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Toronto, Ontario – TheNewswire – August 25, 2020 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) is pleased to announce that, it has executed an agreement with MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald”) to acquire all of MacDonald’s interest in the Holdsworth gold property (the “Property”), located 25 kilometres northeast of Wawa, Ontario in Corbiere and Esquega Townships.
As payment for the Property, Noble will issue to MacDonald 4,000,000 common shares (the “Shares”) of Noble, as well as 2,000,000 warrants (the “Warrants”) expiring 3 years after issuance and exercisable at $0.15 per common share of Noble. Noble and MacDonald have agreed that the Shares are valued at $0.07 per Share. Noble’s common shares closed at $0.09 on August 21, 2020. The Shares and the Warrants will be subject to a 4 month hold period.
The Property was held by Noble until it was sold to MacDonald in transactions completed in 2016 and 2017. Noble’s repurchase of the Property remains subject to TSX Venture Exchange approval.
“We are pleased to have reacquired this project to add to our gold holdings portfolio in light of the work carried out by MacDonald and the discovery of a new shear zone which will need additional follow up. Also, we have recently taken ~450kg samples of the Oxide Sands on the Property from various pits and trenches, which have returned assay results for Gold (Au) of 3.42-7.93g/t and 15.0 – 73.9 g/t for Silver(Ag). One 25kg. sample has been sent out for testing to a facility in Montreal to determine if it can be converted to a concentrate from which the gold and silver can be recovered. If the testing is determined positive and with gold prices at a current ~Cdn$2,500/oz, the Holdsworth Oxide Sands property may prove to be a near term source of cash flow.”
Vance White, President and CEO of Noble Mineral Exploration
Qualified Person
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 this news release on behalf of Noble.
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. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. More detailed information is available on the website at www.noblemineralexploration.com.
Property Location and Ownership
The Holdsworth Property consists of 19 contiguous patented mining claims (the “Holdsworth Claims”) covering some 304 hectares. Sixteen of these are located in the extreme southern part of Corbiere Township and the remaining three extend into the northern part of Esquega Township, Hawk Junction, District of Algoma, Wawa Area, Sault Ste. Marie Mining Division, Ontario.
The Holdsworth Property is the potential to host Gold and Silver mineralization within three (3) distinct geological environments namely:
Ownership
Noble has recently disposed of its interest in the Wawa Holdsworth project for consideration totaling:
• 8,000,000 treasury shares of MacDonald Mines Exploration Ltd;
• 8,000,000 3 yr warrants of MacDonald (2.5mm exercisable at $0.15 per wt plus 5.5mm exercisable at $0.30 per wt);
• 10% gold streaming from production of the Holdsworth Oxide Sands up to 5,000 ozs. of gold;
• 1.5% NSR on the property (subject to a 50% buyback for $500,000)
The property has the potential to host Gold and Silver mineralization within three (3) distinct geological environments namely:
• Lode Gold in traditional quartz veins, known as the “The Soocana Vein”,
• An oxidized cap at surface developed over a massive pyrite zone (Algoma Iron Formation) known as the “The Oxide Sands”, and
• The precursor to the Oxide Sands – a massive pyrite zone (Algoma Iron Formation) at depths, known as “The Massive Sulphide”.
For more current information, go to the MacDonald website at: http://www.macdonaldmines.com/news/2017/
2017
For currently news on this property, go to the MacDonald website at http://www.macdonaldmines.com/news/2017
2016
“Highlights from MacDonald’s initial sampling program include:
• The discovery of a new gold-bearing shear zone next to the old CN railway line (image 1) sample containing 5.36 g/t gold; and
• The Company (MacDonald) has determined that the known gold mineralized zones at Wawa-Holdsworth are part of a 500-metres wide corridor with multiple zones of deformation and hydrothermal alteration that are considered favourable for gold mineralization.
Quentin Yarie, MacDonald’s President and CEO commented: “We are excited that with the limited time spent on the property since the announcement of the Option Agreement, our experience in the Wawa Gold Camp has led to the discovery of a gold-mineralized shear zone next to a railway line that has been used for decades. The observation of numerous deformation and alteration zones in a 500-metres wide corridor suggests that the gold system at Holdsworth is much larger than what previous exploration results indicate. Results to date are exciting and we are looking forward to further the development of this very promising project.”
Results from the initial sampling program
This sampling and mapping program led to the discovery of a gold-bearing shear zone located alongside the old CN railway in the southern part of the property. The discovered gold-bearing shear zone is formed close to the contact between a volcanic sequence and a composite porphyritic intrusion. This sampling and mapping program also indicates that the previously known zones of gold mineralization of the Wawa-Holdsworth Project are part of a much larger deformation and alteration corridor that is now defined over a width of 500 metres.
