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Toronto, Ontario – December 5, 2022 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) is pleased to report the discovery of rare earth mineralization during a recent drill program on the Nagagami Project northwest of Hearst, Ontario.
Highlights
Analyses have been received for the Company’s Nagagami Project near Hearst, Ontario. A total of 1,302 meters were drilled in two vertical holes to test the theory that Rare Earth Element (“REE”) and Niobium (“Nb”) mineralization could be found in the Nagagami Carbonatite Complex. The target of the drilling was a magnetic low in the centre of the Nagagami Complex that is geologically comparable to niobium- and rare earth-bearing complexes discovered and mined elsewhere. The St Honore, (Niobec) Carbonatite in Quebec is such a complex that is mining separate REE- and Nb-bearing zones.
The Nagagami carbonatite complex is not exposed in outcrop on the property because it is covered by overburden and Paleozoic sediments. That requires geophysical data be used to place the drill holes.
Although anomalous REE values were encountered in both holes, the best results were obtained from Hole NG-22-02.:
The 5 metre core interval between these two intersections has not been sampled but is expected to generate similar values because it consists of the same rock type. That would extend the mineralization to a core length of 20 metres*. Additional sampling of the 5 metre interval and core elsewhere in the hole is scheduled to be completed in December.
Total Rare Earth Oxides = Ce2O3+Dy2O3+Er2O3+Eu2O3+Gd2O3+Ho2O3+La2O3+Lu2O3+Nd2O3+Pr2O3+Sc2O3+Sm2O3 +Tb2O3+Tm2O3+Yb2O3+Y2O3
This result is a new discovery which has not been explored previously. The extent of the zones has not been established at this time, however the company controls about 150 km2 of potential ground.
The best niobium (Nb) intersection was also encountered in Hole NG-22-02 (155 metres below REE values):
*true width not known at this time
Although this niobium result was lower than anticipated, geological evidence indicates that carbonatite complexes tend to be zoned and the location of REE mineralization does not necessarily coincide with the Nb-bearing zones. The St Honore deposit in Quebec has both a rare earth zone (REE) and a separate niobium (Nb) zone.
Vance White CEO Noble Minerals commented: “We are very pleased to have found rare earth mineralization in the second hole of a test drill program. The potential target area is 150 square kilometres, and, to date, we have only explored about 1 square kilometre. We have a lot of work to do.”
For a video on the Nagagami drill project, please see:
Uses of Rare Earth Minerals
Manufacturing permanent magnets is the largest global use of REE’s accounting for 29% of forecasted demand. China presently leads the market by producing 140,000 tonnes of REE’s in 2020. This amount accounts for almost 60% of global production. The Global rare earth market is projected to grow from current USD 5.3 billion to USD 9.6 billion by 2026.
(“Nd, Pr”) Neodymium and Praseodymium – Power the strongest types of rare earth magnets which enable the conversion of electrical energy into motion via permanent-magnet motors. Permanent magnets are an essential component of electric vehicles and modern electronics including, cell phones, televisions, computers, and automobiles and more robust commercial applications.
Historical exploration results disclosed in this news release are non-compliant with the requirements of National Instrument 43-101.
Michael Newbury PEng (ON), a “qualified person” as such term is defined by National Instrument 43-101, has reviewed 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., 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 ~25,000 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 ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, ~518 hectares in the Laverlochere Nickel, Copper, PGM property and ~482 hectares in the Cere-Villebon 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.
Contacts
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
