NioGold Mining Corporation
TSX-V Symbol:
NOX
FWB Symbol: NG1
News Release
NIOGOLD FINDS URANIUM ON PUMP
LAKE
Val-d'Or, Quebec, September 11,
2007: NioGold Mining Corporation (TSX-V: NOX) (FWB: NG1) ("NioGold")
reports on the first phase of prospecting on the Pump Lake property,
Quebec.
As anticipated, initial prospecting in
July on the Pump Lake property resulted in the discovery of two uranium
occurrences, named the Roxane and Emma showings. The showings lie along a newly
defined radioactive structural trend where significant values of up to 0.24%
U3O8 (4.7 lbs / ton U3O8) were obtained. The Pump Lake property was further
enlarged to 150 square kilometres to cover the most prospective ground along
this trend.
Roxane Showing: A northeast-southwest
trending swarm of radioactive granitic intrusive dykes, possibly related to the
Lesueur Alkaline Intrusive Complex, was discovered on the west side of the
property. The dyke swarm was traced and prospected over a distance of 1
kilometre. Thirty-two (32) grab samples of outcrop of the intrusive material
were taken with 16 samples returning assay values ranging from 0.01% to 0.20%
U3O8 (0.2 to 4.0 lbs / ton U3O8). Higher values, ranging from 0.05% to 0.20%
U3O8 (1.1 to 4.0 lbs / ton U3O8), were obtained in 8 samples all collected
within a 200 metres stretch at the west end of the prospected area.
Emma Showing: A second
isolated occurrence was discovered 6 kilometres on strike to the northeast of
the Roxane showing. Sampling of a small trench dug over a radiometric anomaly
returned assay values of up 0.24% U3O8 (4.7 lbs / ton U3O8). The Emma showing
occurs in altered meta-sedimentary rocks possibly on the margin of underlying
intrusive rocks.
In the past, the Pump Lake sector has
undergone very limited exploration, particularly for uranium. The Roxane and
Emma uranium occurrences were uncovered by field investigation of priority
targets outlined by the airborne geophysical and geochemical surveys and
structural lineament study completed during the spring. Detailed investigation
is currently in progress over the Roxane showing. A field grid at 50-metre line
spacing is being established over a 2.6 kilometre by 1.0 kilometre area. Abitibi
Geophysics of Val-d'Or is conducting radiometric and magnetic geophysical
surveying over the grid. Geophysical data is made available on a daily basis for
prompt field investigation. Further prospecting along the northeast-southwest
Roxane-Emma trend is planned.
Pump Lake is located 50 kilometres north
of the Mt-Laurier uranium district, Quebec. Under the terms of an option
agreement with Ressources Maxima inc. ("Maxima"), NioGold is earning a 100%
interest in the Pump Lake property by paying a total of $100,000, issuing a
total of 500,000 common shares to Maxima and incurring at least $500,000 of
exploration expenditures.
Quality Assurance / Quality Control
and Qualified Persons
The rock samples were bagged
and sealed by NioGold personnel and delivered to ALS-Chemex in Val-d'Or, Quebec,
an accredited laboratory. The samples were analysed for 38 elements by lithium
meta-borate fusion and ICP-MS for quantitative results of all elements,
including those encapsulated in resistive minerals. Samples returning uranium
values greater than 1,000 ppm (0.1% U) were re-analysed by lithium borate 50:50
flux and XRF method.
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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EXPLORATEUR |
CODE : NOX.V |
ISIN : CA6544851018 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Niogold est une société d’exploration minière d'or basée au Canada. Niogold détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont MALARTIC BLOCK, CAMFLO WEST, KIERENS, LE TAC, MARBAN MINE, BLONDEAU-GUILLET, BOYVINET et PUMP LAKE au Canada. Niogold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 56,3 millions CA$ (42,5 millions US$, 38,0 millions €). La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2003 à 0,74 CA$, et son plus bas niveau récent le 19 décembre 2008 à 0,04 CA$. Niogold possède 130 820 008 actions en circulation. |