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    NOB   CA65506N1015

NOBLE MINERAL EXPLORATION INC.

(NOB)
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Noble Mineral Exploration Inc. to Resume Drilling on the Dargavel-Aubin Township Gold Property Near Cochrane, Ontario, Receives OJEP Grant from the Ontario Government

11/08/2021 | 09:59am EST

Noble Mineral Exploration Inc. announce that due to favourable results from the 2020 drill program in Dargavel Township and a comprehensive compilation of historical work in the region, additional drilling is recommended to further define gold mineralization in the area. Induced Polarization, Magnetic and VLF-EM surveys have been completed in the vicinity of the 2020 drilling to help interpret previously detected mineralized zones and to assist in the locating new drill targets. A 4,000 meter drill program is expected to begin in January 2022 when snow conditions and frozen ground will allow easier movement of the drill rig. The Dargavel Property is owned 100% by Noble subject to a 50/50 Option /JV with a private investor and to a 2% Net Smelter Royalty held by Franco Nevada. Previous drilling by Noble identified gold mineralization over a strike length of 7.5 kilometers, open in both directions. In addition, the true width of the zone has not been determined as evidenced by the fact that drill hole DAR-20-06 ended in mineralization after cutting more than 18 meters of gold mineralized core. Very little work has been done in the past in Dargavel Township due to the heavy overburden cover and the fact that the area was not open for traditional staking due to the predominance of patented claims in the area. Compilation of all data in the area has revealed that the gold mineralization in the area appears to be controlled by faulting and iron formation units in close proximity to a granodiorite intrusive contact. The granodiorite contact zone forms a gold exploration target that is approximately 30 km in length. There is also evidence that the granodiorite itself may contain significant gold mineralization. Rio Algom undertook drilling in 1991 that resulted in: Hole AU-91-22 that assayed 0.50 g/t Au over 3m core length in granodiorite mineralized with chalcopyrite and pyrite. Hole AU-91-19, drilled approximately 125m south of AU-91-22, assayed 0.34 g/t Au over 1.7m core length in granodiorite. A 2011 airborne survey flown by Noble has detected numerous magnetic and conductive zones in the interior of the granodiorite that to date have not been tested by diamond drilling. The granodiorite contact area and the interior of the granodiorite creates a potential target area of about 200 square kilometers.


© S&P Capital IQ 2021
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Financials
Sales 2020 - - -
Net income 2020 4,17 M 3,31 M 3,31 M
Net cash 2020 6,12 M 4,86 M 4,86 M
P/E ratio 2020 3,17x
Yield 2020 -
Capitalization 25,2 M 20,1 M 20,0 M
EV / Sales 2019
EV / Sales 2020 -
Nbr of Employees -
Free-Float 91,7%
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Managers and Directors
H. Vance White President, Chief Executive Officer & Director
Robert D. B. Suttie Chief Financial Officer
Michael C. Newbury Independent Director
James Birks Bovaird Independent Director
Yvan Champagne Independent Director
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