NioGold Mining Corporation
TSX-V Symbol:
NOX
Frankfurt Symbol: NG1
NEWS
RELEASE
NIOGOLD EXTENDS KIERENS ZONE WITH
9.6 G/T GOLD OVER 3.1 METRES INTERSECTION
Val-d'Or, Quebec, January 15, 2008: NioGold
Mining Corporation (TSX-V:NOX) (Frankfurt: NG1) ("NioGold") reports on
results of the 2007 Diamond drilling program in the Malartic Gold Camp, Abitibi
region, Quebec.
Assay results were received for 3 drill holes
completed in Q4, 2007, testing the west extent of the Norbenite Shear
deformation zone hosting the former Norlartic and Kierens gold mines and the
presently defined resources on the Marban Block property (refer to news release
dated June 28, 2007). All 3 holes were drilled on section 15+00 W and
served as a 100-metre step out from the Kierens Zone resources. The
deepest hole (MH-07-003) intersected typical Norbenite Shear mineralisation at a
vertical depth of -250 metres that returned 3.93 g/t Au over 10.3 metres core
length, including 9.85 g/t Au over 3.1 metres and 9.98 g/t Au over 1.0
metre. Core angle with dominant structural fabric indicate a true width of
about 6 metres for the interval.
Results received for holes MH 07 001 to MH 07 003
are tabled below. Readers are invited to review the Detailed Location Map
and Norlartic-Kierens Section available at www.niogold.com/marban.
The intersection in hole MH-07-003 opens up
considerable potential to expand the Kierens Zone down plunge to the west onto
the adjoining Malartic Hygrade claims. A second drill rig was mobilised on
the Marban Block property last week for deep investigation of the Norbenite
Shear to vertical depths of up 1,000 metres where no drilling has been attempted
in the past. The drill holes are planned to verify two distinct plunge
directions to the gold mineralisation of the Norlartic and Kierens Zones
delineated by geological and resource block models.
Download drilling results table in PDF
format:
Quality Assurance / Quality Control and
Qualified Persons
Diamond drill holes were drilled with NQ-size core
in order to obtain larger sample volumes for the mineralised zones. The
core was delivered by the drilling contractor to NioGold's facilities located at
the Norlartic Mine site. The core was photographed for reference, logged
and mineralised sections were sawed in half. Sample lengths varied between
0.5 to 1.5 metres. The half core samples were bagged, sealed and trucked
to Activation Laboratories Limited ("Actlabs") in Ancaster, Ontario, an
accredited laboratory. 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 insure the precision
and reproducibility of the analytical method and results. The QA/QC
program includes the insertion of standards, blanks and duplicates in the sample
batches sent to the laboratory and a systematic re-assaying from the remaining
coarse reject fraction by the fire-assay method with an atomic absorption finish
for samples returning values of 2 to 5 g/t Au and by gravimetric finish for
samples returning values greater than 5 g/t Au. As well, 10% of the pulps
are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check
assaying.
This news release was prepared by Rock Lefran�ois,
P.Geo. (OGQ), the Company's Vice-President and Qualified Person as defined by
National Instrument 43-101. The drilling was conducted under the supervision of
Julien Davy, M.Sc., P.Geo. (OGQ), also a Qualified Person as defined by National
Instrument 43-101.
NioGold Mining Corporation - � The Golden Highway
Runs Through NioGold �
NioGold Mining Corporation is a junior exploration
company primarily focused on GOLD. The Company's main properties are the
Camflo West and the Marban Block located in the Malartic and Val-d'Or Mining
Camps, Abitibi, Quebec, with a historic production of 25 million ounces of
gold. The camps presently encompass several active advanced exploration
and mine development projects such as Canadian Malartic (Osisko Exploration),
Kiena (Wesdome), Midway (Northern Star Mining), Goldex (Agnico-Eagle) and Lac
Herbin (Alexis Minerals). The Marban Block encompasses three former gold
producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that
collectively produced over 590,000 ounces of gold.
NioGold's experienced and qualified technical team
will ensure the successful advancement of the Company's projects towards the
highest quality mineral resources. NioGold invites you to visit the
company website at www.niogold.com.
For information on NioGold Mining Corporation contact:
This Press 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.
|
Niogold Mining Corp
|
|
EXPLORATION STAGE |
|
CODE : NOX.V |
|
ISIN : CA6544851018 |
|
|
| |
ProfileMarket
IndicatorsVALUE :
Projects & res.Press
releasesAnnual
reportRISK :
Asset profileContact Cpy |
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. |