Project 81: Exploration Update - Noble to Drill Dargavel Twp Gold Targets
Toronto, May 4, 2020 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) Noble is pleased to announce that it has contracted NPLH Inc., to commence an initial 1000m drill campaign on the Dargavel Township Gold Targets, which forms part of Project 81 and is located in Dargavel Township north of Timmins, Ontario, Canada. The program is designed to test approximately 6.5km strike length of a well-defined structural feature identified by Airborne Magnetic & Electromagnetic Surveys completed in 2012 and in follow-up orientation EM & Mag surveys in 2017. This structure was drill tested in the 1960's (Table1) and is located within a structurally complex setting and comprise of a series of volcanics and sediments wedge between two (2) large felsic intrusive bodies. (Figures 1 & 2). Noble believes that the historical drill holes, based on 1950's airborne surveys and the lack of GPS positioning at that time, did not test the best targets/anomalies within these structures.
| Target | Hole | From (metres) | To (metres) | Mineralized Zone (metres) | Grade (g/t) |
| T-85 | 25013 | 59.8 | 67.0 | 7.2 | 1.8 |
| Incl. | 60.9 | 61.4 | 0.5 | 5.31 | |
| Incl. | 65.6 | 67.0 | 1.4 | 3.06 | |
| 25016 | 90.8 | 91.4 | 0.6 | 0.4 | |
| T-40 | K85-4 | 226.0 | 228.0 | 2.0 | 1.2 |
Table 1. Historical Drill Results (non NI 43-101 compliant)
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Figure 1. Geology with historical drill hole Figure 2. Geophysical Trends and profiles.
The funding for this program is being provided 50% by Noble and 50% by a private investor. Noble has agreed with the investor that if the outcome of the program is positive, Noble will enter into good faith negotiations with the investors to enter into an option and joint venture agreement that would recognize the investors and Noble as each holding their respective interests in the drilled property, subject to standard dilution provisions to the extent that either does not fund future maintenance and exploration expenditures. All agreements between Noble and the investors are subject to compliance with TSX Venture Exchange policies.
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.
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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