Business
Noble Mineral Exploration Inc: PROJECT 81 Exploration Update - Carnegie Twp.: JV Partner Announces Drilling Results and Proposed Additional Drilling
Toronto, Ontario - TheNewswire – December 21, 2020 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) is pleased
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Toronto, Ontario - TheNewswire – December 21, 2020 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) is pleased to announce that it has been advised by its Option and JV partner on Carnegie Township the results of the 2019--2020 exploration programs. At Carnegie a total of ten holes totaling 2,889.45m were drilled to test conductive trends interpreted from a 2017 Airborne EM & Mag Survey of 2081 line km, that included the Carnegie township and a follow-up 2019 Orientation EM & Mag Survey of 379.8 line kilometer flown in the northern part of Carnegie Twp., in addition to a 934.4 line kilometer Gradient Gravity survey flown in 2018. Four holes encountered anomalous zinc and copper mineralization with CG19-01 intersecting 12.0 m of 0.64% zinc mineralization over 12 metres (core length) from 219.0 m to 231.0 m containing 3.0 m of 1.38% zinc from 223.0 m to 226.0 m that required re-assay. Drill hole CG19-09 assayed 0.72% zinc and up to 0.2% 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 ~$1.1 million the Option and JV Partner has earned a 51% interest in ~1,422ha with a right to earn into an additional 578ha of mineral rights. They have also advised that additional down-hole geophysics and drilling are planned for the upcoming winter drilling season whereby the partner can earn an additional 24% interest through the expenditure of $1million prior to December 2022 after which time it will become a Joint Venture with Noble on a 75/25 basis. The follow-up drill program is planned to continue exploration in the area around CG19-01 as well as additional targets. Vance White, President and CEO 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 ~72,000ha 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...