Val d'Or, Quebec - January 27, 2014
- NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF)
("NioGold") is pleased to provide initial details of its
exploration program, which will include 10,000 metres of core
drilling and over 2,000 metres of core re-sampling. The Company has
now completed its analysis and interpretation incorporating the
2013 exploration results (including more than 13,000 metres of
drilling) and has identified multiple new target areas for the 2014
program.
The current Marban Block gold
resource is estimated at:
Measured & Indicated: 1.53 million oz (32.1
million tonnes at 1.48 g/t), plus
Inferred: 599,000 oz (16.5 million tonnes at
1.13 g/t)
The exploration program is designed
to aggressively pursue the expansion of this resource by bringing
some satellite zones to readiness for a mineral resource estimate.
A detailed analysis of the recent exploration results, in the
context of historical exploration and production data on the
Company's properties, has identified multiple additional high
priority targets on the Marban Block, Malartic Block, and the
Malartic H properties. As part of the 2014 program the Company is
planning an initial program of core drilling, core re-sampling, and
other work to test these target areas, including:
-The Gold Hawk Zone (on the Marban Block).
This zone is part of a northwest-southeast oriented auriferous
trend of 2.3 km which is the extension of the Marban deposit. More
than 50 historical holes in this zone have been selected for
re-sampling to validate and fill in gaps in the original sampling,
with the aim of producing a resource estimate for this zone.
-The Norlartic Zone Southeast Extension (on
the Marban Block). To date, the southeastern extension of the
Norlartic deposit has been drill tested over a strike length of 1.2
km. The 2014 program will continue to test the extension within the
hanging wall of the Marban deposit.
-The Audet Zone (on the Malartic Block).
Historical work on this zone has revealed several gold intercepts.
It is part of a gold bearing trend of about 900 metres which
coincides with a 1.8 km linear magnetic high anomaly. Two hundred
metres to the northeast of this target area, another linear
magnetic high trend of almost 4 km strike length has been
identified and is coincident with a number of gold showings. The
drill program will test near surface mineralization on these trends
and also the surrounding area for parallel structures. A goal of
the 2014 program is to produce a 43-101 compliant resource estimate
for a portion of the Audet Zone.
-The past producing Malartic Hygrade mine (on
the Malartic Block). The mine is surrounded by several showings at
shallow depth multiple different orientations. Recent re-sampling
of 10 holes drilled by the previous owner returned positive results
including 3.98 g/t Au over 7.2 m and 78.44 g/t Au over 0.7 m (see
Company's news release dated December 4, 2013). The 2014 drill
program will test these target areas with core drilling.
-The H Zone (straddling the Malartic Block
and Malartic H). NioGold's 2009-2010 exploration program (see news
release dated October 7, 2010) included drill intersections of
12.39 g/t Au over 1.8 m (MH-09-014), 0.90 g/t Au
over 54.5 m (MH-10-033) and
5.42 g/t Au over 5.7 m (MH-10-078). The H Zone
mineralization appears concentrated in the hinge of a fold and the
2014 drill program is designed in part to provide a better
understanding of the geometry of this zone.
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.
The Company's properties encompass a
strategic land position on one of the world's most historic and
prolific gold districts. Work to date has defined a significant
resource on the Marban Block and numerous additional prospective
areas have been identified and advanced to the drill ready stage.
The Company believes there is high potential that the 2014
exploration will continue to expand the resource base and to build
shareholder value.
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) 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.
Niogold Mining Corp. (TSXV:NOX)
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