The main zones of gold mineralization of the Wawa-Holdsworth Project include:
• Lode Gold in traditional quartz veins, known as the “The Soocana Vein”,
• An oxidized cap at surface developed over a massive pyrite zone (Algoma Iron Formation) known as the “The Oxide Sands”, and
• The precursor to the Oxide Sands – a massive pyrite zone (Algoma Iron Formation) at depths, known as “The Massive Sulphide”.
The identification of this large deformation and alteration corridor, which already hosts many zones of gold mineralization, indicate that the gold system is likely larger than what is indicated by previous exploration and that additional exploration may uncover additional zones of gold mineralization.
MacDonald’s future exploration programs at Holdsworth will take full advantage of its technical team’s experience and expertise in the Wawa Gold Camp. This includes the use of forefront technologies like short wave infrared and portable XRF analyses that provide quantitative mineralogical and chemical indicators to evaluate the fertility and prospectivity of gold-bearing structures. The Company has also initiated a detailed review and re-interpretation of the existing exploration data on the property to pinpoint possible areas of gold mineralization that were missed in the past. This will help define the boundaries and size of the gold system present on the property, and guide future exploration programs.
2010
The Company intends to carry out a 2,000 meter auger drill program on the Black Sands Zone of the Holdsworth Gold Project. The purpose of the program is to quantify the gold/silver resource in the Black Sands surface zone as a follow up to the metallurgical testing recently completed at SGS/Lakefield Laboratories. Upon completion Hawk will be able to complete a resource estimate and commence to determine the technical feasibility and economic viability of the Black Sands Zone.
The auger-drill program is expected to commence sometime in the late summer/fall of 2010.
2009
The Company announced the final results (See NR 09-01-13) of its 34-hole, 5,498m drill program for the gold-mineralized Soocana Vein System on the Holdsworth Gold Property, Hawk Junction-Wawa Area, Northern Ontario. A total of 2,422 drill core samples were submitted to ActLabs in Thunder Bay for Au, Ag and 36 element ICP analysis.
Hawk also shipped an additional 90kg (see HUI NR -09-05-04) of Black Sands material from the 4 pit locations in the Black Sands Zone to SGS Labs, Lakefield, Ontario for additional metallurgical testing.
Holdsworth Project — Drilling Results
The following are highlights of the results from Hawk’s 34-hole drill program on its Holdsworth Gold Property.
| Hole # | Sample # | Depth (m) | Interval (m) | Au (g/t) | Ag (ppm) |
|---|---|---|---|---|---|
| HW 8-05 | 231215 | 31-87-32-37 | 0.50 | 0.59 | 0.2 |
| HW 8-06 | 231509 | 41.24 — 41.54 | 0.30 | 2.93 | 0.9 |
| HW 8-07 | 231346 | 156.0 — 157.0 | 1.0 | 0.58 | 0.3 |
| 231347 | 157.0 — 158.0 | 1.0 | 0.57 | 0.8 | |
| HW 8-09 | 231462 | 19.84 — 20.26 | 0.42 | 1.01 | 0.5 |
| HW 8-11 | 245006 | 6.74 — 7.40 | 0.66 | (13.5)* | 4.6 |
| 245033 | 31.0 — 32.0 | 1.0 | 0.48 | 0.2 | |
| 245034 | 32.0 — 33.0 | 1.0 | 0.95 | 0.2 | |
| HW 8-13 | 231664 | 18.53 — 19.10 | 0.57 | (22.4)* | 10.1 |
| 231665 | 19.10 — 19.60 | 0.50 | (35.2)* | 7.0 | |
| 231704 | 60.60 — 61.27 | 0.67 | 0.60 | 0.9 | |
| 231705 | 61.27 — 61.75 | 0.48 | 0.92 | 0.5 | |
| HW 8-14 | 263403 | 27.50 — 28.19 | 0.69 | 2.74 | 0.4 |
| 263405 | 28.70 — 29.20 | 0.50 | 0.75 | 0.3 | |
| 263406 | 29.20 — 29.70 | 0.50 | 0.96 | 0.5 | |
