Val d'Or, Quebec / ACCESSWIRE / May
13, 2014 / NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF)
("NioGold") is pleased to announce that it has consolidated 100%
ownership of the Malartic H property ("the Property"). NioGold
originally acquired a 60% interest in the Property from Breakwater
Resources Ltd ("Breakwater") - see NioGold's news release dated
October 7, 2010. NioGold has acquired the remaining 40% from
Breakwater for a cash payment of $100,000 CAN.
"The
Malartic H purchase completes our 100% ownership of an important
property package in our Marban-Malartic holdings," said Michael
Iverson, President and CEO of NioGold. "Our mandate has been to
control 100% of the properties we acquire, and this is a
continuation of that strategy that we have employed over the past 8
years. This property is north and west of our Marban resources at
Kierens, Norlartic and Marban and could be developed as part of an
overall mine plan. The excellent intersections previously drilled
at Malartic H confirm that NioGold's properties are part of a
growing mining camp in the world-class Abitibi greenstone belt. We
will be implementing a drill program on the Malartic H
property."
The
Property consists of 18 claims for a total surface of 7.3 square
kilometres and is located 7.5 kilometres northeast Osisko's
Canadian Malartic mine (over 9 million ounces gold). The Malartic H
property adjoins NioGold's 100% owned Malartic Block and will be
amalgamated into this property. For future reference the entire
land package will be referred to as the Malartic Block
property.
The link
below shows the location of the Malartic H property adjoining the
Malartic Block. The Malartic H property has been highlighted in
'dark brown'.
Malartic H
property location
The Property contains a 700 metres
strike of the gold bearing H trend which extend over a length of
1000 metres and contains up to four parallel zones. This trend
extends on NioGold's fully owned Malartic Block property. The
southeastern projection of the trend leads to the Kierens deposit
at about 2 km on NioGold's fully owned Marban Block. The H zone is
open in both directions and at depth.
The results of some historical holes
on the H zone inside the Malartic H and on the Malartic Block are
indicating a strong potential near surface:
-4.09 g/t Au over 12.3 m in hole
MH-89-09 at a vertical depth of 11 m.
-4.43 g/t Au over 3.9 m and 3.94 g/t
Au over 7.3 m in hole 54-31 at a vertical depth of 20 and 69 m
respectively.
-1.85 g/t Au over 13.8 m in hole
MH-89-12 at a vertical depth of 28 m.
-19.46 g/t Au over 1.0 m in hole
54-17 at a vertical depth of 41 m.
During the earn-in 2009-2010
drilling campaign on the H trend NioGold intersected:
-12.39 g/t Au over 1.8 m in hole
MH-09-014 at a vertical depth of 7 m.
-0.90 g/t Au over 54.5 m in hole
MH-10-033 at a vertical depth of 26 m.
-1.63 g/t Au over 10.4 m in hole
MH-10-076 at a vertical depth of 63 m.
-5.42 g/t Au over 5.7 m in hole
MH-10-078 at a vertical depth of 182 m.
These intercepts are confirming the
strong potential at surface with low grade mineralization with
higher grade shoots, but also that the potential is continuing at
depth with high grade mineralization.
A map showing the geology and drill
hole locations of the Malartic H zones is available on the website
at the following link:
Malartic H geology and
drill hole locations
The exploration and
compilation 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 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,
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 Dale
Paruk
President & CEO
Vice-President Corporate Development
miverson@niogold.com dparuk@niogold.com
Tel: (604) 856-9887 Tel: (604)
510-4505
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.
SOURCE: NioGold Mining Corporation
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