Noble Completes Phase 1 Drilling on Boulder Project near Hearst, Ontario:

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October 29, 2024
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(TheNewswire)

Provides Update on Timmins and Wawa Area, Gold Projects

Toronto, Ontario TheNewswire – October 29, 2024 Noble Mineral Exploration Inc. ( ‘Noble’ or the ‘Company’ ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that Phase 1 drilling on the 214 claims in Way Township (Boulder Project) has been completed. The claims extend from about 4 to 15 km southwest of the town of Hearst, Ontario. The property area is equivalent to approximately 4,500 hectares or 45 sq km. The purpose of the Phase 1 drill program was to identify the nature of the till and bedrock geology in the vicinity of the mineralized boulder discovery. This was necessary since about 90% of the property is glacial till covered.

Historically, a sample of a metalliferous boulder, brought to the Timmins Mining District Regional Resident Geologist in 2019 by a Mr. A. Cousineau, was submitted for chemical analysis to Geolabs in Sudbury to establish its metal and mineralogical makeup. Geolabs determined that the boulder contained: 71.8% copper; 3.5% lead, 1.09% zinc; 252 g/t of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/t of platinum and consisted primarily of cuprite (van Hees et al., 2020).

In 2021, Noble launched a surface exploration program to in an effort to identify the source of the boulder. Basal till samples collected from two fences of hand auger holes, located about 100 m and 1 km north of the boulder, produced 35 gold grains . In 2022 an airborne geophysical survey was flown over the property followed by a ground geophysical survey in November/December 2023.

The Phase 1 drill holes were focussed in the vicinity of the boulder location in order to better understand the physical and fault related geology as defined by geophysics done in the Fall of 2023. The data collected in the Phase 1 drill program is in the process of being evaluated.

Induced Polarization (IP) surveys conducted in 2024 identified several anomalies, located immediately north and northwest of the copper boulder discovery site. These IP and nearby magnetic anomalies coincide with the location overburden drill holes that produced gold grains in the overlying till.

Phase 2 drilling will be focussed on these various chargeability and conductive anomalies detected during the recent ground and airborne surveys and will likely start in 2025.

The 2024 drill program was partially funded by OJEP (the Ontario Junior Exploration Program) sponsored by the Ontario Government whereby 50% of the approved exploration expenses for the project will be refunded back to Noble.

Figure 1: Photo of the Cousineau Boulder

References:

van Hees, E.H., P. Bousquet, J. Suma-Momoh, C.M. Daniels, S.L.K. Hinz, C. Boucher, P. Sword, L. Wang, S.P. Fudge, A. Millette and C. Patterson, 2020. Report of Activities 2019, Resident Geologist Program, Timmins Regional Resident Geologist Report: Timmins and Sault Ste. Marie Districts; Ontario Geological Survey, Open File Report 6366, 160p.

The Lucas Township Gold Project

The Lucas Township Gold Project is a drill-ready project located approximately 30 km north of Timmins, Ontario.

In 2018 Noble completed 15 NQ size diamond drill holes totaling 3,184 meters covering approximately 650m strike length of the 1700m Gold Mineralized structure/trend identified from 2012 and 2018 Airborne Electromagnetic and Differential Magnetic Surveys. Noble located 37 historical drill-hole collars in the field and twinned three of these historical drill holes. No further work has been done since 2018.

The Project has 6 discrete IP anomalous trends which require follow-up exploration. Only one trend (Anomaly A, Figure 2, Table 1) has been investigated by diamond drilling to date. Gold mineralization is interpreted to be structurally controlled and occur as discrete lenses stacked within the pyrite plus gold mineralized tuffaceous unit.

Future work will include further drilling on the IP Anomaly A to further define the known gold mineralization. In addition, testing the other 5, undrilled, IP anomalies to test for gold mineralization similar to that found in Anomaly A.

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Figure 2: Plan of Induced Polarization Zones Projected to Surface with Collars of 2018 Drilling and Magnetic Background

Table 1: Gold Intersections from Noble’s 2018 Drill Program (True width not known at this time)

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Holdsworth Gold Project

The Wawa-Holdsworth Project is located 3 km north of the town of Hawk Junction and 20 km northeast of the town of Wawa in Corbiere and Esquega Townships, Ontario and comprises 18 contiguous fee simple absolute patented claims covering approximately 285 hectares. The property has year-long road access as well as easy access to other infrastructure including rail, road, electrical power, labour force and suppliers.

Historic work has defined three gold targets on the Wawa Holdsworth Project (Figure 3 ) :

1) the Soocana Quartz Vein System

2) massive Pyrite Zones with an oxidized cap

3) black granular oxide zone referred to as the ‘Oxide Sands’

The Soocana Vein System was tested during 4 separate drill programs conducted between 1931 and 2008. Results from these drill programs indicated a strike length of 750 metres for the vein system.

