Noble Mineral to acquire claims at MacDiarmid, Loveland

Jan 19, 2021

2021-01-19 13:31 ET – News Release

Mr. Vance White reports

EXPLORATION UPDATE: NOBLE ACQUIRES CLAIMS IN MACDIARMID AND LOVELAND TWPS – FORMS AN ALLIANCE WITH IEP

Noble Mineral Exploration Inc. has entered into a letter of intent with International Explorers and Prospectors Ltd. to acquire an additional 39 mining claims in MacDiarmid and Loveland townships that are contiguous to its existing claims that have been optioned to Canada Nickel Company Inc.

Noble Mineral and IEP are also establishing a strategic alliance to evaluate the extensive land package held by IEP that is nearby and commonly contiguous to Noble’s Project 81. Noble and IEP would now share contiguous boundaries in an area that is 200 kilometres by 100 kilometres.

The claims cover volcanic rocks of the Kidd Munro assemblage that have been periodically intruded by nickel-copper-(Ni-Cu)-bearing mafic to ultramafic intrusions. This assemblage hosts the world’s largest volcanogenic massive sulphide (VMS) deposit in Kidd Creek approximately 20 kilometres to the east and Ni-Cu deposits such as Enid Creek in Loveland township, and the Crawford nicle-cobalt-palladium (Ni-Co-Pd) deposit in Crawford township. The area is thus highly prospective for Ni-Cu, Ni-Co-Pd, gold and VMS deposits. Like other prospects in the Timmins region, the area is covered by thick glacial till and conductive clays (up to 50 metres) that hampered earlier exploration efforts.

While historic exploration data is available from the Ontario government, much of it on-line, IEP has access to unpublished exploration data that will be of great value in exploring MacDiarmid and Loveland townships. A mineral exploration research centre-industry consortium project is currently acquiring high resolution audio magneto-telluric (AMT) data within parts of this area to better understand the 3-D distribution of sulphide-bearing units.

Terms of the transaction are as set out below:

$25,000 cash;
250,000 common shares of Noble;
100,000 common shares of CNC (from Noble’s holdings); and
The transfer of $500,000 of assessment credits to IEP.

The transaction is subject to approval of the board of directors of each party and of the TSX Venture Exchange approval, as well as compliance with securities and other laws and regulations.

Vance White, president and chief executive officer of Noble, said: “We are extremely pleased to be able to acquire these assets from International Explorers, and to work with Lionel Bonhomme and his team at IEP, as this property ties directly onto the MacDiarmid option property, we have with Canada Nickel in MacDiarmid township. Further, this strategic relationship is the initial establishment with IEP who are, as you can see from the attached map, a significant land holder in close and contiguous proximity to Noble’s Project 81 lands, but more importantly IEP are also in possession of one of the largest exploration data sets of the Timmins camp. I am confident this will be a tremendous relationship.”

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 Inc.

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, 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/