NioGold is an extremely compelling gold play, management has a well thought out plan for success and they are operating in the heart of one of the most prolific gold producing areas in the world – 170 million ounces of gold have been pulled out of the Abitibi gold belt.
NioGold has consolidated a large 120 km2 land package in the heart of the Cadillac, Malartic and Val-d’Or gold mining camps. The Cadillac, Marlartic and Val-D’or gold camp projects have area mine production of 45 million ounces of gold.
The Malartic project holds NI 43-101 compliant Indicated resources of 600,000 ounces gold in addition to Inferred resources of 360,000 ounces gold. The gold resources are defined along a three-kilometre segment of a regional gold mineralised fault zone, in and around the former Marban, Norlartic and Kierens gold mines.
Marban deposit drilling - The 2011 first phase drill program demonstrated the continuity of the mineralisation between surface and -250 metres vertical depth, as well as the grade consistency, and led to the discovery of the Western High Grade Zone.
This first phase also identified the Eastern Down Dip Extension Zone which is located below -250 metres vertical depth and remains open at depth and laterally.
The second phase program will include 34,000 metres of diamond drilling, an updated mineral resource estimate and basic technical studies, including metallurgical testwork. Drilling commenced on December 13, 2011, and four drill rigs are currently in operation to expand the mineral resources of the Marban deposit.
Niogold Mining Corp. has released results of the first 15 diamond drill holes of its current 40,000-metre infill program on the modelled open-pit shell of the Marban deposit, located on its 100-per-cent-owned Marban block property in the Malartic gold camp in the Abitibi district of Quebec. The results indicate several new high grade shoots as well as wide lower grade intervals.
Drilling highlights of the infill program include:
-- 68.73 g/t Au over 4.1 m in hole MB-14-342 at a vertical depth of 145 m. -- 49.90 g/t Au over 3.5 m including 124.28 g/t Au over 1.1 m in hole MB-14-343 at a vertical depth of 250 m. -- 18.73 g/t Au over 0.9 m in hole MB-14-347 at a vertical depth of 50 m. -- 8.88 g/t Au over 4.0 m in hole MB-14-349 at a vertical depth of 155 m. -- 1.02 g/t Au over 42.3 m in hole MB-14-353 at a vertical depth of 325 m. -- 2.96 g/t Au over 5.5 m in hole MB-14-350 at a vertical depth of 165 m. -- 2.14 g/t Au over 9.7 m in hole MB-14-351 at a vertical depth of 490 m.
Robert Wares, NioGold's President and CEO, commented: "These preliminay results are very encouraging. They confirm the distribution of the mineralized zones, are increasing the confidence in the inferred resources and are locally filling gaps where no mineralization was known before, such as the intercept in MB-14-342 that produced 68.73 g/t Au over 4.1 m in the hanging wall of the deposit."
The Marban deposit is hosted in a sequence of volcanic rocks (alternating basalts and komatiites) cut by multiple granodioritic dykes. Gold bearing mineralization occurs in folded shear zones in the basalts and in quartz veins in every type of rocks. The infill program is designed to fill in 25 metre gaps on every 50 metre-spaced drill sections and is restricted in width and depth to test the modelled open pit shell. Since October 14, 2014, more than 14,000 meters distributed in 40 holes have been drilled and were concentrated over a strike length of 450 m on the eastern part of the deposit.
Diamond drill holes were drilled with NQ-size core, except for holes that traversed underground workings which were completed using BQ-size core. The core was sealed and delivered by the drilling contractor to NioGold's facilities located at the Norlartic mine site. The core was photographed for reference, logged and mineralised sections were sawed in half. Sample lengths vary between 0.5 to 1.5 metres. Half core samples were bagged, sealed and delivered to Actlabs in Ste Germaine Boule, Quebec, which is an accredited laboratory. The remaining core is stored on site for reference. Samples were assayed by the fire-assay method using an atomic absorption finish on a 50-gram pulp split. A quality assurance and quality control program (QA/QC) was implemented by NioGold and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards, blanks and field duplicates in the sample batches sent to the laboratory and a systematic re-assaying of samples returning values above 3 g/t Au by the fire-assay method using a gravimetric finish. As well, pulps grading above 0.5 g/t Au or mineralized intervals are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.
The exploration program is being conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), NioGold's Vice-President Exploration and a Qualified Person as defined by National Instrument 43-101. This news release was prepared by Mr. Ducharme. NioGold Mining Corporation - On Canada's Golden Highway NioGold Mining Corporation is a mineral exploration company focused on gold. The Company's flagship projects are located in the Cadillac - Malartic - Val-d'Or region of the prolific Abitibi gold mining district, Quebec. The Cadillac, Malartic and Val-d'Or mining camps have produced over 45 million ounces of gold since the 1930's and presently encompasses six producing gold mines including Osisko Mining's new Canadian Malartic operations. NioGold's land holdings within the Abitibi presently cover 125km2 and encompass four former gold producers, namely the Norlartic, Kierens (First Canadian), Marban and Malartic Hygrade mines that collectively produced 630,000 ounces of gold.
NioGold's experienced and qualified technical team are overseeing the advancement of these projects, targeting expansion of the resource base.