NioGold Mining Corporation (TSX-V: NOX) is pleased to report on the on-going exploration drilling program within the southern portion of company's wholly-owned Malartic Block property, located in the Malartic gold camp, Abitibi region of Quebec.
The first three holes of the program intersected two important altered, veined and sulphide mineralised shear zones cutting sedimentary rocks:
- The first mineralized shear zone was intersected in hole CW-11-016 from 99.0 to 107.60 metres (8.6 metres) down hole at a vertical depth of 70 meters;
- The mineralised structure returned gold values averaging 3.15 g/t Au over 6.5 metres including an interval of 12.65 g/t Au over 0.9 metre;
- The down dip extent of this zone was cut in hole CW-11-017 from 273.3 to 282.4 metres down hole (9.1 metres) at a vertical depth of 193 meters. Results are pending;
- A second mineralized shear zone was intersected 350 metres to the south in hole CW-11-018 from 94.0 to 103.1 metres (9.1 metres) down hole at a vertical depth of 66 metres. Results are pending.
The Malartic Block property covers a potential 4- to 5-kilometre unexplored strike extent of these newly revealed mineralised structures based on their interpreted WNW-ESE orientation.
Malartic Block exploration drilling program
The southern portion of the company's large Malartic Block property is located 20 kilometres west of the town of Val-d'Or and directly adjacent to Osisko Mining Corp.'s Canadian Malartic mine development project.
An initial 6,000-metre exploration drilling program is in progress to investigate sedimentary formations on the north side of the famous Cadillac fault in proximity to the Canadian Malartic and Barnat deposits and Jeffrey Zone being developed by Osisko. Despite the obvious potential within the southern portion of the Malartic Block property, no sustained exploration programs have been conducted over the area in the past, in part due to the lack of rock exposure. NioGold ranks this sector as a high priority target for a new discovery. The drilling is investigating a combination of magnetic, electro-magnetic and induced polarisation geophysical anomalies and gold in-soil anomalies.
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