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Noble Minerals Announces Drilling Results from Noble Minerals-Canada Nickel Joint Venture

V.NOB

(TheNewswire)

Noble Mineral Exploration Inc.

Highlights

  • Drill Program completed on the Mann and Reaume Properties, part of the Noble Minerals-Canada Nickel Joint Venture (ExploreCo)

  • Mann Central Property: Drill results include 223 meters of 0.29% nickel including 10 meters of 0.51% nickel

  • Mann West Property: Drilling successfully delineated mineralization over a 1,700 meter strike length and 600 meters width

  • First assays from 2024 drilling at Mann West yield excellent results including 330 metres of 0.26% nickel in MAN24-58 including a total of 24.5 metres of 0.35% nickel; initial resource estimate expected by Q1 2025

  • Multiple gold intervals in Mann North drilling including 4.5 metres of 2.36 g/t gold within 45 metres of 0.45 g/t gold at MAN24-67

  • Reaume Property: Drilling indicated an improved nickel grade

Toronto, Ontario – TheNewswire - October 31, 2024 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce results of a drill program on joint venture properties (ExploreCo) north of Timmins Ontario (See Canada Nickel Press Release dated October 31, 2024).

ExploreCo, the name of which will be announced in due course, will control 1,989 mining claims totaling approximately 42,000 hectares and will include nickel properties in Mann, Newmarket, and Reaume Townships as well as Calder, Galna, McCool, Moody, Mortimer, Stimson, and other properties currently held by Canada Nickel (see Figure 1, ExploreCo properties shown in purple).


Click Image To View Full Size

Figure 1 - Regional Map of ExploreCo Properties (purple)

Under the Binding Letter of Intent, the first $5 million of funding for ExploreCo will be provided from existing funds by Canada Nickel, after which costs will be funded by pro rata ownership basis, which will initially be 80% Canada Nickel and 20% Noble. Canada Nickel and Noble will continue to maintain their existing royalty rights on the ExploreCo claims, as will previous claim owners who had vended claims to Noble. (see NR July 8, 2024)

Mann Property

The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane. The Company has completed a drill program in three of the four identified areas within the property, Mann North, Mann West (together formerly Mann Northwest), and Central. (Figure 2). Exploration at Mann South is currently underway. Canada Nickel currently owns 80% of the Mann Property after successfully completing an earlier earn-in agreement with Noble Mineral Exploration. This property is part of the creation of an 'ExploreCo' subsidiary with Noble Mineral Exploration (see press release July 8, 2024) with Noble owning the other 20%.

Figure 2 – Mann Property


Click Image To View Full Size

Mann West

Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program has focused on the southern half of the target with drilling completed over a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled 40 holes to date at Mann West (Figure 3), 31 of which were drilled during the 2024 program. With this drilling, the Company has completed the first phase of exploration that is required for an initial resource estimate expected by Q1 2025. Assays from nine holes are presented in this release, with the remaining holes at Mann West still pending.

Table 2 – Mann West drilling highlights.

