Noble Reports that Macdonald Mines has filed an NI 43-101 Technical Report On Noble's Wawa-Holdsworth Project on SEDAR
Quentin Yarie P. Geo, the President and CEO and a serving board member of MacDonald, prepared the report on behalf of the MacDonald. The technical report is available on SEDAR at www.sedar.com and MacDonald's website at www.macdonaldmines.com
REPORT HIGHLIGHTS
Historic work by previous operators defined three gold targets on the Wawa-Holdsworth Project:
- 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".
Based on the review of historic data available for the Property, the report concludes that there is potential to find additional gold mineralization and that additional exploration is warranted. Readers are cautioned that a qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves, and there are no current mineral resources or mineral reserves (within the meaning of such terms in NI 43-101) associated with the Wawa-Holdsworth Project. The summary of the Technical Report in this press release is qualified in its entirety by the full text of the report which is available on www.SEDAR.com under MacDonald's profile.
As advised under the Company's News Release of December 13, 2016, initial work by MacDonald on the Wawa-Holdsworth Property has led to:
- 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.
Results from the initial sampling program
The sampling and mapping program carried out by MacDonald 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 suggesting that the gold system at Wawa-Holdsworth is much larger than what previous exploration results have indicated
As earlier advised MacDonald's future exploration programs at Wawa-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. The property has year-long road access as well as easy access to other infrastructure including rail, road, electrical power, labour force and suppliers.
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 the Wawa Gold camp to prove up the economic potential of this property."
Qualified Person
Randy Singh BSc., PGeo(ON), PEng(ON) is a "qualified persons" as such term as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release on behalf of Noble Mineral Exploration Inc.
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:
Noble Mineral Exploration Inc.
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
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