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NOXGF: Each former shareholder of the Company received 0.4167 common shares of Oban in exchange for each share of the Company held.
FINRA deleted symbol:
http://otce.finra.org/DLDeletions
NioGold Mining Corporation (TSX-V:NOX) North Zone Drilling Expands Satellite Zone near Norlartic Deposit
(via Thenewswire.ca)
Val-d'Or, Quebec - April 4, 2013 - NioGold Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) ("NioGold") is pleased to announce the results of its 18 hole, 4,395 meter exploration drilling program of the North zone on the Marban Block (100% owned by NioGold and under option to Aurizon).
The Marban Block contains the Kierens, Norlartic and Marban deposits which have a collective resource estimate of 1.56 M ounces (28.5 millions of tonnes at 1.70 g/t) in the measured and indicated categories and 0.51 M ounces (9.6 millions of tonnes at 1.66 g/t) in the inferred category (see news release of September 7th, 2012).
The North zone is a satellite zone to the Norlartic deposit, located 200-300 metres northeast and parallel to Norlartic and consists of three sub-zones named A (north-easternmost), B (centermost) and C (south-westernmost).
Highlights from the North zone drill program include
4.47 g/t Au over 3.4 m in hole NL-13-074 at a vertical depth of 40 m.
3.75 g/t Au over 4.8 m and 2.93 g/t Au over 5.3 m in hole NL-13-078 at a vertical depth of 35 m and 45 m respectively.
15.41 g/t Au over 2.8 m in hole NL-13-080 at a vertical depth of 80 m.
1.45 g/t Au over 23.4 m in hole NL-12-066 at a vertical depth of 205 m.
1.81 g/t Au over 7.6 m in hole NL-13-071 at a vertical depth of 130 m.
Two holes that were drilled to test the North zone were extended to a depth that also intersected the adjacent Norlartic trend with the following results:
84.10 g/t Au over 1.2 m in hole NL-13-073 at a vertical depth of 215 m. For technical reasons, this hole was abandoned before crossing the entire Norlartic structure.
2.18 g/t Au over 24.7 m in hole NL-13-075 at a vertical depth of 260 m.
"We are very pleased with these results, they are in line with what we expected in the North zone" said Michael Iverson, President and CEO of NioGold. He added, "Our investigation of this satellite zone of the Norlartic deposit is part of our goal to develop the huge potential of the Marban Block. The results to date indicate that the North zone as well as the Norlartic and Kierens deposits may be amendable to open pit mining, as widths and grades are similar to the Marban deposit which has been modeled for open pit extraction".
The North zone was drilled between December 7th, 2012 and February 21st, 2013 with one drill. Drilling comprised 4,394.6 meters in 18 holes (one an extension of a 2006 hole). The campaign then continued on the Kierens deposit which was completed March 22nd, 2013. This program utilized up to four drills operating on ice bridges. Results from this program will be reported when received and compiled.
This Marban Block drilling is part of the $1.6 million program funded by NioGold. In the event of Aurizon's decision to proceed with the Phase III program, Aurizon will immediately reimburse Niogold for the costs of the exploration program and such amount will then be applied to Aurizon's earn-in requirement. Aurizon has $9.0 million of spending commitments remaining on the project as part of the Phase III program.
Drill holes results:
A map showing the location of the new holes is available at:
http://www.niogold.com/projects/maps/MarbanBlockNR-April2013.jpg
Aurizon Option
Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010, between NioGold and Aurizon. The initial 50% interest can be earned by incurring expenditures of $20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold remains the project operator during the initial earn-in period (see news release dated July 6, 2010).
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths but are anticipated to approximate true width, except where structural complexities occur, as the holes were drilled near perpendicular to the principal local structural orientation.
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 ALS Chemex in Val-d'Or, 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 2 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 drilling program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the 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 & CEODale Paruk, Vice-President
miverson@niogold.comdparuk@niogold.com
Tel: (604) 856-9887Tel: (604) 662-4505
Toll-free: (877) 642-6200
Cambridge House Investment Conference Coverage 2013 - Vancouver
Exclusive coverage of the event, investor opinions and outlooks for the future and 1 on 1 interviews with Peter Schiff, Jay Taylor and other event speakers.
Dale Paruk of NioGold is also interviewd in this video.
Watch the video:
NioGold Begins Program On Marban Block Property
Source: http://bit.ly/VZX05r
Val-d'Or, Quebec -- NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF) ("NioGold") is pleased to announce that it has commenced a $1.6M exploration program on its Marban Block property, currently under option to Aurizon, to drill the Kierens and Norlartic deposits and the North zone.
The Marban Block property contains the Kierens, Norlartic and Marban deposits which have a collective resource estimate of 1.56 M ounces (28.5 millions of tonnes at 1.70 g/t) in the measured and indicated categories and 0.51 M ounces (9.6 millions of tonnes at 1.66 g/t) in the inferred category (see news release of September 7, 2012).
The drilling at Kierens and Norlartic will explore the open pit potential of these two deposits, further test their extensions in all directions, and attempt to convert the existing inferred resources to a higher category. Both require winter drilling programs due to the need to build ice bridges on the Keriens Creek, located north-east of the Kierens-Norlartic trend, in order to drill the upper part of the deposits.
The North zone is located about 200m northeast and parallel to the Norlartic zone, and consists of three sub-zones named A (north-easternmost), B (centermost) and C (south-westernmost). The drilling at the North zone will investigate the potential for a resource estimate and possible open pit scenario.
Due to the timing requirements for winter drilling, and in light of Aurizon's ongoing review of the Phase II data, Niogold has agreed to fund the exploration program at this time. The parties have further agreed, however, that upon Aurizon's decision to proceed with the Phase III program, Aurizon will immediately reimburse Niogold for the costs of the exploration program and such amount will then be applied to Aurizon's earn-in requirement.
Aurizon Option
Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010, between NioGold and Aurizon. The initial 50% interest can be earned by incurring expenditures of $20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold remains the project operator during the initial earn-in period (see news release dated July 6, 2010).
Technical Info, Qualified Persons and QA/QC
The drilling programs are conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the NioGold Vice president of exploration and a Qualified Person as defined by National Instrument 43-101. The news released 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 130 km2 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 Mining Corp. (NOX.V) Peter Hawley Appointed Chair
December 4, 2012 - NioGold Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) ("NioGold") is pleased to announce that Mr. Peter Hawley has accepted the appointment as Chairman of NioGold.
Mr. Hawley is a professional geologist with over 30 years experience in the mining industry, from grassroots exploration through to mine development and production, on projects throughout the Americas. He spent over 22 of those years working in the Val D'Or mining camp, including the Noralartic, Kierens and Marban mines - all of which are now part of NioGold's current land holdings and being actively re-evaluated by NioGold.
Mr. Hawley has worked extensively with a number of large and established mining companies, including Teck Corp., Noranda Inc., Placer Dome Inc., Aur Resources and Barrick Gold Corp. In 1998, he founded Scorpio Mining Corporation, a low cost underground silver producer in Mexico which is listed on the TSX with a market capitalization of $200 million. Peter served as Scorpio Mining's CEO until November 2010 and currently holds office as Chairman of the Board. During his time at Scorpio Mining, Peter managed and participated in all exploration, staffing, mine development and production design, in addition to raising over $120M for the project's development. After stepping down as CEO of Scorpio Mining, he founded Scorpio Gold Corporation where he has served to date as CEO. Within 17 months of purchasing the Mineral Ridge Gold mine in Nevada, Scorpio Gold brought the low cost open pit gold mine into production with Peter overseeing all construction, mine planning and development, and exploration while raising all the capital required for build-out of the project.
Mr. Hawley also continues to serve as a director and officer of a number of other public companies, and brings a wealth of experience in project exploration and development, financing and corporate governance to NioGold.
Mr. Iverson, President and CEO of NioGold, states "We are extremely pleased and excited that Peter will take on a more active role in NioGold. His personal knowledge of our flagship projects, combined with his knowledge and experience in exploration and mine planning and development in general, will be a great asset to us as we continue to plan and execute on the development of our properties."
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, with current drill programs underway targeting expansion of the resource base.
Ludovick Zone Extended Over A Length Of 1.3 KM
November 06, 2012
Source: http://bit.ly/TIfiXK
Val-d'Or, Quebec -- NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF) ("NioGold") is pleased to announce the results of its exploration drilling program in the southern part of the Malartic Block (100% owned by NioGold). This property is adjacent to the Marban Block property where the Norlartic, Kierens and Marban deposits have a collective resource estimate of 1.56 M ounces in the measured and indicated categories and 0.51 M ounces in the inferred category (see news release of September 7, 2012).
The results of the campaign show that the south-western part of the Malartic Block property, which is contiguous to Osisko's Canadian Malartic property, has occurrences of gold in every area that was investigated, indicating strong exploration potential for this underexplored part of the property.
The Ludovick zone was identified in 2011 with holes CW-11-016 (3.15 g/t Au over 6.5 m) and CW-11-021 (8.17 g/t Au over 3.1 m). The 2012 drilling campaign confirmed that this zone is an auriferous trend that extends over at least 1.3 km.
The highlights on the Ludovick zone are:
23.40 g/t Au over 1.0 m in hole CW-12-083 at a vertical depth of 115 m.
6.25 g/t Au over 0.7 m in hole CW-12-091 at a vertical depth of 170 m.
These intercepts are within a lower grade interval of mineralization. A parallel zone was also intersected 70 metres to the north with results of:
9.55 g/t Au over 1.1 m in hole CW-12-090 at a vertical depth of 22 m.
350 metres to the south of the Ludovick trend, within a lower grade interval of 0.58 g/t Au over 49.1 m, the following higher grade interval was encountered, demonstrating the potential similarity with Osisko's ground:
9.06 g/t Au over 2.0 m in hole CW-12-075 at a vertical depth of 115 m.
On the southern fence, near Osisko's Canadian Malartic property, each hole drilled returned anomalous gold values, sometimes over large widths. The best result was:
22.20 g/t Au over 1.0 m in hole CW-12-087 at a vertical depth of 85 m. This result was obtained on the field duplicate sample (one quarter split of the core), showing a probable nugget effect (the original sample yield 0.16 g/t Au).
