Project 81: Exploration Update - Crawford Ni-Co Sulphide Project - Canada Nickel Announces Maiden Resource

(via TheNewswire)

Toronto, Ontario - TheNewswire - March 02, 2020 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) Noble is pleased to announce that Canada Nickel Company Inc. ("Canada Nickel") has issued a news release dated February 28, 2020, with a number of Resource and Drilling Highlights, including the Maiden Resource Estimate and Current Drilling Results. Noble is pleased to reiterate the significance of these results for a Ni-Co-PGE Sulphide Project, that sits on a major paved highway and within 12 km of an existing mine and milling complex, in close proximity to rail, power and mining personnel in a mining friendly jurisdiction, with MOU with the first Nation Communities within the area.

The Crawford Ni-Co-PGE Sulphide Project lies within -the Noble Project 81 area and is underlain by the Kidd-Munro assemblage of the western Abitibi sub-province, which is one of the most ultramafic-rich volcanic successions and an important example of a bimodal mafic to ultramafic volcanic associated succession, of any age in the world, which hosts the giant Kidd Creek VMS deposit and now the Crawford Ni-Co-PGE Sulphide Deposit. Noble believes that Project 81 hosts a number of similar Ni-Co bodies similar to the Crawford deposit and the Kingsmill deposit.

The main Crawford Ni-Co Sulphide mineralized body has only been tested over a strike length of 1.74km out of a potential 8.0km anomaly. There are two (2) additional potentially mineralized bodies to the immediate east and to the north of the main anomaly (Figure 1).

Resource & Drilling Highlights:

• - Maiden resource with higher grade core of measured and indicated resource of approximately 263 million tonnes at 0.31% nickel, 0.013% cobalt, and 0.038 g/t Pd + Pt within an overall measured and indicated resource of approximately 600 million tonnes at 0.25% nickel, and 0.013% cobalt, and an additional higher grade inferred resource of approximately 66 million tonnes at 0.29% nickel and 0.013% cobalt within an overall inferred resource of approximately 310 million tonnes at 0.23% nickel and 0.013% cobalt.

  - Based on metrics utilized by Wood Mackenzie and SNL, the Crawford Nickel-Cobalt Sulphide Project already ranks as one of the largest 12 nickel sulphide resources globally according to WoodMac (Table 2).

  - All drill holes intersected multi-hundred metre mineralization with multiple intersection of 19 to 92 metres in excess of 0.40% nickel and 0.014% cobalt. Hole CR19-14A intersected 901 metres of mineralization with 0.31% nickel and extended mineralization to a depth of 850 metres (well below the current modelled resource bottom of 650 metres vertical).

  - Similar to other ultramafic hosted deposits where serpentinized waste rock and tailings have demonstrated the ability to capture CO2 which provides the potential for lower carbon footprint operation.

  - Significant potential to expand resources as drilling has only tested <20% of the overall Crawford structure and maiden resource remains open in multiple directions.

  • - The westernmost hole, CR19-22, continued with strong mineralization, highlighting additional potential at the Main anomaly and striking northwestward.

Maiden Resource Estimate:

A total of 13,042 metres of core drilling in 24 drill holes was utilized to calculate the Mineral Resources in the three categories as provided in Table 1 below, and specifically Measured + Indicated Resources of approximately 600 million tonnes grading 0.25% Ni and Inferred Resources of approximately 310 million tonnes grading 0.23% Ni. A cut-off grade of 0.15% Ni was used for the low-grade domain and 0.25% Ni for the higher-grade domain (Higher Grade Core) of the Mineral Resource Estimate. Example cross-section and block model views of the resource estimate are provided in Figure 2 and Figure 3 below.

This Mineral Resource Estimate was prepared by Caracle Creek International Consulting Inc. in accordance with CIM Definition Standards on Mineral Resources and Reserves. A Technical Report in support of the Mineral Resource Estimate will be filed on SEDAR (www.sedar.com) within 45 days. The Mineral Resource Estimate is effective as of February 27, 2020.