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

MANN WEST

MAN24-33

11.2

396.0

384.8

0.24

0.011

0.009

0.008

0.35

6.48

0.028

including

174.0

183.0

9.0

0.30

0.014

0.018

0.011

0.18

6.34

0.100

MAN24-37

8.7

180.0

171.3

0.26

0.011

0.005

0.006

0.15

6.04

0.037

and

236.4

402.0

165.6

0.26

0.012

0.008

0.007

0.24

6.26

0.071

including

267.0

273.0

6.0

0.37

0.013

0.004

0.005

0.30

7.73

0.100

and

361.5

369.0

7.5

0.38

0.013

0.078

0.043

0.18

6.35

0.162

MAN24-45

6.2

402.0

395.8

0.24

0.013

0.016

0.010

0.39

6.60

0.235

including

136.5

144.0

7.5

0.30

0.014

0.044

0.015

0.75

6.99

0.086

MAN24-49

5.4

198.2

192.8

0.19

0.013

0.029

0.017

0.41

7.44

0.081

and

221.6

402.0

180.4

0.21

0.011

0.003

0.006

0.42

6.69

0.033

MAN24-54

49.5

192.8

143.3

0.26

0.011

0.003

0.003

0.13

5.80

0.045

and

216.5

402.0

185.5

0.27

0.012

0.012

0.007

0.28

6.22

0.029

including

268.5

277.5

9.0

0.48

0.019

0.003

0.003

0.62

7.86

0.015

MAN24-58

21.0

351.0

330.0

0.26

0.013

0.015

0.007

0.24

6.51

0.076

including

193.5

204.5

11.0

0.35

0.015

0.023

0.009

0.44

6.86

0.110

and

307.5

321.0

13.5

0.36

0.016

0.040

0.018

0.19

7.17

0.130

MAN24-62

8.6

501.0

492.4

0.18

0.014

0.041

0.026

0.31

7.88

0.047

MAN24-69

7.2

229.5

222.3

0.19

0.013

0.022

0.015

0.38

7.35

0.054

and

264.0

491.0

227.0

0.19

0.013

0.004

0.005

0.41

7.35

0.023

MAN24-71

23.5

260.5

237.0

0.27

0.012

0.011

0.009

0.25

6.29

0.082

including

63.0

108.0

45.0

0.37

0.013

0.036

0.018

0.15

5.77

0.196

and

302.2

501.0

198.8

0.17

0.012

0.014

0.032

0.36

7.56

0.027

*True width undetermined. All lengths are drillhole lengths.

Figure 3 – Mann West


Click Image To View Full Size

Mann Central

The outline of the ultramafic body at Mann Central is estimated by magnetics to be 4.5 kilometres long and between 0.5 to 1.0 kilometres wide (or 3.1 square kilometres). Drilling at this target was completed during the spring/summer of 2024 and now totals 32 drillholes and 11,853 metres. Mineralization is more consistent near the center of the target over an area of 1.9 kilometres by 600 metres (1.1 square kilometres). This release provides an update for 13 drillholes (Table 3), all of which intersected varying degrees of mineralized peridotite with minor pyroxenite dykes.

Mafic volcanics with abundant sulphide mineralization in the north contact were intersected in eight holes including MAN24-32 which yielded 3.3 metres of 1.03% nickel, 0.31% cobalt, and 0.57 % copper. Assays are still pending for 10 drillholes and the results from nine drillholes were previously released (see press release September 10, 2024).

Table 3 – Mann Central drilling highlights.