| 263407 | 29.70 — 30.10 | 0.40 | 2.40 | 0.8 | |
| HW 8-20 | 245330 | 10.0 — 10.48 | 0.48 | 0.51 | 0.3 |
| HW 8-21 | 245433 | 32.46 — 33.00 | 0.54 | 0.56 | <0.2 |
| 245434 | 33.00 — 33.59 | 0.59 | 3.67 (4.49)* | 0.6 | |
| 245435 | 33.59 — 33.90 | 0.31 | 3.28 (3.19)* | 1.9 | |
| 245437 | 34.69 — 35.33 | 0.64 | 1.30 | <0.2 | |
| 245477 | 103.32- 104.00 | 0.68 | 0.61 | 0.3 | |
| HW 8-25 | 263137 | 93.40 — 93.95 | 0.55 | 6.42 (6.25)* | 2.8 |
| HW 8-27 | 263171 | 120.21- 120.66 | 0.45 | 2.4 | 0.2 |
| HW 8-29 | 263195 | 108.00- 108.56 | 0.56 | 1.05 | 1.9 |
| HW 8-30 | 245970 | 15.0 — 15.51 | 0.51 | (4.65) | 0.7 |
| 245971 | 15.51 — 15.95 | 0.44 | (3.41) | 0.7 | |
| HW 8-31 | 263225 | 17.47 — 18.00 | 0.53 | 1.8 | 3.7 |
| 263247 | 125.35- 125.92 | 0.57 | 5.74 (4.38)* | 0.3 | |
| HW 8-33 | 263301 | 89.46 — 90.00 | 0.54 | 17.7 (17.9)* | 5.3 |
*Bracketed values are Metallic Sieve Au analysis and check results using Metallic Sieve analysis.
Appendix A provides the comprehensive results for this 34-hole program, as well as information regarding the location, spacing and depth of each hole. As disclosed on Appendix A, the results from the holes that are not included in the preceding table returned no significant results.
Of the total of 340kg of material from the Black Sands Zones was sent to SGS Lakefield for metallurgical testing (see NR May 4, 2009)
Holdsworth Project: Black Sand Zone — Pitting Program Results
Metallurgical studies are being conducted by SGS Group at their facility in Lakefield, Ontario. Preliminary results from those studies show that gold (Au) recoveries on the Black Sand material range from 69% to 90% in a 48 hours agitated cyanide leach test. SGS is an independent accredited analytical laboratory.
Initially, 4 individual samples (Sample ‘A’, ‘B’, ‘C’, & ‘D’) consisting of approximately 250kg that were extracted from the Black Sand Zone, were composited and demonstrated an average 69% Au recovery. When the samples were analyzed individually, recoveries were: Sample ‘A’ — 89.8%, Sample ‘B’ — 80.5%, Sample ‘C’ — 45.6 % and Sample ‘D’ 80.3% Au respectively (see table below).
| Location | Head Grade | Recovery (48 hrs) | ||||
| Northing:Easting | Au (g/t) | Ag (g/t) | Au (%) | Ag (%) | ||
| Black Sand Composite | 3.45 | 45.2 | 69 | 61 | ||
| Sample “A” | 331+47N; 802+62E | 1.19 | 29.3 | 89.8 | 81.2 | |
| Sample “B” | 331+43N; 801+06E | 7.41 | 84.0 | 80.5 | 53.0 | |
| Sample “C” | 331+43N; 800+70E | 6.93 | 117 | 45.6 | 36.5 | |
| Sample “D” | 331+45N; 799+09E | 1.19 | 8.3 | 80.3 | 82.7 |
SGS/Lakefield recognized that Sample ‘C’ was a problematic sample and has since commenced additional tests on Sample ‘C’ such as an “ultra fine grind” and a “Diagnostic Leach Study” which utilizes a sulphuric acid leach to dissolve any coatings that may be on the gold mineralization followed by a cyanide leach, a hydrochloric acid leach to dissolve any oxides present, and finally a second cyanide leach. It is hoped that these measures will provide an indication of the gold metallurgy and help explain why the sample is not amenable to direct cyanide leaching.
Hawk plans to commence delineation and definition drilling using an auger or a sonic drill rig to quantify the gold and silver mineralization in the approximately 4400m of strike length of the 4m width and 8m depth of the Black Sand Zones this summer. As part of this program, Hawk will isolate and quantify separately, Sample ‘C’ type material which is known to exist over approximately 50m between Sample ‘B’ and Sample ‘D’, and then evaluate the need for additional testing.