The best result on the Western Fence is:
6.82 g/t Au over 1.0 m in hole CW-12-080 at a vertical depth of 110 m
Drill holes results:
Hole Easting1 Northing1 Azimuth Dip Hole Length (m) From (m) To (m) Length (m) Grade (g/t Au) Zones
Central Fence
CW-12-073 716852 5337845 N205° -42° 264.0 113.7 116.4 2.7 0.54
CW-12-074 716915 5337490 N207° -44° 85.0 Nothing above 50 ppb
CW-12-075 716893 5337440 N205° -45° 165.0 112.9 162.0 49.1 0.58
incl 158.8 161.0 2.2 9.06
Ludovick Zone
CW-12-076 717642 5337420 N205° -45° 252.0 99.5 100.6 1.1 1.56 Ludovick
CW-12-083 716955 5337821 N203° -45° 594.0 156.6 167.1 10.5 0.20 Ludovick
incl 167.1 168.1 1.0 23.40 Ludovick
CW-12-089 717246 5337578 N205° -45° 258.0 43.8 45.0 1.2 1.12 Ludovick
CW-12-090 717795 5337348 N205° -45° 201.0 29.3 30.4 1.1 9.55
102.6 106.2 3.6 0.22 Ludovick
CW-12-091 717909 5337370 N204° -55° 306.0 215.2 215.9 0.7 6.25 Ludovick
CW-12-092 718032 5337399 N203° -70° 504.0 347.4 348.6 1.2 1.06 Ludovick
CW-12-093 718067 5337234 N208° -45° 210.0 51 51.5 0.5 3.10
99.5 106.2 6.7 0.41 Ludovick
Western Fence
CW-12-077 715892 5336910 N181° -45° 255.0 119.8 121.1 1.3 0.26
CW-12-078 715906 5336550 N180° -45° 276.0 268.5 271.1 2.6 0.20
CW-12-079 715897 5336720 N182° -45° 249.0 89.3 90.5 1.2 0.25
CW-12-080 715879 5337064 N183° -45° 285.0 158.5 159.5 1.0 6.82
CW-12-081 715876 5337312 N183° -45° 321.0 311.2 313.6 2.4 0.22
CW-12-082 715866 5337527 N184° -45° 258.0 47.1 48.2 1.1 1.15
151.4 153.9 2.5 0.83
Southern Fence
CW-12-084 716720 5336330 N205° -45° 198.0 Nothing above 63 ppb
CW-12-085 716503 5335774 N206° -45° 198.0 28.9 30.0 1.1 0.59
CW-12-086 716554 5335908 N204° -45° 249.0 156.2 174.4 18.2 0.16
193.2 200.3 7.1 0.14
CW-12-087 716611 5336046 N205° -45° 213.0 122.1 123.1 1.0 22.202
CW-12-088 716806 5336146 N203° -45° 207.0 27.4 31.5 4.1 0.24
133.3 134.3 1.0 3.20
143.4 144.5 1.1 1.13
157.5 160.0 2.5 0.25
1: UTM Nad 83 Zone 17
2: Value obtained on the field duplicate sample (1/4 of the core)
Based on these very promising results on the Malartic Block and other targets also present, a follow-up drilling program is being designed, targeting the following areas:
The Ludovick zone auriferous trend which is now 1.3 km long, might be extended to as much as 2.8 km since some holes drilled in 2011 (MB-11-029 and 030) intersected low grade intervals in the same geological context 1.5 km further to the northwest.
The Audet zone where there is a historical resource.
The southern part of the Malartic Block property which is adjacent to Osisko's property and where almost all the holes were gold bearing.
The Malartic Hygrade mine zones and the Camflo mine extension at depth.
The H zone where in 2009 and 2010 NioGold intercepted very interesting intervals near surface (5.42 g/t Au over 5.7 m in MH-10-078 and 0.90 g/t Au over 54.5 m in MH-10-033).
Test the north-western extension of Marban Block's Kierens mine, the North and the North-North zones.
Several additional showings need to be assessed to verify if a follow up is warranted.
A figure is illustrating the southern part of the Malartic Block. (click here)
Malartic Block drilling
The drilling campaign was conducted in the spring and totalled 5,548 metres in 21 holes. The program was performed in the southwestern part of the property. Seven (7) holes for 2,325 m investigated the extensions of the Ludovick zone. A central fence of three (3) holes for 514 m explored just south of the Ludovick zone. A western fence of six (6) holes for 1,644 m tested numerous geophysical anomalies which have been identified during the property compilation work. The southern fence consisted of five (5) holes for 1,065 m targeting the southern geological units from the Cadillac Group and directed at understanding the context and comparison to Osisko's Canadian Malartic property which is contiguous.
Marban Block drilling
Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010, between NioGold and Aurizon. The initial 50% interest can be earned by incurring expenditures of $20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold remains the project operator during the initial earn-in period (see news release dated July 6, 2010).
After $6M (Phase 1) of exploration expenditure, the resource estimate for the property is now at 1.56 M ounces in the measured and indicated categories and 0.51 M ounces in the inferred category, representing an increase of 260% and 141% respectively.
A $5M (Phase 2) exploration program is currently being integrated in an update of the resource estimate.
For the remaining $9M (Phase 3) exploration program, several targets are under consideration:
Extend the resource of the Norlartic and Kierens deposits and investigate further their open pit potential.
Increase the amount of ounces inside the Marban deposit pit shell.
Test and expand the North, North-North and Gold Hawk zones to integrate them in a 43-101 compliant resource estimate.
Extend the Eastern Down Dip zone of the Marban deposit.
Investigate the new discovery made during Phase 2, the southeast extension of the Norlartic system, the felsic intrusion in the hanging wall of the Marban deposit and two gold bearing areas which seem to be the north extension of the Marban deposit.
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths but are anticipated to approximate true width, except where structural complexities occur, as the holes were drilled near perpendicular to the principal local structural orientation.
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 ALS Chemex in Val-d'Or, 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 2 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 drilling program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the 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 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, with current drill programs underway targeting expansion of the resource base.
Looks ke the profit taking is over ! Next pr we could see a nice push
Defining over 1m oz AU in the resource estimate, always good news to hear! Was thinking it would pop but is still holding back. Am going to be watching this one closely the next couple days, I see a strong run coming.
They also came out with a video on the news release: http://bit.ly/QrxRxf
Aurizon Announces an Updated Mineral Resource Estimate for Niogold's Marban Deposit
Val-d'Or, Quebec - September 7, 2012 - NioGold Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) ("NioGold") is pleased to announce that Aurizon Mines Ltd. ("Aurizon") has announced an updated mineral resource estimate for the Marban deposit. The deposit is located on NioGold's Marban Block property, in the Malartic gold camp, Abitibi region of Quebec, which is currently under option to Aurizon. Pursuant to the option, the parties have planned a three Phase drill program of which Phases 1 and 2 have been completed, and Phase 3 is in planning.
The updated mineral resource estimate, based on Phase 1 results, was prepared by SGS Canada Inc. - Geostat ("SGS Geostat") under guidelines set by Aurizon's personnel. All information of a scientific or technical nature in this release has been reproduced from Aurizon's news release dated September 7, 2012. NioGold has not at this time independently verified any of the scientific or technical information in Aurizon's news release and reproduced in this release.
Resource Estimate from Phase 1 (August 2010 - August 2011)
The updated mineral resource estimate integrates the results of NioGold's drill programs on the Marban deposit up to the mineral resource estimate prepared by Mine Development Associates ("MDA") on December 1, 2009, and the results of the Phase 1 drill program which was completed last year on August 9, 2011. The updated mineral resource estimate does not:
-incorporate the results of the recently completed Phase 2 drill program, comprised of 34,658 metres distributed in 90 new holes, that investigated the Marban deposit along strike, especially in the Western High Grade zone and the Eastern Down Dip zone
-incorporate the mineral resource estimates for the Norlartic and Kierens deposits, located north-west of the Marban deposit, which were previously reported on by MDA and which remain unchanged (see Table 4).
The Phase 1 drill program comprised a total of 41,270 metres distributed in 146 new holes, drilled between August 30, 2010 and August 9, 2011.
Based on a cut-off grade of 0.35 grams of gold per tonne and a high value capping of 25 grams of gold per tonne, the in-pit mineral resource is estimated at 20,700,000 tonnes at 1.58 grams of gold per tonne or 1,053,000 ounces of gold in the measured and indicated category plus at 3,780,000 tonnes at 1.60 grams of gold per tonne or 194,000 ounces of gold in the inferred category. The resource outside of the pit shell and using a cut-off grade of 2.0 grams of gold per tonne is estimated at 980,000 tonnes at 2.82 grams of gold per tonne or 89,000 ounces of gold in the measured and indicated category plus 800,000 tonnes at 2.68 grams of gold per tonne or 69,000 ounces of gold in the inferred category.
Table 1: Marban Deposit 2012 Mineral Resource Estimate (uncapped results shown for comparison)
-------------------------------------------------------------------
| |Cut-off |Category|Tonnes1|Grade |Gold |Average|
| |Grade | | |(capped)2|(capped)3|Metal |
| |(Au g/t)| | |(g/t Au) |(Ounces) |Loss |
| | | | | | |due |
| | | | | | |to |
| | | | | | |Capping|
|-----------------------------------------------------------------|
|In-pit |0.35 |M+I |20 700 |1.58 |1 053 000|18.8% |
| | | |000 | | | |
| |---------------------------------------------|
| |Inferred|3 780 |1.60 |194 000 |65.9% |
| | |000 | | | |
|-----------------------------------------------------------------|
|Underground|2.0 |M+I |980 000|2.82 |89 000 |16.0% |
| |---------------------------------------------|
| |Inferred|800 000 |2.68 |69 000 |17.9% |
|-----------------------------------------------------------------|
|Total | |M+I |21 670 |1.64 |1 141 000|18.7% |
| | | |000 | | | |
| |---------------------------------------------|
| |Inferred|4 580 |1.79 |263 000 |59.7% |
| | |000 | | | |
-------------------------------------------------------------------
The mineral resource estimate has been calculated using the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definitions Standards for mineral resources in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
Mineral resources update effective date: November 16, 2011.
1: Rounded to nearest 10 thousand.
2: High value capped at 25 g/t Au on assays.
3: Rounded to nearest 1 thousand.
"Following the resource estimate in 2010, our target was to increase the amount of ounces near surface on the Marban deposit to assess if an open pit scenario was possible. The results of this update of the resource estimate are showing that we achieved our goal" said Mike Iverson Niogold's President and CEO.
The in-pit and underground resources have been estimated based on the following parameters:
-Two distinct mining scenarios: open-pit and underground. The open pit mineral resources are reported within an initial Whittle pit shell;
-The base case scenario was performed with a minimum cut-off grade of 0.35 grams of gold per tonne;
-A total of 1,684 holes including 333 historical surface holes for a total of 136,789 metres of surface drilling and 1,205 historical underground holes for a total of 61,256 metres;
-A total of 858 underground channels and chips samples;
-A total of 107,904 assays which are available in the database;
-A capping of 25 grams of gold per tonne was applied to the assays.
-The mineral resources were modeled and estimated using SGS Proprietary software, Genesis 1.0.17;
-mineral resource model was interpreted from 144 transverse sections at intervals of 12.5 metres and from level plans at intervals of 5 metres;
-The interpolation was conducted on composite assays of 2 metres in length;
-The interpolation was done by Ordinary Kriging in two stages: One block model using mineralised envelopes for the high grade mineralisation (>0.5 grams of gold per tonne), and another block model for the lower grade mineralisation located outside the defined mineralised envelopes;
-The block model was defined by blocks of 5 metres long by 5 metres wide by 5 metres thick and covers a strike length of 1,400 metres to a maximum depth of 700 metres below surface;
-An average drill spacing of 25 metres x 25 metres was used for the measured and indicated resources;
-The average relative density used to calculate the tonnage of the Marban deposit was adjusted to 2.77 tonnes/cubic metre;
-The historical Marban production was removed from the mineral resources;
-The Whittle pit optimisation was performed by SGS Geostat using a gold price of US$1,350 per ounce and an exchange rate of 1:1;The simulated pit is 1,400 metres long, 850 metres wide and 350 metres deep. The mineral resources located outside the Marban deposit optimised pit shell is evaluated using an underground ("U/G") mining scenario. The base case cut-off grade for U/G mineral resources for the Marban deposit has been set at 2.0 grams of gold per tonne.
Sensitivity Analysis of the Resources
The mineral resource sensitivity is presented in the next 2 tables with different cut-off grades from 0.35 to 3.0 grams of gold per tonne.