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

MAN24-19

3.0

304.0

301.0

0.18

0.012

0.008

0.006

0.42

7.36

0.037

and

384.0

396.8

12.8

0.18

0.010

0.003

0.008

0.33

6.29

0.083

MAN24-22

9.0

552.0

543.0

0.24

0.012

0.005

0.006

0.17

5.90

0.057

Including

195.0

207.0

12.0

0.29

0.013

0.022

0.008

0.14

5.66

0.082

MAN24-26

12.0

55.5

43.0

0.25

0.011

0.003

0.008

0.18

5.85

0.101

and

100.5

399.0

298.5

0.23

0.011

0.004

0.003

0.16

6.22

0.052

MAN24-32

90.0

402.0

312.0

0.21

0.015

0.004

0.004

0.27

6.42

0.121

including

96.0

99.3

3.3

1.03

0.308

0.026

0.013

0.14

19.78

4.840

MAN24-34

75.0

259.0

184.0

0.22

0.011

0.008

0.008

0.31

6.79

0.044

and

297.0

402.0

105.0

0.24

0.011

0.007

0.008

0.22

5.97

0.080

MAN24-35

25.2

144.3

119.1

0.22

0.012

0.003

0.004

0.24

6.74

0.051

and

161.0

387.0

226.0

0.18

0.013

0.005

0.006

0.40

7.39

0.030

MAN24-39

97.5

171.0

73.5

0.19

0.011

0.007

0.007

0.45

7.28

0.049

MAN24-40

103.3

153.0

49.7

0.24

0.012

0.004

0.004

0.26

6.10

0.071

and

141.0

396.0

255.0

0.21

0.012

0.005

0.005

0.41

7.05

0.031

MAN24-43

76.7

182.4

105.7

0.22

0.012

0.005

0.006

0.22

6.37

0.114

and

205.4

402.0

196.6

0.23

0.012

0.003

0.005

0.38

6.56

0.033

MAN24-44

43.0

186.7

143.7

0.21

0.011

0.004

0.004

0.30

6.65

0.029

and

195.0

402.0

207.0

0.19

0.013

0.005

0.007

0.415

7.176

0.030

MAN24-52

11.4

46.7

35.3

0.31

0.037

0.003

0.006

0.169

5.794

0.176

and

73.0

400.0

327.0

0.20

0.013

0.004

0.005

0.390

6.779

0.028

MAN24-56B

45.0

402.0

357.0

0.20

0.013

0.003

0.005

0.411

7.126

0.022

MAN24-60

31.9

241.2

209.3

0.20

0.013

0.007

0.007

0.369

6.920

0.060

and

277.5

310.9

33.4

0.26

0.015

0.003

0.004

0.055

8.981

0.057

*True width undetermined. All lengths are drillhole lengths.

Figure 4 – Mann Central


Click Image To View Full Size

Mann North

The Mann North target is approximately 1.5 kilometres long by 600 metres wide (0.9 square kilometres) (Figure 4). Drilling was completed during the summer of 2024 and consisted of a preliminary exploratory phase of 16 drillholes totaling 6,315 metres. The majority of these holes intersected long sections of peridotite, with minor dunite (Table 4) with nickel grades in the peridotite consistent with Crawford. The peridotites, however, have anomalous values of platinum (Pt) and palladium (Pd) over significant intervals, as seen on Table 5. Hole MAN24-31, for example, intersected 12.7 metres of 0.58 g/t Pt+Pd and MAN24-50 intersected 16.7 metres of 0.50 g/t Pt+Pd.

In addition to the anomalous Pt and Pd, the ultramafic units at Mann also have higher values for gold, especially near certain contacts. The intersections can be high grade and narrow such as in MAN23-12 which intersected 4.93 g/t gold over 1.5 metres or can be thicker and lower grade such as in MAN24-67 which intersected 0.45 g/t gold over 45.0 metres. Nine of 15 of the drillholes at Mann North assayed to date include gold intersections of 0.4 g/t gold or higher. Significant intersections are summarized in Table 6.

Assays are pending for three remaining holes.

Table 4 – Mann North drilling highlights

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

MAN24-24

39.0

109.5

70.5

0.15

0.010

0.004

0.003

0.43

6.77

0.061

MAN24-31

28.4

519.0

490.6

0.18

0.012

0.013

0.022

0.38

6.88

0.061

including

57.0

72.0

15.0

0.30

0.014

0.044

0.024

0.28

6.47

0.280

MAN24-36

21.0

408.0

387.0

0.21

0.012

0.012

0.010

0.50

6.93

0.063

MAN24-46

18.8

312.5

293.7

0.17

0.012

0.005

0.007

0.40

7.54

0.028

and

327.9

399.0

71.1

0.17

0.014

0.012

0.008

0.39

8.25

0.057

MAN24-47

18.0

402.0

384

0.18

0.012

0.006

0.008

0.48

7.36

0.035

MAN24-50

21.5

280.6

259.1

0.15

0.012

0.004

0.005

0.45

7.54

0.024

and

313.5

390.0

76.5

0.18

0.013

0.010

0.011

0.41

7.29

0.051

MAN24-51

45.0

171.0

126

0.16

0.013

0.008

0.010

0.44

7.76

0.030

and

196.0

402.0

206

0.16

0.012

0.005

0.005

0.34

7.25

0.032

MAN24-53

15.0

402.0

387

0.11

0.012

0.007

0.010

0.33

8.07

0.032

MAN24-55

17.4

177.8

160.4

0.18

0.013

0.005

0.005

0.53

7.56

0.046

and

352.5

402.0

49.5

0.19

0.012

0.007

0.017

0.36

6.67

0.039

MAN24-59

31.5

402.0

370.5

0.15

0.012

0.010

0.011

0.38

7.19

0.044

MAN24-63

132.5

267.0

134.5

0.20

0.012

0.019

0.016

0.38

7.34

0.072

including

142.5

156.0

13.5

0.34

0.012

0.060

0.031

0.14

7.20

0.020

and

311.2

462.0

150.8

0.18

0.012

0.005

0.006

0.43

7.20

0.024

MAN24-67

15.6

420.0

404.4

0.15

0.012

0.025

0.021

0.36

7.72

0.039

including

327.0

348.0

21.0

0.23

0.013

0.081

0.043

0.55

7.79

0.141

Table 5 – Mann Properties PGM Highlights

Hole ID

From

(m)