Qualified Person:
Michael Newbury, P.Eng, a “qualified person” as such term is defined by National Instrument 43-101, and a director of Ring of Fire Resources Inc. has reviewed the laboratory results that included the assay results disclosed, and has otherwise reviewed and approved the technical information disclosed on behalf of the Company
The Holdsworth Property has the basic geology to host 3 types of gold deposits namely (1) gold in quartz veins, (2) gold in a weathered oxide pyrite (black sands) zones and (3) gold in the sulphide pyrite zones. Gold and Pyrite were discovered in the Hawk Junction Area as early as 1908 when the Algoma Central Railway (A.C.R) was being built. Prior to 1931, pyrite was the more important mineral extracted in the general area for its sulphur content – the Holdsworth property had inventorized in excess of 1 millons tons of 46% iron. Between 1931 and 1933, the Soocana Mining Company Limited drilled 6 diamond drill holes on the Holdsworth Property for approximately 525 metres for gold with the following results.
Holdsworth Property – 1931 Drill Results
| Hole # 1 | 10′ @ 0.4 oz Au/ton 4′ @ 0.61 oz Au/ton | Average Grade | 16.0 g/t Au/4.3m |
| Hole # 2 | 14′ @ 0.38 oz Au/ton 2′ @ 0.12 oz Au/ton | Average Grade | 11.9 g/t Au/4.9m |
| Hole # 3 | 6′ @ 0.36 oz Au/ton 5′ @ 0.56 oz Au/ton | Average Grade | 15.5 g/t Au/3.4m |
| 5′ @ 0.33 oz Au/ton 6′ @ 0.60 oz Au/ton | Average Grade | 16.4 g/t Au/3.4m | |
| Hole # 4 | 3′ @ 0.30 oz Au/ton 5′ @ 0.46 oz Au/ton | Average Grade | 13.7 g/t Au/2.4m |
| Hole # 5 | 6′ @ 0.63 oz Au/ton 3′ @ 0.21 oz Au/ton 3.5′ @ 0.06 oz Au/ton | Average Grade | 12.7 g/t Au/3.8m |
| 4′ @ 0.62 oz Au/ton 10′ @ 0.01 oz Au/ton | Average Grade | 6.3 g/t Au/4.3m | |
| Hole # 6 | 10’@ 0.21 oz Au/ton 10’@ 0.12 oz Au/ton 4′ @ 0.01 oz Au/ton | Average Grade | 4.8 g/t Au/7.3m |
| 7′ @ 0.16 oz Au/ton 7’@ 0.71 oz Au/ton 10’@ 0.06 oz Au/ton 10′ @ 0.04 oz Au/ton 4’@ 0.68 oz Au/ton 9’@ 0.06 oz Au/ton 5′ @ 0.04 oz Au/ton | Average Grade | 6.9 g/t Au/15.8m |
The Soocana Mining Company Limited calculated a gold resource of 54,000 tons of material grading 0.556 oz/t (19.06 g/t)
(NB: The above estimate of resources and assay values are historical and are non-NI 43-101compliant).
In 1983 Falconbridge Nickel Mines optioned the property and conducted a series of airborne and ground geophysical surveys, rock sampling, soil sampling, geological mapping, relogging of the old drill core and drilled 5 diamond drill hole totaling 590 metres. Two holes tested the quartz veins, one drill hole tested an airborne geophysical anomaly, while the other 2 holes tested the pyrite zones. Falconbridge’s two drill holes into the quartz vein system failed to duplicate the grades published for the 1931 drilling.
Between 1985 and 1989, Reed Lake Exploration Ltd drilled 37 diamond drill holes totaling 2399 metres, but failed to duplicate the 1931 drill results because of a geological mapping error that assumed that the vein system dips north as opposed to south. Reed Lake drilling, however, added considerable open pit potential to the property by intersecting a wide zone of secondary quartz veining and mineralization.
PREVIOUS WORK COMPLETED:
Bulk Sampling: In 1999, Hawk carried out a preliminary mill test on the oxide material (black sands) by independent consultant – Dave Welch in September, 1999 (see Appendix 2 to the Mr. Sears’ report). An average of 98.7% recovery was obtained in a 48-hour agitated-leach without crushing.
The next phase of work on this target was to include a pilot scale bench test on one or more bulk samples from the black sand deposit in order to predict costs and confirm gold and silver recoveries. A series of drill holes would be completed on the massive pyrite zone to systematically test for gold mineralization as well as locate additional potential sources of auriferous black sand. If the bench testing was positive, a second phase of work involving excavating would be carried out to determine the potential size of the black sand zones and define enough material to justify the cost of development.
