MARBAN WESTERN HIGH GRADE ZONE RETURNS 7.28 G/T AU OVER 7.2 METRESVal-d’Or, Quebec - June 12, 2012 -...
technical studies, including metallurgical test work (see news release of April 24th), should becompleted by the end of th...
Drill results – Marban Deposit Easting Northing Hole Length From To Lengt...
NioGold Mining Corporation – « On Canada’s Golden Highway »NioGold Mining Corporation is a mineral exploration company foc...
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PRESS RELEASE: MARBAN WESTERN HIGH GRADE ZONE RETURNS 7.28 G/T AU OVER 7.2 METRES

June 12, 2012
Published on: Mar 4, 2016
Published in: Business      Technology      
Source: www.slideshare.net


Transcripts - PRESS RELEASE: MARBAN WESTERN HIGH GRADE ZONE RETURNS 7.28 G/T AU OVER 7.2 METRES

  • 1. MARBAN WESTERN HIGH GRADE ZONE RETURNS 7.28 G/T AU OVER 7.2 METRESVal-d’Or, Quebec - June 12, 2012 - NioGold Mining Corporation (TSX-V:NOX)(OTCQX:NOXGF) (“NioGold”) is pleased to report additional results from the Phase Two drillingprogram conducted under the terms of the earn-in option of Aurizon Mines (“Aurizon”) on theMarban Block property, located in the Malartic gold camp, Abitibi region of Quebec. Theseresults are in continuation of the previously very encouraging results of the Phase Twopublished previously (see news release of March 1st and April 26th).Results from 22 new drill holes and three (3) extensions of previous holes were obtained on theMarban gold deposit and are included in this release. The drill results are tabled on thefollowing pages.The new results highlight the presence of wide mineralised intervals, as well as smaller highgrade intervals mainly located within the Western High Grade Zone (“WHGZ”), which is locatedimmediately west of the former Marban Mine, from surface down to a depth of 250 metres.Drilling highlights include: The best results from the in-fill drill holes on the WHGZ returned the following:  5.13 g/t Au over 6.0 m on section 3700 at a vertical depth of 230 m (MB-12-282)  4.67 g/t Au over 13.0 m on section 3675 at a vertical depth of 140 m (MB-12-284)  26.10 g/t Au over 1.2 m, 7.28 g/t Au over 7.2 m and 39.50 g/t Au over 1.0 m on section 3650 at a vertical depth of 95 m, 125 m and 130 m respectively (MB-12-297)  24.60 g/t Au over 1.2 m on section 3575 at a vertical depth of 30 m (MB-12-300)  45.80 g/t Au over 1.0 m on section 3800 at a vertical depth of 75 m (MB-12-306) Shallow high grade intervals were also obtained along the Marban deposit:  24.20 g/t Au over 0.5 m on section 4350 at a vertical depth of 22 m (MB-12-275)  39.10 g/t Au over 1.2 m on section 3950 at a vertical depth of 115 m (MB-12-287)The 25 holes are distributed along a strike of 950 metres along the Marban deposit and they arecontributing to improve the quality of the near surface resource.The Phase Two drilling program started on December 13, 2011 and concluded on May 31st witha total of 34,656 metres distributed in 90 holes and nine (9) extensions of previous holes. Anupdated mineral resource estimate based on the Phase One drill results, as well as basic ON CANADA’S GOLDEN HIGHWAY
  • 2. technical studies, including metallurgical test work (see news release of April 24th), should becompleted by the end of the second quarter, 2012.Marban deposit drillingThe 2010-2012 drill programs confirmed the geological model interpreted by NioGold andtherefore the continuity of the mineralised zones. They were also instrumental in developing theshallow area called the Western High Grade Zone and identification of the Eastern Down DipZone which is located below a vertical depth of 250 metres and remains open at depth andlaterally.Aurizon OptionAurizon can earn up to a 65% interest the Marban Block property under the terms of an optionand joint venture agreement dated July 5, 2010, between NioGold and Aurizon. The initial 50%interest can be earned by incurring expenditures of $20 million over three years, completing anupdated NI 43-101 compliant mineral resource estimate, and by making a resource payment for50% of the total gold ounces defined by the mineral resource estimate. NioGold remains theproject operator during the initial earn-in period (see news release dated July 6, 2010).Technical Info, QA/QC and Qualified PersonsReported intervals are in core lengths but are anticipated to approximate true width, exceptwhere structural complexities occur, as the holes were drilled near perpendicular to the principallocal structural orientation.Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes ofthe mineralised zones, except for holes that traversed underground workings which werecompleted using BQ-size core. The core was sealed delivered by the drilling contractor toNioGold’s facilities located at the Norlartic mine site. The core was photographed for reference,logged and mineralised sections were sawed in half. Sample lengths vary between 0.5 to 1.5metres. Half core samples were bagged, sealed and delivered to ALS Chemex in Val-d’Or,Quebec, an accredited laboratory. The remaining core is stored on site for reference. Sampleswere assayed by the fire-assay method using an atomic absorption finish on a 50-gram pulpsplit. A quality assurance and quality control program (QA/QC) was implemented by NioGoldand the laboratory to insure the precision and reproducibility of the analytical method andresults. The QA/QC program includes the insertion of standards, blanks and field duplicates inthe sample batches sent to the laboratory and a systematic re-assaying of samples returningvalues above 2 g/t Au by the fire-assay method using a gravimetric finish. As well, pulpsgrading above 0.5 g/t Au are sent to Bourlamaque Assay Laboratories Ltd. in Val-d’Or for checkassaying.The drilling program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo.(OGQ), the NioGold Vice president of exploration and a Qualified Person as defined by NationalInstrument 43-101. The news released was prepared by Mr. Ducharme. ON CANADA’S GOLDEN HIGHWAY
  • 3. Drill results – Marban Deposit Easting Northing Hole Length From To Length Grade Hole Azimuth Dip Zones (m) (m) (m) (m) (m) (m) (g/t Au) MB-12-274 4500 3941 N180° -59° 480.0 57.6 67.2 9.6 0.99 2 211.2 211.7 0.5 11.10 J 285.2 290.0 4.8 4.34 M 422.3 424.6 2.3 4.74 MB-12-275 4350 3840 N180° -48° 345.0 29.7 30.2 0.5 24.20 2 48.3 59.3 11.0 0.81 E MB-12-278 4100 4220 N180° -56° 512.0 35.1 41.5 6.4 0.87 331.1 335.6 4.5 4.34 B 353.0 362.4 9.4 1.50 C2 MB-12-279 3950 4030 N180° -45° 314.0 249.1 257.0 7.9 0.56 T MB-12-281 3725 4320 N180° -47° 461.0 376.2 380.8 4.6 3.15 E MB-12-282 3700 4230 N180° -48° 401.0 112.8 113.7 0.9 4.57 301.4 307.4 6.0 5.13 E incl 301.4 302.5 1.1 16.35 E 313.2 314.4 1.2 8.55 D1 MB-12-283 3725 4185 N180° -47° 380.0 261.7 267.7 6.0 3.23 E 274.5 280.1 5.6 3.02 D1 MB-12-284 3675 4160 N180° -47° 332.0 148.4 149.6 1.2 5.26 185.6 198.6 13.0 4.67 2 MB-12-285 3750 4100 N180° -46° 312.0 151.4 152.5 1.1 12.40 2 177.5 178.1 0.6 12.45 Z 189.4 190.3 0.9 4.24 226.5 227.5 1.0 7.69 E 263.2 264.7 1.5 4.82 A MB-12-287 3950 4245 N180° -45° 485.0 162.2 163.4 1.2 39.10 231.4 232.5 1.1 5.58 2 313.9 314.8 0.9 11.55 E 381.0 392.0 11.0 1.75 A 416.1 426.3 10.2 1.79 T MB-12-289 3850 4145 N180° -45° 390.0 221.4 222.3 0.9 5.51 Z MB-12-290 3850 4075 N180° -45° 332.0 163.3 164.5 1.2 14.90 Z 168.6 170.5 1.9 8.32 Z MB-12-294 3550 4135 N180° -51° 270.0 58.2 59.4 1.2 3.27 MB-12-297 3650 4085 N180° -52° 294.0 117.0 118.2 1.2 26.10 151.6 158.8 7.2 7.28 2 164.0 165.0 1.0 39.50 Z 188.8 192.4 3.6 5.20 E MB-12-298 3550 4070 N180° -50° 230.0 63.0 64.2 1.2 6.77 MB-12-300 3575 4000 N180° -51° 284.0 34.2 35.4 1.2 24.60 2 MB-12-301 3625 4000 N180° -51° 240.0 135.0 136.9 1.9 2.57 E MB-12-302 3650 4025 N180° -51° 246.0 153.2 157.5 4.3 1.19 E MB-12-303 3650 3965 N180° -50° 207.0 120.9 122.0 1.1 6.10 E MB-12-304 3600 3895 N180° -51° 201.0 53.8 65.4 11.6 1.25 E MB-12-305 3675 4020 N180° -47° 252.0 94.4 95.6 1.2 5.58 2 160.2 162.6 2.4 5.43 E MB-12-306 3800 4035 N180° -49° 273.0 98.7 99.7 1.0 45.80 MB-07-016ext 4550 3844 N180° -60° 210.0 222.0 223.2 1.2 1.90 MB-08-055ext 4250 4210 N180° -63° 390.0 to 437.2 447.9 10.7 2.04 C1 571.0 460.0 461.2 1.2 6.34 A MB-08-069ext 4050 4050 N180° -63° 224.0 to 237.3 245.4 8.1 1.66 B 371.0 293.6 294.2 0.6 6.14 A ON CANADA’S GOLDEN HIGHWAY