To

(m)

Length

(m)

Pt+Pd

(g/t)

Pd

g/t)

Pt

(g/t)

Ni

(%)

Co

(%)

Cr

(%)

Fe

(%)

S

(%)

MAN24-49

201.0

219.0

18.0

0.51

0.30

0.21

0.04

0.007

0.37

4.58

0.021

MAN24-62

309

327

18.0

0.44

0.31

0.13

0.18

0.015

0.49

8.11

0.054

MAN24-35

390.0

402.0

12.0

0.33

0.11

0.22

0.06

0.011

0.48

7.49

0.014

MAN24-60

242.1

265.5

23.4

0.43

0.25

0.18

0.03

0.007

0.36

5.01

0.014

and

345.0

360.0

15.0

0.42

0.26

0.16

0.03

0.007

0.34

5.41

0.015

MAN24-69

238.0

255.0

17.0

0.45

0.26

0.19

0.04

0.007

0.39

4.76

0.013

MAN24-31

118.5

131.2

12.7

0.58

0.22

0.36

0.03

0.007

0.28

4.55

0.012

MAN24-38

125.0

138.0

13.0

0.32

0.21

0.11

0.02

0.007

0.28

6.79

0.024

and

285.0

292.6

7.6

0.47

0.21

0.26

0.05

0.011

0.29

6.21

0.013

and

382.5

396.2

13.7

0.39

0.18

0.21

0.05

0.012

0.36

5.64

0.018

MAN24-46

312.5

327.9

15.4

0.46

0.24

0.22

0.04

0.008

0.37

5.33

0.008

MAN24-50

280.6

297.3

16.7

0.50

0.33

0.17

0.03

0.007

0.38

5.07

0.011

MAN24-51

171.0

186.0

15.0

0.31

0.20

0.12

0.02

0.007

0.27

6.74

0.042

MAN24-55

288.0

337.0

49.0

0.33

0.17

0.17

0.02

0.007

0.25

6.33

0.038

MAN24-63

292.5

303.0

10.5

0.33

0.21

0.12

0.02

0.007

0.27

6.97

0.019

Figure 5 – Mann North


Click Image To View Full Size

Figure 6 – Mann North Gold Highlights


Click Image To View Full Size

Table 6 – Mann Properties Gold Highlights

Hole ID

From

(m)

To

(m)

Length

(m)

Au

(g/t)

MAN24-19

382.5

384.0

1.5

0.40

MAN24-24

52.5

67.5

15.0

0.32

MAN24-31

57.0

58.5

1.5

0.41

MAN24-36

348.0

354.0

6.0

0.60

including

348.0

349.5

1.5

1.58

MAN24-51

289.5

304.5

15.0

0.36

Including

300.0

301.5

1.5

1.06

MAN24-55

396.0

399.0

3.0

0.36

MAN24-59

139.5

141.0

1.5

0.51

and

274.5

276.0

1.5

0.98

MAN24-67

115.5

160.5

45.0

0.45

including

118.5

121.5

3.0

1.15

and

147.0

151.5

4.5

2.36

Reaume

The Reaume property is located 20 kilometres northeast of Crawford, 15 kilometres southwest of Cochrane, and 55 kilometres northeast of Timmins. The property will form part of the ExploreCo subsidiary assets with Noble on an 80%-20% (Canada Nickel-Noble) ownership basis. Prior drill campaigns in 2022 had seasonal access constraints, however, in June 2024, the Company resumed exploration and intersected a mineralized portion of the ultramafic body consisting of moderate to strongly serpentinized peridotite containing spotty, coarse-grained awaruite mineralization in hole REU24-12 (Figure 7). This release contains the results of three drillholes at Reaume with assay results pending on two remaining holes.

Table 7– Reaume drilling highlights.

