NioGold Releases Exploration Results From the Malartic Block and Marban Block Properties, Drilling to Resume
09.09.2014 | The Newswire
Val d'Or, Quebec - September 9, 2014 - NioGold Mining Corp. (TSX-V: NOX) (OTCQX: NOXGF) ("NioGold") is pleased to provide the results of the first phase of its 2014 exploration program totaling 5,493 metres of drilling in 28 holes and 2,229 metres of re-sampling in 48 historical holes in the Company's Malartic Gold Camp properties in the Abitibi Gold District of Quebec. The work was completed on three properties including: drilling on the now 100% owned Malartic H property (H zone); drilling on the Malartic Block property at the Audet zone; and on the Marban Block property with re-sampling at the Gold Hawk zone and exploration drilling south of the Norlartic deposit.
Selected results from the H zone on the Malartic H property include a high grade intercept of 24.79 g/t Au over 1.2 m (MH-14-083) and some lower grade intervals such as 1.02 g/t Au over 23.2 m (MH-14-084) and 0.94 g/t Au over 15.3 m (MH-14-086). This program consisted of nine (9) holes totaling 1,387 metres.
On the Malartic Block, 2,738 metres were drilled in thirteen (13) holes in the Audet zone area. Three fences of holes confirmed the existence of 2 additional kilometer-long auriferous trends (the first one being the Ludovick trend discovered in 2011) over a strike length of 1.3 kilometres and 150 to 250 metres apart. The magnetic map indicates that those trends could be extended to over a few kilometres long within our property boundaries. Drilling beside the Audet zone out-cropping indicates that the zone extends laterally with potential for a wide, lower grade envelop with intercepts such as 0.96 g/t Au over 18.0 m (CW-14-098).
The re-sampling of historic core from the Gold Hawk zone provided important information and filled gaps in the mineralized intersections. Numerous sampled gaps proved to be auriferous with values ranging from 0.11 g/t up to 4.94 g/t gold. Table 1 contains the best results which are all part of wider, lower grade intersections.
Table 1: New intervals in historical holes
----------------------------------------
|Hole |From |To |Length|Grade |
| | | |(m) | (g/t|
| | (m) | (m) | |Au) |
| | | | | |
|--------------------------------------|
|1950-4 |108.8 |110.3|1.5 |9.96 |
|--------------------------------------|
|1950-61 |244.1 |245.6|1.5 |9.42 |
|--------------------------------------|
|GU-7-101|40.5 |53.0 |12.5 |1.83 |
----------------------------------------
1: The interval contains one historic sample of 0.14 g/t Au over 0.9 m.
On the Marban Block, six (6) holes were drilled for a total of 1,368 metres exploring to the south of the Norlartic deposit. Results show that in this area, the granodioritic intrusion separating the Norlartic and Marban trends is about 300 metres wide and contains several anomalous values.
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|Hole |Easting |Northing |Azimuth|Dip |Hole |From |To
|Length |Grade |Zone |
| | | (m) | | |Length |
| | (m) | | |
| | (m) | | | | (m) | (m)|
(m)| | (g/t Au)| |
| | | | | | | | |
| | |
|----------------------------------------------------------------------------------------|
|Audet |Holes drilled according to the UTM Nad 83 zone 17 system
|
|area |
|
|----------------------------------------------------------------------------------------|
|CW-14-094|715450 |5340976 |229° |-45° |200 |97.6
|101.0|3.4 |1.43 |Audet|
|----------------------------------------------------------------------------------------|
|CW-14-095|715522 |5341055 |225° |-45° |249 |207.8
|208.5|0.7 |3.74 |Audet|
|----------------------------------------------------------------------------------------|
|CW-14-096|715591 |5341131 |226° |-45° |158 |No value above
86 ppb |
|----------------------------------------------------------------------------------------|
|CW-14-097|715663 |5341205 |225° |-45° |206 |48.8 |72.2
|23.4 |0.41 |Celta|
|----------------------------------------------------------------------------------------|
| | | | | |incl |66.2 |72.2
|6.0 |0.89 | |
|----------------------------------------------------------------------------------------|
| | | | | | |86.1
|87.9 |1.8 |1.56 | |
|----------------------------------------------------------------------------------------|
|CW-14-098|715135 |5341120 |226° |-70° |180 |51.8 |69.8
|18.0 |0.96 |Audet|
|----------------------------------------------------------------------------------------|
|CW-14-099|715119 |5341146 |227° |-45° |129 |30.1 |56.2
|26.1 |0.33 |Audet|
|----------------------------------------------------------------------------------------|
|CW-14-100|715049 |5341211 |228° |-45° |104 |11.2 |26.1
|14.9 |0.70 |Audet|
|----------------------------------------------------------------------------------------|
| | | | | |incl |11.2 |16.3
|5.1 |1.49 |Audet|
|----------------------------------------------------------------------------------------|
|CW-14-101|714856 |5341480 |211° |-45° |200 |104.7
|110.9|6.2 |0.26 |Audet|
|----------------------------------------------------------------------------------------|
|CW-14-102|714925 |5341607 |209° |-45° |296 |109.3
|113.9|4.6 |0.55 |Celta|
|----------------------------------------------------------------------------------------|
|CW-14-103|714985 |5341729 |210° |-45° |281 |255.5
|256.8|1.3 |0.81 |Celta|
|----------------------------------------------------------------------------------------|
