Niogold Mining Corp

Published : March 18th, 2010

Exploration Drilling at Malartic Returns Values Up to 31 Grams Per Tonne Gold

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NioGold Mining Latest News            March 18 2010

 

Exploration Drilling at Malartic Returns Values Up to 31 Grams Per Tonne Gold

Press Release Source: NioGold Mining Corporation On Thursday March 18, 2010, 10:38 am EDT

VAL-D'OR, Quebec, March 18, 2010 (GLOBE NEWSWIRE) -- NioGold Mining Corporation (TSX-V:NOX - News) (Frankfurt:NG1 - News) (Other OTC:NOXGF - News) is pleased to provide updates on exploration drilling in the Malartic gold camp, Abitibi, Quebec.
The on-going program is intended to locate and investigate the main strands of the Norbenite-Marbanite deformation corridor on trend to the east and west of the known gold deposits. Three major shears zones are recognized in the southeast part of the Company's Malartic property. These structures are the main controls on gold mineralization as they host the current NI 43-101 compliant resources defined at the Marban and Norlartic-Kierens deposits (News Release: January 28, 2010) and the North Zone.
Summary of results of economic interest are provided:

  • Hole MB-10-101 returned an intersection of 31.2 g/t Au over 1.3 m and 5.2 g/t Au over 1.2 m at the Marban NE target, located one km northeast of the Marban deposit. The hole was drilled as a follow-up to holes MB-07-021 and MB-07-022, drilled in 2007, which returned intersections of 6.2 g/t Au over 1.2 m and 4.4 g/t Au over 1.1 m, and 4.1 g/t Au over 1.0 m and 20.7 g/t Au over 1.0 m, respectively. Gold values of economic interest at Marban NE are found in sheared or fractured mafic volcanics close to altered and mineralized porphyry intrusions. The occurrence is interpreted to represent the east extension of the North shear where limited past drilling was conducted outside the North Zone.
  • Hole MB-10-098 tested the extension of the Marbanite shear zone, 450 meters to the east of NioGold's previous drilling on the Marban deposit. The hole returned a best intersection of 23.2 g/t Au over 1.2 m, opening up the potential to the east to increase the Marban resources.
  • Drilling identified three important shear zones containing sections of sulphide mineralization to the northwest and on trend with the Norlartic-Kierens deposits and the North and North-North Zones. Best results include: 12.4 g/t Au over 1.8 m (MH-09-014), 5.5 g/t Au over 1.0 m (MH-09-016) and 6.9 g/t Au over 1.1 m (MH-09-018).

"Our initial exploration targeting was markedly accurate in tracing the main strands of the Norbenite-Marbanite away from the known gold deposits despite local structural complexities. These structures remain strong to the east and west and generally enclose zones of alteration, vein stockwork, sulphide mineralization, and locally intruded by swarms of porphyry intrusions, characteristic of productive segments along the major deformation corridors in the district. Results to date returned thick sections of anomalous gold mineralization and some higher grade intersections of economic interest," comments Rock Lefrancois, NioGold President & COO. "We have budgeted for 20,000 meters of drilling for 2010 as a first pass exploration program along this prospective deformation zone."

Technical Info, QA/QC and Qualified Persons

Reported intervals are in core lengths but are inferred to be close to true width (except where structural complexities occurred) as the holes were drilled near perpendicular to the principal local structural orientation.

Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes of the mineralized zones. The core was sealed and delivered by the drilling contractor to NioGold's facilities located at the Norlartic mine site. The core was photographed for reference, logged and mineralized sections were sawed in half. Sample lengths vary between 0.5 to 1.5 meters. 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. Samples were assayed by the fire-assay method using an atomic absorption finish on a 50-gram pulp split.

A quality assurance and quality control program (QA/QC) was implemented by NioGold and the laboratory to ensure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards, blanks and field duplicates in the sample batches sent to the laboratory and a systematic re-assaying of samples returning values above 2 g/t Au by the fire-assay method using a gravimetric finish. As well, pulps grading above 0.5 g/t Au are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.

The drilling programs are being conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), also a Qualified Person as defined by National Instrument 43-101.
NioGold Mining Corporation - On Canada's Golden Highway

FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The TSX Venture Exchange or the Frankfurt Stock Exchange did not approve nor do not accept responsibility for the adequacy or accuracy of this news release.
CAUTIONARY NOTE TO U.S. INVESTORS
The United States Securities and Exchange Commission 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 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. U.S. investors are urged to consider closely the disclosure in our Form 20-F. The news release contains 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.

