Noble Reports on Mann Township Results from Canada Nickel
· Issued by Noble Mineral Exploration Inc. via TheNewswire
(TheNewswire)
Toronto, Ontario – August 23, 2023
– Noble Mineral Exploration Inc.
(
“Noble”
or
the
“Company”
) (TSXV:NOB
) (
FRANKFURT:NB
)
(
OTC:NLPXF) is pleased to report a News
Release issued August 22 reporting results from Northwest Mann
Township currently under option to Canada Nickel as quoted
below:
“Canada Nickel
Confirms Discovery at Mann Northwest Property
Highlights
First eight holes drilled at Mann Northwest intersected
multi-hundred metre intervals of mineralized peridotite and minor
dunite across combined strike length of 2.7 kilometres
Target remains open in all directions
Mann Northwest target geophysical footprint of 6.0 km2
is more than triple the size of Crawford project footprint
Hole MAN23-02 returned 0.26% Ni over core length of 210
metres including 0.31% nickel over 33 metres. Hole ended with 0.52 g/t
Pt+Pd over 29 metres
TORONTO, August
22, 2023
–
Canada Nickel Company
Inc.
("
Canada
Nickel
" or the "
Company
") (TSXV: CNC) (OTCQX: CNIKF) today released drilling
results from a further three holes and assay results from the first
five of eight holes drilled on its Mann Northwest Property located in
the prolific Timmins Nickel District in Ontario.
Mark Selby, CEO of Canada Nickel commented, “Our regional
exploration program continues to deliver with today’s confirmation
of another discovery at Mann Northwest, part of Canada Nickel’s
Timmins Nickel District. Mann Northwest has a target footprint more
than three times that of Crawford and is one of eleven properties with
a target footprint larger than Crawford. Three additional holes
extended the strike length of mineralization by more than 1,100 metres
to 2,650 metres, and assays from first five holes confirmed grades in
line with expectations.”
Mann Northwest
Property
The Mann property is located 22 kilometres east of Crawford, 20
kilometres south of Cochrane, and 45 kilometres northeast of Timmins.
Canada Nickel has an ability to earn an 80% interest in the property
owned by Noble Minerals (see press release November 22, 2021).
Drilling began at Mann Northwest, which has a target footprint of 6.0
km2, - compared to Crawford target footprint of 1.6 km2 (see Figure
1).
Drilling started in the Northwest zone, with a total of eight holes
drilled, all of them intersecting mineralized sections of
predominantly well serpentinized peridotite and minor dunite. This
release discloses assay results from the first five drillholes, assays
for the other three drillholes are pending
(Table 1)
The first five holes delineated mineralization along 1,150 metres of
strike length and a width of at least 500 metres. The additional three
holes, extended the potential strike length to 2,650 metres. The
target remains open in all directions.
MAN23-01 drilled to the southwest and intersected
peridotite from top to bottom only interrupted by 23.5
metres of pyroxenite with 0.44 g/t Pt+Pd. Initial samples were taken
for mineralogical testing (QEMSCAN),
confirming samples are very well serpentinized with varying amounts of
Heazlewoodite and Pentlandite.
MAN23-02 intersected 348.5 metres at 0.23% Ni in peridotite and
finished in 28.9 metres of 0.52g/t Pt+Pd
in pyroxenite.
MAN23-03 drilled to the northeast and intersected mineralized
peridotite at the top and dunite at the
bottom, with an average grade of 0.23% Ni over 291.5 metres. The hole
ended in dunite at 402 metres only
interrupted by diabase dykes near the bottom.
MAN23-04 drilled near the southern end of the target and intersected
301.5 metres of peridotite with 0.18%
Ni, followed by 16 metres of 0.41 metres of Pt+Pd in pyroxenite.
MAN23-05 drilled to the southwest and intersected a sequence of
peridotite with minor dunite and
pyroxenite. The hole assayed 366.5 metres of 0.20 Ni, including 11.0
metres of 0.44 g/t Pt+Pd. Hole ended
in mineralized peridotite.
MAN23-13 drilled to the southwest approximately 750 metres northwest
of MAN23-05. The hole
intersected 404.5 metres of interlayered dunite, peridotite and
pyroxenite with predominantly moderate
to strong serpentinization.
MAN23-14 drilled to the northeast collaring and terminating in
mineralized dunite with intervals of
peridotite. The hole is moderate to well mineralized and moderate to
well serpentinized across core
length of 390.0 metres.
MAN23-15 drilled to the northeast testing a fold hinge of a major
structure, it intersected 415 metres of a
sequence of dunite, peridotite, pyroxenite and gabbro. The hole has
sections of very well mineralized and
well serpentinized ultramafic.
Table 1: Mann
drilling downhole composite
Click Image To View Full Size
Stephen J. Balch P.Geo. (ON), VP Exploration of
Canada Nickel and a "qualified person" as 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 this news release on behalf of Canada Nickel Company
Inc.
The magnetic images shown in this press release were created from
Canada Nickel's interpretation of datasets provided by the Ontario
Geological Survey.
About Canada
Nickel Company
Canada Nickel Company Inc. is advancing the next
generation of nickel-sulphide projects to deliver nickel required to
feed the high growth electric vehicle and stainless-steel markets.
