Val-d'Or, Quebec - October 8, 2013 - NioGold
Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) ("NioGold") is pleased to
announce the results of 21 holes drilled on its 100% owned Marban
Block property, located in the prolific Abitibi gold mining
district, Quebec. The Marban Block property hosts three deposits
(Marban, Kierens and Norlartic) which collectively host estimated
measured and indicated resources of 1,531,000 ounces gold (32,127,000 tonnes
grading 1.48 g/t gold) plus inferred resources of 599,000 ounces gold (16,478,000 tonnes
grading 1.13 g/t gold).
The drilling was targeted to infill
the inferred resource of the Kierens and Norlartic deposits, as
well as the 450 meter gap area between the Norlartic and Kierens
deposits, and also the gap between the Norlartic and Marban
deposits. The drilling took place between February and May, 2013,
and comprised 9,271 meters of drilling with up to four drills
operating on ice bridges.
Highlights from drilling
inside the inferred resource
of the Kierens deposit are:
-9.12 g/t Au over 1.9 m in hole
FC-13-013 at a vertical depth of 230 m.
-1.72 g/t Au over 22.9 m which include
2.93 g/t Au over 5.3 m in
hole FC-13-018 at a vertical depth of 530 m.
-3.04 g/t Au over 4.4 m in hole
FC-13-020 at a vertical depth of 495 m.
-2.65 g/t Au over 18.7 m which include
5.19 g/t Au over 6.9 m in
hole FC-13-025 at a vertical depth of 360 m.
Highlights from drilling
between the Kierens and
Norlartic deposits are:
-2.05 g/t Au over 16.5 m in hole
FC-13-012 at a vertical depth of 330 m.
-15.97 g/t Au over 1.2 m in hole
FC-13-015 at a vertical depth of 605 m.
-10.52 g/t Au over 0.6 m in hole
FC-13-021 at a vertical depth of 90 m.
Highlight from drilling inside the inferred resource of the
Norlatic deposit is:
-0.91 g/t Au over 19.0 m in hole
NL-13-081 at a vertical depth of 180 m.
Drill
holes results:
-----------------------------------------------------------------------------------------------
|Hole |Easting |Northing|Azimuth|Dip |Hole |From |To |Length |Grade |Zones 2 |
| |1 |1 | | |Length | | | | | |
| | | (m) | | | | | |(m) | | |
| | (m) | | | | (m) | |(m) | | | |
| | | | | | | | | | (g/t | |
| | | | | | |(m) | | |Au) | |
| | | | | | | | | | | |
|---------------------------------------------------------------------------------------------|
|FC-13-011|7+95W |2+84N |N211° |-53° |423.0 |286.7 |298.6 |11.9 |0.44 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |286.7 |291.1 |4.4 |0.80 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-012|8+85W |3+27W |N211° |-57° |555.0 |387.2 |403.7 |16.5 |2.05 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-013|9+75W |2+91N |N211° |-49° |426.0 |292.7 |294.6 |1.9 |9.12 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |308.3 |312.2 |3.9 |1.59 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-014|10+35W |3+42N |N211° |-66° |678.0 |529.4 |530.5 |1.1 |4.28 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-015|8+40W |4+36N |N211° |-66° |741.0 |559.9 |570.5 |10.6 |0.50 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |583.7 |589.0 |5.3 |1.54 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |601.3 |602.0 |0.7 |4.73 |FW |
|---------------------------------------------------------------------------------------------|
| | | | | | |682.6 |683.8 |1.2 |15.97 |FW |
|---------------------------------------------------------------------------------------------|
|FC-13-016|8+40W |4+36N |N211° |-66° |96.0 |81.1 |83.5 |2.4 |1.28 |NNZ |
|---------------------------------------------------------------------------------------------|
|FC-13-017|9+15W |1+13N |N211° |-45° |231.0 |83.6 |92.3 |8.7 |1.23 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-018|10+65W |3+10N |N211° |-73° |714.0 |540.9 |563.8 |22.9 |1.72 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |561.2 |563.8 |2.6 |7.77 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-019|9+75W |3+71N |N211° |-62° |654.0 |37.1 |41.8 |4.7 |1.39 |NNZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |482.4 |483.5 |1.1 |8.10 |HW |
|---------------------------------------------------------------------------------------------|
| | | | | | |491.5 |496.7 |5.2 |1.05 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-020|9+75W |3+71N |N211° |-67° |708.0 |31.1 |47.8 |16.7 |1.30 |NNZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |43.0 |47.8 |4.8 |3.05 |NNZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |535.6 |540.0 |4.4 |3.04 |HW |