The following are the claims comprising the Holdsworth Property:
| Holdsworth Claims (grouped by parcel) | ||||
|---|---|---|---|---|
| Parcel 1478 AWS | Parcel 1876 AWS | Parcel 785 AWS | Parcel 786 AWS | |
| ACR # 297 | ACR # 303 | ACR #2636 | SSM 1054 | SSM 1055 |
| ACR # 298 | ACR # 304 | ACR # 2637 | ||
| ACR # 299 | ACR # 305 | ACR # 2638 | ||
| ACR # 300 | ACR # 306 | ACR # 2639 | ||
| ACR # 301 | ACR # 307 | ACR # 2640 | ||
| ACR # 302 | ACR # 2641 |
At the present time there are no known environmental liabilities on this property. Work programs in the past have involved stripping, trenching and road construction by excavator and diamond drilling. The sample trenches have been filled in.
TITLE RESERVATIONS
The Company’s title to the Holdsworth Claims is subject to several reservations and exceptions, being the reservations in the original grants from the Crown and those imposed by Algoma Central Corporation. Subject to such reservations, the Company is the recorded holder of a 100% interest in the Holdsworth Claims, free of encumbrance, its title thereto being the usual title to patented claims enjoyed in the Province of Ontario. There are no exploration or development expenditures required to maintain title to the Holdsworth Property. Annual rental of $1,140.16 is paid to the Government of Ontario. 1998 taxes payable to the Algoma District School Board were $70.43.
Parcels 785AWS and 786AWS – subject to Crown reservations of 5% of the acreage for roads, all trees, the right to use navigable waters and the adjoining banks, for a depth of one chain, for fishing purposes.
Parcels 1478AWS and 1876AWS – subject to the same Crown reservations as apply to Parcels 785AWS and 786 AWS as well as the right of Algoma Central Corporation to all water powers; the right of way, not exceeding 100 feet in width, for railroad track; royalties on gold, silver, copper and nickel of 2% of market value of output up to $1,000,000, 3% thereafter up to $4,000,000 and 5% thereafter; 15 cents per long ton (2,240 pounds) of raw ore on iron ore (excepting siderite, pyrites or other sulphides, 10 cents per long ton of raw ore on siderite, pyrites or other sulphides and, on other minerals, not less than 15 cents per long ton of raw ore and not more than 5% of their market value.
Black Sand Zone — The Black Sand Zone is one of the three gold prospects on the Holdsworth Property. It is a black granular oxide zone (referred to as ‘black sands’) overlying a massive pyrite zone (the “Algoma Iron Formation” — which is another of the three gold prospects). More detail on the Black Sand Zone is provided in the report of Seymour M. Sears (see “Geologist’s Report”, below).
NET PROCEEDS ROYALTY:
Pursuant to the Acquisition Agreement, Hawk agreed that after it had recovered all of the property costs from the sale of material taken from the Holdsworth Claims (the “Initial Property Costs”), Hawk would pay to NSAI 10% of net proceeds derived thereafter from materials taken from the Holdsworth Claims (the “Net Proceeds”). After Hawk, through its receipt of its share of Net Proceeds, has received an amount equal to twice the Initial Property Costs, NSAI is entitled to receive 15% of net profits from the property, defined to mean the actual amount of payment received from any independent refiner, custom smelter, mill, mint or other purchaser for ores, concentrates, precipitates, bullion and/or minerals mined and extracted from the Holdsworth Claims (the “Net Profits”). After Hawk, through its receipt of its share of Net Proceeds, has received an amount equal to three times the Initial Property Costs, NSAI shall be entitled to receive 20% of Net Proceeds. In calculating Net Proceeds, there will be deducted: (i) the property costs including the sum of $27,500 paid to O’Reilly; (ii) all costs incurred in the incorporation and organization of Hawk; (iii) all costs incurred in connection with the filing by Hawk of its first Prospectus; (iv) all net smelter returns royalties payable; (v) the costs of geophysical, geochemical, geological and related operations; (vi) exploration, drilling, development, mining and processing of ores including all costs incurred in connection with the sale thereof; assaying, metallurgical studies and report; (vii) salaries and wages of personnel directly engaged in work on the Claims together with all employee benefits and allowances normally paid; (viii) travelling and directly related expenses including food and lodgings of personnel engaged in work within the Holdsworth Claims; (ix) insurance premiums; (x) charges with respect to equipment leased in connection with the exploration, development and related operations conducted within the Holdsworth Claims; (xi) all charges made with respect to equipment purchased or the rehabilitation of equipment located on the Holdsworth Claims and services rendered in connection with the exploration, development and related operations conducted within the Holdsworth Claims; and (xii) supervision and management of all of the foregoing together with Hawk’s reasonable administrative expenses incurred up to the time all property costs have been recovered.
