NioGold Mining Corporation
TSX-V Symbol:
NOX
FWB Symbol: NG1
News
Release
NIOGOLD CONTINUES TO OUTLINE
NEW GOLD MINERALISATION AROUND FORMER MARBAN MINE
Val-d'Or, Quebec, September 5, 2007.
NioGold Mining Corporation (TSX-V: NOX) (FWB: NG1) ("NioGold") reports
on results of the 2007 drilling program on the Marban Block property, located in
the Malartic Gold Camp, Quebec.
The initial phase of the 35,000-metre 2007 drilling
program is investigating the Marban Mine sector, one of three former gold
producers on the Marban Block property. To date, NioGold has completed 17 holes
for 7,265 metres (MB-07-003 to MB-07-019) drilled on three north-south sections
located 350 to 550 metres east of the Marban Mine shaft (Sections 3+50E, 4+50E
and 5+50E). The holes investigated the surface and depth extension of the Marban
Mine Sequence over a strike length of 200 metres and to a maximum dip extent of
700 metres. All holes intersected disseminated sulphide and vein stockwork zones
typical of the Marban Mine ores.
Assay results received from holes MB-07-003 to
MB-07-012 highlight the gold enriched nature of the Marban Mine Sequence and its
potential to host disseminated bulk-style of mineralisation with higher grade
sections. Assay results for holes MB-07-013 to MB-07-019 are pending. The most
outstanding gold mineralised intervals obtained from the first 12 holes in the
Marban Mine sector, including the initial 2 holes completed in late 2006
(MB-06-001 and MB-06-002), are listed below:
The 2007 drilling over the Marban Mine sector will
continue to investigate the 4 priority targets outlined by the compilation of
historical data, namely the near surface and down-dip extent of the Mine
Sequence and the faulted off east and west extent of the Marban Mine
orebodies.
To the north of the Marban Mine, hole MB-07-012
collared into previously unrecognized intrusive-hosted vein stockworks and
associated alteration and sulphide mineralization returning anomalous gold
values with several intervals grading above 1 g/t Au. The veined and mineralized
sections bear strong similarities to Agnico-Eagle's Goldex deposit (21.4 million
tonnes grading 2.39 g/t Au = 1.64 million ounces of gold, Agnico-Eagle Mines
Ltd., 2005), located 10 kilometres to the southeast. Follow-up holes are
planned.
Complete assay results of holes MB-07-003 to
MB-07-012 for intervals grading over 1 g/t Au are tabulated below. Reported
intervals are in core lengths. Additional drilling is needed to estimate true
widths and verify the continuity of the mineralised sections from hole to
hole.
Quality Assurance / Quality Control and Qualified
Persons
Diamond drill holes were drilled with NQ-size core
in order to obtain larger sample volumes for the mineralised zones. The core was
delivered by the drilling contractor to NioGold's facilities located at the
Norlartic mine site. The core was photographed for reference, logged and
mineralized sections were sawed in half. Sample lengths varied between 0.5 to
1.5 metres. The half core samples were bagged, sealed and trucked to Activation
Laboratories Limited ("Actlabs") in Ancaster, Ontario, an accredited laboratory.
Samples were assayed by the fire-assay method using an atomic absorption finish
on a 50-gram pulp split.
A quality assurance and quality control program
(QA/QC) was implemented by NioGold and the laboratory to insure the precision
and reproducibility of the analytical method and results. The QA/QC program
includes the insertion of standards, blanks and duplicates in the sample batches
sent to the laboratory and a systematic re-assaying from the remaining coarse
reject fraction by the fire-assay method with an atomic absorption finish for
samples returning values of 2 to 5 g/t Au and by gravimetric finish for samples
returning values greater than 5 g/t Au. As well, 10% of the pulps are sent to
Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.
This press release was prepared by Rock Lefran�ois,
P. Geo. (OGQ), the Company's Vice-President and Qualified Person as defined by
National Instrument 43-101. The exploration programs are conducted under the
supervision of Bertrand Brassard, M.Sc., P.Geo. (OGQ), also a Qualified Person
as defined by National Instrument 43-101.
NioGold Mining Corporation - � The Golden
Highway Runs Through NioGold �
NioGold Mining Corporation is a junior exploration
company primarily focused on GOLD. The Company's main properties are the
Camflo West and the Marban Block located in the Malartic and Val-d'Or Mining
Camps, with a historic production of 25 million ounces of gold. The camps
presently encompass several active advanced exploration and mine development
projects such as Canadian Malartic (Osisko Exploration), Kiena (Wesdome), Midway
(Northern Star Mining), Goldex (Agnico-Eagle) and Lac Herbin (Alexis Minerals).
The Marban Block encompasses three former gold producers, namely the Norlartic,
Kierens (First Canadian), and Marban mines that collectively produced 592,265
ounces of gold.
NioGold's experienced and qualified technical team
will ensure the successful advancement of the Company's projects towards the
highest quality mineral resources. NioGold invites you to visit the company
website at www.niogold.com. For information
on NioGold Mining Corporation contact:
This Press Release includes forward-looking
statements that are subject to risks and uncertainties. All statements within,
other than statements of historical fact, are to be considered forward looking.
There can be no assurances that such statements will prove accurate and,
therefore, readers are advised to rely on their own evaluation of such
uncertainties. The TSX Venture Exchange or the Frankfurt Stock Exchange did not
approve nor do not accept responsibility for the adequacy or accuracy of this
NEWS RELEASE.
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Niogold Mining Corp
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EXPLORATION STAGE |
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CODE : NOX.V |
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ISIN : CA6544851018 |
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Niogold is a gold exploration company based in Canada. Niogold holds various exploration projects in Canada. Its main exploration properties are MALARTIC BLOCK, CAMFLO WEST, KIERENS, LE TAC, MARBAN MINE, PUMP LAKE, BLONDEAU-GUILLET and BOYVINET in Canada. Niogold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 56.3 millions as of today (US$ 42.5 millions, € 38.0 millions). Its stock quote reached its highest recent level on December 29, 2003 at CA$ 0.74, and its lowest recent point on December 19, 2008 at CA$ 0.04. Niogold has 130 820 008 shares outstanding. |