Table 2: Marban Deposit - In-Pit Mineral Resource
-----------------------------------------------------------------
|Cut-off |Category |Tonnes1 |Grade |Gold |Average |
|Grade | | |(capped)2|(capped)3|Metal |
|(Au g/t) | | |(g/t Au) |(Ounces) |Loss |
| | | | | |due |
| | | | | |to Capping|
| |
| |
|---------------------------------------------------------------|
|0.35 |Measured |8 650 000 |1.72 |479 000 |9.1% |
|(Base case)| | | | | |
| |---------------------------------------------------|
| |Indicated|12 050 000|1.48 |574 000 |25.5% |
| |---------------------------------------------------|
| |M+I |20 700 000|1.58 |1 053 000|18.8% |
| |---------------------------------------------------|
| |Inferred |3 780 000 |1.60 |194 000 |65.9% |
|---------------------------------------------------------------|
|0.5 |Measured |8 500 000 |1.75 |477 000 |9.1% |
| |---------------------------------------------------|
| |Indicated|11 990 000|1.49 |573 000 |25.5% |
| |---------------------------------------------------|
| |M+I |20 490 000|1.59 |1 050 000|18.9% |
| |---------------------------------------------------|
| |Inferred |3 780 000 |1.6 |194 000 |65.9% |
|---------------------------------------------------------------|
|1.0 |Measured |6 940 000 |1.96 |437 000 |9.9% |
| |---------------------------------------------------|
| |Indicated|9 360 000 |1.67 |502 000 |28.1% |
| |---------------------------------------------------|
| |M+I |16 300 000|1.79 |938 000 |20.7% |
| |---------------------------------------------------|
| |Inferred |3 090 000 |1.77 |176 000 |67.5% |
-----------------------------------------------------------------
1: Rounded to nearest 10 thousand.
2: High value capped at 25 g/t Au on assays.
3: Rounded to nearest 1 thousand.
Table 3: Marban Deposit - Underground Mineral Resource (Outside the pit shell)
----------------------------------------------------------------
|Cut-off Grade|Category |Tonnes1|Grade |Gold |Average |
|(Au g/t) | | |(capped)2|(capped)3|Metal |
| | | |(g/t Au) |(Ounces) |Loss |
| | | | | |due |
| | | | | |to Capping|
| |
| |
|--------------------------------------------------------------|
|2.0 |Measured |360 000|3.03 |35 000 |12.5% |
|(Base case) | | | | | |
| |------------------------------------------------|
| |Indicated|620 000|2.70 |53 000 |18.5% |
| |------------------------------------------------|
| |M+I |980 000|2.82 |89 000 |16.0% |
| |------------------------------------------------|
| |Inferred |800 000|2.68 |69 000 |17.9% |
|--------------------------------------------------------------|
|2.5 |Measured |220 000|3.55 |25 000 |13.8% |
| |------------------------------------------------|
| |Indicated|290 000|3.26 |30 000 |23.1% |
| |------------------------------------------------|
| |M+I |510 000|3.39 |55 000 |19.1% |
| |------------------------------------------------|
| |Inferred |390 000|3.20 |40 000 |24.5% |
|--------------------------------------------------------------|
|3.0 |Measured |130 000|4.09 |17 000 |15.0% |
| |------------------------------------------------|
| |Indicated|160 000|3.71 |19 000 |26.9% |
| |------------------------------------------------|
| |M+I |290 000|3.88 |36 000 |27.8% |
| |------------------------------------------------|
| |Inferred |190 000|3.73 |22 000 |24.1% |
----------------------------------------------------------------
1: Rounded to nearest 10 thousand.
2: High value capped at 25 g/t Au on assays.
3: Rounded to nearest 1 thousand.
Geology
The Marban mineralized system has a funnel shape corresponding to a 400 to 700 metres wide multi-folded structure in the upper part and a more steeply dipping root at depth, with thicknesses in the range of 100 to 200 metres. Mineralized zones and structures are developed in east-west oriented schistosed basalt altered to carbonate, chlorite and albite. Shear zones dip 45? to 70? to the north and are from 10 to over 70 meters wide. Gold grade typically correlates with an increasing density of quartz veining associated with disseminated pyrite and pyrrhotite. The hanging wall and footwall are composed mainly of ultramafic units.
The historical production from this mine is 1.98 million tonnes at 5.27 grams of gold per tonne for 330,000 ounces produced.
Marban Property Mineral Resources
The Marban deposit currently represents the core of the mineral resources located on the Marban property. The Norlartic and Kierens deposits represent two additional mineral resources, reported on by Mine Development Associates (MDA) December 1, 2009. The project comprises 3 mining lease and 42 claims covering 976 hectares.
The following table provides the details of the total mineral resources for the Marban Block property, as updated by the SGS September 2012 mineral resource estimate on the Marban deposit. Note that MDA's previous estimate on the Marban deposit used a cut-off grade of 2.5 g/t, compared to SGS's use of a cut-off grades of 0.35 g/t and 2.0 g/t.
Table 4: Marban Block property - Mineral Resource Summary
---------------------------------------------------------------------------------------------------------
| | | |September 6, 2012 | | |December 1, 2009 | | |
|-------------------------------------------------------------------------------------------------------|
|Deposit |Cut-off |Category|Tonnes1|Grade|Gold2 | |Cut-off|Tonnes1|Grade|Gold2 | |Gain |
| |Grade | | |(g/t |(Ounces)| |Grade | |(g/t |(Ounces)| |(Ounces)|
| |(Au g/t) | | |Au) | | |(Au | |Au) | | | |
| | | | | | | |g/t) | | | | | |
| |-----------| |-------| |
| | | | | |
|-------------------------------------------------------------------------------------------------------|
|Marban |0.35 |M+I |20 |1.58 |1 053 | | | | | | |1 053 |
| |In-pit | |700 | |000 | | | | | | |000 |
| | | |000 | | | | | | | | | |
| |-----------------------------------------------------------------------------------|
| |Inferred |3 780 |1.6 |194 | | | | | | |194 |
| | |000 | |000 | | | | | | |000 |
| |--------------------------------------------------------------------------------------------|
| |2.0 |M+I |980 |2.82 |89 000 | |2.5 |1 240 |4.55 |181 000 | |(92 |
| |Underground| |000 | | | | |000 | | | |000) |
| |-----------------------------------------------| |---------------------------|
| |Inferred |800 000 |2.68 |69 | |870| |4.08 |114 | |(45 |
| | | | |000 | |000| | |000 | |000)|
|-------------------------------------------------------------------------------------------------------|
|Norlartic4|0.5 / 2.53 |M+I |5 420 |1.82 |316 000 | |0.5 / |5 420 |1.82 |316 000 | | |
| | | |000 | | | |2.53 |000 | | | | |
| |-----------------------------------------------| |---------------------------|
| |Inferred |3 200 |1.44 |148 | |3 | |1.44 |148 | | |
| | |000 | |000 | |200| | |000 | | |
| | | | | | |000| | | | | |
|-------------------------------------------------------------------------------------------------------|
|Kierens4 |0.5 / 2.53 |M+I |1 440 |2.19 |101 000 | |0.5 / |1 440 |2.19 |101 000 | | |
| | | |000 | | | |2.53 |000 | | | | |
| |-----------------------------------------------| |---------------------------|
| |Inferred |1 780 |1.73 |99 | |1 | |1.73 |99 | | |
| | |000 | |000 | |780| | |000 | | |
| | | | | | |000| | | | | |
|-------------------------------------------------------------------------------------------------------|
|Total | |M+I |28 |1.7 |1 559 | | |8 100 |2.3 |599 000 | |960 000 |
| | | |540 | |000 | | |000 | | | | |
| | | |000 | | | | | | | | | |
| |-----------------------------------------------| |---------------------------|
| |Inferred |9 560 |1.66 |510 | |5 | |1.92 |361 | |149 |
| | |000 | |000 | |850| | |000 | |000 |
| | | | | | |000| | | | | |
---------------------------------------------------------------------------------------------------------
The mineral resource estimate has been calculated using the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definitions Standards for mineral resources in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
Mineral resources update for Marban gold deposit is effective date: November 16, 2011.
Mineral resources update for Norlartic and Kierens deposit is effective date: December 1, 2009.
1: Rounded to nearest 10 thousand.
2: Rounded to nearest 1 thousand.
3: 0.5 g/t Au cut-off on resources from surface to 200 metres vertically and 2.5 g/t Au cut-off below 200 metres.
4: Mineral resource estimate reported by MDA Dec 1, 2009.
Outlook from Phase 2 drilling program
The results of 90 holes and 9 extensions of previous holes of the Phase 2 of the drilling program have successfully confirmed the extension of the different zones of the Marban mineralized system (see the news releases dated March 1, April 26, June 12, and August 15 2012). The objectives of this program on the Marban deposit were to improve the quality of the near surface resources, developing a mineral inventory below a depth of 250 vertical metres and outside the known lateral extension.
An updated mineral resource will be produced in order to integrate the results of the Phase 2 drilling program in the resource estimate.
The preliminary metallurgical testwork at Marban indicates a favourable recovery between 95.4% and 97.6% for the ore cyanidation test (see news release dated April 24, 2012). The Bond ball mill testing indicated the ore fell in the medium soft to medium range of hardness compared to the SGS database (10.1-10.9 kWh/t).
A baseline environmental study has been initiated and being prepared by Golder Associates and should be completed by the end of the year.
A third phase of drilling will be initiated later this month. There is still $9M to be spent in the earn-in option with Aurizon.
Aurizon Option
Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010, between NioGold and Aurizon. The initial 50% interest can be earned by incurring expenditures of $20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold remains the project operator during the initial earn-in period (see news release dated July 6, 2010).
Scientific/Technical Info, Qualified Persons and QA/QC
Information of a scientific or technical nature in this news release has been reproduced from Aurizon's news release, which information was prepared by or under the supervision of Ghislain Fournier P.Eng., Technical Services General Manager of Aurizon and Martin Demers P.Geo, Exploration Manager of Aurizon. The current mineral resource estimate on the Marban deposit was completed by Yann Camus Eng., of SGS Canada Inc. - Geostat, an independent Qualified Person under NI 43-101 guidelines, using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council on December 11, 2005. The effective date of the estimate is November 16, 2011. NioGold does not, at present, know if, how and to what extent any qualified persons at Aurizon have verified the data underlying the scientific and technical information disclosed in Aurizon's news release and reproduced in this news release. NioGold will attempt to verify the data once Aurizon files its technical report in support of its news release.
Additional Information
A sketch is attached showing the plan and longitudinal view of the Marban Gold deposit with the outline of the in-pit and underground resources. All other information previously released on Marban is also available on NioGold's website at www.niogold.com
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, 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, Chairman & CEODale Paruk, Vice-President
New Zone Discovered Hole Returned 19.21 G/T Au Over 5.6 Metres
Full Article: http://bit.ly/TELCJx
Val-d'Or, Quebec -- NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF) ("NioGold") reports that Phase Two exploration on its Marban Block property in Quebec has identified a new high grade gold zone and extended the Marban deposit on strike and at depth. The results from 31 drill holes conclude a very successful program conducted under the $20 million earn-in option to be spent by Aurizon Mines ("Aurizon") on the property. Approximately $9 million remains on the commitment. The Marban Block is located in the Malartic gold camp, Abitibi region of Quebec.
The new gold zone was discovered at about 500 metres north of the Marban deposit and at 350 metres south of the Norlartic deposit. Two holes intersected a mineralized dioritic dike.
The results of the new zone are:
19.40 g/t Au over 1.2 m on section 3600 at a vertical depth of 92 m (MB-12-323)
19.21 g/t Au over 5.6 m on section 3600 at a vertical depth of 215 m (MB-12-324)
This discovery occurred in the 13 exploration holes which were drilled outside the Marban deposit limits. One hole investigating the stratigraphy of the Marban deposit at great depth revealed the continuity of the Marban system down to a depth of 780 vertical metres with hole MB-12-322 (1.77 g/t Au over 6.5 m) which is about 450 metres from the deepest information on that section of the deposit. North of the Marban deposit, a group of 5 holes intersected the Norlartic system thus confirming its eastern extension.
