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Noble provides exploration update, earn-in on Carnegie Township properties and private placement
(via TheNewswire) Toronto, Ontario / TheNewswire / August 25, 2017 - Noble Mineral Explo...
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Noble provides exploration update, earn-in on Carnegie Township properties and private placement(via TheNewswire)\n \n \nToronto, Ontario / TheNewswire / August 25, 2017 - Noble Mineral Exploration Inc. (\"Noble\" or the \"Company\") (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF)\n\n\n \nHeliborne EM/Mag Survey:\n\n\n \nNoble is awaiting final results and interpretation from a 2100 line kilometers Heliborne EM and Mag survey executed by Balch Exploration Consulting Inc (\"BECI\") over Carnegie, Crawford, Prosser and Lucas Townships. These townships are the most southern townships on Project 81, that have not been previously flown with modern and proprietary airborne surveys. Carnegie Twp is located immediately north of the world-class Kidd Creek mine currently celebrating its 50th continuous year of production.\n\n\n \nThe object of the survey is to identify discrete conductors that could be located on the ground to follow up on historical drilling that exhibit copper-lead-zinc mineralization (e.g. Kidd-Creek style), nickel-copper sulphide mineralization, and gold mineralization that were the result of 1950's to 1970's airborne surveys, that could not accurately locate the conductors on the ground and as a result the best conductors of these anomalous trends were not drill tested.\n\n\n \nThe system used by BECI in this heliborne survey was the AirTEM-150, a compact and concentric helicopter time domain EM system that can penetrate to depths of 400 m with high resolution. Measurements of the three axes of the EM secondary field are measured in a full waveform mode and the resulting profiles are used to determine the size, orientation, conductance and depth of the anomalous source.\n\n\n \nOption and JV Agreement:\n\n\n \nNoble is also pleased to announce that it has entered into an Option and Joint Venture Agreement (the \"JV Agreement\") with a group of sophisticated private investors (the \"Optionees\") on 2,000 hecatares of lands located within Carnegie Township. Subject to the terms and conditions of the JV Agreement, the Optionees would earn a 51% interest (the \"Base Interest\") in certain targets based on the final results of the above referred to survey in Carnegie by carrying out exploration expenditures of $1 million within the first year of the JV Agreement. The Optionees would then have the right to exercise a second opti...