NioGold Mining (NOX-V) May 22, '14 has commenced a drilling program of 1,400 metres on the H zone of the fully owned property formerly known as the Malartic H property; now consolidated as part of NioGold's Malartic block property (see news dated May 13, 2014).
The gold bearing H zone area has an extent of about one kilometer and is open on strike as well as at depth. It is located in the hinge of the synclinal of a Z-shaped regional fold illustrated by the contact between the Jacola and Heva formations. This zone is also affected by the Norbenite shear zone which hosts the Kierens and Norlartic deposits, 2-3 kilometers to the southeast on the Marban Block property also 100% owned by NioGold. The gold bearing mineralization consists of sheared basalts with disseminated pyrite intruded by altered felsic dykes that are also mineralized with pyrite.
"With our drilling campaign in 2009-2010, we were able to interpret the zone as undulating and changing orientations," said Yan Ducharme, Vice-President Exploration of NioGold. He added, "We are excited to test our geological model. This H zone is near surface, contains at least two parallel zones, has decent widths and grades and is in an isolated area that is easily accessible with a nearby road. Our goal is to confirm the geological continuity of the zones and then start building ounces. The H zone area is near our Marban Block project where we have three deposits and hopefully this could become a fourth."
The Marban Block has three deposits (Marban, Kierens and Norlartic) which collectively host estimated measured and indicated resources of 1,531,000 ounces gold (32,127,000 tonnes grading 1.48 g/t gold) plus inferred resources of 599,000 ounces gold (16,478,000 tonnes grading 1.13 g/t gold).
The exploration program is being conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), NioGold's Vice-President, Exploration and a Qualified Person as defined by National Instrument 43-101. This news release was prepared by Mr. Ducharme. |
