Noble Mineral begins drilling Project 81’s Calder

Apr 16, 2020

2020-04-16 08:03 ET – News Release

Mr. H. Vance White report

PROJECT 81: EXPLORATION UPDATE DRILLING COMMENCES ON CALDER TWP GOLD TARGET

Drilling has commenced on the Calder gold target, which forms part of Noble Mineral Exploration Inc.’s Project 81 and is located in Calder township north of Timmins, Ont., Canada. The program is designed to test a prominent untested structure identified by an airborne electromagnetic-magnetic survey flown in 2018 by BECI.

The Calder EM trend is an approximately 900-metre-long structure that has a very discrete bedrock conductor within a structurally complex zone and has favourable geology interpreted from airborne magnetics. The geology has been interpreted to be steeply dipping to the northeast. Overburden thickness in the area is believed to be approximately 30 to 50 m and the hole is designed to intersect the conductor at approximately 75 to 100 m vertical depth. Follow-up drilling will be contingent on the results from this drill hole.

The financing for this program is being provided 50 per cent by Noble and 50 per cent by a private investor. Noble has agreed with the investor that if the outcome of the program is positive, Noble will enter into good faith negotiations with the investor to enter into an option and joint venture agreement that would recognize the investor and Noble as each holding an 50/50 interest in the drilled property, subject to standard dilution provisions to the extent that either does not finance future maintenance and exploration expenditures. All agreements between Noble and the investor are and will be subject to compliance with TSX Venture Exchange policies.

Randy S.C. Singh, PGeo (Ontario), PEng (Ontario), vice-president of exploration and project development, a qualified person as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.

We seek Safe Harbor.

https://noblemineralexploration.com/