2008 WORK PROGRAM:
Hawk completed field exploration including line cutting, geologic mapping, rock chip sampling, a ground Magnetic Survey and a 34-hole 5,498m diamond drill program to test the Soocana Vein System (which was previously drilled by Soocana Mining Company in 1931, by Falconbridge in 1985 and Reed Lake Exploration in 1988). An Orbit-Garant drill rig, capable of drilling to a depth of 450m using NQ size core, was mobilized by Hawk.
Using mapping and sampling, Hawk Uranium Inc., extended the Gold Mineralized Soocana Vein System to approximately 750 metres. Previous operators had outlined the Soocana Vein System over a strike length of approximately 300 metres, from L797+00E to L800+00E (based on Hawk’s grid). Hawk has outlined the vein from L796+50E to L804+00E. The vein varies in width from 0.5m to 2.5m.
The initial phase of diamond drill testing of the gold mineralized Soocana Vein System was completed (see HUI NR 08-10-20) with a total of 5,498 metres drilled in 34 holes. A total of 2,422 samples were submitted to ActLabs in Thunder Bay for gold (Au) , silver (Ag) and 36 element ICP analysis, with results reported below (see Current Drill Results Chart below or HUI NR -09-01-13). All but one of the 34 holes drilled intersected what is believed to be the Soocana Vein System.
Hawk submitted a 250kg composite sample from 4 pit locations and 4 individual samples totaling 90kg from the Black Sands Zone to SGS Labs, Lakefield, Ontario for metallurgical testing. Initial indications from a ground magnetic geophysical survey with 12.5m station spacing on 100m spaced lines outlined two 2,200 metre zones of the Black Sands traversing the property. The zones appear to have a width of a minimum of 4m.
An excerpt from the Sears Barry and Associates Ltd Report of October 2002 (the Sears Report *) prepared for Hawk Junction Capital Corp. (the predecessor company of Hawk Uranium Inc.) and authored by Seymour Sears P.Geo. included the following comment in the summary to that report:
“The Black Sand Zone is at least 8 metres (25 feet) deep. This oxide material contains highly elevated gold values ranging from trace to 14.2 g/t (0.42 oz/ton). Systematic sampling of the black material by Hawk Junction Capital Corp. in 1999, from a portion of one of these zones, the East Zone, has outlined an indicated resource of 11,760 tonnes having a grade of 3.45 g/t Au (0.10 oz/ton) and 29.99 g/t Ag (0.87 oz/ton). Additional material beneath the delineated zone as well as three other blocks of black sand occur within the immediate area, although these were not properly sampled and are therefore of undetermined size and grade.
Four other zones of black sand are identified in other parts of the Holdsworth property, as well as geophysical conductors that may represent sulphides zones that have not been investigated.
A preliminary mill test carried out by an independent consultant (Welch, Appendix 2) indicated an average of 98.7% recovery in a 48 hour agitated leach without crushing.”
The Sears Report was prepared in accordance with National Instrument 43-101. The results of the Sears Report have not been verified or confirmed by Hawk. The Report is filed on SEDAR as Schedule “H” to the December 12, 2002 Hawk Junction Capital Corp. Management Information Circular. The mill test referred to in the above excerpt was carried out by Dave Welch and is dated September 9, 1999.)
A qualified person has not done sufficient work to classify the historical estimate from the above excerpt as current mineral resources or mineral reserves. Hawk is not treating the historical estimate as current mineral resources or mineral reserves as defined in sections 1.2 and 1.3 of National Instrument 43-101, and the historical estimate should not be relied upon.
Hawk is investigating the possibility of custom processing this material, and evaluating the technical feasibility of applying custom processing to the zone.
Soocana Vein System: Assay results from chip samples taken across the vein on L804+00E returned values of 1.08 g/mt Au to 16.5 g/mt Au. A chip sample taken from L798+05E returned a value of 42.5 g/mt Au (sample 20447).
Assay results from chip samples taken across the vein on L804+00E returned values of <0.2 ppm* Ag to 19.0 ppm Ag. A chip sample taken from L798+20E returned a value of 83.1 ppm (sample 20452).