Results from the 18 others holes that were drilled on the Marban deposit are distributed on a strike of 1,025 meters and include the Eastern Down Dip Zone ("EDDZ") and Western High Grade Zone ("WHGZ").
Drilling highlights from the EDDZ include:
3.74g/t Au over 6.4 m on section 4700 at a vertical depth of 245 m (MB-12-317)
4.51 g/t Au over 6.0 m on section 4600 at a vertical depth of 375 m(MB-12-319)
In-fill drill holes on the WHGZ include the following highlights:
19.35 g/t Au over 1.2 m on section 3725 at a vertical depth of 100 m (MB-12-309)
20.70 g/t Au over 0.7 m and 14.65 g/t Au over 1.2 m on section 3675 at a vertical depth of 50 m and 60 m respectively (MB-12-312)
1.31 g/t Au over 19.7 m on section 3700 at a vertical depth of 35 m (MB-12-314)
21.40 g/t Au over 0.9 m on section 3850 at a vertical depth of 30 m (MB-12-327)
"These are extremely encouraging results," said Mike Iverson, NioGold's Chairman and CEO. "We made a new discovery between the Marban and Norlartic deposits. We extended the Eastern Down Dip Zone with wide, high-grade intervals, while in-fill drilling in the Western High Grade Zone continued to deliver high grade values over small widths and lower grade intervals over larger widths. We look forward to the Phase Three program, which NioGold and Aurizon expect to begin in late August or early September."
Summer Shopping Opportunities for Mining Equities Abound: Rick Mills
Take a look at this Gold Report article where they interview Rick Mills as he mentions a number of mining companies including NioGold.
A quote from the article: "It's hard to find value like a NioGold or a Terraco and the upside of an exploration program such as Altier's."
Find the full article here: http://bit.ly/LJFJK4
Marban Western High Grade ZoneReturns 7.28 G/T Au Over 7.2 Metres
(via Thenewswire.ca)
Val-d'Or, Quebec - June 12, 2012 - NioGold Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) ("NioGold") is pleased to report additional results from the Phase Two drilling program conducted under the terms of the earn-in option of Aurizon Mines ("Aurizon") on the Marban Block property, located in the Malartic gold camp, Abitibi region of Quebec. These results are in continuation of the previously very encouraging results of the Phase Two published previously (see news release of March 1st and April 26th).
Results from 22 new drill holes and three (3) extensions of previous holes were obtained on the Marban gold deposit and are included in this release. The drill results are tabled on the following pages.
The new results highlight the presence of wide mineralised intervals, as well as smaller high grade intervals mainly located within the Western High Grade Zone ("WHGZ"), which is located immediately west of the former Marban Mine, from surface down to a depth of 250 metres.
Drilling highlights include:
-The best results from the in-fill drill holes on the WHGZ returned the following:
-5.13 g/t Au over 6.0 m on section 3700 at a vertical depth of 230 m (MB-12-282)
-4.67 g/t Au over 13.0 m on section 3675 at a vertical depth of 140 m (MB-12-284)
-26.10 g/t Au over 1.2 m, 7.28 g/t Au over 7.2 m and 39.50 g/t Au over 1.0 m on section 3650 at a vertical depth of 95 m, 125 m and 130 m respectively (MB-12-297)
-24.60 g/t Au over 1.2 m on section 3575 at a vertical depth of 30 m (MB-12-300)
-45.80 g/t Au over 1.0 m on section 3800 at a vertical depth of 75 m (MB-12-306)
-Shallow high grade intervals were also obtained along the Marban deposit:
-24.20 g/t Au over 0.5 m on section 4350 at a vertical depth of 22 m (MB-12-275)
-39.10 g/t Au over 1.2 m on section 3950 at a vertical depth of 115 m (MB-12-287)
The 25 holes are distributed along a strike of 950 metres along the Marban deposit and they are contributing to improve the quality of the near surface resource.
The Phase Two drilling program started on December 13, 2011 and concluded on May 31st with a total of 34,656 metres distributed in 90 holes and nine (9) extensions of previous holes. An updated mineral resource estimate based on the Phase One drill results, as well as basic technical studies, including metallurgical test work (see news release of April 24th), should be completed by the end of the second quarter, 2012.
Marban deposit drilling
The 2010-2012 drill programs confirmed the geological model interpreted by NioGold and therefore the continuity of the mineralised zones. They were also instrumental in developing the shallow area called the Western High Grade Zone and identification of the Eastern Down Dip Zone which is located below a vertical depth of 250 metres and remains open at depth and laterally.
Aurizon Option
Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010, between NioGold and Aurizon. The initial 50% interest can be earned by incurring expenditures of $20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold remains the project operator during the initial earn-in period (see news release dated July 6, 2010).
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths but are anticipated to approximate true width, except where structural complexities occur, as the holes were drilled near perpendicular to the principal local structural orientation.
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 ALS Chemex in Val-d'Or, Quebec, 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 2 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 drilling program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the NioGold Vice president of exploration and a Qualified Person as defined by National Instrument 43-101. The news released was prepared by Mr. Ducharme.
Drill results - Marban Deposit
----------------------------------------------------------------------------------
|Hole |Easting|Northing|Azimuth|Dip |Hole |From |To |Length|Grade|Zones|
| | | | | |Length| | | | | |
| | | | | | | | | | | |
| | | (m) | | | | | |(m) | | |
| | (m) | | | | (m) | | | | | |
| | | | | | | | | | | |
| | | | | | | |(m) | | (g/t| |
| | | | | | | | | |Au) | |
| | | | | | |(m) | | | | |
| |
|--------------------------------------------------------------------------------|
|MB-12-274 |4500 |3941 |N180° |-59°|480.0 |57.6 |67.2 |9.6 |0.99 |2 |
|--------------------------------------------------------------------------------|
| | | | | | |211.2|211.7|0.5 |11.10|J |
|--------------------------------------------------------------------------------|
| | | | | | |285.2|290.0|4.8 |4.34 |M |
|--------------------------------------------------------------------------------|
| | | | | | |422.3|424.6|2.3 |4.74 | |
|--------------------------------------------------------------------------------|
|MB-12-275 |4350 |3840 |N180° |-48°|345.0 |29.7 |30.2 |0.5 |24.20|2 |
|--------------------------------------------------------------------------------|
| | | | | | |48.3 |59.3 |11.0 |0.81 |E |
|--------------------------------------------------------------------------------|
|MB-12-278 |4100 |4220 |N180° |-56°|512.0 |35.1 |41.5 |6.4 |0.87 | |
|--------------------------------------------------------------------------------|
| | | | | | |331.1|335.6|4.5 |4.34 |B |
|--------------------------------------------------------------------------------|
| | | | | | |353.0|362.4|9.4 |1.50 |C2 |
|--------------------------------------------------------------------------------|
|MB-12-279 |3950 |4030 |N180° |-45°|314.0 |249.1|257.0|7.9 |0.56 |T |
|--------------------------------------------------------------------------------|
|MB-12-281 |3725 |4320 |N180° |-47°|461.0 |376.2|380.8|4.6 |3.15 |E |
|--------------------------------------------------------------------------------|
|MB-12-282 |3700 |4230 |N180° |-48°|401.0 |112.8|113.7|0.9 |4.57 | |
|--------------------------------------------------------------------------------|
| | | | | | |301.4|307.4|6.0 |5.13 |E |
|--------------------------------------------------------------------------------|
| | | | | |incl |301.4|302.5|1.1 |16.35|E |
|--------------------------------------------------------------------------------|
| | | | | | |313.2|314.4|1.2 |8.55 |D1 |
|--------------------------------------------------------------------------------|
|MB-12-283 |3725 |4185 |N180° |-47°|380.0 |261.7|267.7|6.0 |3.23 |E |
|--------------------------------------------------------------------------------|
| | | | | | |274.5|280.1|5.6 |3.02 |D1 |
|--------------------------------------------------------------------------------|
|MB-12-284 |3675 |4160 |N180° |-47°|332.0 |148.4|149.6|1.2 |5.26 | |
|--------------------------------------------------------------------------------|
| | | | | | |185.6|198.6|13.0 |4.67 |2 |
|--------------------------------------------------------------------------------|
|MB-12-285 |3750 |4100 |N180° |-46°|312.0 |151.4|152.5|1.1 |12.40|2 |
|--------------------------------------------------------------------------------|
| | | | | | |177.5|178.1|0.6 |12.45|Z |
|--------------------------------------------------------------------------------|
| | | | | | |189.4|190.3|0.9 |4.24 | |
|--------------------------------------------------------------------------------|
| | | | | | |226.5|227.5|1.0 |7.69 |E |
|--------------------------------------------------------------------------------|
| | | | | | |263.2|264.7|1.5 |4.82 |A |
|--------------------------------------------------------------------------------|
|MB-12-287 |3950 |4245 |N180° |-45°|485.0 |162.2|163.4|1.2 |39.10| |
|--------------------------------------------------------------------------------|
| | | | | | |231.4|232.5|1.1 |5.58 |2 |
|--------------------------------------------------------------------------------|
| | | | | | |313.9|314.8|0.9 |11.55|E |
|--------------------------------------------------------------------------------|
| | | | | | |381.0|392.0|11.0 |1.75 |A |
|--------------------------------------------------------------------------------|
| | | | | | |416.1|426.3|10.2 |1.79 |T |
|--------------------------------------------------------------------------------|
|MB-12-289 |3850 |4145 |N180° |-45°|390.0 |221.4|222.3|0.9 |5.51 |Z |
|--------------------------------------------------------------------------------|
|MB-12-290 |3850 |4075 |N180° |-45°|332.0 |163.3|164.5|1.2 |14.90|Z |
|--------------------------------------------------------------------------------|
| | | | | | |168.6|170.5|1.9 |8.32 |Z |
|--------------------------------------------------------------------------------|
|MB-12-294 |3550 |4135 |N180° |-51°|270.0 |58.2 |59.4 |1.2 |3.27 | |
|--------------------------------------------------------------------------------|
|MB-12-297 |3650 |4085 |N180° |-52°|294.0 |117.0|118.2|1.2 |26.10| |
|--------------------------------------------------------------------------------|
| | | | | | |151.6|158.8|7.2 |7.28 |2 |
|--------------------------------------------------------------------------------|
| | | | | | |164.0|165.0|1.0 |39.50|Z |
|--------------------------------------------------------------------------------|
| | | | | | |188.8|192.4|3.6 |5.20 |E |
|--------------------------------------------------------------------------------|
|MB-12-298 |3550 |4070 |N180° |-50°|230.0 |63.0 |64.2 |1.2 |6.77 | |
|--------------------------------------------------------------------------------|
|MB-12-300 |3575 |4000 |N180° |-51°|284.0 |34.2 |35.4 |1.2 |24.60|2 |
|--------------------------------------------------------------------------------|
|MB-12-301 |3625 |4000 |N180° |-51°|240.0 |135.0|136.9|1.9 |2.57 |E |
|--------------------------------------------------------------------------------|
|MB-12-302 |3650 |4025 |N180° |-51°|246.0 |153.2|157.5|4.3 |1.19 |E |
|--------------------------------------------------------------------------------|
|MB-12-303 |3650 |3965 |N180° |-50°|207.0 |120.9|122.0|1.1 |6.10 |E |
|--------------------------------------------------------------------------------|
|MB-12-304 |3600 |3895 |N180° |-51°|201.0 |53.8 |65.4 |11.6 |1.25 |E |
|--------------------------------------------------------------------------------|
|MB-12-305 |3675 |4020 |N180° |-47°|252.0 |94.4 |95.6 |1.2 |5.58 |2 |
|--------------------------------------------------------------------------------|
| | | | | | |160.2|162.6|2.4 |5.43 |E |
|--------------------------------------------------------------------------------|
|MB-12-306 |3800 |4035 |N180° |-49°|273.0 |98.7 |99.7 |1.0 |45.80| |
|--------------------------------------------------------------------------------|
|MB-07-016ext|4550 |3844 |N180° |-60°|210.0 |222.0|223.2|1.2 |1.90 | |
|--------------------------------------------------------------------------------|
|MB-08-055ext|4250 |4210 |N180° |-63°|390.0 |437.2|447.9|10.7 |2.04 |C1 |
| | | | | |to | | | | | |
|--------------------------------------------------------------------------------|
| | | | | |571.0 |460.0|461.2|1.2 |6.34 |A |
|--------------------------------------------------------------------------------|
|MB-08-069ext|4050 |4050 |N180° |-63°|224.0 |237.3|245.4|8.1 |1.66 |B |
| | | | | |to | | | | | |
|--------------------------------------------------------------------------------|
| | | | | |371.0 |293.6|294.2|0.6 |6.14 |A |
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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 has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
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, Chairman & CEODale Paruk, Vice-President
miverson@niogold.com dparuk@niogold.com
Everything you need to know about Niogold is found here
http://aheadoftheherd.com/Newsletter/2012/NioGold-Mining.htm
NioGold Consolidates 100% Interest in Republic Goldfields Malartic Property
May 3, 2012
Langley, BC -- May 3, 2012 -- NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF) (“NioGold” or the “Company”) is pleased to announce that it has consolidated 100% ownership of the Republic Goldfields Malartic Property (the "Property"). NioGold originally acquired an 85% interest in the Property from Republic Goldfields Inc. ("RGF") – see NioGold's news release dated April 12, 2012. Under the terms of the resulting joint venture, NioGold has now acquired the final 15% interest through payment of $25,000 and grant to RGF of a 2% NSR royalty (of which one-half, or a 1% NSR interest, can be repurchased by NioGold for $750,000).
