NioGold Mining Corporation
TSX-V Symbol:
NOX
Frankfurt Symbol: NG1
News
Release
MARBAN DRILLING RETURNS 6.05
G/T GOLD OVER 6.5 METRES
Val-d'Or, Quebec, November 6,
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. Assay results received from
holes MB-07-015 to MB-07-018 (4) returned more strong results with best
intervals of 6.51 g/t Au over 2.5 metres in hole MB 07 017 and 6.08 g/t Au over
6.5 metres in hole MB 07 018. Core angles with dominant structural fabric
indicate close to true width for the mineralized interval in hole MB 07
018.
NioGold has completed 20 drill holes for
9,120 metres (MB 06 001 to MB 07 020) on the Marban Mine target area. The
holes were drilled on four north-south sections located 350 to 550 metres east
of the Marban Mine shaft. Readers are invited to review the Marban Surface
Plan and Marban Section 450E and previously reported results for holes MB 06 001
to MB 07 014 available at www.niogold.com/marban. New
results received from holes MB 07 015 to MB 07 018 are tabled below. Assay
results for holes MB 07 019 and MB 07 020 are pending.
Note: Reported intervals are in core
lengths. Additional drilling is needed to estimate true widths and verify
the continuity of the mineralised intervals from hole to hole.
The 6.08 g/t Au over 6.5 metres
intersection in hole MB 07 018 lies along the depth extent and upper contact of
the Marban Mine Sequence (mafic volcanics) with hangingwall ultramafic units
where gold mineralization is consistently encountered (e.g. 4.15 g/t Au over 2.5
m and 6.57 g/t Au over 1.6 m in hole MB 07 008 and 4.46 g/t Au over 2.0 metres
in hole MB 07 014). The 6.51 g/t Au over 2.5 metres intersection in hole
MB 07 017 was obtained in previously unrecognized mineralization within the
hangingwall ultramafic units above the Mine
Sequence.
Drilling results received to date on the
Marban Mine target demonstrate strong potential to outline new gold resources
near surface (updip) and along the depth extent (downdip) of the Mine
Sequence. An additional 10,000 metres of drilling is presently on-going
that is focusing on the west strike extent of newly discovered near surface
mineralisation. Limited mine development was conducted to the west of the
Marban Mine shaft (section 0+00W) and the gold mineralized system remains open
west of section 3+00W. A first pass drill testing is being conducted at
100-metre section spacing.
Norlartic-Kierens Resource Area
Drilling
Further to the north on the Marban Block
property, a drill program was initiated in mid September to expand the gold
resources presently defined along the Norbenite shear zone in proximity to the
former Norlartic and Kierens Mines. In June, NioGold released National
Instrument 43-101 compliant indicated and inferred resources estimates of 72,000
and 270,000 ounces gold, respectively (see News Release dated June 28,
2007). The program consists of 12,400 metres in 29 holes as 50- to
150-metre step-outs from existing drill hole intersections. Readers are
invited to review the Norlartic-Kierens Section available at www.niogold.com/marban for the location of the main drill target
areas.
Six (6) holes for 1,600 metres were
completed to date on the target. Three (3) holes (NL 07 037 to NL 07 039)
were completed on section 4+50W (450 metres west of the former Norlartic Mine
shaft). The holes tested the west extent of the Norlartic Main Zone from
surface to a vertical depth of about -200 metres. Holes NL-06-035 and
NL-06-036, completed in 2006 on approximate section 4+00W, returned
intersections of 2.74 g/t Au over 16.8 metres including 30.39 g/t Au over 1.3
metres, 7.75 g/t Au over 1.2 metres, and 5.71 g/t Au over 5.5 metres including
14.79 g/t Au over 1.2 metres.
The drill rig was moved to section
15+00W where 3 holes (MH-07-001 to MH-07-003) were completed to test the west
extent of the Kierens Zone on the recently optioned Malartic Hygrade
property. Results are pending for all 6 holes.
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. 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, BLONDEAU-GUILLET, BOYVINET and PUMP LAKE 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. |