Noble Mineral Exploration acquires rare earth property near Montviel Rare Earth Resource, Quebec
Noble Mineral Exploration Inc. [TSXV: NOB; FSE: NB7; OTCQB: NLPXF] reported the acquisition through map staking in the vicinity of a rare earth element (REE) enriched system on its Gull Lake property The property is located in two blocks of claims located within 3 km east and west of the Montviel Carbonatite-hosted Rare Earth Element resource. The Gull Lake property consists of 54 map staked units for a total of about 3,000 hectares.
The Montviel deposit is a large, rare-earth element (REE) and niobium carbonatite deposit in Quebec, Canada, owned by Geomega Resources. It has the largest bastnaesite (a group of fluoro-carbonates primarily containing cerium) REE resource estimate in North America, with approximately 266 million tonnes (Mt) grading 1.45% total rare earth oxides (TREO). The deposit is a key asset for Geomega Resources, which is focused on developing metallurgical and refining technologies to extract value from the deposit’s REEs, niobium, and other co-products like iron.
A drill hole collared within one km of the Noble claim boundary intersected and ended in carbonatite similar to that hosting the Montviel REE deposit. The drill hole was drilled in exploration for diamonds and thus not analyzed for REE or other metals.
Noble is planning a program of geophysics and drilling on the property in order to explore the property’s potential to host Rare Earth Elements.
Noble Mineral Exploration has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc. (20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~70,000ha in northern Ontario and ~24,000ha elsewhere in Quebec upon which it plans to generate option/joint venture exploration programs.
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