The Property consists of six mining claims and one mining concession covering 126.53 hectares, located approximately 20km west of Val-d'Or, Quebec. The Property is contiguous to the Company’s Malartic Block and Marban Block properties, and completes the consolidation of the historic Malartic Hygrade property, part of the Company’s large Malartic gold camp land holdings. The Malartic Hygrade property covers the northwest extent of geological units and deformation corridors that host the gold deposits on the adjoining Marban Block property currently being evaluated by NioGold and Aurizon Mines Ltd. The historic Malartic Hygrade property encompasses the former Malartic Hygrade mine (production: 23,223 t @ 22.67 g/t Au for 17,000 ounces gold, Trudeau and Raymond, 1982) and the Orion Zone #8 (production: 118,922 t @ 5.82 g/t Au for 22,000 ounces gold, Trudeau and Raymond, 1982) as well as the depth extent of the former Camflo mine, where Barrick Gold Corporation produced 1.7 million ounces of gold (8.86 Mt @ 5.8 g/t Au) between 1965 and 1992. Of those ounces, 180,000 were extracted from the Malartic Hygrade property in the lower levels of the mine. Historic records of the Camflo mine indicate that a mineral inventory of 68,000 ounces of gold remains un-mined (LaBreque and Violette, 2011). This mineral inventory is considered historical in nature; has not been validated by the Company’s Qualified Person or an independent Qualified Person; is not compliant with National Instrument 43-101 and should not be relied upon.
Numerous identified gold occurrences on the property remain to be evaluated.
Yan Ducharme, M.Sc., P.Geo. (OGQ), the Company’s Exploration Manager and a Qualified Person as defined by National Instrument 43-101, has reviewed the content of this news release.
Yes, things are looking better and better. Patience will definitely pay off here iMO.
Spoke with management and they said results look good. Aurizon is good with agreement. Im freeing up other assets and buying in @.35 anytime I can get it
New Results At Marban Highlight Potential To Define High Grade Ore Shoots
Val-d’Or, Quebec - April 26, 2012 - NioGold Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) (“NioGold”) is pleased to release new drilling results of the Phase Two program conducted under the terms of the Aurizon Mines Ltd. (“Aurizon”) earn-in option on the Marban Block property, located in the Malartic gold camp, Abitibi region of Quebec.
Results from 22 new drill holes and six (6) extensions of previous holes completed on the Marban gold deposit are included in this release. Drill results are tabled on the following pages.
The new results highlight the potential to define high grade shoots within the Marban deposit, which include:
Hole MB-07-024ext, drilled on section 4300E, was extended to investigate the Eastern Down Dip Zone and returned two high grade intercepts that are included within lower grade intervals:
8.1 g/t Au over 0.9 m at a vertical depth of 395 metres
196.5 g/t Au over 1.2 m at a vertical depth of 415 metres
Shallow in-fill drilling between sections 4300E and 4400E returned the following high grade intersections:
20.5 g/t Au over 2.0 m at a vertical depth of 180 metres (MB-11-248)
36.7 g/t Au over 1.1 m at a vertical depth of 155 metres (MB-07-019ext)
29.8 g/t Au over 1.0 m at a vertical depth of 65 metres (MB-12-252)
Hole MB-12-295 drilled on section 3575E and part of the in-fill drilling on the near surface Western High Grade Zone intersected:
51.4 g/t Au over 1.1 m at 95 metres at vertical depth
The new results are showing very good intercepts over a strike of 1,050 metres on the deposit (from section 3550 to 4600) and from surface to a vertical depth of 500 metres. The deposit is developed inside the Marbenite shear zone which is about 200 to 500 metres wide and is affected by kilometric folds. The deposit itself is multi-folded and the flanks and hinges are forming numerous zones sometimes merging together and giving a thickness that range from 5 to 80 metres. Mineralisation is characterized by chlorite – carbonate – albite alteration associated with a variable amount of quartz veining and iron sulphides.
The Phase Two program will include 34,000 metres of diamond drilling, an updated mineral resource estimate and basic technical studies, including metallurgical testwork. Drilling commenced on December 13, 2011, and four drill rigs are currently in operation. Two are testing the extension at depth of the Marban deposit, one is following up on the fences drilled during Phase 1 between the Norlartic and Marban deposits, and the fourth drill is investigating select exploration targets outlined on the Marban Block property. To date, 75 holes and nine (9) extensions of previous holes have been completed for a total of 26,380 metres. The Phase Two program and updated resource estimate are expected to be completed by the end of the second quarter of 2012.
Marban deposit drilling
The 2011 Phase One drill program demonstrated the continuity of the mineralisation between surface and a vertical depth of 250 metres, as well as the grade consistency, and led to the discovery of the Western High Grade Zone. This Phase One also identified the Eastern Down Dip Extension Zone which is located below a vertical depth of 250 metres and remains open at depth and laterally.
The objectives of the Phase Two drilling program:
Improve the quality of the Marban near surface resources:
The objective is to improve the quality of the known resources and to increase the potential to find more mineralised corridors within a pit shell to help decrease the stripping ratio, and will include drilling the Western High Grade Zone.
Develop a mineral inventory below a vertical depth of 250 metres:
This objective targets the identification of new gold resources inside the Marban structural zone. Preliminary interpolation on the Eastern Down Dip Zone indicates a strong potential to identify gold resources between a vertical depth of 350 and 600 metres. The mineralised structure is considered open laterally and downdip.
New holes and the extension of previous holes are planned at vertical depths of -300 metres to -1,000 metres to test the consistency and extension of the Eastern Down Dip Zone at an average drill hole spacing of 50 metres.
Aurizon Option
Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010, between NioGold and Aurizon. The initial 50% interest can be earned by incurring expenditures of $20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold remains the project operator during the initial earn-in period.
The Phase One program commenced on August 30, 2010, and was completed on August 9, 2011. The program consisted of 50,253 metres of diamond drilling (170 holes, 8 extensions) at a total cost of $6 million. Drilling was distributed between the Marban (41,270m) and Norlartic (4,319m) deposits and exploration drill hole fences between the two deposits (4,664m). Highlights include the identification of two new gold zones surrounding the former Marban mine named the High Grade Western Zone and Eastern Down Dip Zone.
Drill results – Marban deposit
Click here to view the drill results and full news release.
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths but are anticipated to approximate true width, except where structural complexities occur, as the holes were drilled near perpendicular to the principal local structural orientation.
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 ALS Chemex in Val-d’Or, Quebec, 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 2 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 drilling program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the NioGold’s Exploration Manager and a Qualified Person as defined by National Instrument 43-101. The news released 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 has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
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, Chairman & CEO
miverson@niogold.com
Tel: (604) 856-9887
Toll-free: (877) 642-6200
Dale Paruk, Vice-President
dparuk@niogold.com
Tel: (604) 662-4505
NioGold’s Marban Property Recovers 95.4 - 97.6% Gold in Metallurgical Testwork
http://www.marketwire.com/press-release/niogolds-marban-property-recovers-954-976-gold-in-metallurgical-testwork-tsx-venture-nox-1647715.htm
NioGold Purchases Republic Goldfields Property
Langley, BC – April 12, 2012 - NioGold Mining Corporation (TSX-V:NOX) (OTCQX: NOXGF) (“NioGold” or the “Company”) is pleased to announce that it has entered into a Property Acquisition and Joint Venture Agreement (the "Agreement") dated April 11, 2012, with Republic Goldfields Inc. ("RGF") to acquire an 85% interest in RGF's Malartic property (the "Property"). The Property consists of six mining claims and one mining concession covering 126.53 hectares, located approximately 20km west of Val-d'Or, Quebec. The Property is contiguous to the Company’s Malartic Block and Marban Block properties.
The purchase price for the acquisition is $100,000 cash and 1,000,000 common shares. Upon delivery of the purchase price, the Agreement provides for the formation of a joint venture for the further exploration and development of the Property, with Niogold and RGF having an 85% and 15% initial participating interest, respectively. In the event that a party's participating interest is diluted to 10% or less, its participating interest will be converted to a 2% NSR royalty, of which one-half (1% NSR interest) can be repurchased by the other party for $750,000. Subject to certain conditions, NioGold also has the option to purchase all or any part of RGF's participating interest in excess of 10% at a price equal to $5,000 per 1% participating interest. The Agreement remains subject to the approval of the TSX Venture Exchange. The securities issued will be subject to a 4 months hold period.
The acquisition of RGF’s Malartic mining titles completes the consolidation of the historic Malartic Hygrade property, part of the Company’s large Malartic gold camp land holdings. The Malartic Hygrade property covers the northwest extent of geological units and deformation corridors that host the gold deposits on the adjoining Marban Block property currently being evaluated by NioGold and Aurizon Mines Ltd. The historic Malartic Hygrade property encompasses the former Malartic Hygrade mine (production: 23,223 t @ 22.67 g/t Au for 17,000 ounces gold, Trudeau and Raymond, 1982 ) and the Orion Zone #8 (production: 118,922 t @ 5.82 g/t Au for 22,000 ounces gold, Trudeau and Raymond, 1982) as well as the depth extent of the former Camflo mine, where Barrick Gold Corporation produced 1.7 million ounces of gold (8.86 Mt @ 5.8 g/t Au) between 1965 and 1992. Of those ounces, 180,000 were extracted from the Malartic Hygrade property in the lower levels of the mine. Historic records of the Camflo mine indicate that a mineral inventory of 68,000 ounces of gold remains un-mined (LaBreque and Violette, 2011). This mineral inventory is considered historical in nature; has not been validated by the Company’s Qualified Person or an independent Qualified Person; is not compliant with National Instrument 43-101 and should not be relied upon.