 

 

About NioGold Mining


NioGold Mining Corporation (TSX-V: NOX) (OTC: NOXGF.pk) is a gold exploration company with extensive land holdings in Northern Quebec's most prominent gold mining region adjacent to 8 producing gold mines. The Malartic project holds NI 43-101 compliant Indicated resources of 600,000 ounces gold in addition to Inferred resources of 360,000 ounces gold. The gold resources are defined along a three-kilometre segment of a regional gold mineralised fault zone, in and around the former Marban, Norlartic and Kierens gold mines, which collectively produced 600,000 ounces gold. NioGold controls a 20 km (12.5 miles) segment of this prospective fault zone. The Company plans continued aggressive drilling on its land holdings to expand the current resources and for new discoveries.

 

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24549 53rd Avenue
Langley, British Columbia V2Z 1H6


The Company's near term objective is to outline resources/reserves of several million ounces of gold through the generation of new geological concept models, focused exploration and definition drilling. The
exploration programs are managed by an experienced and highly qualified technical team, who meticulously supervise every aspect of day-to-day operations. In addition, Quebec supports the mining industry by maintaining a stimulating mining tax system. From the Quebec Government, the Company receives, in some cases, up to 38% in tax credits for work performed in the field, allowing the company to use tax credits for refinancing with no dilution to the share structure. The projects are located in proximity to the full-service mining towns of Val-d'Or and Malartic with access to gold milling facilities, a provincial highway, railroad, power lines, telecommunication systems and experienced labor force, which facilitates cost effective exploration and development.

Reasons to invest . . .

  • Explorer in Canada's premier gold mining district
  • Cadillac, Malartic and Val-d'Or mining camps, Quebec
  • 115 km2 (45 mi2) land holdings covering 20 km (12.5 miles) of gold mineralized fault
  • Surrounded by 8 operating gold mines
  • Adjoining one of Canada's largest developing gold project (Osisko Mining 11.2M ounces gold)
  • Over 60,000 m (200,000 ft) of drilling completed
  • 960,000 ounces gold resources defined and growing
  • 100,000 m (300,000 feet) of drilling planned for the next two years
  • Giant land package in elephant country

 

 

 

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NioGold Mining Corporation | 24549 53rd Avenue | Langley | British Columbia | V2Z 1H6 | Canada

Niogold Mining Corp

EXPLORATION STAGE
CODE : NOX.V
ISIN : CA6544851018
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Niogold is a gold exploration company based in Canada.

Niogold holds various exploration projects in Canada.

Its main exploration properties are MALARTIC BLOCK, CAMFLO WEST, KIERENS, LE TAC, MARBAN MINE, BLONDEAU-GUILLET, BOYVINET and PUMP LAKE in Canada.

Niogold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 56.3 millions as of today (US$ 42.5 millions, € 38.0 millions).

Its stock quote reached its highest recent level on December 29, 2003 at CA$ 0.74, and its lowest recent point on December 19, 2008 at CA$ 0.04.

Niogold has 130 820 008 shares outstanding.

