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Exploration Update: Noble Closes Acquisition of 50% Interest in Claims in Carnegie, Kidd, Wark and Prosser Townships near Timmins, Ontario
(TheNewswire) Toronto, Ontario – TheNewswire - October 5, ...
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Exploration Update: Noble Closes Acquisition of 50% Interest in Claims in Carnegie, Kidd, Wark and Prosser Townships near Timmins, Ontario\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Toronto, Ontario –\n \n \n TheNewswire -\n \n \n October 5, 2021 – Noble Mineral\nExploration Inc.\n \n \n (\n \n \n “Noble” or the\n“Company”\n \n \n ) (TSXV:NOB\n \n \n )\n \n \n ,\n \n \n (\n \n \n FRANKFURT:NB7\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:NLPXF) is pleased to\nannounce that it  is in the process of closing a Purchase and Sale\nAgreement in a 50/50 partnership with 11530313 Canada Inc\n(\n \n \n “\n \n \n 11530313”) to\nacquire 317 patented and tenure\n \n \n identified\n \n \n mining claims\n \n \n (the “Claims\n \n \n ”\n \n \n )\n \n \n in Carnegie, Kidd, Wark and Prosser Townships totaling\n \n \n about\n \n \n 6,600 hectares\nformerly held by Explor Resources, a wholly owned subsidiary of\nGalleon Gold Corp. (“\n \n \n Galleon\n \n \n ”)..\n \n \n \n \n Pursuant to the terms of the Agreement, 11530313 has\npaid $250,000 to Galleon, and Noble is issuing to Galleon 2,000,000\ncommon shares of Noble (the “\n \n \n Noble Shares\n \n \n ”).  At closing, Noble and\n11530313 will each have a 50% ownership of the Claims. The transaction\nhas received final approval from the TSX Venture Exchange and approval\nof the Board of Directors of Noble. The Noble Shares will be subject\nto a four month hold period under applicable Canadian securities\nlaws.\n \n \n \n \n The Claims cover volcanic rocks of the Kidd Munro\nassemblage that have been periodically intruded by\n \n \n Nickel Copper (“Ni-Cu”)\n \n \n bearing\nmafic to ultramafic intrusions. This assemblage hosts one of the\nworld’s largest\n \n \n volcanogenic massive sulphide\n(“\n \n \n VMS\n \n \n ”)\n \n \n deposit at Kidd Creek approximately 3 km to the south and\nNi-Cu deposits such as Enid Creek in Loveland Twp., and the Crawford\nNi\n \n \n ckel\n \n \n -Co\n \n \n balt\n \n \n -P\n \n \n alladium\n \n \n deposit in Crawford Twp.\n \n \n The Kidd Creek Mine has produced in excess of\n150 million tonnes of copper and zinc ore since 1966.\n \n \n The area is thus highly prospective for both Ni-Cu and VMS\ndeposits. Like other ...