Numerous identified gold occurrences on the property remain to be evaluated.
Yan Ducharme, M.Sc., P.Geo. (OGQ), the Company’s Exploration Manager and a Qualified Person as defined by National Instrument 43-101, has reviewed the content of this news release.
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 126km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
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.
NioGold provides exploration update in the Malartic gold camp
February 8, 2012
Val-d’Or, Quebec - NioGold Mining Corporation (TSX-V:NOX) (“NioGold” or the “Company”) is pleased to provide updates on exploration programs conducted on the Company’s flagship projects located in the Malartic gold camp, Abitibi region of Quebec.
$5-million second phase program is in progress on the Marban Block property under the terms of the Aurizon Mines Ltd. earn-in agreement;
34,000 metres of drilling and updated resource estimates are planned to be completed by the end of the second quarter 2012;
Twenty-six (26) holes and 5 extensions of previous holes, for a total of 9,500 metres, have been completed to date. Initial results are expected within four weeks;
Fifty-seven (57) exploration holes, for a total of 17,600 metres, were drilled in 2011 on the adjoining Malartic Block property;
Results are pending for holes completed in the northern half of the property;
Drilling operation will resume in the next few days to follow-up on the Ludovick gold zone discovered in the southern portion of the property.
Marban Block
A $5-million second phase program is in progress on the Marban Block property under the terms of the Aurizon Mines Ltd. (“Aurizon”) earn-in agreement (see news release dated November 1, 2011). The program includes 34,000 metres of diamond drilling, mainly on the Marban deposit, updated resource estimates and basic technical studies, including metallurgical tests.
Drilling operation commenced on December 13 and four drill rigs are currently in operation to expand the Marban deposit gold resources. Twenty-six (26) holes and 5 extensions of previous holes, for a total of 9,500 metres, have been drilled to date. Initial results are expected within four weeks. The second phase program and updated resource estimates are expected to be completed by the end of the second quarter of 2012.
The first phase program was completed in August, 2011, and consisted of 50,253 metres of diamond drilling (170 holes, 8 extensions) at a total cost of $6 million. Highlights include the identification of two new gold zones surrounding the former Marban mine named the ‘High Grade Western Zone’ and ‘Eastern Down Dip Zone’ (see news release dated September 19, 2011).
Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010 between NioGold and Aurizon. The initial 50% interest can be earned by incurring expenditures of $20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold remains the project operator during the initial earn-in period.
Malartic Block
The 2011 exploration drilling program on the Company’s large Malartic Block property commenced on April 2 and was completed on December 22. Fifty (57) holes were drilled for a total of 17,600 metres.
Twenty-four (24) holes were completed within the southern portion of the property as a first pass investigation of sedimentary sequences of the Kewagama and Cadillac Groups and an intervening wedge of the prolific Blake River Group volcanics. The targeted sector lies to the north of the famous Cadillac fault and the Canadian Malartic gold mine (Osisko Mining Corporation) and to the west on the former Camflo gold mine (Barrick Gold, 8.9Mt @ 5.8 g/t Au, 1.7 million ounces gold production). The holes roughly form two continuous NE-SW oriented fences spaced about 2,500 metres apart.
Highlights for the first 24 holes were given in a news release dated November 22, 2011, that included the discovery of a wide mineralised shear, named the Ludovick zone, which returned gold mineralised intervals at shallow depths of 3.15 g/t Au over 6.5 metres, including 12.65 g/t Au over 0.9 metre, in hole CW-11-016 and 5.10 g/t Au over 5.2 metres, including 8.17 g/t Au over 3.1 metres, in follow up hole CW-11-021. These intersections are located 2.7 kilometres west of the former Camflo mine.
The drilling program shifted to the northern half of the property in late October to explore a four-kilometre stretch of the gold mineralised Norbenite-Marbanite fault system. The sector of interest is located five kilometres on strike to the northwest of the Marban and Norlartic deposits located on the Marban Block property.
The objective of this second phase of the program was a systematic first pass investigation of the sector with 500-metre spaced NNE-SSW drill hole fences, oriented perpendicular to the local general trend of the stratigraphic units and first-order deformation zones. The program also tested isolated targets identified from the compilation work and the CARDS (computer aided resources detection system) study completed by Diagnos Inc. in March, 2011. Results are pending.
The Company is gearing up to mobilise a drill rig in the next few days to the southern half of the Malartic Block property to follow up on the Ludovick zone and to complete the first pass of widely spaced fence drilling initiated in 2011. The program will consist of about 5,000 metres, including 1,000 metre to follow up laterally and at depth on the Ludovick zone.
The drilling programs are conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the Company’s Exploration Manager and a Qualified Person as defined by National Instrument 43-101. This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company’s President and a Qualified Person as defined by National Instrument 43-101.
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 stretch of the prolific Abitibi gold mining district, Province of Quebec, Canada. The Cadillac, Malartic and Val-d’Or mining camps have produced over 45 million ounces of gold since the 1930’s and presently encompasses seven producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold’s land holdings within the Abitibi presently cover 125 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
NioGold’s experienced and qualified technical team will ensure the successful advancement of the Company’s projects towards the highest quality mineral resources. NioGold invites you to visit the company website at www.niogold.com. For information on NioGold Mining Corporation contact:
Michael A. Iverson, Chairman & CEO
miverson@niogold.com
Tel: (604) 856-9887
New Ludovick Zone in Malartic
Rreturns 8.17 g/t Au over 3.1 metres
November 22, 2011
Val-d’Or, Quebec - November 22, 2011 - NioGold Mining Corporation (TSX-V:NOX) (“NioGold” or the “Company”) is pleased to provide an update on the 2011 exploration drilling program conducted on the Company’s wholly-owned Malartic Block property, located in the Malartic gold camp, Abitibi region of Quebec.
A $2.5-million program began in April and is scheduled to be completed by late December. Three drill rigs are currently in operation. Highlights are given for the first 24 holes (CW-11-016 to 039) drilled within the southern portion of the property:
Two important altered, veined and sulphide mineralised shear zones were discovered in sedimentary rocks;
The property covers a potential four to five-kilometre unexplored strike extent of these newly recognised mineralised structures;
The first mineralised shear, named the Ludovick zone, was initially intersected in hole CW-11-016 a vertical depth of 70 meters (see news release dated May 4, 2011);
The 8.6-metre wide mineralised structure returned gold values averaging 3.15 g/t Au over 6.5 metres including an interval of 12.65 g/t Au over 0.9 metre;
This intersection lies 2.7 kilometres west of the former Camflo mine (Barrick Gold, 8.9Mt @ 5.8 g/t Au, 1.7 million ounces gold production);
Follow-up hole CW-11-021, drilled 100 metres on strike to the west of hole CW-11-016, intersected the Ludovick zone at a vertical depth of 75 metres. The zone returned gold values averaging 5.10 g/t Au over 5.2 metres including 8.17 g/t Au over 3.1 metres;
A second 9.1-metre wide mineralised shear zone was intersected 350 metres to the south of the Ludovick structure in hole CW-11-018 at a vertical depth of 65 metres. Gold values up to 1.55 g/t Au were returned from the structure;
First pass grid drilling of the newly recognised Ludovick zone will be conducted during the winter due to wet ground conditions over the area;
The program has now shifted to the northern half of the property to investigate an unexplored four-kilometre stretch of the gold bearing Norbenite-Marbanite fault zone.
Malartic Block exploration drilling program
Several targets were identified on the extensive Malartic Block land holdings (150 mining claims, 5,400 hectares) with a priority given to investigate under-explored sectors where favourable geological and structural settings were identified from comprehensive compilation work.
The program commenced within the southern portion of the property in order to explore sedimentary sequences of the Kewagama and Cadillac Groups and an intervening wedge of the prolific Blake River Group volcanics. The targets lie to the north of the famous Cadillac fault and the Canadian Malartic gold mine (Osisko Mining Corporation) and to the west on the former Camflo gold mine. To date, 24 drill holes (CW-11-016 to 039) were completed in the sector for a total of 6,228 metres of drilling. The holes tested a combination of magnetic, electro-magnetic and induced polarisation geophysical anomalies and gold in-soil anomalies.
The program has now shifted to the northern half of the property to explore a four-kilometre stretch on the gold mineralised Norbenite-Marbanite fault. The sector of interest is located five kilometres on strike to the northwest of the Marban and Norlartic deposits presently being developed on the Marban Block property by NioGold and partner Aurizon Mines Ltd
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths but are anticipated to be close to true width as the holes were drilled at high angle to the principal local structural orientation.
Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes of the mineralised zones. 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 ALS Chemex in Val-d’Or, Quebec, 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 2 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 drilling program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the Company’s Exploration Manager and a Qualified Person as defined by National Instrument 43-101. This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company’s President and a Qualified Person as defined by National Instrument 43-101.
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 stretch of the prolific Abitibi gold mining district, Province of Quebec, Canada. The Cadillac, Malartic and Val-d’Or mining camps have produced over 45 million ounces of gold since the 1930’s and presently encompasses seven producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold’s land holdings within the Abitibi presently cover 125 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
NioGold’s experienced and qualified technical team will ensure the successful advancement of the Company’s projects towards the highest quality mineral resources. NioGold invites you to visit the company website at www.niogold.com. For information on NioGold Mining Corporation contact:
Michael A. Iverson, Chairman & CEO
miverson@niogold.com
Tel: (604) 856-9887
Toll-free: (877) 642-6200
Dale Paruk, Vice-President
dparuk@niogold.com
Tel: (604) 662-4505
Marban High Grade Western Zone returns 9.8 g/t Au over 5.8 metres
http://www.marketwatch.com/story/niogold-reports-marban-high-grade-western-zone-returns-98-gt-gold-over-58-metres-2011-11-16
Two New High Grade Gold Zones Discovered at Marban
September 19, 2011
Val-d’Or, Quebec - September 19, 2011 - NioGold Mining Corporation (TSX-V:NOX) (“NioGold”) is pleased to report on the latest drilling results at the Marban Block property, located in the Malartic gold camp, Abitibi region of Quebec. The drilling program is conducted under the terms of the Aurizon Mines Ltd. (“Aurizon”) earn-in option agreement.
Results from ten (10) drill holes at the Marban deposit reported on September 13 and twenty (20) new holes included in this release have resulted in the identification of two new gold zones surrounding the former Marban mine.
The best results from the new ‘High Grade Western Zone’ include 5.9 grams of gold per tonne (g/t Au) over 15.7 metres (MB-11-195) and 906.2 g/t Au over 2.9 metres (MB-11-198).
The second discovery, the ‘Eastern Down Dip Zone’, includes intersections at depth of 7.0 g/t Au over 10.9 metres (MB-08-053ext), 179.5 g/t Au over 1.2 metre (MB-11-228), and 6.1 g/t Au over 12.6 metres (MB-11-242).
The recognition of distinct zones of higher grade gold distribution and indication of steeper plunges previously unknown is significant and adds new exploration potential at depth at Marban.
Drill results from the twenty (20) new holes are tabled on the following pages. Also refer to results released on September 13, 2011, and attached Marban longitudinal section.
New Impressive Results at Marban Confirm Potential
http://www.prnewswire.com/news-releases/new-impressive-results-at-marban-confirm-depth-potential-129716693.html
NIOGOLD DISCOVERS TWO IMPORTANT MINERALISED
STRUCTURES IN THE MALARTIC CAMP
May 4, 2011
Val-d?Or, Quebec - May 4, 2011 - NioGold Mining Corporation (TSX-V:NOX) (?NioGold? or the ?Company?) is pleased to report on the on-going exploration drilling program within the southern portion of Company?s wholly-owned Malartic Block property, located in the Malartic gold camp, Abitibi region of Quebec.