Table 1 - Maiden Mineral Resource Estimate for the Crawford Nickel-Cobalt Sulphide Project, Ontario

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Table 1 - Maiden Mineral Resource Estimate for the Crawford Nickel-Cobalt Sulphide Project, Ontario

1. 1.The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Luis Oviedo, P.Geo. (Chilean Mining Commission: RM, CMC #013), of Caracle Creek International Consulting Inc. and Atticus Chile S.A. The effective date of the Mineral Resource Estimate is February 27, 2020.

2. 2.These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured, however it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

3. 3.A cut-off grade of 0.15% Ni was used for the low-grade domain and 0.25% Ni for the high-grade domain of the Mineral Resource Estimate, both determined on the basis of core assay geostatistics for the deposit and by comparison to analogous deposit types.

4. 4.Geological and block models for the Mineral Resource Estimate used data from 24 surface drill holes completed by Spruce Ridge Resources (4 holes in 2018) and Noble Mineral Exploration and Canada Nickel Company (20 holes in 2019-2020). The drill database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by CNC and by comparison of umpire assays performed at a second laboratory.

5. 5.The geological model as applied to the Mineral Resource Estimate comprises two mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively high-grade core (largely dunite) and a lower grade envelope (largely peridotite). Individual wireframes were created for each domain.

6. 6.The block model was prepared using Micromine 2020. A 20 m x 20 m x 15 m block model was created and samples were composited at 3 m intervals. Grade estimation from drill hole data was carried out for Ni and Co using the Ordinary Kriging interpolation method and Pt and Pd using Inverse Distance Cubed method.

7. 7.Grade estimation was validated by comparison of input and output statistics (nearest neighbour and inverse distance cubed), swath plot analysis, and by manual inspection of the assay data, block model, and grade shells in cross-sections.

8. 8.An average bulk density value for the ultramafic unit was calculated on the basis of 2,738 specific gravity measurements collected during the core logging process. Blocks within the high-grade and low-grade portions of the resource model were assigned a single bulk density value of 2.65 g/cm3 (t/m3).

9. 9.Estimates in Table 1 have been rounded to two significant figures.

10. 10.CIM Definition Standards for Mineral Resources and Reserves (May 10, 2014) have been followed.

Table 2 - Ranking of Largest Resource Nickel Projects worldwide.

1. (1)Measured & Indicated resource only. All other comparators are based on total resources (measured, indicated, and inferred)

Figure 1. Crawford Ni-Co Deposit - location, infrastructure and mineralized body

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Figure 2. Plan View of the drill tested section of the Mineralized Body

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Fig 3. Crawford Ni-Co Sulphide Deposit showing Mineralized Grade Modelling

Assays, Quality Assurance/Quality Control and Drilling and Assay Procedures

William E. MacRae, MSc, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. Samples are bagged with QA/QC samples inserted in batches of 35 samples per lot. Samples are transported in secure bags directly from the Canada Nickel core shack to Actlabs Timmins, an ISO/IEC 17025 accredited lab. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and 17 other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of one QA/QC sample per 32 core samples making a batch of 35 samples that are submitted for analysis

Randy S.C. Singh P.Geo (ON), P.Eng (ON) VP- Exploration & Project Development 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 Mineral Exploration Inc.

Vance White President and CEO stated that "we are very pleased and congratulate the Canada Nickel team for getting the Crawford Nickel-Cobalt project to this stage therefore directly benefiting the Noble shareholders directly from the spin out of the Canada Nickel. The Noble shareholders will also benefit from the Canada Nickel team's expertise in the nickel industry. We strongly feel that we are only now just scratching the surface of Project 81 potential and that the VMS and Gold potential of the project are equally exciting."

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel provides investors with leverage to nickel and cobalt in low political risk jurisdictions in a geopolitically stable jurisdiction Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp.

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, Spruce Ridge Resources Ltd. And MacDonald Mines Exploration Ltd. and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in excess of 78,500 hectares of mineral rights in the Timmins - Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts multiple diversified drill-ready gold, nickel-cobalt and base metal exploration 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:

Noble Mineral Exploration Inc.

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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