|CW-14-104|714460 |5341677 |202° |-45° |251 |157.0
|161.9|4.9 |0.16 |Audet|
|----------------------------------------------------------------------------------------|
|CW-14-105|714500 |5341808 |199° |-45° |209 |53.8 |55.1
|1.3 |0.11 |Celta|
|----------------------------------------------------------------------------------------|
|CW-14-106|714544 |5341939 |203° |-45° |275 |180.7
|181.9|1.2 |0.72 |Celta|
|----------------------------------------------------------------------------------------|
|H zone |Holes drilled according to the UTM Nad 83 zone 17 system
|
|----------------------------------------------------------------------------------------|
|MH-14-082|721221 |5339551 |285° |-45° |137 |37.2 |39.3
|2.1 |1.23 |H |
|----------------------------------------------------------------------------------------|
|MH-14-083|721381 |5339544 |226° |-52° |233 |187.6
|188.8|1.2 |24.79 |H |
|----------------------------------------------------------------------------------------|
|MH-14-084|721312 |5339596 |232° |-45° |200 |26.2 |27.4
|1.2 |4.93 |Hb |
|----------------------------------------------------------------------------------------|
| | | | | | |78.6
|82.3 |3.7 |1.34 |Ha |
|----------------------------------------------------------------------------------------|
| | | | | | |135.5
|158.7|23.2 |1.02 |H |
|----------------------------------------------------------------------------------------|
| | | | | |incl |135.5
|148.9|13.4 |1.43 | |
|----------------------------------------------------------------------------------------|
|MH-14-085|721169 |5339751 |282° |-45° |101 |37.5 |41.1
|3.6 |0.13 | |
|----------------------------------------------------------------------------------------|
|MH-14-086|721267 |5339758 |281° |-45° |152 |101.0
|116.3|15.3 |0.94 |Hb |
|----------------------------------------------------------------------------------------|
|MH-14-087|721278 |5339805 |285° |-45° |128 |115.6
|116.8|1.2 |0.72 | |
|----------------------------------------------------------------------------------------|
|MH-14-088|721166 |5339864 |255° |-45° |161 |9.7 |22.1
|12.4 |0.42 |Hb |
|----------------------------------------------------------------------------------------|
| | | | | | |55.9
|60.4 |4.5 |0.54 | |
|----------------------------------------------------------------------------------------|
| | | | | | |123.2
|130.6|7.4 |1.08 |Ha |
|----------------------------------------------------------------------------------------|
| | | | | | |147.9
|159.5|11.6 |0.66 | |
|----------------------------------------------------------------------------------------|
|MH-14-089|721141 |5339916 |255° |-45° |152 |32.5 |36.3
|3.8 |1.03 |H |
|----------------------------------------------------------------------------------------|
|MH-14-090|721076 |5340062 |248° |-45° |120 |No value above
81 ppb |
|----------------------------------------------------------------------------------------|
|Marban Block holes drilled according to the Norlartic Grid
|
|----------------------------------------------------------------------------------------|
|NL-14-082|150 |-650 |211° |-45° |251 |115.1
|116.0|0.9 |2.97 | |
|----------------------------------------------------------------------------------------|
|NL-14-083|150 |-452 |211° |-45° |203 |No value above
67 ppb |
|----------------------------------------------------------------------------------------|
|NL-14-084|152 |-353 |211° |-45° |281 |114.0
|116.0|2.0 |2.50 | |
|----------------------------------------------------------------------------------------|
|NL-14-085|151 |-252 |210° |-45° |233 |153.0
|154.2|1.2 |1.91 | |
|----------------------------------------------------------------------------------------|
| | | | | | |212.2
|212.8|0.6 |1.30 | |
|----------------------------------------------------------------------------------------|
|NL-14-086|151 |-152 |211° |-45° |200 |55.0 |57.1
|2.1 |0.99 | |
|----------------------------------------------------------------------------------------|
| | | | | | |118.0
|120.3|2.3 |1.10 | |
|----------------------------------------------------------------------------------------|
|NL-14-087|154 |-49 |211° |-45° |200 |55.2 |56.4
|1.2 |1.05 | |
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A geological review of these results has been completed and a new exploration program has been prepared. Drilling will resume shortly with one drill and a second drill to follow in due course.
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 where complexities occurs), for the holes drilled on the Marban Block and the H zone and for the Audet area, true width is probably around 70% of the intersected length.
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 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 2 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 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 encompasses six 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, targeting expansion of the resource base.
NioGold invites you to visit the company website at www.niogold.com.
For information on contact:
NioGold Mining Corp.
Michael A. Iverson, President & CEO
miverson@niogold.com
Tel: (604) 856-9887
Dale Paruk, Vice-President Corporate Development
dparuk@niogold.com
Tel: (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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