The first three holes of the program intersected two important altered, veined and sulphide mineralised shear zones cutting sedimentary rocks:
The first mineralised shear zone was intersected in hole CW-11-016 from 99.0 to 107.60 metres (8.6 metres) down hole at a vertical depth of 70 meters;
The mineralised structure returned gold values averaging 3.15 g/t Au over 6.5 metres including an interval of 12.65 g/t Au over 0.9 metre;
The down dip extent of this zone was cut in hole CW-11-017 from 273.3 to 282.4 metres down hole (9.1 metres) at a vertical depth of 193 meters. Results are pending;
A second mineralised shear zone was intersected 350 metres to the south in hole CW-11-018 from 94.0 to 103.1 metres (9.1 metres) down hole at a vertical depth of 66 metres. Results are pending.
The Malartic Block property covers a potential 4- to 5-kilometre unexplored strike extent of these newly revealed mineralised structures based on their interpreted WNW-ESE orientation.
Malartic Block exploration drilling program
The southern portion of the Company?s large Malartic Block property is located 20 kilometres west of the town of Val-d?Or and directly adjacent to Osisko Mining Corp.?s (?Osisko?) Canadian Malartic mine development project.
An initial 6,000-metre exploration drilling program is in progress to investigate sedimentary formations on the north side of the famous Cadillac fault in proximity to the Canadian Malartic and Barnat deposits and Jeffrey Zone being developed by Osisko. Despite the obvious potential within the southern portion of the Malartic Block property, no sustained exploration programs have been conducted over the area in the past, in part due to the lack of rock exposure. NioGold ranks this sector as a high priority target for a new discovery. The drilling is investigating a combination of magnetic, electro-magnetic and induced polarisation geophysical anomalies and gold in-soil anomalies.
Marban Block drilling program
The initial program under the terms of the Aurizon Mines Ltd. option agreement on the adjoining Marban Block property is progressing as scheduled. Three drill rigs are currently in operation on the project and 35,000 of resource development drilling has been completed to date. Additional results will be released in the upcoming weeks.
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths but are anticipated to be close to true width as the holes were drilled at high angle to the principal local structural orientation.
Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes of the mineralised zones. 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 ALS Chemex in Val-d?Or, Quebec, 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 2 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 drilling program was conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), a Qualified Person as defined by National Instrument 43-101. This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company?s President and a Qualified Person as defined by National Instrument 43-101.
A nice read on NioGold by Rick Mills
http://aheadoftheherd.com/Newsletter/2011/NiogoldMar13.htm
Yes. Thanks.
Looks like Geomega came out WAY ahead on that deal...
Hard to believe it...
These guys better have a whole lot of gold in the holes they're digging... having just given away the HUGE REE FIND made on the properties they've optioned off.
Are you asking about total shares outstanding? If so, 72,889,094
Hard to believe they're basically giving away their most valuable property for a few peanuts... like they couldn't have drilled those couple of holes Geomega did themselves ?
Geomega popped from $1 to over $5 on the news... and NOXGF with a wasting 25% interest is just waffling...
Yours explains why...
Know what the outstanding is here ?
NIOGOLD COMMENCES EXPLORATION DRILLING IN NEW SECTOR AT MALARTIC
Mar. 3, 2011 (TheNewswire.ca) --
version française à http://niogold.com/category/news-french
Val-d'Or, Quebec - March 3, 2011 - NioGold Mining Corporation (TSXV:NOX) (TSX-V:NOX)("NioGold" or the "Company") has begun site preparation for the mobilisation of a drill rig to the southern portion of the Company's large Malartic Block property, located 20 kilometres west of Val-d'Or and directly adjacent to Osisko Mining Corp.'s (TSX:OSK) (OOTC:OSKFF) ("Osisko") Canadian Malartic mine development project.
NioGold plans an initial 6,000 metres of exploration drilling to investigate sedimentary formations on the north side of the famous Cadillac fault in proximity to the Canadian Malartic and Barnat deposits and Jeffrey Zone being developed by Osisko. The Canadian Malartic project presently boasts open pit reserves of 245.8 million tonnes at an average grade of 1.13 g/t Au for 8.97 million contained gold ounces. Canadian Malartic is now recognised as a porphyry-type gold system hosted within diorite porphyry intrusions and altered sediments on the south side of the Cadillac fault.
Despite the obvious potential within the southern portion of the Malartic Block property, no sustained exploration programs have been conducted over the area in the past, in part due to the lack of rock exposure. NioGold ranks this sector as a high priority target for a new discovery. The drilling will test a combination of magnetic, electro-magnetic and induced polarisation geophysical anomalies and gold in-soil anomalies.
This news release was reviewed by Rock Lefrançois, P.Geo. (OGQ), the Company's President and a Qualified Person as defined by National Instrument 43-101.
The above information regarding the Canadian Malartic Project was obtained from technical reports available on the Osisko website, and should be read in reference to the full reports, including all cautionary statements and disclaimers therein. NioGold has not independently verified and does not accept responsibility for the adequacy or accuracy of the information contained in the report.
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 stretch of the prolific Abitibi gold mining district, Province of Quebec, Canada. The Cadillac, Malartic and Val-d'Or mining camps have produced over 45 million ounces of gold since the 1930's and presently encompasses seven producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold's land holdings within the Abitibi presently cover 125 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
NioGold's experienced and qualified technical team will ensure the successful advancement of the Company's projects towards the highest quality mineral resources. NioGold invites you to visit the company website at www.niogold.com. For information on NioGold Mining Corporation contact:
Michael A. Iverson, Chairman & 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.
NioGold Mining Corporation (“NioGold”) is pleased to inform our investors on the results of the phase I diamond drilling program undertaken by Geomega Resources Inc. (TSX-V:GMA) (“Geomega”) on the Company’s Montviel rare earth element (REE) project. The Montviel property, located 200 kilometres north of the town of Val-d'Or in the Abitibi region of Quebec, is underlain by Montviel carbonatite complex, one of North America's largest known carbonatites.
The program is now well under way with five (5) drill holes completed, for 2,800 metres. Last week, Geomega released the results for the first hole, MVL-10-01, that started and ended in mineralised carbonatite returning 1.24% total rare earth oxides (TREO) over its entire 480 metres, from 21.0 to 501.0 metres down hole, including a higher-grade section of 2.03% TREO over 39.4 metres, from 266.6 to 306.0 metres.
The impressive intersection in hole MVL-10-01 was followed yesterday by the release of results for hole MVL-10-03, collared 300 metres west and on strike of hole MVL-10-01, which returned 1.38% TREO over the entire 512.7 metres, from 21.3 to 534.0 metres down hole, including 2.28% TREO over 51.8 metres, from 132.0 to 183.8 metres. True thickness is estimated to be 80% of core length. For Geomega latest drill results click on the following link
http://www.newswire.ca/en/releases/archive/February2011/14/c2388.html.
The results of holes MVL-10-01 and MVL-10-03 highlight the potential to define a large, near-surface REE deposit, with possible significant niobium and phosphate by-products.
Geomega Option
Geomega can earn an initial 50% interest in the Montviel and Pump Lake properties by expending C$500,000 and issuing 1,300,000 common shares in Year 1 and expending C$850,000 in Year 2. After earning the initial 50% interest, Geomega has the option to increase its interest in the Properties to 75% by expending an additional C$1,000,000 and issuing 200,000 common shares in Year 3 and expending C$1,000,000 in Year 4. Following the completion of the earn-in process, Geomega and NioGold will form a joint venture according to their proportionate interests in the Properties. Geomega will remain operator of the joint venture as long as its interest is greater or equal to 50%.
On or before the 7th anniversary of the agreement, Geomega can purchase the remaining 25% interest in the Properties by paying C$13,500,000 to NioGold in cash or common shares of Geomega. The remaining interest in the Montviel and Pump Lake properties can be purchased separately for C$9,000,000 and C$7,500,000 respectively. NioGold retains a 2% royalty on production, half of which can be purchased for C$1,000,000.
Malartic gold camp drilling
Three drill rigs are in operation on the Marban Block property to complete the first year 50,000-metre drilling program under the Aurizon Mines Ltd. option. Two drill rigs are busy on the Marban gold deposit and the third rig has commenced shallow drilling on the west portion of the Norlartic gold deposit. The first year program is mainly directed at better defining and increasing the near surface mineral resources at the Marban and Norlartic deposits.
The Company has budgeted for a minimum of 20,000 metres of exploration drilling for 2011 outside the Marban Block. The program will commence shortly, immediately following final approval of permits from Quebec government authorities. Several targets have been identified on the Company’s extensive land holdings with a priority given to investigate under-explored sectors where favourable geological and structural settings were identified from comprehensive compilation work. An initial 4,000 metres of drilling is planned to investigate sedimentary formations immediately to the north of the famous Cadillac fault and the Canadian Malartic, Barnat and Jeffrey Zone gold deposits being developed by Osisko Mining Corporation.
For information contact:
Michael A. Iverson, Chairman & CEO Rock Lefrançois, President & COO
miverson@niogold.com rocklefrancois@niogold.com
Tel: (604) 856-9887 Tel: (819) 825-7400
For further information please contact:
Dale Paruk
NioGold Mining
Tel: 604-662-4505
Toll-free 1-877-642-6200
Email: dparuk@niogold.com
Buy and hold. Good things coming.
What about this stock, sir?
Any updates/news?
David Hall, CEO of Aurizon Mines interviewed on BNN at The Association for Mineral Exploration BC (Roundup) in Vancouver
January 28, 2011
Please find below a link to a BNN interview with David Hall, CEO of Aurizon Mines. The interview is seven minutes long and the focus is on NioGold’s Marban block which is part of NioGold’s 120 sq km Malartic project near Val d’Or Quebec.
http://watch.bnn.ca/#clip407827
The NioGold/Aurizon agreement is summarized below:
As of January 2010 indicated resources for the Marban block property, located in the Malartic gold camp in the Abitibi region, Quebec totaled 598,000 ounces, while inferred resources totaled 361,000 ounces. The gold resources are defined along a three-kilometre segment of the Norbenite-Marbanite fault zone, in and around the former Marban, Norlartic and Kierens gold mines, which collectively produced 600,000 ounces of gold.
Aurizon Mines Ltd. has signed an option and joint venture agreement with Niogold Mining Corp. on the Marban block property, pursuant to which:
Aurizon can earn a 50-per-cent interest in the Marban block, subject to underlying royalties, by:
Incurring expenditures of $20-million over three years, of which $5-million is a firm commitment to be spent in the first year;
Completing an updated NI 43-101-compliant mineral resource estimate;
Making a resource payment equal to the sum of $30 (or $40 if the price of gold is then above $1,560 (U.S.)) multiplied by 50 per cent of the number of total gold ounces in the measured and indicated resource categories plus $20 (or $30 if the price of gold is then above $1,560 (U.S.)) multiplied by 50 per cent of the number of total gold ounces in the inferred resource category, based on the updated resource estimate.
Aurizon can earn an additional 10-per-cent interest, for a total 60-per-cent interest, by delivering a feasibility study.
Aurizon can earn an additional 5 per cent, for a toal 65-per-cent interest, by arranging project financing for capital expenditures estimated by the feasibility study to place the project into commercial production.
NioGold will be operator during the initial earn-in period, and Aurizon will provide input on exploration programs and will become operator after the initial 50-per-cent interest has been earned.
