Val d'Or, Quebec / ACCESSWIRE / May 22, 2014 / NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF) ("NioGold") is pleased to announce that it 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. (news 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).
A map showing the H zone area is available on the website at the following link (right click and open hyperlink):
H zone area map
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.
NioGold Mining Corporation - << On Canada's Golden Highway >>
NioGold Mining Corporation is a mineral exploration company focused on gold. The Company's flagship projects are located in the Cadillac - Malartic - Val-d'Or region of the prolific Abitibi gold mining district, Quebec. The Cadillac, Malartic and Val-d'Or mining camps have produced over 45 million ounces of gold since the 1930's and presently encompasses six producing gold mines including Osisko Mining's new Canadian Malartic operations. NioGold's land holdings within the Abitibi presently cover 130km2 and encompass four former gold producers, namely the Norlartic, Kierens (First Canadian), Marban and Malartic Hygrade mines that collectively produced 640,000 ounces of gold.
NioGold's experienced and qualified technical team are overseeing the advancement of these projects, targeting expansion of the resource base.
NioGold invites you to visit the company website at www.niogold.com.
For information on NioGold Mining Corporation contact:
Michael A. Iverson Dale Paruk
President & CEO Vice-President Corporate Development
[email protected] [email protected]
Tel: (604) 856-9887 Tel: (604) 510-4505
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.
This news release includes "forward looking statements", as that term is defined in Section 27A of the Unites States Securities Act of 1933, as amended, and Section 21E of the United States Exchange Act of 1934, as amended, that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.
Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. Except as required by law, the Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.
CAUTIONARY NOTE TO U.S. INVESTORS
The United States Securities and Exchange Commission (the "SEC") permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this news release, such as 'measured resources', 'indicated resources' and 'inferred resources', which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. The news release may contain information about adjacent properties on which we have no right to explore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative of mineral deposits on our properties.
SOURCE: NioGold Mining Corporation