Toronto, Ontario – TheNewswire – February 28, 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 drilling on the Calder Gold Target, which forms part of Project 81 and is located in Calder Township north of Timmins, Ontario, Canada. The program is designed to test a 900m strike length of a previously untested structures identified by an Airborne EM-Mag Survey flown in 2018 by BECI. Drilling will commence on approval of a water crossing permit from the Ministry of Northern Development and Mines (MNDM).
The Calder EM trend is an approximately 900m long structure that is a very discrete bedrock conductor within favourable geology interpreted from airborne magnetics. The geology has been interpreted to be steeply dipping to the northeast. Overburden thickness in the area is believed to be approximately 30-50 m and the hole is designed to intersect the conductor at approximately 75 to 100m vertical depth. Follow up drilling will be contingent on the results from this drill hole.
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 investor to enter into an option and joint venture agreement that would recognize the investor and Noble as each holding an 50/50 interest 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 investor are and will be 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 this news release on behalf of Noble.
About Noble Mineral Exploration
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company holding in excess of 79,177 hectares of mineral rights in the Timmins/Cochrane area of Northern Ontario, upon which it plans to generate joint venture exploration programs.
The Company also holds a portfolio of securities in its joint venture partners plus a gold-streaming and royalty interest in the Wawa-Holdsworth Property.
The Company is focused on seeking Joint Venture Partners to further expand on all its exploration and development programs.
For more information please Contact:
Noble Mineral Exploration Inc.
H. Vance White, President