Noble Mineral receives $200,000 Ontario gov’t grant

Nov 8, 2021

2021-11-08 12:14 ET – News Release

Mr. Vance White reports

EXPLORATION UPDATE: NOBLE TO RESUME DRILLING ON THE DARGAVEL-AUBIN TOWNSHIP GOLD PROPERTY NEAR COCHRANE, ONTARIO, RECEIVES OJEP GRANT FROM THE ONTARIO GOVERNMENT

Due to favourable results from the 2020 drill program in Dargavel township and a comprehensive compilation of historical work in the region, Noble Mineral Exploration Inc. has recommended additional drilling to further define gold mineralization in the area. Induced polarization, magnetic and VLF-EM (very low frequency electromagnetic) surveys have been completed in the vicinity of the 2020 drilling to help interpret previously detected mineralized zones and to assist in the locating new drill targets. A 4,000-metre drill program is expected to begin in January, 2022, when snow conditions and frozen ground will allow easier movement of the drill rig. The Dargavel property is owned 100 per cent by Noble subject to a 50/50 option/joint venture with a private investor and to a 2-per-cent net smelter royalty held by Franco Nevada.

Previous drilling by Noble identified gold mineralization over a strike length of 7.5 kilometres, open in both directions. In addition, the true width of the zone has not been determined as evidenced by the fact that drill hole DAR-20-06 ended in mineralization after cutting more than 18 metres of gold mineralized core. Very little work has been done in the past in Dargavel township due to the heavy overburden cover and the fact that the area was not open for traditional staking due to the predominance of patented claims in the area. Compilation of all data in the area has revealed that the gold mineralization in the area appears to be controlled by faulting and iron formation units in close proximity to a granodiorite intrusive contact. The granodiorite contact zone forms a gold exploration target that is approximately 30 km in length.

There is also evidence that the granodiorite itself may contain significant gold mineralization. Rio Algom undertook drilling in 1991 that resulted in:

Hole AU-91-22 that assayed 0.50 g/t Au over 3m core length in granodiorite mineralized with chalcopyrite and pyrite.

Hole AU-91-19, drilled approximately 125m south of AU-91-22, assayed 0.34 g/t Au over 1.7m core length in granodiorite.

A 2011 airborne survey flown by Noble has detected numerous magnetic and conductive zones in the interior of the granodiorite that to date have not been tested by diamond drilling.

The granodiorite contact area and the interior of the granodiorite creates a potential target area of about 200 square kilometres.

In addition to gold values, the drilling also assayed 1.51 g/t combined platinum and palladium over 1.5 metres core length associated with gold mineralization in Hole DAR-20-05. Past work in the township has also detected nickel, cobalt and platinum group plus volcanogenic massive sulphide mineralization.

The Ontario Government has given Noble a ‘vote of confidence’ in the Dargavel Project by granting a $200,000 grant to carry out work on the project under the Ontario Junior Exploration Program. The program was created to stimulate exploration in the junior mining sector in the Province of Ontario. The grant will match an equal expenditure by Noble on the property and will be paid upon completion of the proposed program.

Recent compilation work completed by Noble has found the following areas of interest in Dargavel and Aubin Townships (Note these results are historical).

Hudbay K-81-4 (1981): Hole K-81-4 intersected graphitic schist that assayed 0.93 g/t Au over 1.3m . The hole shows also some anomalous values in Zn.

Chevron 85-3 (1985): Hole K85-3 intersected massive sulphides with garnet and chlorite assayed up to 0.81 g/t Au over 4m.

INCO 25013 (1964): Hole 25013 intersected a fragmental rhyolite with sulphide stringers and quartz veining which gave assays of 0.56 to 3.05 g/t Au and 2.86 g/t Pt . An iron formation with quartz veining and sulphides assayed 0.56 g/t Au over 1.8m.

INCO 25016 (1964): Hole 25016 intersected a fragmental rhyolite which assayed 0.44 g/t Au over 0.61m.

Chevron 85-10 (1985): Hole K85-10 intersected a mafic metavolcanic rock which assayed for 0.47 g/t Au over 0.5m.

Chevron 85-4 (1985): Hole K85-4 intersected a biotite rich quartz porphyry ( 2.5m at 0.56 g/t Au) , a quartz-feldspar porphyry (0.37 g/t Au over 2m) , an amphibolitic gneiss (1.75m, assays up to 1.55 g/t Au) , and a chlorite schist (3m, assays up to 0.68 g/t Au).

Chevron 85-9 (1985): Hole K85-9 intersected a mafic metavolcanic unit with a progressive transition of chlorite to biotite, resting on a quartz vein, which assayed 1.18 and 1.37 g/t Au over 1m.

Chevron 85-7 (1985): Hole K85-7 intersected sediments and quartz porphyries, which returned assays from 0.31 to 2.05 g/t Au.

Chevron 84-1 (1984): Sample at 94.8m in metasediments, mineralized with pyrite and chalcopyrite, assayed 0.96 g/t Au . Sample at 136.1m in qtz-greywacke, assayed 2.95 g/t Au . This sample was adjacent to the contact with sheared, silicified, seriticized, carbonatized porphyry.

Chevron 84-4 (1984): Best assay obtained was 1.74 g/t Au at 209.3m, from a tuffaceous wacke mineralized with 10-15% pyrite, trace chalcopyrite and cut with qtz-chlorite veining. Additional assay results (Au): 0.65 g/t at 121m; 0.84 g/t at 123.7m; 0.72 g/t at 130m; 0.84 g/t at 141m; 1.12 g/t at 196m .

Rio Algom NE-90-10 (1990): Assay results: 0.69 g/t Au and 0.23% Cu over 1.9m at 147.8m, in iron formation mineralized with magnetite, pyrite and chalcopyrite.

Rio Algom AU-91-22 (1991): Sample from hole AU-91-22 assayed 0.50 g/t Au over 3m in granodiorite mineralized with chalcopyrite and pyrite. Hole AU-91-19, drilled approximately 125m south of AU-91-22, returned 0.34 g/t Au over 1.7m in granodiorite .

Rio Algom NE-91-14 (1991): Assay results: 0.98 g/t Au over 1.5m at 107.8m at contact between mafic and ultramafic metavolcanic mineralized with pyrite, trace chalcopyrite and qtz-chlorite-feldspar veining with 15% py at contact; 1.36 g/t Au over 1.10m at 110.8m in altered ultramafic rocks.

Inco 27089 (1966): Assays returned 8.40 g/t over 0.30m , from a sheared, carbonated, siliceous zone between meta-dacite/andesite and 0.46 g/t Au over 10.70m in meta-rhyodacite plus 1.13 g/t Au over 6.46m.

* True widths not known at this time

Vance White, President and CEO of Noble, said “We are excited to continue the exploration on the Dargavel Township Property. Previous work carried out by Noble on the property detected gold mineralization in the five out of six holes drilled. What was not defined by the last program was the strike length of the zone or the width of the zone. The present program of geophysics and diamond drilling will help to define these unknowns.”

Michael Newbury P.Eng. (ON), 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 Noble Mineral Exploration Inc.:

Noble Mineral Exploration Inc. 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, Ontario, holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81 as well as an additional ~11,000 hectares in the Timmins area. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It also owns the Buckingham Graphite Property, the Laverlochere Nickel, Copper, PGM property and the Cere-Villebon Nickel, Copper PGM property all of which are in the province of Quebec. More detailed information is available on the website.

We seek Safe Harbor.

https://noblemineralexploration.com/