Selected channel sampling results across a 51-meter strike length of this vein averaged 14.7 g/t Au in widths ranging from 0.5 to 1.5 meters. The latest drilling was done by Noble Minerals in 2008 (Table 2)

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Figure 3: Gold Zones on the Holdsworth Property

Table 2: Noble Minerals 2008 Drill Program on the Soocana Vein System (True width not known at this time)

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The massive Pyrite Zones appear to be formed in a sulphide iron formation and represents a distinct gold target. The sulphides exhibit shearing and form steeply 5 dipping east-west trending lenses distributed along a mafic/felsic metavolcanic contact over a defined strike length of 2.2 km. Initial drilling between 1918 and 1930 focussed on the sulphur content of the Pyrite Zones whereas the exploration programs of the 1980s recognized a gold association. Seven drill holes in Pyrite Zones contained assays that varied from nil to relatively wide sections gold bearing material, the best being 0.85 g/t over 11.83 metres in a 1988 drill hole (Reed Lake Exploration Ltd.). Another gold intersection of 5.18 g/t gold over 1.5 metre was also obtained in a sericite-altered shear zone in the hanging wall of this zone.

The Oxide Sands are believed to be the product of the weathering of the gold bearing massive pyrite zones described above. Detailed exploration work and systematic sampling of the Oxide Sands was undertaken by Noble Minerals over a strike length of 332.5 metres. At this location, where samples reached a depth of at least 8 meters, the average gold grade was 3.45 g/t and the average silver grade was 29.99 g/t. Other identified zones in the Oxide Sands remain to be tested in detail since they were not geologically defined or sampled. The spatial association between the Oxide Sands and the Pyrite Zones indicate that the 2.2 km-long strike-length is prospective for gold. Preliminary gold recovery tests carried out by Welch and SGS Lakefield on Oxide Sands material indicated gold recoveries ranging from 69% to 98.7 % for composite samples and from 45.6% to 89.8% for individual samples after a 48-hour agitated cyanide leach without sample crushing.

A model is currently being studied in order to efficiently extract the gold and silver from the Oxide Sands.

Dargavel Gold Project

The Dargavel Property is accessed from Timmins by travelling approximately 60 km north on Highway 655 and then using a maintained unmarked logging road. The project is located within 250 to 700 m of a logging road.

First recorded exploration in the area, began with the International Nickel Company drilling 14 holes from 1964 to 1966, including hole 25013 which intercepted 3.06 g/t Au over 1.43 m at 65.62 meters depth. (see Table 3 and Figure 4)

From 1981 to 1982, Hudbay Mining Limited flew airborne EM surveys, following up on a few anomalies with drilling. Hudbay drill tested these anomalies with 3 drill holes in the Dargavel area (K-81-1, K-81-3, and K-81-4). A NW-SE trending long linear conductive feature was attributed to an iron formation unit and drill tested, intercepting some pyrrhotite and pyrite mineralization. Another drill hole testing a conductor intersected 0.96% Zn over 1.70 m.

Chevron Canada Resources Limited flew airborne EM surveys and performed IP surveys from 1984 to 1985. Chevron also conducted a drill program during this period with the K-84 and K-85 series drill holes. Hole K84-3 intercepted 7.1 g/t Au over 2.0 m at 72.0 m depth and 3.8 g/t Au over 2.1 m at 319.0 m depth; hole K85-9 intercepted 1.2 g/t Au over 1.0 m at 129.0 m depth. (see Table 3 and Figure 4)

Table 3: Historical Drilling Results on the Dargavel Property (True width not known at this time)

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Figure 4: Location of Historical Drilling

In 2011, Noble Mineral Exploration acquired the P81 Property from Abitibi Bowater Canada Inc. Noble performed regional helicopter airborne EM and magnetic surveys over various areas of the property in November 2011.

In 2020 Noble completed a 6-hole diamond drill program totaling 1390.5 m on the Dargavel Property. The goal of the drill program was to follow up on historical anomalous gold values in drill holes completed by INCO in their 1964 to 1966 drill campaigns and Chevron in their 1984 to 1985 drill campaigns. In addition to test new prospective areas based on the latest geological and geophysical interpretation. (see Figure 5 and Table 4)

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Figure 5: Results of Noble 2020 Drill Program (True width not known at this time)

Table 4: Results of Noble 2020 Drill Program (True width not known at this time)

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In early 2022 Noble contracted NPLH Drilling to complete a 5-hole (and 1 abandoned hole) diamond drill program totaling 1253 m on the Dargavel Property. All samples collected from the drill core were submitted to Activation Laboratories Ltd Timmins (Actlabs) for analysis. A total of 291 samples were taken including 10 Standards and 6 Blanks.

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Figure 6: Location of Noble 2022 Drill Holes

Table 5: Results from Noble 2022 Drill Program

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The Lucas Township Gold Property, Holdsworth Gold Property and the Dargavel Gold Property are available for joint venture or option. For information contact Vance White (contact information at the end of this press release.

Wayne Holmstead P.Geo (ON), a ‘qualified person’ as defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.

About Noble Mineral Exploration Inc.:

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and Lode Gold Resources Inc . , and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20% interest in ~11,000 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at:

www.noblemineralexploration.com .

Noble’s common shares trade on the TSX Venture Exchange under the symbol ‘NOB’.

Cautionary Statement:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: H. Vance White, President

Phone: 416-214-2250

Fax: 416-367-1954

Email: info@noblemineralexploration.com

Investor Relations: ir@noblemineralexploration.com

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