Val d'Or, Quebec / ACCESSWIRE / January 16, 2015 / NioGold Mining Corporation (NOX.V) (NOXGF) ("NioGold") is pleased to provide the results of the first fifteen (15) diamond drill holes of its current 40,000 meters infill program on the modelled open pit shell of the Marban deposit, located on its 100% owned Marban Block property in the Malartic Gold camp in the Abitibi District of Quebec. The results indicate several new high grade shoots as well as wide lower grade intervals.
Drilling highlights of the infill program include:
-
-- 68.73 g/t Au over 4.1 m in hole MB-14-342 at a vertical depth of 145 m.
-- 49.90 g/t Au over 3.5 m including 124.28 g/t Au over 1.1 m in hole MB-14-343 at a vertical depth of 250 m.
-- 18.73 g/t Au over 0.9 m in hole MB-14-347 at a vertical depth of 50 m.
-- 8.88 g/t Au over 4.0 m in hole MB-14-349 at a vertical depth of 155 m.
-
-- 1.02 g/t Au over 42.3 m in hole MB-14-353 at a vertical depth of 325 m.
-- 2.96 g/t Au over 5.5 m in hole MB-14-350 at a vertical depth of 165 m.
-- 2.14 g/t Au over 9.7 m in hole MB-14-351 at a vertical depth of 490 m.
Robert Wares, NioGold's President and CEO, commented: "These preliminay results are very encouraging. They confirm the distribution of the mineralized zones, are increasing the confidence in the inferred resources and are locally filling gaps where no mineralization was known before, such as the intercept in MB-14-342 that produced 68.73 g/t Au over 4.1 m in the hanging wall of the deposit."
The Marban deposit is hosted in a sequence of volcanic rocks (alternating basalts and komatiites) cut by multiple granodioritic dykes. Gold bearing mineralization occurs in folded shear zones in the basalts and in quartz veins in every type of rocks. The infill program is designed to fill in 25 metre gaps on every 50 metre-spaced drill sections and is restricted in width and depth to test the modelled open pit shell. Since October 14, 2014, more than 14,000 meters distributed in 40 holes have been drilled and were concentrated over a strike length of 450 m on the eastern part of the deposit.
Results from holes MB-14-342 to MB-14-356 are summarized below:
|
Hole
|
Easting1 (m)
|
Northing1 (m)
|
Azimuth
|
Dip
|
Hole Length (m)
|
From (m)
|
To (m)
|
Length (m)
|
Grade (g/t Au)
|
Zone
|
|
MB-14-342
|
4500
|
4100
|
175?
|
-71?
|
303
|
157.7
|
161.8
|
4.1
|
68.73
|
HW New
|
| |
|
|
|
|
incl
|
157.7
|
158.2
|
0.5
|
226.23
|
|
| |
|
|
|
|
incl
|
160.1
|
160.7
|
0.6
|
272.02
|
|
| |
|
|
|
|
|
192.8
|
193.6
|
0.8
|
6.19
|
HW New
|
|
MB-14-343
|
4500
|
4074
|
177?
|
-70?
|
270
|
159.7
|
172.2
|
12.5
|
1.82
|
HW New
|
| |
|
|
|
|
incl
|
162.8
|
164.6
|
1.8
|
7.53
|
|
| |
|
|
|
|
|
260.8
|
264.3
|
3.5
|
49.90
|
HW New
|
| |
|
|
|
|
incl
|
262.0
|
263.1
|
1.1
|
124.28
|
|
|
MB-14-344
|
4499
|
4027
|
175?
|
-71?
|
303
|
153.8
|
155.0
|
1.2
|
0.75
|
2
|
|
MB-14-345
|
4399
|
4231
|
177?
|
-66?
|
351
|
203.0
|
203.5
|
0.5
|
10.08
|
HW
|
| |
|
|
|
|
|
233.2
|
253.0
|
19.8
|
0.56
|
HW
|
|
MB-14-346
|
4049
|
3996
|
181?
|
-57?
|
325
|
198.4
|
205.9
|
7.5
|
0.71
|
B-D
|
| |
|
|
|
|
|
205.9
|
210.3
|
Stope
|
|
| |
|
|
|
|
|
210.3
|
229.8
|
19.5
|
0.49
|
C-A
|
| |
|
|
|
|
|
258.8
|
263.6
|
4.8
|
3.21
|
T
|
| |
|
|
|
|
|
309.8
|
310.8
|
1.0
|
5.76
|
|
|
MB-14-347
|
4049
|
3948
|
178?
|
-54?
|
266
|
62.2
|
63.1
|
0.9
|
18.73
|
2
|
| |
|
|
|
|
|
203.6
|
217.1
|
13.5
|
1.01
|
T
|
|
MB-14-348
|
4100
|
3953
|
185?
|
-54?
|
281
|
197.8
|
200.7
|
2.9
|
4.82
|
C
|
| |
|
|
|
|
|
227.3
|
233.1
|
5.8
|
1.49
|
T
|
|
MB-14-349
|
4099
|
3893
|
183?
|
-54?
|
252
|
190.0
|
194.0
|
4.0
|
8.88
|
T
|
|
MB-14-350
|
4148
|
3959
|
185?
|
-53?
|
300
|
42.8
|
43.9
|
1.1
|
8.10
|
New
|
| |
|
|
|
|
|
207.0
|
212.5
|
5.5
|
2.96
|
C
|
|
MB-14-351
|
4150
|
4325
|
179?
|
-50?
