Noble Mineral JV partner begins geophysics at Carnegie

May 11, 2021

2021-05-11 10:41 ET – News Release

Mr. Vance White reports

PROJECT 81 EXPLORATION UPDATE – CARNEGIE TWP.: JV PARTNER ANNOUNCES DOWN HOLE GEOPHYSICS AND PROPOSED ADDITIONAL DRILLING PROGRAM

Noble Mineral Exploration Inc. has been advised by its option and joint venture partner on Carnegie township that an exploration program consisting of downhole geophysical electromagnetic surveys of three drill holes completed in 2019 and 2020 is under way with the following objectives to retrieve a geophysical probe that is blocking hole CG19-09 in order to complete the survey from 2020. Plans are to clear hole CG19-09 and hole CG19-06 and drill a proposed hole near CG19-08 as suggested by Crone Geophysics and further to follow up with a drill program to test all drill targets outlined by the down hole survey.

As reported in December, 2020, at Carnegie the partners drilled a total of 10 holes totalling 2,889.45 metres to test conductive trends interpreted from a 2017 Airborne electromagnetic and mag survey of 2,081 line kilometres, that included the Carnegie township and a follow-up 2019 orientation EM and mag Survey of 379.8 line kilometres flown in the northern part of Carnegie township, in addition to a 934.4-line-kilometre gradient gravity survey flown in 2018. Four holes encountered anomalous zinc and copper mineralization with CG19-01 intersecting 12 metres of 0.64 per cent zinc mineralization over 12 metres (core length) from 219 m to 231 m, containing three m of 1.38 per cent zinc from 223 m to 226 m that required reassay. Drill hole CG19-09 assayed 0.72 per cent zinc and up to 0.2 per cent copper over 2.75 m from 282.6 m to 285.35 m. Drill hole CG19-03 encountered up to 20 m of massive to semi-massive sulphide containing anomalous but low-grade zinc.

As a result of the expenditure of approximately $1.1-million, the option and JV partner has earned a 51-per-cent interest in approximately 1,422 hectares with a right to earn into an additional 578 hectares of mineral rights. The partner can earn an additional 24-per-cent interest through the expenditure of $1-million prior to December, 2022, after which time it will become a joint venture with Noble on a 75/25 basis.

Vance White, president and chief executive officer of Noble, is quoted as saying: “We are very pleased that our Carnegie partners will continue with additional work on the Carnegie targets. Noble will continue its business model of project generator by seeking additional option and JV partners to our extensive approximately 72,000 ha land holdings”.

William E. MacRae, MSc, PGeo, a qualified person as such term is defined by National Instrument 43-101, has supervised the field program and 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 the JV partners and Noble Mineral Exploration.

Randy S. C. Singh, PGeo (ON), PEng (ON), vice-president of exploration and project development of Noble, and a qualified person as such term is defined by National Instrument 43-101, has relied exclusively on the JV partner QP personnel in verifying the technical data disclosed in this news release on behalf of Noble Mineral Exploration.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ont., holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration.

We seek Safe Harbor.

https://noblemineralexploration.com/