Canada Nickel Company has applied in multiple jurisdictions to
trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM
and is pursuing the development of processes to allow the production
of net zero carbon nickel, cobalt, and iron products. Canada Nickel
provides investors with leverage to nickel in low political risk
jurisdictions. Canada Nickel is currently anchored by its 100% owned
flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the
prolific Timmins-Cochrane mining camp. For more information, please
visit
www.canadanickel.com
.
This press release contains certain information that
may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward looking
information includes, but is not limited to, the carbon capture
approach could allow production of Net Zero nickel and generation of
an additional tonnes of CO2 credits per tonne of nickel produced after
offsetting all emissions, the potential to turn nickel mine into a
generator of carbon credits rather than generator of carbon emissions,
the production of estimated average of 710,000 tonnes of carbon
credits annually and 18 million total tonnes of CO2 of credits over
expected life of mine at Crawford, the ability to monetize carbon
credits, the ability to quantify carbon capture, emission estimates,
the brucite content of the deposit, the scalability of the process,
the metallurgical results, the timing and results of the feasibility
study including the viability of the inclusion of the IPT Carbonation
Process and related facilities as part of the project, the results of
Crawford’s PEA, including statements relating to net present value,
future production, estimates of cash cost, proposed mining plans and
methods, mine life estimates, cash flow forecasts, metal recoveries,
estimates of capital and operating costs, timing for permitting and
environmental assessments, realization of mineral
resource estimates, capital and operating cost estimates,
project and life of mine estimates, ability to obtain permitting by
the time targeted, size and ranking of project upon achieving
production, economic return estimates, the timing and amount of
estimated future production and capital, operating and exploration
expenditures and potential upside and alternatives. Readers should not
place undue reliance on forwardlooking statements. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Canada Nickel to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. The PEA results are estimates only and
are based on a number of assumptions, any of which, if incorrect,
could materially change the projected outcome. There are no assurances
that Crawford will be placed into production. Factors that could
affect the outcome include, among others: the actual results of
development activities; project delays; inability to raise the funds
necessary to complete development; general business, economic,
competitive, political and social uncertainties; future prices of
metals or project costs could differ substantially and make any
commercialization uneconomic; availability of alternative nickel
sources or substitutes; actual nickel recovery; conclusions of
economic evaluations; changes in applicable laws; changes in project
parameters as plans continue to be refined; accidents, labour
disputes, the availability and productivity of skilled labour and
other risks of the mining industry; political instability, terrorism,
insurrection or war; delays in obtaining governmental approvals,
necessary permitting or in the completion of development or
construction activities; mineral resource estimates relating to
Crawford could prove to be inaccurate for any reason whatsoever;
additional but currently unforeseen work may be required to advance to
the feasibility stage; and even if Crawford goes into production,
there is no assurance that operations will be profitable. Although
Canada Nickel has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. Forward-looking statements
contained herein are made as of the date of this news release and
Canada Nickel disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events or
results or otherwise, except as required by applicable securities
laws. Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Delivering the Next Generation of
Nickel”
Vance White, President & CEO said: ”we are very
pleased to see the work on another Canada Nickel optioned property. We
look forward to
additional results to come
from the ground optioned to Canada Nickel that
should be forthcoming in the near term.”
About Noble Mineral Exploration
Inc.
Noble Mineral Exploration Inc. is a Canadian-based
junior exploration company which, in addition to its shareholdings in
Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals
Corp. and MacDonald Mines Exploration Ltd., and its interest in the
Holdsworth gold exploration property in the area of Wawa, Ontario,
will continue to hold ~20,000 hectares of
mineral rights in the Timmins-Cochrane areas of Northern Ontario known
as Project 81, as well as an additional ~11,000 hectares in the
Timmins area and ~14,400 hectares of mining claims in Central
Newfoundland. Project 81 hosts diversified drill-ready gold,
nickel-cobalt and base metal exploration targets at various stages of
exploration. It will also hold its ~14,600 hectares in the Nagagami
Carbonatite Complex and its ~4,600 hectares in the Boulder Project
both near Hearst, Ontario, as well as its ~482 hectares in the
Cere-Villebon Nickel, Copper, PGM property, its ~3,700 hectares in the
Buckingham Graphite Property, its ~10,152 hectares in the Havre St
Pierre Nickel, Copper, PGM property, its ~518 hectares in the
Laverlochere Nickel, Copper, PGM property, all of which are in the
Province of Quebec. More detailed information is available on the
website at:
https://www.noblemineralexploration.com
Noble’s common shares trade on
the TSX Venture Exchange under the symbol “NOB.”
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein.
The foregoing information may contain forward-looking
statements relating to the future performance of Noble Mineral
Exploration Inc. Forward-looking statements, specifically those
concerning future performance, are subject to certain risks and
uncertainties, and actual results may differ materially from the
Company’s plans and expectations. These plans, expectations, risks
and uncertainties are detailed herein and from time to time in the
filings made by the Company with the TSX Venture Exchange and
securities regulators. Noble Mineral Exploration Inc. does not assume
any obligation to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
