Val-d'Or, Quebec - December 4, 2013 - NioGold
Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) ("NioGold") is pleased to
announce the results of its sampling of 10 holes drilled in 2011 by
the previous owner of the Malartic Hygrade past producing mine
which is now 100% owned by NioGold (see news release of May
3rd, 2012) and part of our Malartic Block
property.
In December 2011, the previous owner
drilled 10 holes for a total of 915.54 metres. A few samples (39)
were taken at the time and revealed some high grade results such as
201.57 g/t Au over 1.0 metre (RG-11-009) and 7.69 g/t Au over 0.35
metre (RG-11-010). In 2013, NioGold managed to recover the core of
those holes and re-logged and sampled new intervals (162
samples).
Highlights from the sampling of new
intervals are:
-
--
3.98 g/t Au over 7.2 m which include 13.96 g/t Au over 1.2 m and include
6.89 g/t Au over 1.2 m in
hole RG-11-004 at a vertical depth of 39.0 m.
--
78.44 g/t Au over 0.7 m in hole RG-11-005 at a vertical
depth of 38.0 m.
Drill holes results:
-------------------------------------------------------------------------------
|Hole |Easting |Northing|Azimuth|Dip |Hole |From |To |Length|Grade |
| |1 |1 | | |Length| | | | |
| | (m) |(m) | | |(m) | (m) | | (m) |(g/t |
| | | | | | | | (m) | |Au) |
| | | | | | | | | | |
|-----------------------------------------------------------------------------|
|RG-11-001|274689 |5338951 |180 |-60 |108.0 |No significant results |
|-----------------------------------------------------------------------------|
|RG-11-002|274689 |5338951 |175 |-75 |216.1 |Maximum value of 180 ppb |
|-----------------------------------------------------------------------------|
|RG-11-003|274686 |5338888 |190 |-80 |51.5 |27.80 |29.00 |1.20² |0.43² |
|-----------------------------------------------------------------------------|
|RG-11-004|274684 |5338871 |172 |-80 |102.0 |35.20 |42.40 |7.20² |3.98² |
|-----------------------------------------------------------------------------|
| | | | | |incl |35.20 |36.40 |1.20² |13.96²|
|-----------------------------------------------------------------------------|
| | | | | |incl |41.20 |42.40 |1.20² |6.89² |
|-----------------------------------------------------------------------------|
| | | | | | |44.80 |62.50 |17.70³|0.33³ |
|-----------------------------------------------------------------------------|
|RG-11-005|274681 |5338855 |172 |-80 |69.0 |10.80 |25.00 |14.20³|0.68³ |
|-----------------------------------------------------------------------------|
| | | | | | |38.60 |39.30 |0.70² |78.44²|
|-----------------------------------------------------------------------------|
|RG-11-006|274681 |5338840 |178 |-80 |69.0 |No significant results |
|-----------------------------------------------------------------------------|
|RG-11-007|274668 |5338890 |188 |-80 |129.0 |116.60|128.00|11.40³|0.36³ |
|-----------------------------------------------------------------------------|
|RG-11-008|274702 |5338884 |181 |-80 |102.0 |29.80 |31.00 |1.20² |0.65² |
|-----------------------------------------------------------------------------|
|RG-11-009|274667 |5338870 |189 |-80 |29.0 |27.50 |28.50 |1.00 |201.57|
|-----------------------------------------------------------------------------|
|RG-11-010|274701 |5338868 |184 |-80 |39.9 |9.00 |9.35 |0.35 |7.69 |
|-----------------------------------------------------------------------------|
|1: UTM Nad 83 zone |2: NioGold |3: NioGold and | | | |
|18. |sampling |previous sampling | | | |
-------------------------------------------------------------------------------
Those holes were drilled on the #2
zone of the former Malartic Hygrade mine from which 23,200 tonnes
at 22.67 g/t Au were extracted between 1961 and 1963. The high
grades values obtained are in line with the exceptionally high
grade of what was mined. The results obtained are also revealing
some wide low grade intervals near surface which makes this area
worth more investigation.
"We are very happy with these
unexpected results and are more motivated than ever to continue to
compile this area which contains at least eleven zones", said
NioGold's President and CEO, Mike Iverson. "We are right now
working on our next exploration drilling program and the Malartic
Hygrade mine claims acquired last year are part of the areas where
we are looking for targets."
The former mine and those 2011 holes
are on strike and less than 2 km from the Kierens deposit on our
adjacent Marban Block property. 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 location of the
holes on the Malartic Block property is available at:
http://www.niogold.com/projects/maps/MalarticBlockCommuniqueDec2013.jpg
Technical Info, QA/QC and Qualified
Persons
Reported intervals are in core
lengths but true width is approximately 70% of the reported width.
The #2 zone is still being compiled.
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 exploration and compilation
program is 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 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) 856-9887
Tel: (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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