Final Metallic Sieve Gold Analysis and Aqua Regia Extraction — ICP/OES Silver geochem analysis is from the Thunder Bay and Ancaster, Ontario facilities of Activation Laboratories Ltd. (Actlabs), an independent laboratory based in Canada that is an ISO/IEC 17025 with CAN-P-1579 registered laboratory.
| Sample # | Au g/mt | Ag ppm* | Location | Sample Length |
|---|---|---|---|---|
| 20369 20370 20405 20406 20411 20412 20421 20429 20432 20434 20435 20447 20448 20450 20451 20452 20453 20454 20461 | 1.08 7.52 7.78 5.59 10.00 13.40 2.46 10.10 1.10 1.46 2.83 42.50 6.15 1.20 1.46 3.18 2.80 16.50 15.90 | 2.8 2.4 3.2 0.3 0.8 5.3 <0.2 <0.2 <0.2 0.6 0.3 19.00 6.1 0.3 1.7 83.1 9.6 9.1 3.9 | L804+00E: 331+310N L804+00E: 331+310N L797+96E:331+356N L797+95E: 331+352N L797+90E: 331+352N L797+74E:331+344N L797+57E:331+343N L797+39E:331+347N L797+33E:331+354N L797+24E:331+352N L797+25E:331+347N L798+05E: 331+357N L798+09E: 331+355N L798+12E: 331+353N L798+14E: 331+351N L798+20E: 331+350N L798+22E:331+349N L798+26E:331+348N L798+44E:331+353N | 0.6m 1.0m 1.2m 2.0m 2.0m 0.9m 1.2m 1.1m 0.6m 1.3m 1.2m 4.0m 3.0m 3.0m 3.0m 7.0m 3.8m 2.0m 1.7m |
*1ppm = 1g/t
Black Sand Zone:
Assay results from 4kg samples taken from the Black Sand Zone returned values of 0.22 g/mt Au to 5.62 g/mt Au.
Assay results from 4kg samples taken from the Black Sand Zone returned values of 7.1 ppm* Ag to 45.5 ppm Ag.
| Sample # | Au g/mt | Ag ppm** | Location | Sample Weight |
| 20333 20334 20359 20360 20361 20362 20363 20364 20365 | 1.90 0.42 1.12 0.22 1.19 5.02 4.16 0.34 5.62 | 7.1 13.4 24.3 25.5 35.9 45.5 28.2 13.3 44.6 | L800+05E:331+480N L800+10E:331+480N L801+00E:331+460N L801+00E:331+465N L801+00E:331+470N L800+11E:331+475N L800+11E:331+475N L801+00E:331+475N L801+00E:331+475N | 4kg 4kg 4kg 4kg 4kg 4kg 4kg 4kg 4kg |
*1ppm = 1g/t
DRILL RESULTS:
The Company announced the final results (See NR 09-01-13) of its 34-hole, 5,498m drill program for the gold-mineralized Soocana Vein System on the Holdsworth Gold Property, Hawk Junction-Wawa Area, Northern Ontario. A total of 2,422 drill core samples were submitted to ActLabs in Thunder Bay for Au, Ag and 36 element ICP analysis.
Hawk also shipped an additional 90kg ((see HUI NR -09-05-04) of Black Sands material from the 4 pit locations in the Black Sands Zone to SGS Labs, Lakefield, Ontario for additional metallurgical testing.
Holdsworth Project — Drilling Results
The following are highlights of the results from Hawk’s 34-hole drill program on its Holdsworth Gold Property.
| Hole # | Sample # | Depth (m) | Interval (m) | Au (g/t) | Ag (ppm) |
|---|---|---|---|---|---|
| HW 8-05 | 231215 | 31-87-32-37 | 0.50 | 0.59 | 0.2 |
| HW 8-06 | 231509 | 41.24 — 41.54 | 0.30 | 2.93 | 0.9 |
| HW 8-07 | 231346 | 156.0 — 157.0 | 1.0 | 0.58 | 0.3 |
| 231347 | 157.0 — 158.0 | 1.0 | 0.57 | 0.8 | |
| HW 8-09 | 231462 | 19.84 — 20.26 | 0.42 | 1.01 | 0.5 |
| HW 8-11 | 245006 | 6.74 — 7.40 | 0.66 | (13.5)* | 4.6 |
| 245033 | 31.0 — 32.0 | 1.0 | 0.48 | 0.2 | |
| 245034 | 32.0 — 33.0 | 1.0 | 0.95 | 0.2 | |
| HW 8-13 | 231664 | 18.53 — 19.10 | 0.57 | (22.4)* | 10.1 |
| 231665 | 19.10 — 19.60 | 0.50 | (35.2)* | 7.0 | |
| 231704 | 60.60 — 61.27 | 0.67 | 0.60 | 0.9 | |
| 231705 | 61.27 — 61.75 | 0.48 | 0.92 | 0.5 | |
| HW 8-14 | 263403 | 27.50 — 28.19 | 0.69 | 2.74 | 0.4 |
| 263405 | 28.70 — 29.20 | 0.50 | 0.75 | 0.3 | |
| 263406 | 29.20 — 29.70 | 0.50 | 0.96 | 0.5 | |
| 263407 | 29.70 — 30.10 | 0.40 | 2.40 | 0.8 | |
| HW 8-20 | 245330 | 10.0 — 10.48 | 0.48 | 0.51 | 0.3 |
| HW 8-21 | 245433 | 32.46 — 33.00 | 0.54 | 0.56 | <0.2 |
| 245434 | 33.00 — 33.59 | 0.59 | 3.67 (4.49)* | 0.6 | |
| 245435 | 33.59 — 33.90 | 0.31 | 3.28 (3.19)* | 1.9 | |
