Noble talks up new discovery at Timmins VMS project
Noble Mineral Exploration Inc. [NOB-TSXV; NLPXF-OTC; NB7-FSE] on Thursday March 11 released an update on the diamond drilling campaign on the Project 81 – Dargavel Gold Trend near Timmins, Ontario.
Noble is a junior exploration company, which in addition to interests in Canada Nickel Co. Inc. [CNS-TSXV; CNIKF-OTCQB], Spruce Ridge Resources Ltd. [SHL-TSXV] and MacDonald Mines Exploration Ltd. [BMK-TSXV] and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane area of northern Ontario known as Project 81.
Project 81 is one contiguous parcel of land covering parts or all of 14 townships adjacent to the Kidd Creek Mine Complex which produced 150 million tonnes of VMS ores over 50 years. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration.
On Thursday, Noble said it completed six NQ size diamond drill holes totalling 1,390.5 metres, resulting in 822 core samples being sent to Activation Laboratories Ltd. in Timmins for analysis.
The objective of the drilling campaign was to duplicate and expand on gold, platinum and palladium results published in historical drill hole (25013) drilled in 1960 by CANICO and drill hole (K84-03) drilled in the 1980s by Chevron Canada Resources Ltd.
Noble said the 2020 program found anomalous gold values but not with the same widths or grade as the historical holes. It said uncertainty on the precise location of the historical drilling may be at fault. However, the program established that the Dargavel Gold Trend might be much larger and more continuous than originally thought.
Drilling highlights include DAR 20-06, which returned 0.52 g/t gold over 19.8 metres, and 2.41 g/t gold over 1.5 metres. Nobel believes this hole needs to be deepened and is the top of a larger gold mineralized zone.
Hole DAR 20-05, which returned 0.67 g/t over 18.0 metres and a combined 3.65 g/t gold-platinum-palladium over 1.5 metres in a sulphide-rich, altered mafic intrusive unit, and is a completely new discovery that targeted an interpreted fold nose previously not tested. This discovery ties in the historical mineralization to the northwest to that in the southeast.
Two years ago, Noble said it planned to create the Canada Nickel Company, an entity set up to own a consolidated 100% interest in the Crawford nickel-cobalt sulphide project which is located in the Timmins-Cochrane area of northern Ontario.