  • 4. NioGold Mining Corporation – « On Canada’s Golden Highway »NioGold Mining Corporation is a mineral exploration company focused on gold. The Company’sflagship projects are located in the Cadillac - Malartic - Val-d’Or region of the prolific Abitibi goldmining district Quebec. The Cadillac, Malartic and Val-d’Or mining camps have produced over45 million ounces of gold since the 1930’s and presently encompasses six producing gold minesincluding Osisko Mining’s new Canadian Malartic operations. NioGold’s land holdings within theAbitibi presently cover 130km2 and encompass four former gold producers, namely the Norlartic,Kierens (First Canadian), Marban and Malartic Hygrade mines that collectively produced640,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold andInferred resources of 361,000 ounces gold in and around these deposits.NioGold’s experienced and qualified technical team are overseeing the advancement of theseprojects, with current drill programs underway targeting expansion of the resource base.NioGold invites you to visit the company website at www.niogold.com. For information onNioGold Mining Corporation contact:Michael A. Iverson, Chairman & CEO Dale Paruk, Vice-Presidentmiverson@niogold.com dparuk@niogold.comTel: (604) 856-9887 Tel: (604) 662-4505 Toll-free: (877) 642-6200Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined the policies of theTSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.FORWARD-LOOKING STATEMENTSThis news release includes "forward looking statements", as that term is defined in Section 27A of the Unites StatesSecurities Act of 1933, as amended, and Section 21E of the United States Exchange Act of 1934, as amended, thatare subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historicalare forward looking statements, including without limitation any statements concerning the Companys intentions,plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forwardlooking statements in this news release are reasonable, there can be no assurance that any such forward lookingstatements will prove to be accurate. The Company cautions readers that all forward looking statements, includingwithout limitation those relating to the Companys future operations and business prospects, are based onassumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actualevents or results to differ materially from those indicated in the forward looking statements. Readers are advised torely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward lookingstatements.Any forward looking statements are made as of the date of this news release, and the Company assumes noobligation to update the forward looking statements, or to update the reasons why actual events or results could or dodiffer from those projected in the forward looking statements. Except as required by law, the Company assumes noobligation to update any forward looking statements, whether as a result of new information, future events orotherwise.CAUTIONARY NOTE TO U.S. INVESTORSThe United States Securities and Exchange Commission (the “SEC”) permits U.S. mining companies, in their filingswith the SEC, to disclose only those mineral deposits that a company can economically and legally extract orproduce. 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 filingswith the SEC. The news release may contain information about adjacent properties on which we have no right toexplore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative ofmineral deposits on our properties. ON CANADA’S GOLDEN HIGHWAY

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