Niogold and Aurizon Report 9.06 G/T Au over 7.3 M
http://niogold.com/2011/01/21/niogold-and-aurizon-report-9-06-gt-au-over-7-3-metres-at-marban/
NIOGOLD TO INTENSIFY DRILLING IN MALARTIC WITH TWO MORE DRILLS
January 13, 2011
Val-d’Or, Quebec - January 13, 2011 - NioGold Mining Corporation (TSX-V:NOX) (“NioGold” or the “Company”) is stepping up its exploration activity in the Malartic gold camp, Abitibi region of Quebec. The Company plans to drill in excess of 55,000 metres on its land holdings during 2011. Two drill rigs are currently in operation and two more will be added by the end January.
Marban Block property
Two drill rigs are in operation at the Marban gold deposit since late August under the terms of the Aurizon Mines Ltd. (“Aurizon”) option agreement. To date, 47 holes and two (2) extensions of previous holes were completed for a total of 13,000 metres. Results for 15 holes were reported and more results are expected to be released shortly. The initial phase of the program is confirming the geological and structural model and the continuity to the gold mineralised zones at Marban.
A third drill rig will be added by month’s end to complete 5,000 metres of shallow definition drilling on the Norlartic gold deposit, more specifically within upper 200 metres from surface.
Aurizon can earn up to a 65% interest in the Marban Block property under the terms of an option and joint venture agreement signed last July (see news release dated July 6, 2010). The initial 50% interest can be earned by incurring expenditures of C$20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold is the project operator during the initial earn-in period.
The first year program of Aurizon’s earn-in includes 50,000 metres of diamond drilling mainly directed at better defining and increasing the near surface mineral resources at the Marban and Norlartic gold deposits.
Malartic camp exploration
Following the closing of a C$7.5 million financing in December (see news release dated December 23, 2010), the Company has budgeted for a minimum of 20,000 metres of exploration drilling for 2011.
Several targets have been identified on the Company’s extensive Malartic camp land holdings with a priority given to investigate under-explored sectors where favourable geological and structural settings were identified from comprehensive compilation work.
The 2011 campaign is scheduled to start in late January with an initial 4,000 metres of drilling planned to investigate sedimentary formations in the southern portion of the Malartic Block claims. The targets lie immediately to the north of the famous Cadillac fault and the Canadian Malartic, Barnat and Jeffrey Zone gold deposits being developed by Osisko Mining Corporation.
“The Company is very pleased with the initial drilling results on the Marban Block under the partnership with Aurizon and there will be a lot more developments to come in 2011. The successful closing of a $7.5 million financing in December will allow the Company to be aggressive on pure exploration drilling in 2011 and probe areas in the heart of the mining camp that have been overlooked in the past” commented Rock Lefrançois, NioGold President & COO.
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 stretch of the prolific Abitibi gold mining district, Province of Quebec, Canada. The Cadillac, Malartic and Val-d’Or mining camps have produced over 45 million ounces of gold since the 1930’s and presently encompasses seven producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold’s land holdings within the Abitibi presently cover 125 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
NioGold’s experienced and qualified technical team will ensure the successful advancement of the Company’s projects towards the highest quality mineral resources. NioGold invites you to visit the company website at www.niogold.com. For information on NioGold Mining Corporation contact:
Michael A. Iverson, Chairman & CEO Dale Paruk, Vice-President
miverson@niogold.com dparuk@niogold.com
Tel: (604) 856-9887 Tel: (604) 662-4505
A lot of insider buying going on. . . .
Niogold Mining Corp. (NOX)
As of January 5th, 2011
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Jan 05/11 Dec 23/10 Ridgway, Simon T.P. Direct Ownership Common Shares 16 - Acquisition under a prospectus exemption 131,579 $0.380
Jan 03/11 Dec 23/10 Richards, Jonathan Direct Ownership Common Shares 11 - Acquisition carried out privately 13,158 $0.380
Dec 27/10 Dec 23/10 Inwentash, Sheldon Control or Direction Warrants 11 - Acquisition carried out privately 750,000
Dec 27/10 Dec 23/10 Inwentash, Sheldon Control or Direction Common Shares 11 - Acquisition carried out privately 1,500,000 $0.320
NioGold Completes $7.5 Million Offering
December 23, 2010
Vancouver, BC – NioGold Mining Corporation (TSX-V: NOX). Further to its news releases of November 15 and December 16, 2010, NioGold is pleased to announce that it has closed its brokered private placement, led by Northern Securities Inc., for gross proceeds of $7,040,660 and a non-brokered President's List private placement for gross proceeds of $454,740. Due to demand, the offering was increased by $1 million over the originally planned $6.5 million.
NioGold issued a total of 6,566,843 Flow Through Common Shares at a price of $0.38 per share for gross proceeds of $2,495,400, and 15,625,000 Units at a price of $0.32 for gross proceeds of $5,000,000. Each Unit was comprised of one common share and one-half of a warrant, each whole warrant entitling the holder to purchase a further common share at a price of $0.48 for a period of two years.
The Company paid a cash commission of $455,346 and issued 1,469,661 Agent's Options to Northern and its selling group. The Company also paid $5,229 and issued 13,760 Agent's Options in payment of finder's fees on President's List subscriptions. Each Agent's Option is exercisable to acquire a Unit at a price of $0.32 per Unit. 1,370,821 of the Agent's Options have a term of 14 months and may not be exercised in the first 6 months. The remaining 112,600 Agent's Options have a term of 24 months and no exercise restriction.
All securities issued are subject to a hold period expiring on April 24, 2011. The Company will use the proceeds for property exploration and for general working capital.
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 stretch of the prolific Abitibi gold mining district, Quebec. The Cadillac - Malartic - Val-d’Or area has produced over 45M ounces of gold since the 1930’s and presently encompasses eight producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold’s land holdings within the Abitibi presently cover 115 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
NioGold’s experienced and qualified technical team will ensure the successful advancement of the Company’s projects towards the highest quality mineral resources. NioGold invites you to visit the company website at www.niogold.com.
This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company’s President & COO and Qualified Person as defined by National Instrument 43-101. For information on NioGold Mining Corporation contact:
Michael A. Iverson, Chairman & CEO
miverson@niogold.com
Tel: (604) 856-9887
Toll-free: (877) 642-6200
Dale Paruk, Vice-President
dparuk@niogold.com
Tel: (604) 662-4505
NioGold Increases Offering to $7.5 Million
December 16, 2010
Vancouver, BC – NioGold Mining Corporation (TSX-V: NOX). Further to its news release of November 15, 2010, NioGold is pleased to announce that it has increased the brokered portion of its private placement by $1 million through the offering of an additional 3,125,000 Units. Northern Securities Inc. is acting as lead agent on the brokered portion of the private placement, with a bought deal commitment from Northern Financial Corporation.
The terms of the brokered portion of the offering otherwise remain the same, and will now consist of $5,000,000 in Units and $2,000,000 in Flow-Through shares, at a price of $0.32 per Unit and $0.38 per Flow-Through Share. Each Unit will consist of one Common Share and one-half of a Warrant, with each whole Warrant entitling the holder to acquire one Common Share at an exercise price of $0.48 for a period of two years. The Company will also raise, on a non-brokered basis, up to an additional $500,000 through the issuance of Flow-Through Shares at a price of $0.38 per Flow-Through Share.
The offering remains subject to the approval of the TSX Venture Exchange, Northern's completion of due diligence and other customary closing conditions. All securities issued pursuant to the private placement will be subject to a four-month hold period. The funds raised from the offering will be used to finance exploration and for general working capital purposes.
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 stretch of the prolific Abitibi gold mining district, Quebec. The Cadillac - Malartic - Val-d’Or area has produced over 45M ounces of gold since the 1930’s and presently encompasses eight producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold’s land holdings within the Abitibi presently cover 115 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
NioGold’s experienced and qualified technical team will ensure the successful advancement of the Company’s projects towards the highest quality mineral resources. NioGold invites you to visit the company website at www.niogold.com.
This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company’s President & COO and Qualified Person as defined by National Instrument 43-101. For information on NioGold Mining Corporation contact:
Michael A. Iverson, Chairman & CEO
miverson@niogold.com
Tel: (604) 856-9887
Toll-free: (877) 642-6200
Dale Paruk, Vice-President
dparuk@niogold.com
Tel: (604) 662-4505
Niogold and Aurizon Report 1.21 G/T Au over 80.8 meters.
http://finance.yahoo.com/news/AURIZON-REPORTS-808-METRES-AT-cnw-3276606349.html?x=0&.v=1
Beat the Market New letter
http://us2.campaign-archive.com/?u=6aec09ee2c6c558d6b5867e62&id=4a74cb8277&e=bc2d714173
Midas Research: NioGold Mining Corp. (TSX.V:NOX)
October 28, 2010
NioGold’s $20 Million Joint Venture with Aurizon is a Game Changer
Primary Value Drivers:
50,000 meter drill program now underway on NioGold’s 100% owned Marban project by Aurizon Mines, who is earning a 50% interest in exchange for a CA$20 million investment in drilling plus a cash payment for ½ the gold resources estimated at CA$20+ million ;
Advanced exploration targets on past producing projects in historically prolific Malartic-Val d'Or Mining Camps;
Quebec is the world’s number 1 mining jurisdiction as rated by the Fraser Institute of Canada;
Fully funded CA$20 million deposit delineation and exploration campaign without share dilution;
Partnership with Aurizon will fast-track identification of additional resources and potentially reserves for a future mine.
Aggressive exploration of remaining 90% of property package and continuing land acquisition provide significant upside potential through new discovery.
For a full report on Niogold Mining click below
http://www.midasletter.com/subscribers/MidasLetter_Premium_NOX_101026.pdf
Richard (Rick) Mills
Ahead of the Herd
As a general rule, the most successful man in life is the man who has the best information
NioGold is an extremely compelling gold play, management has a well thought out plan for success and they are operating in the heart of one of the most prolific gold producing areas in the world – 170 million ounces of gold have been pulled out of the Abitibi gold belt.
Read more
insert-text-here
NIOGOLD APPOINTS SIMON RIDGWAY TO ITS BOARD OF DIRECTORS
October 19, 2010
Vancouver, BC - October 19, 2010 - NioGold Mining Corporation (TSX-V: NOX) is pleased to announce that Simon Ridgway has joined the company's Board of Directors.
Mr. Ridgway is an accomplished mine developer with over 30 years experience in the mining industry. During the 1990s, Mr. Ridgway led the discovery and development of two gold deposits in Honduras and Guatemala, both of which were subsequently sold and put into production by Glamis Gold, now Goldcorp.
He is a co-founder of the Gold Group, a stable of mining and exploration companies having a head office in Vancouver, Canada. The companies under his management include a full spectrum from grassroots exploration (Radius Gold Inc.), through advanced-stage definition drilling (Focus Ventures Ltd.) to production and cash flow (Fortuna Silver Mines Inc.). Since 2003, his group has raised over $300-million in the European and North American capital markets. Most recently, Fortuna Silver Mines closed a $35-million bought-deal to finance the development of a new silver mine in Oaxaca, Mexico.
Michael Iverson, chairman and chief executive officer of NioGold, comments: "We are extremely pleased to welcome someone of Mr. Ridgway's caliber and expertise as a Director. Simon will provide NioGold's management with advice in strategic and corporate business development. His expertise and industry contacts will be invaluable as the company advances its flagship Malartic gold project in Quebec and makes the transition from exploration towards production over the coming few years."
NioGold Mining Corp. also announces that it has granted an aggregate of 1,400,000 incentive stock options exercisable at $0.35 for a period of five years to directors, officers and consultants of the company. The options are subject to the approval of the TSX Venture Exchange.
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