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Project 81: Exploration Update - Noble to Drill Dargavel Twp Gold Targets
Toronto, Ontario - TheNewswire - May 4, 2020 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) Noble is pleas
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Toronto, Ontario - TheNewswire - May 4, 2020 - Noble Mineral Exploration Inc. (\"Noble\" or the \"Company\") (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) Noble is pleased to announce that it has contracted NPLH Inc., to commence an initial 1000m drill campaign on the Dargavel Township Gold Targets, which forms part of Project 81 and is located in Dargavel Township north of Timmins, Ontario, Canada. The program is designed to test approximately 6.5km strike length of a well-defined structural feature identified by Airborne Magnetic & Electromagnetic Surveys completed in 2012 and in follow-up orientation EM & Mag surveys in 2017. This structure was drill tested in the 1960's (Table1) and is located within a structurally complex setting and comprise of a series of volcanics and sediments wedge between two (2) large felsic intrusive bodies. (Figures 1 & 2). Noble believes that the historical drill holes, based on 1950's airborne surveys and the lack of GPS positioning at that time, did not test the best targets/anomalies within these structures. Target Hole From (metres) To (metres) Mineralized Zone (metres) Grade (g/t) T-85 25013 59.8 67.0 7.2 1.8 Incl. 60.9 61.4 0.5 5.31 Incl. 65.6 67.0 1.4 3.06 25016 90.8 91.4 0.6 0.4 T-40 K85-4 226.0 228.0 2.0 1.2 Table 1. Historical Drill Results (non NI 43-101 compliant) Figure 1. Geology with historical drill hole Figure 2. Geophysical Trends and profiles. The funding for this program is being provided 50% by Noble and 50% by a private investor. Noble has agreed with the investor that if the outcome of the program is positive, Noble will enter into good faith negotiations with the investors to enter into an option and joint venture agreement that would recognize the investors and Noble as each holding their respective interests in the drilled property, subject to standard dilution provisions to the extent that either does not fund future maintenance and exploration expenditures. All agreements between Noble and the investors are subject to compliance with TSX Venture Exchange policies. Randy S.C. Singh P.Geo (ON), P.Eng (ON) VP- Exploration & Project Development a \"qualified person\" as such term is defined by National Instrument 43-101 has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in t...