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Marban Western High Grade Zone Returns 7.28 G/T Au Over 7.2 Metres

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Marban Western High Grade Zone Returns 7.28 G/T Au Over 7.2 Metres

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NioGold Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) report additional results from the Phase Two drilling program conducted under the terms of the earn-in option of Aurizon Mines (“Aurizon”) on the Marban Block property, located in the Malartic gold camp, Abitibi region of Quebec. These results are in continuation of the previously very encouraging results of the Phase Two published 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 the Marban gold deposit and are included in this release.  The drill results are tabled on the following pages.

 

The new results highlight the presence of wide mineralised intervals, as well as smaller high grade intervals mainly located within the Western High Grade Zone (“WHGZ”), which is located immediately 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 are contributing to improve the quality of the near surface resource.

 

The Phase Two drilling program started on December 13, 2011 and concluded on May 31st with a total of 34,656 metres distributed in 90 holes and nine (9) extensions of previous holes. An updated mineral resource estimate based on the Phase One drill results, as well as basic technical studies, including metallurgical test work (see news release of April 24th), should be completed by the end of the second quarter, 2012.

 

Marban deposit drilling

 

The 2010-2012 drill programs confirmed the geological model interpreted by NioGold and therefore the continuity of the mineralised zones. They were also instrumental in developing the shallow area called the Western High Grade Zone and identification of the Eastern Down Dip Zone which is located below a vertical depth of 250 metres and remains open at depth and laterally.

 

Aurizon Option

 

Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and 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 an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold remains the project operator during the initial earn-in period (see news release dated July 6, 2010).

 

Technical Info, QA/QC and Qualified Persons

 

Reported intervals are in core lengths but are anticipated to approximate true width, except where structural complexities occur, 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 mineralised zones, except for holes that traversed underground workings which were completed using BQ-size core.  The core was sealed 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 vary between 0.5 to 1.5 metres.  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 insure 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 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 National Instrument 43-101. The news released was prepared by Mr. Ducharme. 

 

Drill results – Marban Deposit

 

 

Hole
Easting
(m)
Northing
(m)
Azimuth
Dip
Hole Length
(m)
From
(m)
To
(m)
Length
(m)
Grade
(g/t Au)
Zones
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

 

Posted June 12, 2012

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