NioGold Launches Metallurgical Testing Program and Boosts Drilling to 50,000 Metres on Marban
Val d'Or, Quebec / TheNewswire / February 19, 2015 - NioGold Mining Corp. (TSX-V: NOX OTCQX: NOXGF) ("NioGold") is pleased to announce that it has initiated a metallurgical testing program on the Marban gold deposit, on NioGold's 100% owned Marban Block property, that will include bottle-roll tests for a potential carbon leaching circuit as well as column leach tests to evaluate potential for an inexpensive in situ heap leach operation. All results are expected to be available before the end of Q3 2015.
Six gold-mineralized samples of about 100 kg each, ranging in average grade from 0.36 g/t to 2.03 g/t Au, were sent to SGS Canada Inc. for sixty-day column leach tests. Additionally, a series of fifty samples ranging in grade from 0.3 to 3.0 g/t Au will be sent to SGS for bottle-roll cyanidation tests by month's end. All samples are composed of gold-mineralized material hosted by sheared mafic to ultramafic volcanic units within the Marban deposit.
Finally, due to significant cost savings realized on the current 40,000 metres Marban infill drilling program (see news release dated January 16th, 2015 outlining results of the first fifteen holes), the program has been increased to 50,000 metres that will allow better definition along a 25 by 25 metre drilling pattern within the modelled open pit shell. This will result in a more reliable and potentially increased measured and indicated resource of the deposit in an updated resources estimate scheduled to be released in Q4 2015.
Technical Info, QA/QC and Qualified Persons
Drill program design and monitoring, core logging and sample preparation are being executed at NioGold's facilities in Val d'Or, 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. QA/QC program utilized is consistent with NI 43-101 and industry best practice standards. This news release was prepared by Mr. Ducharme.
NioGold Mining Corp. - << 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 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.
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