SISCOE EAST DRILLING RETUNS 43.67 G/T AU OVER 1.9 METRES
Val-d�Or, Quebec, August 6, 2009: NioGold Mining Corporation
(TSX-V:NOX) (Frankfurt:NG1) (�NioGold�) is pleased to report on
exploration drilling results in the Val-d�Or mining camp, Abitibi,
Quebec. NioGold completed five (5) diamond drill holes, for 2,507 metres,
on the Siscoe East property under an option to acquire a 50% interest in the
property from Alexandria Minerals Corp. (�Alexandria�). The holes investigated
the west border of the Bourlamaque Batholith and K-Zone shear in proximity to
the former Sullivan gold mine, as well as tested geophysical anomalies located
in the northwest and southwest portions of the property.
Holes SE 09 03 and SE 09 04 intersected several important mineralised quartz
veins, vein stockworks and fracture-controlled alteration zones associated with
sheared intrusive dykes cutting the Bourlamaque Batholith. The veins and
associated alteration zones returned anomalous to high-grade gold values with a
best interval of 43.67 g/t Au over 1.9 metres in hole SE 09 04, which contained
coarse visible gold. Quartz-gold vein systems within the Bourlamaque Batholith
are typically characterised by a �nugget� effect where gold grades in drill
intersections depend on the presence of erratically distributed coarse native
gold. Structures that returned gold values of interest are tabled below. Intersections
are estimated to be close to true width based on core angles with the principal
structural fabric.
Hole #
|
Az
|
Dip
|
Depth
(m)
|
Zone
|
From
(m)
|
To
(m)
|
Core Length
(m)
|
Grade
(g/t Au)
|
|
|
|
|
|
|
|
|
|
SE-09-003
|
176.6
|
-44.0
|
635.0
|
Vein stockwork, alteration and sulphides
|
459.0
|
463.0
|
4.0
|
1.71
|
|
|
|
|
including
|
461.9
|
463.0
|
1.1
|
4.98
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intense fracturing, alteration and sulphides mineralisation
|
494.0
|
500.9
|
6.9
|
1.53
|
|
|
|
|
including
|
497.5
|
498.6
|
1.1
|
3.92
|
|
|
|
|
|
|
|
|
|
SE-09-004
|
175.6
|
-54.5
|
793.0
|
Vein stockwork, alteration and sulphides
|
412.0
|
413.9
|
1.9
|
43.67
|
The Bourlamaque Batholith, a large syn-volcanic quartz-dioritic intrusive mass,
hosts several quartz-gold vein systems that yielded some of the better grade
ores mined in the region. Former and current gold producers include, from east
to west, the Beaufor-Perron, Ferderber, Dumont, Lac Herbin and Sullivan mines.
The gold mineralised structures in holes SE 09 03 and SE 09 04 were intersected
between -300 and -350 metres vertical depth and to the west of the former
Sullivan Mine, which produced 1.1M ounces of gold at an average grade of 7.65
g/t gold (1934-68) from four (4) main shear veins that strike onto the Siscoe
East property.
Based on the excellent results of the first two holes drilled along the west
border of the Bourlamaque Batholith, a comprehensive geological interpretation
of the area and follow-up drill program is in the planning.
About the Siscoe East Property
The Siscoe East property is comprised of 96 mining claims covering 2,500
hectares located on the northwest side of the town Val d�Or, in between and
around the past-producing Sullivan and Siscoe gold mines. The Siscoe Mine, Val
d�Or�s first and highest grade gold mine, produced 880,000 ounces of gold at an
average grade of 9.22 g/t Au (1929-49) from northeast-trending veins, and from southeast
trending veins along a regional shear zone known as the K-Zone.
NioGold has an option to earn a 50% interest in the property from Alexandria in
consideration for 650,000 shares and expending $750,000 on exploration by June
11, 2010.
Malartic Camp
The drilling program on the Malartic camp land holdings is scheduled to start
in the upcoming week and will test several high priority targets identified
along under-explored segments of the Norbenite-Marbanite deformation
corridor. NioGold controls a continuous 14-kilometre segment of the
Norbenite-Marbanite that is host to several former and current gold producers
i! ncluding Goldex (Agnico-Eagle), Kiena (Wesdome), Marban, Norlartic and
Kierens (NioGold).
Mine Development Associates is progressing on the first resource estimate on
the Marban gold deposit and upgraded resource estimates on the Norlartic and
Kierens deposits released in 2007. The numbers are expected to be available for
release in September.
Quality Assurance / Quality Control and Qualified Persons
Diamond drill holes were drilled with NQ-size core in order to obtain larger
sample volumes of the mineralised zones. The core was sealed delivered by the
drilling contractor to NioGold�s facilities located at the Norlartic Mine site.
The core was photographed for reference, logged and mineralised sections were
sawed in half. Sample lengths vary between 0.5 to 1.5 metres. Half core samples
were bagged, sealed and delivered to ALS Chemex in Val-d�Or, Quebec, an
accredited laboratory. The remaining core is stored on site for
reference. 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 field duplicates in the sample batches sent to the
laboratory and a systematic re-assaying of samples returning values above 2 g/t
Au by the fire-assay method using a gravimetric finish. As well, pulps
grading above 0.5 g/t Au are sent to Bourlamaque Assay Laboratories Ltd. in
Val-d�Or for check assaying.
This news release was prepared by Rock Lefran�ois, P.Geo. (OGQ), the Company�s
President and Qualified Person as defined by National Instrument 43-101. The
drilling programme is being conducted under the supervision of Yan Ducharme,
M.Sc., P.Geo. (OGQ), also a Qualified Person as defined by National Instrument 43-101!
.
< br />NioGold Mining Corporation � � The Golden Highway Runs
Through NioGold �
NioGold Mining Corporation is a junior exploration company primarily focused on
GOLD. The Company�s flagship projects are located in the Malartic and
Val-d�Or gold mining camps, Abitibi region of Quebec. The camps have
produced over 27 million ounces of gold and presently encompass several active
advanced exploration and mine development projects such as Canadian Malartic
(Osisko Exploration), Goldex (Agnico-Eagle), Kiena (Wesdome), Lac Herbin
(Alexis Minerals) and Midway (Northern Star Mining). The Malartic camp
land holdings encompasses three former gold producers, namely the Norlartic,
Kierens (First Canadian), and Marban mines that collectively produced over 590,000
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:
Michael A. Iverson, Chairman & CEO
miverson@niogold.com
Tel: (604) 856-9887
Dale Paruk, Vice-President
dparuk@niogold.com
Tel: (604) 662-4505
First Canadian Capital
Corp.
Leo Karabelas
lkarabelas@firstcanadiancapital.com
Tel: (416) 742-5600 x235
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.