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Noble Reports That Macdonald Mines Discovers a New Gold-Bearing Shear Zone on Noble's Wawa-Holdsworth Project

V.NOB

(TheNewswire)

GRAB SAMPLE RETURNED 5.36 G/T GOLD

Toronto, Ontario / TheNewswire / December 13, 2016 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) is pleased to announce that it has received results from MacDonald Mines Exploration Limited (“MacDonald”), for its ground sampling on Noble’s Wawa-Holdsworth Gold and Silver Project (“the Project”), located 25 kilometres northeast of Wawa, Ontario. The results reported by MacDonald are as follows:

 

“Highlights from the initial sampling program include:

 
  • -The discovery of a new gold-bearing shear zone next to the old CN railway line (image 1) sample containing 5.36 g/t gold; and

    -The Company has determined that the known gold mineralized zones at Wawa-Holdsworth are part of a 500-metres wide corridor with multiple zones of deformation and hydrothermal alteration that are considered favourable for gold mineralization.

 

Quentin Yarie, MacDonald’s President and CEO commented: “We are excited that with the limited time spent on the property since the announcement of the Option Agreement, our experience in the Wawa Gold Camp has led to the discovery of a gold-mineralized shear zone next to a railway line that has been used for decades. The observation of numerous deformation and alteration zones in a 500-metres wide corridor suggests that the gold system at Holdsworth is much larger than what previous exploration results indicate. Results to date are exciting and we are looking forward to further the development of this very promising project.”

Results from the initial sampling program

This sampling and mapping program led to the discovery of a gold-bearing shear zone located alongside the old CN railway in the southern part of the property. The discovered gold-bearing shear zone is formed close to the contact between a volcanic sequence and a composite porphyritic intrusion. This sampling and mapping program also indicates that the previously known zones of gold mineralization of the Wawa-Holdsworth Project are part of a much larger deformation and alteration corridor that is now defined over a width of 500 metres.

 

The main zones of gold mineralization of the Wawa-Holdsworth Project include:

  • -Lode Gold in traditional quartz veins, known as the "The Soocana Vein",

    -An oxidized cap at surface developed over a massive pyrite zone (Algoma Iron Formation) known as the "The Oxide Sands", and

    -The precursor to the Oxide Sands - a massive pyrite zone (Algoma Iron Formation) at depths, known as "The Massive Sulphide".

 

The identification of this large deformation and alteration corridor, which already hosts many zones of gold mineralization, indicate that the gold system is likely larger than what is indicated by previous exploration and that additional exploration may uncover additional zones of gold mineralization.

MacDonald's future exploration programs at Holdsworth will take full advantage of its technical team’s experience and expertise in the Wawa Gold Camp. This includes the use of forefront technologies like short wave infrared and portable XRF analyses that provide quantitative mineralogical and chemical indicators to evaluate the fertility and prospectivity of gold-bearing structures. The Company has also initiated a detailed review and re-interpretation of the existing exploration data on the property to pinpoint possible areas of gold mineralization that were missed in the past. This will help define the boundaries and size of the gold system present on the property, and guide future exploration programs.

 

Wawa-Holdsworth Project Details

The Project is comprised of 19 contiguous patented mining claims covering approximately 304 hectares. Sixteen of these are located in the extreme southern part of Corbiere Township and the remaining three extend into the northern part of Esquega Township, in the Wawa Area of Northern Ontario.

Qualified Person

Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.

 

About MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario, Canada. Previously focused on Copper and Zinc (VMS), and Nickel exploration in the Ring of Fire area of the James Bay Lowlands of Northern Ontario, the company is now focusing its efforts and finances on projects that demonstrate the greatest market potential for return.  

 

The Company's common shares trade on the TSX Venture Exchange under the symbol "BMK". “

 

To learn more about MacDonald Mines, please visit www.macdonaldmines.com 

 

Vance White, President and CEO of Noble commented: “We are very pleased that MacDonald is so aggressive on what we believe to be a tremendously exciting Gold and Silver Project having potential for near term cash flow. We are very confident in the abilities of the MacDonald geological team and their extensive knowledge of this camp to prove up the economic potential of this property.”

 

About Noble Mineral Exploration Inc.:

 

Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 70,641 hectares of mineral rights in the Timmins - Cochrane areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan. More detailed information is available on the website at www.noblemineralexploration.com.

 

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

Copyright (c) 2016 TheNewswire - All rights reserved.



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