NioGold Mining Commences Drilling on the Malartic H Property
22 Maggio 2014 - 1:59PM
Access Wire
Val d'Or, Quebec / ACCESSWIRE
/ May 22, 2014 / NioGold Mining Corporation (TSX-V: NOX)
(OTCQX: NOXGF) ("NioGold") is pleased to announce that it has
commenced a drilling program of 1,400 metres on the H zone of the
fully owned property formerly known as the Malartic H property; now
consolidated as part of NioGold's Malartic Block property. (news
May 13, 2014)
The gold bearing H zone area has an
extent of about one kilometer and is open on strike as well as at
depth. It is located in the hinge of the synclinal of a Z-shaped
regional fold illustrated by the contact between the Jacola and
Heva formations. This zone is also affected by the Norbenite shear
zone which hosts the Kierens and Norlartic deposits, 2-3 kilometers
to the southeast on the Marban Block property also 100% owned by
NioGold. The gold bearing mineralization consists of sheared
basalts with disseminated pyrite intruded by altered felsic dykes
that are also mineralized with pyrite.
"With our drilling campaign in
2009-2010, we were able to interpret the zone as undulating and
changing orientations," said Yan Ducharme, Vice-President
Exploration of NioGold. He added, "We are excited to test our
geological model. This H zone is near surface, contains at least
two parallel zones, has decent widths and grades and is in an
isolated area that is easily accessible with a nearby road. Our
goal is to confirm the geological continuity of the zones and then
start building ounces. The H zone area is near our Marban Block
project where we have three deposits and hopefully this could
become a fourth."
The Marban Block has 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).
A map showing the H zone area is
available on the website at the following link (right click and
open hyperlink):
H zone area map
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 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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