Exploration Results on Kierens Deposit Opens Ground
Val-d'Or, Quebec - October 8, 2013 - NioGold Mining Corp. (TSX-V:NOX) (OTCQX:NOXGF) ("NioGold") is pleased to announce the results of 21 holes drilled on its 100% owned Marban Block property, located in the prolific Abitibi gold mining district, Quebec. The Marban Block property hosts three deposits (Marban, Kierens and Norlartic) which collectively host estimated measured and indicated resources of 1,531,000 ounces gold (32,127,000 tonnes grading 1.48 g/t gold) plus inferred resources of 599,000 ounces gold (16,478,000 tonnes grading 1.13 g/t gold).
The drilling was targeted to infill the inferred resource of the Kierens and Norlartic deposits, as well as the 450 meter gap area between the Norlartic and Kierens deposits, and also the gap between the Norlartic and Marban deposits. The drilling took place between February and May, 2013, and comprised 9,271 meters of drilling with up to four drills operating on ice bridges.
Highlights from drilling inside the inferred resource of the Kierens deposit are:
-9.12 g/t Au over 1.9 m in hole FC-13-013 at a vertical depth of 230 m.
-1.72 g/t Au over 22.9 m which include 2.93 g/t Au over 5.3 m in hole FC-13-018 at a vertical depth of 530 m.
-3.04 g/t Au over 4.4 m in hole FC-13-020 at a vertical depth of 495 m.
-2.65 g/t Au over 18.7 m which include 5.19 g/t Au over 6.9 m in hole FC-13-025 at a vertical depth of 360 m.
Highlights from drilling between the Kierens and Norlartic deposits are:
-2.05 g/t Au over 16.5 m in hole FC-13-012 at a vertical depth of 330 m.
-15.97 g/t Au over 1.2 m in hole FC-13-015 at a vertical depth of 605 m.
-10.52 g/t Au over 0.6 m in hole FC-13-021 at a vertical depth of 90 m.
Highlight from drilling inside the inferred resource of the Norlatic deposit is:
-0.91 g/t Au over 19.0 m in hole NL-13-081 at a vertical depth of 180 m.
Drill holes results:
-----------------------------------------------------------------------------------------------
|Hole |Easting |Northing|Azimuth|Dip |Hole |From |To
|Length |Grade |Zones 2 |
| |1 |1 | | |Length | |
| | | |
| | | (m) | | | |
| |(m) | | |
| | (m) | | | | (m) | |(m)
| | | |
| | | | | | | |
| | (g/t | |
| | | | | | |(m) | |
|Au) | |
| | | | | | | | |
| | |
|---------------------------------------------------------------------------------------------|
|FC-13-011|7+95W |2+84N |N211° |-53° |423.0 |286.7 |298.6
|11.9 |0.44 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |286.7
|291.1 |4.4 |0.80 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-012|8+85W |3+27W |N211° |-57° |555.0 |387.2 |403.7
|16.5 |2.05 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-013|9+75W |2+91N |N211° |-49° |426.0 |292.7 |294.6
|1.9 |9.12 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |308.3
|312.2 |3.9 |1.59 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-014|10+35W |3+42N |N211° |-66° |678.0 |529.4 |530.5
|1.1 |4.28 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-015|8+40W |4+36N |N211° |-66° |741.0 |559.9 |570.5
|10.6 |0.50 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |583.7
|589.0 |5.3 |1.54 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |601.3
|602.0 |0.7 |4.73 |FW |
|---------------------------------------------------------------------------------------------|
| | | | | | |682.6
|683.8 |1.2 |15.97 |FW |
|---------------------------------------------------------------------------------------------|
|FC-13-016|8+40W |4+36N |N211° |-66° |96.0 |81.1 |83.5
|2.4 |1.28 |NNZ |
|---------------------------------------------------------------------------------------------|
|FC-13-017|9+15W |1+13N |N211° |-45° |231.0 |83.6 |92.3
|8.7 |1.23 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-018|10+65W |3+10N |N211° |-73° |714.0 |540.9 |563.8
|22.9 |1.72 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |561.2
|563.8 |2.6 |7.77 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-019|9+75W |3+71N |N211° |-62° |654.0 |37.1 |41.8
|4.7 |1.39 |NNZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |482.4
|483.5 |1.1 |8.10 |HW |
|---------------------------------------------------------------------------------------------|
| | | | | | |491.5
|496.7 |5.2 |1.05 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-020|9+75W |3+71N |N211° |-67° |708.0 |31.1 |47.8
|16.7 |1.30 |NNZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |43.0
|47.8 |4.8 |3.05 |NNZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |535.6
|540.0 |4.4 |3.04 |HW |
|---------------------------------------------------------------------------------------------|
|FC-13-021|5+70W |1+51N |N211° |-44° |271.0 |131.0 |132.8
|1.8 |3.45 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |131.0
|131.6 |0.6 |10.52 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-022|6+15W |1+12N |N211° |-50° |250.0 |217.6 |219.6
|2.0 |0.85 |FW |
|---------------------------------------------------------------------------------------------|
|FC-13-023|9+75W |3+31N |N211° |-62° |606.0 |335.2 |336.4
|1.2 |3.85 |HW |
|---------------------------------------------------------------------------------------------|
| | | | | | |390.3
|394.6 |4.3 |1.57 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |427.0
|438.5 |11.5 |0.77 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-024|10+35W |2+62N |N211° |-60° |519.0 |324.4 |336.1
|11.7 |1.07 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-025|10+35W |3+12N |N211° |-63° |621.0 |396.4 |415.1
