Niogold drills 26.4 m of 3.62 gpt Au at Marban
2006-12-19 09:13 ET - News Release
Mr. Michael Iverson reports
NIOGOLD INTERSECTS MORE GOLD NEAR MARBAN MINE
Niogold Mining Corp. has released results from the 2006 diamond drilling program on the Marban mine block, located in the Malartic gold mining camp, Quebec.
Complete assay results were received for the initial two holes (MB-06-001 and MB-06-002) drilled to investigate the prospective Marban mine sequence, host to the past-producing Marban mine. As reported in a Stockwatch news dated Nov. 22, 2006, Niogold hole MB-06-001 cut a near-surface, thick, sulphide-mineralized zone from 64.5 to 122.8 metres down-hole (58.3 metres of core length) well above the Marban mine workings and within units similar to the Marban mine sequence. The mineralized zone returned gold values averaging 3.62 grams per tonne gold over 26.4 metres, including a higher-grade core of 7.53 grams per tonne gold over seven metres or 10.77 grams per tonne gold over four metres.
Hole MB-06-001 cut a second thick, sulphide-mineralized zone between 461.8 to 511.1 metres down-hole (49.3 metres of core length) along the down-dip extent of the Marban mine sequence. This second zone returned gold values averaging 1.3 grams per tonne gold over 43 metres or 2.1 grams per tonne gold over 16 metres, including 6.87 grams per tonne gold over two metres.
Hole MB-06-002, drilled from the same location as hole MB-06-001 and to a depth of 149.6 metres, confirmed the near-surface gold mineralization cut by hole MB-06-001 returning 5.83 grams per tonne gold over 3.2 metres or 8.02 grams per tonne gold over 2.2 metres.
MARBAN MINE AREA DRILLING RESULTS
Hole Depth Zone From To Int. Gold
No. m No. m m m gpt
MB-06-001 618.0 1 96.6 123.0 26.4 3.62
incl. 100.6 107.6 7.0 7.53
incl. 102.6 106.6 4.0 10.77
incl. 117.6 120.6 3.0 5.43
2 467.0 510.0 43.0 1.30
incl. 494.0 510.0 16.0 2.10
incl. 508.0 510.0 2.0 6.87
MB-06-002 149.6 1 108.3 111.4 3.2 5.83
incl. 108.3 110.5 2.2 8.02
From 1961 to 1974, the Marban mine produced two million tonnes of ore at an average grade 5.27 grams per tonne gold, yielding over 330,000 ounces of gold (Marban gold mines and MNRQ files). The Marban mine displays a comparable style of gold mineralization with the large S-50 zone at the Kiena mine complex, located five kilometres along strike to the southeast. Mine production from the S-50 zone (1981 to 2002) amounted to 10.7 million tonnes grading 4.75 grams per tonne gold, yielding 1.56 million ounces of gold (Wesdome).
Compilation of historic mine and drill hole data indicates that the prospective Marban mine sequence has the potential to host significant gold mineralization near the surface and down-dip from the mine workings. Initial drilling by Niogold has highlighted the potential for thick, bulk-style disseminated gold mineralization surrounding a higher-grade core. Orientation geophysical surveys are presently being conducted over the Marban mine area in order to outline near-surface mineralization. Niogold is planning a large-scale drilling program to investigate the Marban mine area in the goal of delineating a gold deposit of similar tonnage as the large S-50 zone at Kiena.
Quality assurance and quality control
The holes were drilled with NQ-size core in order to obtain larger sample volumes for the mineralized zones. The core was logged and mineralized sections were sawed in half. Sample lengths varied between 0.5 to 1.5 metres. The half-core samples were bagged, sealed and were delivered by Niogold personnel for gold assaying to Bourlamaque Assay Laboratories Ltd. in Val d'Or, Que. Samples were assayed by the fire-assay method on a 50-gram pulp split.
A quality assurance and quality control program (QA/QC) was implemented by Niogold to insure the precision and reproducibility of the analytical method as well as results. The QA/QC program includes the insertion of standards in the sample batches sent to laboratory and a systematic reassaying from the remaining coarse reject fractions by the fire-assay method for samples returning values greater than two grams per tonne gold.
We seek Safe Harbor.
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