|
600
|
218.9
|
221.5
|
2.6
|
2.91
|
Grano
|
| |
|
|
|
|
|
511.3
|
521.0
|
9.7
|
2.14
|
C-A
|
|
MB-14-352
|
4099
|
4298
|
177?
|
-58?
|
563
|
511.1
|
520.0
|
8.9
|
1.25
|
C-A
|
|
MB-14-353
|
4048
|
4210
|
178?
|
-54?
|
468
|
272.0
|
282.8
|
10.8
|
1.58
|
E-X
|
| |
|
|
|
|
|
301.6
|
319.0
|
17.4
|
1.18
|
D
|
| |
|
|
|
|
|
402.9
|
445.2
|
42.3
|
1.02
|
T-A-C
|
| |
|
|
|
|
incl
|
407.0
|
408.2
|
1.2
|
8.26
|
C
|
| |
|
|
|
|
incl
|
429.9
|
434.0
|
4.1
|
1.77
|
T
|
|
MB-14-354
|
4400
|
4150
|
178?
|
-56?
|
297
|
117.7
|
139.4
|
21.7
|
0.82
|
HW
|
| |
|
|
|
|
|
186.7
|
187.6
|
0.9
|
7.97
|
HW
|
| |
|
|
|
|
|
223.6
|
232.0
|
8.4
|
1.58
|
2-E
|
|
MB-14-355
|
4400
|
4150
|
178?
|
-51?
|
60
|
Hole lost
|
|
|
MB-14-356
|
4449
|
4196
|
179?
|
-82?
|
351
|
259.3
|
263.6
|
4.3
|
2.54
|
New
|
| |
|
|
|
|
|
320.8
|
323.4
|
2.6
|
1.92
|
New
|
1: Marban grid
In addition to the infill program, between September 10th and October 10th, 2014, four (4) holes for a total length 1,646 m, were drilled on the Kierens deposit. The first two holes (FC-14-027 and 028) were drilled outside the known resources between the Kierens and Norlartic deposits, and the two other holes (FC-14-029 and 030) were drilled inside the inferred resources of the deposit. The new results are summarized in the table below:
|
Hole
|
Easting1 (m)
|
Northing1 (m)
|
Azimuth
|
Dip
|
Hole Length (m)
|
From (m)
|
To (m)
|
Length (m)
|
Grade (g/t Au)
|
Zone
|
|
FC-14-027
|
-900
|
215
|
211?
|
-65?
|
432
|
276.0
|
279.5
|
3.5
|
1.18
|
Kierens
|
|
FC-14-028
|
-899
|
218
|
211?
|
-75?
|
498
|
351.4
|
360.0
|
8.6
|
2.28
|
Kierens
|
|
FC-14-029
|
-966
|
177
|
211?
|
-55?
|
326
|
174.7
|
196.2
|
21.5
|
0.71
|
Kierens
|
| |
|
|
|
|
incl
|
192.6
|
196.2
|
3.6
|
1.98
|
|
|
FC-14-030
|
-1043
|
179
|
211?
|
-65?
|
390
|
160.9
|
215.4
|
54.5
|
0.73
|
Kierens
|
| |
|
|
|
|
incl
|
179.3
|
180.4
|
1.1
|
8.29
|
|
| |
|
|
|
|
incl
|
207.6
|
214.2
|
6.6
|
2.82
|
|
1:Norlartic Grid
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths and are anticipated to be perpendicular to the direction of the zone (except when the drilling angle is steeper than -65? to -70?).
Diamond drill holes were drilled with NQ-size core, except for holes that traversed underground workings which were completed using BQ-size core. The core was sealed and 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 Actlabs in Ste Germaine Boule, Quebec, which is 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 3 g/t Au by the fire-assay method using a gravimetric finish. As well, pulps grading above 0.5 g/t Au or mineralized intervals are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.
The exploration program is being conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), NioGold's Vice-President Exploration and a Qualified Person as defined by National Instrument 43-101. This news release was prepared by Mr. Ducharme.
NioGold Mining Corporation - >
NioGold Mining Corporation is a mineral exploration company focused on gold. The Company's flagship projects are located in the Cadillac - Malartic - Val-d'Or region of the prolific Abitibi gold mining district, Quebec. The Cadillac, Malartic and Val-d'Or mining camps have produced over 45 million ounces of gold since the 1930's and presently encompasses six producing gold mines including Osisko Mining's new Canadian Malartic operations. NioGold's land holdings within the Abitibi presently cover 125km2 and encompass four former gold producers, namely the Norlartic, Kierens (First Canadian), Marban and Malartic Hygrade mines that collectively produced 630,000 ounces of gold.
NioGold's experienced and qualified technical team are overseeing the advancement of these projects, targeting expansion of the resource base.
NioGold invites you to visit the company website at www.niogold.com.
For information on NioGold Mining Corporation contact:
Michael A. Iverson Dale Paruk Louis Baribeau
miverson@niogold.com dparuk@niogold.com lbaribeau@niogold.com
Tel: (604) 856-9887 Tel: (604) 510-4505 Tel: (514) 667-2304
Toll-free: (877) 642-6200
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS
This news release includes "forward looking statements", as that term is defined in Section 27A of the Unites States Securities Act of 1933, as amended, and Section 21E of the United States Exchange Act of 1934, as amended, that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.
Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. Except as required by law, the Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.
CAUTIONARY NOTE TO U.S. INVESTORS
The United States Securities and Exchange Commission (the "SEC") permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this news release, such as 'measured resources', 'indicated resources' and 'inferred resources', which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. The news release may contain information about adjacent properties on which we have no right to explore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative of mineral deposits on our properties.
SOURCE: NioGold Mining Corporation