|---------------------------------------------------------------------------------------------|
|FC-13-021|5+70W |1+51N |N211° |-44° |271.0 |131.0 |132.8 |1.8 |3.45 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |131.0 |131.6 |0.6 |10.52 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-022|6+15W |1+12N |N211° |-50° |250.0 |217.6 |219.6 |2.0 |0.85 |FW |
|---------------------------------------------------------------------------------------------|
|FC-13-023|9+75W |3+31N |N211° |-62° |606.0 |335.2 |336.4 |1.2 |3.85 |HW |
|---------------------------------------------------------------------------------------------|
| | | | | | |390.3 |394.6 |4.3 |1.57 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |427.0 |438.5 |11.5 |0.77 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-024|10+35W |2+62N |N211° |-60° |519.0 |324.4 |336.1 |11.7 |1.07 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-025|10+35W |3+12N |N211° |-63° |621.0 |396.4 |415.1 |18.7 |2.65 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | |incl |407.5 |414.4 |6.9 |5.19 |MZ |
|---------------------------------------------------------------------------------------------|
|FC-13-026|8+25W |1+15N |N211° |-46° |224.4 |60.1 |61.8 |1.7 |3.15 |HW |
|---------------------------------------------------------------------------------------------|
| | | | | | |90.8 |97.0 |6.2 |1.17 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |118.7 |120.9 |2.2 |3.92 |MZ |
|---------------------------------------------------------------------------------------------|
| | | | | | |169.2 |171.6 |2.4 |1.61 |FW |
|---------------------------------------------------------------------------------------------|
|NL-13-081|3+15E |1+50N |N211° |-67° |279.0 |182.0 |201.0 |19.0 |0.91 |HW |
|---------------------------------------------------------------------------------------------|
|MB-13-338|6+00E |0+70N |N211° |-78° |354.0 |174.6 |181.7 |7.1 |0.69 | |
|---------------------------------------------------------------------------------------------|
| | | | | | |193.1 |206.3 |13.2 |1.14 | |
|---------------------------------------------------------------------------------------------|
| | | | | | |238.6 |241.8 |3.2 |2.53 | |
|---------------------------------------------------------------------------------------------|
| | | | | | |303.1 |309.2 |6.1 |0.82 | |
|---------------------------------------------------------------------------------------------|
|MB-13-339|5+00E |1+30S |N211° |-68° |255.0 |52.3 |52.9 |0.6 |0.64 | |
|---------------------------------------------------------------------------------------------|
|MB-13-340|5+50E |1+75S |N211° |-50° |204.0 |59.0 |60.0 |1.0 |2.80 | |
|---------------------------------------------------------------------------------------------|
|MB-13-341|15+50E |0+40S |N211° |-45° |438.0 |201.2 |205.4 |4.2 |1.69 |Norlartic|
|---------------------------------------------------------------------------------------------|
| | | | | | |384.5 |387.5 |3.0 |1.76 | |
|---------------------------------------------------------------------------------------------|
|1: Norlartic grid | | | | | | | | | |
|coordinates | | | | | | | | | |
|---------------------------------------------------------------------------------------------|
|2: MZ = Kierens main zone, HW = In the hanging wall of the Kierens or | |
|Norlartic deposits, FW = In the footwall of the Kierens deposit, NNZ = North | |
|North zone | |
-----------------------------------------------------------------------------------------------
"The latest results are a step
forward in terms of adding to and upgrading the project resource
base", said NioGold's President and CEO, Mike Iverson. "At Kierens,
the bulk of the current resource is above 500 vertical metres. Hole
FC-13-015 now suggests strong potential for extension of this
deposit to depth. At Norlartic, Hole MB-13-341 extends the
Norlartic trend over a strike of 1,200 metres and appears to
confirm a convergence of this zone towards the hanging wall of the
Marban deposit. In all, the new drilling has identified some very
promising areas with the potential to generate new resources,
particularly in proximity to the underground drifts connecting the
Kierens and Norlartic former mines."
