Business
Noble Completes Acquisition of Nagagami Claims near Hearst, Ontario
(TheNewswire) Toronto, Ontario – TheNewswire - April 6, 20...
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Noble Completes Acquisition of Nagagami Claims near Hearst, 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 April 6, 2022 –\n \n \n Noble Mineral Exploration Inc.\n \n \n (\n \n \n “Noble”\n \n \n or the\n \n \n “Company”\n \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) announced that it has entered into an agreement\nwith six parties (the \"\n \n \n Vendors\n \n \n \") to acquire approximately 695\nmining claims (the\n \n \n “Claims”\n \n \n ) near Hearst, Ontario, covering\nan area of approximately 144 square km (the\n \n \n “Transaction”\n \n \n ).\n \n \n \n \n The Transaction will provide Noble with control over a\ncontiguous area of ~\n \n \n 14\n \n \n km\nby ~\n \n \n 12.5\n \n \n km.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Figure 1: Comparison of the Nagagami Complex to the\nNiobec Mine in Quebec.  Background on both images is residual\nmagnetic field.\n \n \n \n \n Transaction Terms\n \n \n \n \n Pursuant to the Transaction,\n \n \n Noble will acquire the Claims through\n \n \n the\nissuance of 500,000 common shares of Noble which will be subject to a\nfour month hold period.\n \n \n \n \n Under the Transaction, the Vendors will retain a 2% NSR\nwith Noble having the right to buy back 50% of the royalty for\n$1,000,000. The Transaction is subject to approval of the Company’s\nBoard of Directors and the TSX Venture Exchange.\n \n \n \n \n Highlights of the Nagagami Property\n(See Noble Press Release Dated Dec. 16, 2021)\n \n \n \n \n \n \n The exploration model for the\n \n \n Nagagami Carbonatite/Alkalic Complex\n \n \n is\nbased on a Niobec-style of mineralization (Quebec), where Niobium has\nbeen produced since 1976 and\n \n \n there is also a\n \n \n Rare Earth\n \n \n Element\nresource.  In December 2013 Niobec reported a mineral resource\nestimate as:\n \n \n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Table 1: Mineral Resource Estimates for the Niobec Mine\nset out in an Iamgold NI 43-101 Technical Report, Update on Niobec\nExpansion, December 2013. Note: Mineral Resource is not a Mineral\nReserve and do not have any demonstrated economi...