|18.7 |2.65 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |407.5
|414.4 |6.9 |5.19 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-026|8+25W |1+15N |N211° |-46° |224.4 |60.1 |61.8
|1.7 |3.15 |HW |
|---------------------------------------------------------------------------------------------|
| | | | | | |90.8
|97.0 |6.2 |1.17 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |118.7
|120.9 |2.2 |3.92 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |169.2
|171.6 |2.4 |1.61 |FW |
|---------------------------------------------------------------------------------------------|
|NL-13-081|3+15E |1+50N |N211° |-67° |279.0 |182.0 |201.0
|19.0 |0.91 |HW |
|---------------------------------------------------------------------------------------------|
|MB-13-338|6+00E |0+70N |N211° |-78° |354.0 |174.6 |181.7
|7.1 |0.69 | |
|---------------------------------------------------------------------------------------------|
| | | | | | |193.1
|206.3 |13.2 |1.14 | |
|---------------------------------------------------------------------------------------------|
| | | | | | |238.6
|241.8 |3.2 |2.53 | |
|---------------------------------------------------------------------------------------------|
| | | | | | |303.1
|309.2 |6.1 |0.82 | |
|---------------------------------------------------------------------------------------------|
|MB-13-339|5+00E |1+30S |N211° |-68° |255.0 |52.3 |52.9
|0.6 |0.64 | |
|---------------------------------------------------------------------------------------------|
|MB-13-340|5+50E |1+75S |N211° |-50° |204.0 |59.0 |60.0
|1.0 |2.80 | |
|---------------------------------------------------------------------------------------------|
|MB-13-341|15+50E |0+40S |N211° |-45° |438.0 |201.2 |205.4
|4.2 |1.69 |Norlartic|
|---------------------------------------------------------------------------------------------|
| | | | | | |384.5
|387.5 |3.0 |1.76 | |
|---------------------------------------------------------------------------------------------|
|1: Norlartic grid | | | | | |
| | | |
|coordinates | | | | | | |
| | |
|---------------------------------------------------------------------------------------------|
|2: MZ = Kierens main zone, HW = In the hanging wall of the Kierens
or | |
|Norlartic deposits, FW = In the footwall of the Kierens deposit, NNZ
= North | |
|North zone
| |
-----------------------------------------------------------------------------------------------
"The latest results are a step forward in terms of adding to and upgrading the project resource base", said NioGold's President and CEO, Mike Iverson. "At Kierens, the bulk of the current resource is above 500 vertical metres. Hole FC-13-015 now suggests strong potential for extension of this deposit to depth. At Norlartic, Hole MB-13-341 extends the Norlartic trend over a strike of 1,200 metres and appears to confirm a convergence of this zone towards the hanging wall of the Marban deposit. In all, the new drilling has identified some very promising areas with the potential to generate new resources, particularly in proximity to the underground drifts connecting the Kierens and Norlartic former mines."
A map showing the location of the new holes is available at:
http://www.niogold.com/projects/maps/Norlartic-Deposit-Holes-Location.jpg
http://www.niogold.com/projects/maps/Kierens-Deposit-Holes-Location.jpg
http://www.niogold.com/projects/maps/DDH-2013-Drilling.jpg
Two longitudinals are showing the new best results obtained on the Kierens and Norlartic deposits are available at:
http://www.niogold.com/projects/maps/Norlartic-Deposit-Longitudinal-Section.jpg
http://www.niogold.com/projects/maps/Kierens-Deposit-Longitudinal-Section.jpg
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths but are anticipated to approximate true width, except where structural complexities occur, as the holes were drilled near perpendicular to the principal local structural orientation.
Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes of the mineralised zones, except for holes that traversed underground workings which were completed using BQ-size core. 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 Techni-Lab 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 are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.
The drilling program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the 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 Corp. - << On Canada's Golden Highway >>
NioGold Mining Corp. 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 encompass seven producing gold mines including Osisko Mining's new Canadian Malartic operations. NioGold's land holdings within the Abitibi presently cover 130km2 and encompass four former gold producers, namely the Norlartic, Kierens (First Canadian), Marban and Malartic Hygrade mines that collectively produced 640,000 ounces of gold.
NioGold's experienced and qualified technical team are overseeing the advancement of these projects, with current drill programs underway targeting expansion of the resource base.
NioGold invites you to visit the company website at www.niogold.com. For information on NioGold Mining Corp. contact:
Michael A. Iverson, President & CEO Dale Paruk, Vice-President
miverson@niogold.com dparuk@niogold.com
Tel: (604) 856-9887Tel: (604) 662-4505
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.
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