Hole ID

From (m)

To (m)

Length (m)*

Ni %

Co %

Pd g/t

Pt g/t

Cr %

Fe %

S %

REU24-11

36.0

501.0

465

0.19

0.012

0.004

0.005

0.623

7.403

0.020

REU24-12

40.3

561.0

520.7

0.19

0.013

0.003

0.006

0.588

7.375

0.026

Including

330.0

375.0

45

0.24

0.012

0.004

0.005

0.262

6.818

0.017

REU24-14

18.0

40.5

22.5

0.23

0.015

0.005

0.003

0.403

7.743

0.047

and

86.3

119.0

32.7

0.03

0.007

0.189

0.159

0.313

6.063

0.015

and

147.0

402.0

255

0.18

0.013

0.009

0.013

0.543

7.880

0.037

including

303.0

307.5

4.5

0.44

0.018

0.067

0.047

0.680

8.723

0.130

*True width undetermined. All lengths are drillhole lengths.

Table 8 Reaume PGM Highlights

Hole ID

From

(m)

To

(m)

Length

(m)

Pt+Pd

(g/t)

Pd

g/t)

Pt

(g/t)

Ni

(%)

Co

(%)

Cr

(%)

Fe

(%)

S

(%)

REU24-14

86.3

119.0

32.7

0.35

0.19

0.16

0.025

0.007

0.31

6.06

0.015

including

100.5

105.0

4.5

0.67

0.43

0.24

0.022

0.006

0.33

5.56

0.012

Figure 7 – Reaume


Click Image To View Full Size

Table 9: Drillhole Orientation

Hole ID

Easting (mE)

Northing (mN)

Azimuth (°)

Dip (°)

Length (m)

REID

REI24-41

457554

5404310

0

-60

706

REI24-43

457350

5404200

70

-60

696

REI24-45

457859

5403898

90

-60

668

REI24-46

456306

5404370

180

-50

702

REI24-47

457765

5404100

90

-60

702

REI24-48

456860

5404060

180

-55

702

REI24-50

457817

5404256

90

-60

600

REI24-52

457350

5404200

180

-60

759

MANN WEST

MAN24-33

496260

5412289

35

-50

396

MAN24-37

496144

5412134

35

-50

402

MAN24-45

495656

5412189

40

-50

402

MAN24-49

495656

5412189

230

-50

402

MAN24-54

495796

5412336

40

-50

402

MAN24-58

495641

5412486

40

-65

351

MAN24-62

495296

5412441

50

-50

501

MANN CENTRAL

MAN24-19

496800

5410400

0

-50

397

MAN24-22

498724

5410530

350

-50

552

MAN24-26

498360

5410370

0

-50

399

MAN24-32

498466

5410751

180

-50

402

MAN24-34

498970

5410764

165

-50

402

MAN24-35

497509

5410702

180

-50

402

MAN24-39

498466

5410751

215

-55

171

MAN24-40

497698

5410729

180

-50

396

MAN24-43

498265

5410644

180

-50

402

MAN24-44

497880

5410638

180

-50

402

MAN24-52

498450

5410430

180

-50

400

MAN24-56B

498260

5410430

180

-50

402

MAN24-60

498445

5410230

180

-50

360

MANN NORTH

MAN24-24

496342

5414290

20

-50

237

MAN24-31

497243

5413464

20

-50

519

MAN24-36

497022

5413872

20

-50

408

MAN24-46

497195

5413805

200

-50

402

MAN24-47

497340

5413730

20

-50

402

MAN24-50

497552

5413697

200

-50

402

MAN24-51

497277

5414004

200

-50

402

MAN24-53

497727

5413538

20

-50

402

MAN24-55

496866

5413943

20

-50

402

MAN24-59

496917

5414076

20

-50

402

MAN24-67

496599

5414301

20

-50

420

REAUME

REU24-11

488435

5422086

90

-50

501

REU24-12

488424

5421854

90

-50

561

REU24-14

488077

5422433

45

-50

402

Quality Assurance and Control, Drilling and Assaying

Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by National Instrument 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. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby or SGS Callao (Peru). All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.

Qualified Person and Data Verification

Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and 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 Canada Nickel Company Inc.

Wayne Holmstead P.Geo (ON), a "qualified person" as defined by National Instrument 43-101, has reviewed 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., Homeland Nickel Inc., Go Metals Corp. and Lode Gold Resources Inc., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20% interest in ~11,000 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. 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: ir@noblemineralexploration.com

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