following table contains only the best results with a metal factor (length multiplied by the grade) above 20 for the drill holes MB-15-521 to MB-15-587 and the extension of the drill hole MB-06-026. The intercepts labelled “New” should allow for the definition of new lenses:
Marban Block Best Results (right click. open hyperlink)
A longitudinal showing the new best results obtained on the Marban deposit is available at:
Marban Deposit Longitudinal Section (right click. open hyperlink)
Updated modelling of the geological units and mineralized zones at Marban is progressing at a satisfactory pace. Although the initial target date for the resource update on Marban was slated for end of 2015, this has been pushed forward to mid-February 2016 to include all new mineralized zones at Marban. Furthermore, management has decided to include the Kierens and Norlartic deposits in this update. The latter will include results from 2014 drilling as well as results from core re-assaying program completed in the fall of 2015.
Technical Info. QA/QC and Qualified Persons
Drill orientations are roughly perpendicular to dip of mineralized zones and true widths of mineralized zones represent minimum 90% of reported core intervals.
Diamond drill holes were drilled with NQ-size core, except for holes that traversed underground workings which were completed using BQ-size core. The core was sealed and delivered by the drilling contractor to NioGold’s facilities located at the Norlartic mine site. The core was photo-graphed for reference, logged and mineralised sections were sawed in half. Sample lengths vary between 0.5 to 1.5 metres. Half core samples were bagged, sealed and delivered to Actlabs in Ste-Germaine Boulé, Québec, which is an accredited laboratory. The remaining core is stored on site for reference. Samples were assayed by the fire-assay method using an atomic absorption finish on a 50-gram pulp split. A quality assurance and quality control program (QA/QC) was implemented by NioGold and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards, blanks and field duplicates in the sample batches sent to the laboratory and a systematic re-assaying of samples returning values above 3 g/t Au by fire-assay using a gravimetric finish. As well, pulps grading above 0.5 g/t Au or mineralized intervals are sent to a second laboratory for check assaying.
Drill program design and monitoring, core logging and sample preparation are being executed at NioGold’s facilities in Val d’Or, under the supervision of Yan Ducharme. M.Sc., P.Geo. (OGQ). NioGold’s Vice-President Exploration and a Qualified Person as defined by National Instrument 43-101. QA/QC program utilized is consistent with NI 43-101 and industry best practice standards. This news release was prepared by Mr. Ducharme.
NioGold Mining Corp. – « On Canada’s Golden Highway »
NioGold Mining Corp. is a mineral exploration and development company focused on gold. The Company’s projects are located in the heart of Québec’s prolific Abitibi gold mining district. The Cadillac, Malartic and Val-d’Or mining camps in this district have produced over 45 million ounces of gold since the 1930’s and presently encompass six producing gold mines, including the prolific Canadian Malartic mine located adjacent to NioGold’s flagship Marban project. NioGold’s land holdings within the Abitibi presently cover 125km2 and encompass seven former gold producers, notably the Norlartic, Kierens, Marban and Malartic Hygrade mines that collectively produced 630,000 ounces of gold.
NioGold’s experienced and qualified technical team are overseeing the advancement of these projects, targeting expansion of the resource base and reserve definition of the Marban Block project.
NioGold invites you to visit the company website at www.niogold.com.
For information on NioGold Mining Corporation contact:
Tel: (604) 856-9887 Tel: (604) 510-4505 Tel: (514) 667-2304
Toll-free: (877) 642-6200
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release includes “forward looking statements”, as that term is defined in Section 27A of the Unites States Securities Act of 1933, as amended, and Section 21E of the United States Exchange Act of 1934, as amended, that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company’s intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company’s future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.
Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. Except as required by law, the Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.
CAUTIONARY NOTE TO U.S. INVESTORS
The United States Securities and Exchange Commission (the “SEC”) permits U.S. mining companies, in their filings with the SEC. to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company may use certain terms in this news release, such as ‘measured resources’, ‘indicated resources’ and ‘inferred resources’. which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. The news release may contain information about adjacent properties on which the Company has no right to explore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative of mineral deposits on the Company’s properties.
SOURCE: NioGold Mining Corp.
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