| 245437 | 34.69 — 35.33 | 0.64 | 1.30 | <0.2 | |
| 245477 | 103.32- 104.00 | 0.68 | 0.61 | 0.3 | |
| HW 8-25 | 263137 | 93.40 — 93.95 | 0.55 | 6.42 (6.25)* | 2.8 |
| HW 8-27 | 263171 | 120.21- 120.66 | 0.45 | 2.4 | 0.2 |
| HW 8-29 | 263195 | 108.00- 108.56 | 0.56 | 1.05 | 1.9 |
| HW 8-30 | 245970 | 15.0 — 15.51 | 0.51 | (4.65) | 0.7 |
| 245971 | 15.51 — 15.95 | 0.44 | (3.41) | 0.7 | |
| HW 8-31 | 263225 | 17.47 — 18.00 | 0.53 | 1.8 | 3.7 |
| 263247 | 125.35- 125.92 | 0.57 | 5.74 (4.38)* | 0.3 | |
| HW 8-33 | 263301 | 89.46 — 90.00 | 0.54 | 17.7 (17.9)* | 5.3 |
*Bracketed values are Metallic Sieve Au analysis and check results using Metallic Sieve analysis.
Appendix A provides the comprehensive results for this 34-hole program, as well as information regarding the location, spacing and depth of each hole. As disclosed on Appendix A, the results from the holes that are not included in the preceding table returned no significant results.
Appendix A: To view Appendix A table click here: http://hawkuranium.com/pdfs/Appendix_A.pdf
The drilling indicated that at surface the more predominant and continuous quartz+ankerite veins are not mineralized over the entire length and gold mineralization appears to be structurally controlled. The exsolved sugary textured, white, crystalline quartz material occurring at the inflections of fold structures are mineralized with gold. It is believed that deeper drilling is required to test zones at depth where the fold structures flatten out and become more continuous.
The samples, for which results are disclosed, were collected under the supervision of Geologist Randy Singh P.Geo and Geologist Julius Hava P.Geo.
Michael Newbury, P.Eng, a “qualified person” as such term is defined by National Instrument 43-101, and a director of Hawk reviewed the laboratory results that included the assay results disclosed, and has otherwise reviewed and approved the technical information disclosed on behalf of Hawk.
Security and Quality Control
Hawk conducted a thorough quality control program for all its analytical work, which included securing the core boxes after drilling, logging in a secure enclosure and final storing of core in a locked warehouse.
Drill core was sampled in this secure facility by specially trained and supervised personnel. Samples were also sealed and stored in this secure facility before shipping to Actlabs in Thunder Bay.
2008 Summary
The Soocana Vein System of the Holdsworth Gold Property consists of two (2) distinct vein systems, namely a white quartz vein and a quartz–ankerite vein. Only the white quartz vein carries ore grade gold mineralization and is the result of structural deformation resulting from the ex-solving of white quartz vein material. This white quartz vein material is confined to pressure gaps and cracks caused from deformation of the original quartz-ankerite vein and occur as conduits along these pressure gaps.
It is envisioned that these pressure gaps coalesce at depths and are more continuous and as such can lead to a viable gold deposit at depths.
The 2008 Summer Drill program consisted of 34 diamond drill holes totaling 5,498m and resulted in 2,422 samples being submitted to Actlabs of Thunder Bay for Gold, Silver and 36 elements ICP analysis.
Hawk also shipped an additional 90kg of Black Sands material from the 4 pit locations in the Black Sands Zone to SGS Labs, Lakefield, Ontario for additional metallurgical testing
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.
Contacts:
Noble Mineral Exploration Inc.
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com IR Email: ir@noblemineralexploration.com
