Noble Mineral hiree suspends Project 81 survey

Aug 28, 2018

2018-08-27 11:07 ET – News Release

Mr. Vance White reports

PROJECT 81 EXPLORATION UPDATE: CGG COMMENCES FALCON GRAVITY GRADIOMETER SURVEY

Noble Mineral Exploration Inc. has been advised by Gedex that, due to technical issues, it has had to suspend indefinitely the airborne gravity gradiometer survey over Project 81 and, consequently, will be unable to complete the proposed survey in the near future. In the event it will not be able to carry on and complete the survey as proposed and under terms of the letter of intent entered into by Gedex and Noble, Noble has been advised that Gedex will refund “moneys previously received as advances on survey work that has not been performed.”

As a result of this development, Noble has contracted with CGG Multi-Physics for a Falcon (R) airborne gravity gradiometer and magnetics survey over certain areas within its large Project 81 area. The Falcon AGG technology is a gravity gradiometer system specifically designed for airborne survey use and provides a number of key advantages over other standard full tensor gradiometer (FTG) systems such as: lower noise, higher resolution and sensitivity, measured error and redundancy, and the highest production rate.

Noble is pleased to announce that the private investor group (joint venture partners) on the Carnegie township property has advised Noble that it also has contracted CGG Multi-Physics to carry out a Falcon gravity gradiometer and magnetics survey over Carnegie township property located approximately three kilometres north of the world-class Kidd Creek mine operated by Glencore.

Noble has also been advised by the JV partners that a systematic geological and geophysical evaluation of multiple airborne geophysical anomalies from the recently completed airborne electromagnetic and magnetic survey has commenced and upon completion of the airborne gravity gradiometer survey, additional evaluation of all gravity anomalies will be undertaken in order to confirm diamond drill hole target(s). The JV partners also plan to systematically drill all confirmed target(s). The JV partners also plan to undertake locating historical drill hole collars using a CST/Berger Magna-Trak (MT200) LCD metal locator unit.

Noble Mineral’s Project 81 is located within the Kidd-Munro assemblage of the western Abitibi subprovince in Ontario, and is one of the largest contiguous, underexplored land packages in Ontario. The assemblage is one of the most ultramafic-rich volcanic successions of any age in the world and is host to the Kidd Creek volcanogenic massive sulphide deposit, an important example of bimodal-mafic (ultramafic) volcanic-associated massive sulphide deposits.

Noble president and chief executive officer Vance White said: “We are disappointed with the performance of Gedex as we hoped to have had the proposed survey completed long before now. However, we recognize that the international reputation of CGG is world class and look forward to a quick turnaround time in getting the survey completed and the data analyzed. It is important to remember here that the world-class Kidd Creek deposit had a signature of a gravity anomaly associated with an EM high and a mag low geophysical anomaly. And also, that in many locations around the globe, VMS deposits occur in clusters as satellite VMS deposits to very large VMS deposits such as the Kidd.”

Randy S.C. Singh, PGeo, PEng, 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.

About the Falcon AGG system

CGG’s proprietary Falcon (R) airborne gravity gradient (AGG) system uses extremely sensitive accelerometers to produce low-noise, high-resolution gravity data from an airborne platform. Gravity data provide an image of the geology based on density variations in the underlying rocks. CGG globally operates six Falcon systems using both fixed-wing and helicopter platforms; Falcon is the only commercial AGG system specifically designed for airborne applications.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration is a Canadian-based junior exploration company that, in addition to its shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Holdsworth gold exploration property in the area of Wawa, Ont., holds in excess of 70,641 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold and base metal exploration targets at various stages of exploration.

We seek Safe Harbor.

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