A map showing the location of the
new holes is available at:
http://www.niogold.com/projects/maps/Norlartic-Deposit-Holes-Location.jpg
http://www.niogold.com/projects/maps/Kierens-Deposit-Holes-Location.jpg
http://www.niogold.com/projects/maps/DDH-2013-Drilling.jpg
Two longitudinals are showing the
new best results obtained on the Kierens and Norlartic deposits are
available at:
http://www.niogold.com/projects/maps/Norlartic-Deposit-Longitudinal-Section.jpg
http://www.niogold.com/projects/maps/Kierens-Deposit-Longitudinal-Section.jpg
Technical Info, QA/QC and Qualified
Persons
Reported intervals are in core
lengths but are anticipated to approximate true width, except where
structural complexities occur, as the holes were drilled near
perpendicular to the principal local structural orientation.
Diamond drill holes were drilled
with NQ-size core in order to obtain larger sample volumes of the
mineralised zones, except for holes that traversed underground
workings which were completed using BQ-size core. The core was
sealed 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 Techni-Lab 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 are sent to Bourlamaque Assay Laboratories
Ltd. in Val-d'Or for check assaying.
The drilling program is conducted
under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the
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 encompass seven
producing gold mines including Osisko Mining's new Canadian
Malartic operations. NioGold's land holdings within the Abitibi
presently cover 130km2 and encompass four
former gold producers, namely the Norlartic, Kierens (First
Canadian), Marban and Malartic Hygrade mines that collectively
produced 640,000 ounces of gold.
NioGold's experienced and qualified
technical team are overseeing the advancement of these projects,
with current drill programs underway targeting expansion of the
resource base.
NioGold invites you to visit the
company website at www.niogold.com.
For information on NioGold Mining Corporation contact:
Michael A. Iverson,
President & CEO Dale Paruk, Vice-President
miverson@niogold.com dparuk@niogold.com
Tel: (604) 856-9887Tel: (604) 662-4505
Toll-free: (877)
642-6200
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news
release.
FORWARD-LOOKING STATEMENTS
This news release includes
"forward looking statements", as that term is defined in Section
27A of the Unites States Securities Act of 1933, as amended, and
Section 21E of the United States Exchange Act of 1934, as amended,
that are subject to assumptions, risks and uncertainties.
Statements in this news release which are not purely historical are
forward looking statements, including without limitation any
statements concerning the Company's intentions, plans, estimates,
expectations or beliefs regarding the future. Although the Company
believes that any forward looking statements in this news release
are reasonable, there can be no assurance that any such forward
looking statements will prove to be accurate. The Company cautions
readers that all forward looking statements, including without
limitation those relating to the Company's future operations and
business prospects, are based on
assumptions none of which can be assured, and
are subject to
certain risks and uncertainties that could cause actual events or
results to differ materially from those indicated in the forward
looking statements. Readers are advised to rely on their own
evaluation of such risks and uncertainties and should not place
undue reliance on forward looking statements.
Any forward looking
statements are made as of the date of this news release, and the
Company assumes no obligation to update the forward looking
statements, or to update the reasons why actual events or results
could or do differ from those projected in the forward looking
statements. Except as required by law, the Company assumes no
obligation to update any forward looking statements, whether as a
result of new information, future events or otherwise.
CAUTIONARY NOTE
TO U.S. INVESTORS
The
United States Securities and Exchange Commission (the "SEC")
permits U.S. mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can
economically and legally extract or produce. We may use certain
terms in this news release, such as 'measured resources',
'indicated resources' and 'inferred resources', which the SEC
guidelines strictly prohibit U.S. registered companies from
including in their filings with the SEC. The news release may
contain information about adjacent properties on which we have no
right to explore or mine. U.S. investors are cautioned that mineral
deposits on adjacent properties may not be indicative of mineral
deposits on our properties.
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