Val-d'Or, Quebec, April 26,
2007. NioGold Mining Corporation (TSX-V: NOX) (FWB: NG1) is pleased
to announce that it has initiated a 35,000-metre Phase II drilling program on
the Marban Block property located in the Malartic Gold Camp, Quebec. A drill
rig is presently set-up in the Marban Mine area where 10,000 metres of
drilling has been planned.
The Marban Mine is situated on the
east side of the Marban Block property and lies along a broad deformation zone
commonly named the Marban Shear. From 1961 to 1974, Marban Gold Mines mined
2.0 million tonnes of ore at an average grade 5.27 grams per tonne (g/t) gold,
yielding over 330,000 ounces of gold (Marban Gold Mines and MNRQ files). The
orebodies occur as disseminated sulphide and vein stockwork zones hosted
within a sequence of mafic volcanic and/or intrusive units here named the
Marban Mine Sequence. The mine was developed over a lateral distance of 800
metres on 3 levels (500, 650 and 800) located between -150 to -245 metres
vertical depth.
The geological setting and style of
mineralization at the Marban Mine is comparable to the large S-50 Zone at the
Kiena Mine Complex, located 5 kilometres on strike to the southeast. Mine
production from the S-50 Zone (1981-2002) amounted to 10.7 million tonnes
grading 4.75 g/t gold yielding 1.56 million ounces of gold (Wesdome Gold
Mines). Local tight folding of the stratigraphic units is interpreted to be an
important control on the localization of economic gold concentrations at both
the Marban and Kiena mines.
In 2006, NioGold completed 10,000
metres of drilling in 63 holes on the Marban Block property including two
holes (MB-06-001 and MB-06-002) drilled in the fall to investigate the Marban
Mine area. Hole MB-06-001 discovered near surface disseminated sulphide
mineralization above the Marban Mine workings within units similar to the
Marban Mine Sequence. The mineralized zone returned an average of 3.6 g/t gold
over 26.4 metres including 10.8 g/t gold over 4.0 metres (refer to press
release dated December 19, 2006). Hole MB-06-001 cut a second thick sulphide
mineralized zone starting at 440 metres vertical depth along the down-dip
depth extent of the Marban Mine Sequence. This second zone averaged 1.3 g/t
gold over 43.0 metres including 6.9 g/t Au over 2.0 metres. Hole MB-06-002
confirmed the near surface gold mineralization cut by hole MB-06-001 returning
8.0 g/t gold over 2.2 metres.
The 2006 drilling highlighted the
potential to outline bulk-style gold mineralization in proximity to the mined
out orebodies within the prospective Marban Mine Sequence. The 2007,
10,000-metre, drill program planned over the Marban Mine area will investigate
4 priority targets:
1) near surface fold closure of the
Marban Mine Sequence
2) down-dip depth extent of the Marban Mine
Sequence
3) faulted off east extent of the Marban Mine orebodies
4)
faulted off west extent of the Marban Mine orebodies
The goal of the 2007 drilling program
is to outline a large tonnage (>10M tonnes) deposit similar to that found
at the S-50 Zone at Kiena.
Resource
Estimations
Independent consultants Mine
Development Associates of Reno, Nevada is progressing with the mineral
resource estimations of the Norlartic and Kierens gold zones located on the
Marban Block property. The resources are being estimated with an emphasis on
evaluating the bulk tonnage potential. The resource estimates are expected to
be completed during the month of May.
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.
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 Kierens (First Canadian), Norlartic and Marban Mines that
collectively produced 592,265 ounces of gold (Aur Resources Inc. and MRNFQ
files).
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 Corp.
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