Noble Mineral Exploration Releases Lucas Gold Project - NI43-101 Report (Review of the 2012 Diamond Drilling Program)
TORONTO, January 3, 2016 - Noble Mineral Exploration Inc. (the "Company") (TSX-V: NOB) is pleased to announce, the release of "Technical Report NI 43-101 Project 81, 2016 Update on the Lucas Gold Project (Review of the 2012 Diamond Drilling Program), Lucas, Duff, Tully Townships, Northern Ontario, Canada dated November 21, 2016" by Howard Lahti PhD, PGeo(NB) and Randy Singh BSc, PGeo(ON), PEng(ON).The Report addressed and shed light on the reason Noble's 2012 diamond drilling campaign of the Lucas Gold Project failed to identify the historical gold mineralized/resource zone and to duplicate published historical gold assay results.
Essentially, the error resulted from the digitization of the historical dataset that was originally in the NAD 27, Reference Datum Coordinate System and converted it to NAD 83, Reference Datum Coordinate System. However, successive contractor computer programs, automatically reconverted the entire dataset from NAD 83, Reference Datum Coordinate System back to NAD 27 Reference Coordinate Datum System, because the dataset was listed as "Historical Data" resulting in the glaring error of the 2012 diamond drill hole being spotted in the wrong location.
Noble's Management and Geological Teams are convinced that the historical gold mineralized/resource zone was completely missed in the 2012 Diamond Drilling Campaign and have every reason to believe a successful follow up campaign will corroborate earlier historical results.
Mineral Exploration Prospects, Project 81
In order to move the Company's mineral projects forward it has recently completed an updated prioritization of the geophysical targets on the Lucas Gold Project and the remaining main property of Project 81, located in the Timmins-Cochrane area, Northern Ontario, Canada. New Slide Presentations to this regard has been posted to the Company's website at www.noblemineralexploration.com which we would encourage you to visit and review. A number of strong drill ready base metals, VMS and gold targets have been identified throughout the Project Area, including on the Lucas Gold Project.
With better junior resource financial markets at hand it is contemplated that the Company would package its mineral assets into two distinct vehicles with one focused on its gold-related exploration assets and the other on its base metals, VMS and nickel assets. The gold related assets would include those identified in Project 81 in Lucas, Aubin and Dargavel Townships together with its residual interest in the Wawa-Holdsworth gold and silver project.
It is intended that the shareholders of Noble would be provided the opportunity to participate in both. Please note that any such transactions would be subject to Board and TSX Venture Exchange approvals.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 70,641 hectares of mineral rights in the Timmins - Cochrane areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan. More detailed information is available on the website at www.noblemineralexploration.com.
Qualified Persons:
Howard Lahti, PhD, P.Geo (NB) Independent Consulting Geologist and Randy Singh BSc. P.Geo (ON), P.Eng (ON) VP- Exploration & Project Development for Noble Mineral Exploration Inc., are "qualified persons" as such term as defined by National Instrument 43-101 have verified the data disclosed in this news release, and have otherwise reviewed and approved the technical information in this news release on behalf of Noble Mineral Exploration Inc.
Cautionary Statement:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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