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Annual reports of Niogold Mining Corp
2008 Annual Report
Financings of Niogold Mining Corp
5/29/2007Updates Exploration Programs and Announces Private Placement...
4/26/2007Completion of Brokered and Non-Brokered Private Placement
3/23/2007ANNOUNCES INCREASE TO BROKERED PRIVATE PLACEMENT
3/5/2007Brokered and non brokered private placement
Option Grants of Niogold Mining Corp
7/6/2009 Appoints new VP, Grants stock options
Project news of Niogold Mining Corp
3/11/2011(Malartic Block)Updated Mineral Resource Technical Report
3/3/2011(Malartic Block)Commences Exploration Drilling in New Sector at Malartic
1/21/2011(Marban Mine)and Aurizon Report 9.06 G/T AU Over 7.3 Metres at Marban
7/6/2010(Marban Mine)And Aurizon Form Partnership To Develop The Marban Block Pro...
2/5/2009(Marban Mine)MARBAN WEST EXTENSION DRILLING RETURNS
11/5/2008(Marban Mine)DISCOVERS HIGH-GRADE GOLD ZONE AT MARBAN
9/3/2008(Marban Mine)DRILLING AT MARBAN DELINEATES NEAR-SURFACE WEDGE ZONE
5/13/2008(Marban Mine)WEST EXTENSION TARGET AT MARBAN RETURNS 9.45 G/T GOLD
1/10/2008MARBAN DRILLING RETURNS 9.8 G/T GOLD OVER 3.0 METRES and 13....
9/5/2007CONTINUES TO OUTLINE NEW GOLD MINERALISATION AROUND FORMER M...
7/11/2007Continues to Expand Gold Mineralisation Around Historic Marb...
2/20/2007 NioGold acquires 85 km² land position
Corporate news of Niogold Mining Corp
1/11/2016IIROC Trading Resumption - NOX
1/11/2016IIROC Trading Halt - NOX
10/27/2015NioGold cuts 3.54 g/t Au over 15.2 metres at Marban
9/10/2015NioGold intersects 4.47 g/t Au over 22.0 m at Marban
8/5/2015NioGold Intersects 1.57 g/t Au Over 31.5 m At Marban
7/6/2015NioGold Reports Preliminary Leach Test Results at Marban
3/25/2015NioGold Drills 15.8 metres at 4.95 g/t Au at Marban
3/25/2015NioGold - Management Appointments
3/23/2015NioGold - Management Appointments
3/23/2015NioGold - Nominations a la direction
2/26/2015NioGold Recoupe 15.8 metres a 4.95 g/t Au a Marban
2/26/2015NioGold Drills 15.8 metres at 4.95 g/t Au at Marban
2/19/2015NioGold Lance Un Programme de Tests Metallurgiques et Augmen...
2/19/2015NioGold Launches Metallurgical Testing Program and Boosts Dr...
1/16/2015NioGold Intersects 68.73 g/t Gold Over 4.1 m on the Marban D...
11/5/2014NioGold Launches 40,000 Meter Definition Drill Program At Ma...
11/5/2014NioGold Launches 40,000 Meter Definition Drill Program At Ma...
9/18/2014NioGold Appoints Robert Wares as President and CEO
9/9/2014NioGold Releases Exploration Results From the Malartic Block...
8/29/2014NioGold Mining Appoints Sean Roosen and John Burzynski to Bo...
7/25/2014IIROC Trading Resumption - NOX
7/25/2014NioGold Mining Announces $4.9 Million Financing with Osisko ...
7/25/2014IIROC Trading Halt - NOX
5/22/2014NioGold Mining Commences Drilling on the Malartic H Property
5/13/2014NioGold Consolidates 100% Interest in the Malartic H Propert...
1/6/2014(NOX:TSX-V) NioGold Mining Shareholder Update
3/18/2010 Exploration Drilling at Malartic Returns Values Up to 31 Gr...
2/11/2010To acquire Nicolet-south property adjoining Nevado and Bowmo...
2/8/2010The Gold Report: Jay Taylor Updates NioGold Mining (TSX-V: ...
1/28/2010Reports Significant Increase In Malartic Project’s Gold Reso...
12/24/2009 Completes $2,16M financing and updates activities in the Ma...
12/14/2009Interview with NioGold's President
9/3/2009Resumes drilling in the Malartic Gold camp
8/21/2009Acquires 4 claims in Val d'or
8/6/2009 Siscoe East drilling returns 43,67 g/t Au over 1,9 metres
2/20/2009Joins the “AGORACOM 100” and Launches Online IR and Marketin...
10/1/2008OPTIONS STRATEGIC PROPERTY IN THE MALARTIC GOLD CAMP
9/30/2008ATLANTA GOLD INC. AND NIOGOLD MINING CORP. OPTION ABITIBI QU...
8/12/2008MARBAN WEST EXTENSION DRILLING RETURNS UP TO 78.90 G/T GOLD ...
7/2/2008lexandria Minerals and NioGold Mining to Enter JV on Siscoe ...
2/5/2008ACQUIRES 10 CLAIMS IN MALARTIC GOLD CAMP
1/15/2008EXTENDS KIERENS ZONE WITH 9.6 G/T GOLD OVER 3.1 METRES INTER...
12/20/2007Investor Update
11/6/2007MARBAN DRILLING RETURNS 6.05 G/T GOLD OVER 6.5 METRES
10/2/2007ROXANE URANIUM PROSPECT TRACED OVER 2 KM ON PUMP LAKE
9/25/2007DRILLING PROVES STRONG POTENTIAL AROUND FORMER MARBAN MINE
9/11/2007FINDS URANIUM ON PUMP LAKE
5/8/2007FIELD EXPLORATION ON PUMP LAKE COPPER-GOLD-URANIUM PROSPECT
5/8/2007STARTS FIELD EXPLORATION ON PUMP LAKE COPPER-GOLD-URANIUM PR...
4/26/2007INITIATES SIZEABLE DRILL PROGRAM IN THE MALARTIC GOLD CAMP
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