NioGold Reports Preliminary Leach Test Results at Marban
July 06, 2015
Val d'Or, Quebec -- NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF) ("NioGold" or the "Company") is pleased to release the results of fifty (50) bottle-roll leach tests on representative mineralized core samples from the Marban deposit, located on NioGold's 100% owned Marban Block property in the Malartic gold camp, Abitibi District, Quebec.
Samples were ground to an average of 65 microns and leached for 36 hours, similar to leaching conditions at the nearby Canadian Malartic mine. Results indicate an average recovery of 88.3% over a grade range of 0.22 to 4.40 g/t Au (avg. 1.39 g/t Au) with average cyanide (NaCN) consumption of 0.17 kg per tonne. Results are summarized below for four sample populations:
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Number of Samples
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Grade Range (calc. g/t Au)
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Avg. Grade (calc. g/t Au)
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Avg. P80 microns
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NaCN Consumption kg/t
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Recovery Range Au %
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Average Recovery Au %
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8
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0.22 - 0.50
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0.37
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62.3
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0.13
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83.3 - 93.8
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89.5
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23
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0.51 - 1.50
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0.90
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65.8
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0.18
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78.6 - 96.1
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89.7
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14
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1.51 - 2.50
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2.07
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64.0
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0.19
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71.9 - 98.1
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85.4
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5
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2.51 - 4.40
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3.34
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66.4
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0.16
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81.3 - 98.0
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88.1
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|
|
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Average
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0.22 - 4.40
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1.39
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64.8
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0.17
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-
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88.3
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Four samples in the 1.20-2.30 g/t Au range gave poor results (less than 78% recovery), possibly due to the presence of coarser gold grains. Check analyses will be performed on these samples to confirm results. If these four samples are excluded from the set, the average recovery is 89.5% with a range of 81.3% to 98.0% across the entire sample population.
Robert Wares, P. Geo., NioGold's President and CEO, stated: "Leach results from this first run of samples are excellent. Average recovery around the 88-89% mark is comparable to Canadian Malartic ore under similar leach times and cyanide consumption levels. More importantly, the average recoveries at Marban are close throughout the four sample populations, giving a flat grade/recovery curve with no significant drop in lower grade material. This is a very positive feature of the deposit and will be confirmed with additional testing."
An additional set of fifty samples will be sent at for leach tests at SGS Mineral Services in order to confirm preliminary test results and improve statistics on the grade/recovery curve.
Technical Info, QA/QC and Qualified Persons
Metallurgical program design and monitoring are being executed under the supervision of Mr Christian Laroche, P. Eng. and Mr. Yan Ducharme, M.Sc., P.Geo. (OGQ), NioGold's Vice-President Exploration, both Qualified Persons as defined by National Instrument 43-101. Metallurgical testing and analyses were performed at SGS Mineral Services in Lakefield, Ontario. QA/QC program utilized is consistent with NI 43-101 and industry best practice standards. This news release was reviewed and approved by Mr. Laroche and Mr. Ducharme.
NioGold Mining Corporation - « On Canada's Golden Highway »
NioGold Mining Corp. is a mineral exploration and development company focused on gold. The Company's projects are located in the heart of Quebec's prolific Abitibi gold mining district. The Cadillac, Malartic and Val-d'Or mining camps in this district have produced over 45 million ounces of gold since the 1930's and presently encompass six producing gold mines, including the prolific Canadian Malartic mine located adjacent to NioGold's flagship Marban project. NioGold's land holdings within the Abitibi presently cover 125km2 and encompass seven former gold producers, notably the Norlartic, Kierens, 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 and reserve definition of the Marban Block project.
NioGold invites you to visit the company website at www.niogold.com.
For information on NioGold Mining Corp. contact:
Michael A. Iverson,
[email protected]
Tel: (604) 856-9887
Dale Paruk
[email protected]
Tel: (604) 510-4505
Toll-free: (877) 642-6200
Louis Baribeau
[email protected]
Tél: (514) 667-2304
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 although the 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.
All forward looking statements are made as of the date of this news release, and except as required by law, the Company assumes no obligation to update any forward looking statements.
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. The Company 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 the Company has 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 the Company's properties.
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