NioGold Mining Corporation
TSX-V Symbol:
NOX
Frankfurt Symbol: NG1
NEWS RELEASE
MARBAN DRILLING RETURNS 9.8
G/T GOLD OVER 3.0 METRES and 13.1 G/T GOLD OVER 1.9 METRES
Val-d'Or, Quebec, January 10,
2008: NioGold Mining Corporation (TSX-V:NOX) (Frankfurt: NG1)
("NioGold") reports on results of the 2007 diamond drilling program on the
Marban Block property, located in the Malartic Gold Camp, Quebec.
Assay results were received for 9 drill
holes completed in Q4, 2007, on the Marban Mine target. The holes returned
additional strong gold results within the favourable units hosting the former
Marban Mine ores (Mine Sequence) with best intervals of:
-
hole MB-07-028 : 5.06 g/t Au over 6.4
m, incl. 9.78 g/t Au over 3.0 m;, 9.47 g/t Au over 1.2 m;
-
hole MB-07-024: 3.84 g/t Au over 8.7
m, incl. 13.14 g/t Au over 1.9 m;
-
hole MB-07-025: 7.23 g/t Au over 1.2
m.
Other gold mineralised intersections of
significance were obtained within the hangingwall ultramafic units above the
Mine Sequence:
-
hole MB-07-029: 6.16 g/t Au over 2.9
m;
-
hole MB-07-020: 5.49 g/t Au over 1.0
m;, 7.36 g/t Au over 1.0 m.
Results are tabled on the following
page. Reported intervals are in core lengths but are inferred to be close to
true width as the holes were drilled perpendicular to the attitude of the
mineralised zones.
NioGold completed 27 drill holes, for a
total of 10,825 metres, on the Marban Mine target in 2007. The holes tested a
750-metre strike extent of the gold mineralized system, from sections 5+50 E to
2+00 W. Gold mineralised zones are mainly localised in proximity to the upper
and lower contacts of the Mine Sequence with best values and thickest intervals
often associated with tight folding of the contacts. The drilling also revealed
potential within the hanginwall ultramafic units well above the Mine
Sequence.
The 2007 drilling over the sector
highlighted the robust nature of the Marban gold mineralised system and the
Company believes that the target offers excellent potential to outline new
high-quality resources at relatively shallow depths (0 to 500 metres vertical
depth) within the Mine Sequence. Much more drilling will be needed in order to
establish continuity of the gold mineralised zones intersected in 2007. An
additional 10,000 metres of drilling was planned and is presently in progress
that is mainly intended to investigate the west strike extent of the system
where limited drilling was conducted in the past.
Readers are invited to review the
previously reported results for holes MB-07-003 to MB-07-018 available at www.niogold.com/marban.
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 exploration programs are 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 - �
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.
