Island Pond Gold Project – Noble Mineral Exploration (TSXV: NOB – OTCQB: NLPXF)

Introduction

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company holding several highly prospective properties in some of Canada’s most prolific mining jurisdictions. Operating as a project generator, Noble de-risks projects through data compilation and exploration in order to generate option agreements and joint venture exploration programs to benefit shareholders. Projects include;

• Project 81 ~25,000+ ha – Nickel-Cobalt/VMS/Gold property in the Timmins-Cochrane area of Northern Ontario
• Nagagami ~ 14,600 ha – Niobium and Rare Earths in the Nagagami River Carbonatite prospect near Hearst, Ontario
• Boulder ~ 4,600 ha – VMS/Copper/Gold property just outside Hearst, Ontario
• Buckingham ~ 3,700 ha -High grade Graphite property in the Outaouais area of South Western Quebec
• Cere-Villebon ~ 482 ha – Copper-Nickel-PGM property near Val d’Or, Quebec
• Laverlochere ~ 518 ha – Nickel-Copper-Cobalt-Gold and PGM property near Rouyn-Noranda, Quebec
• Island Pond ~14,400 ha – VMS/Copper/Gold in Central Newfoundland
• Holdsworth ~ 304 ha – Gold Project near Wawa, Ontario

In addition to the exploration assets, Noble also holds various royalties and interests in other companies and projects within the mining and exploration sector. Operating under a project generator model has allowed The Company to capitalize on projects through JV’s and spin outs that result in Noble having a robust portfolio of equity positions.

• Canada Nickel Company Inc. – 2.9 million shares + 2% Royalty on all Noble staked claims in 5 townships
• Spruce Ridge Resources Ltd. – 18 million shares
• Go Metals Corp. – 1.4 million shares+ 800,000 warrants
• MacDonald Mines Exploration Ltd. – 350,000 shares
• Private Company #11530313 Canada Inc. – 50/50 JV on certain claims within Project 81

For the purpose of this article, the focus will be on the Island Gold Project

Project Overview

On December 23rd, 2021, Noble acquired 576 mining claims in Central Newfoundland, covering an area totaling approximately 14,400 hectares. The Island Pond project is contiguous to Spruce Ridge’s Foggy Pond Property, 14 km northwest of their South Pond gold-copper project and 56 km southeast of the historic Buchans high-grade zinc mine.

Figure 1 – Island Pond claim boundaries

Regional Geology & Mineralization

The property is located within an area of Central Newfoundland that is geologically mapped as a single unit of Cambrian-Ordovician siliclastic sediments trapped between a series of non-magnetic Devonian Plutons to the west and southeast. The plutons themselves are not considered to be of exploration interest but they could have altered the rocks around them. From the regional magnetic data, a strong magnetic trend exists within the siliclastics that is interpreted to be an unmapped volcanic intrusion. A preliminary structural interpretation, based solely on regional scale aeromagnetic surveys, suggests a multi-fold metamorphic history with a very high potential for repetition of stratigraphy within these newly staked claims.  

Spruce Ridge Resources (SHL) Foggy Pond Property, contiguous to the east, shows a similar magnetic feature. SHL has reported their preliminary interpretation indicating the possibility for a repetition of known copper and gold mineralization on a western limb. Additionally, preliminary interpretation of new  high resolution magnetic data over Foggy Pond show localized magnetic anomalies that could be ophiolite slivers along a major northeast trending structure analogous to the Grub Line located just east of New Found Gold’s high-grade gold discovery located approximately 75 km to the east.

Furthermore, historic exploration on the Spruce Ridge Great Burnt and South Pond Property was found to contain economic concentrations of copper and possibly gold within volcanic rocks that intruded the siliclastic sediments. The magnetic trend at Island Pond is over 22 km in strike length and up to 3.5 km wide. This region of Newfoundland has received almost no exploration due to the thin but extensive overburden cover and lack of forest suitable for the logging industry (which would have resulted in a road infrastructure).

More Current Exploration

On January 17th, 2023, Noble announced that they acquired additional claims in Newfoundland from a local prospector. The property covered the northern extension of Spruce Ridge’s South Pond Project and along trend with drilling that intersected 51.00 metres averaging 1.69 grams of gold per tonne (g/t Au) in hole SP21-01, 15.00 metres of 2.36 g/t Au (including 4.00 metres of 5.29 g/t Au) in SP21-03, 21.20 metres of 1.75 g/t Au in SP21-08, 17.60 metres of 1.34 g/t Au in SP21-11 and 21.00 metres of 2.06 g/t Au in SP21-14. (See Figure 2)

Figure 2 – Additional Claim Boundaries

At this time the company is planning a geophysical program on the property.

Updates will be provided as they occur.

Disclosure

At the time of creation, Noble Mineral Exploration is a client of Insidexploration Analytics Inc.

Disclaimer

Project Reports are under the Issuers editorial control and published on Insidexploration.com  Information contained in Project Reports may change over time and may differ from other sources. For more information, please reference https://www.noblemineralexploration.com/ for Corporate, Technical Information and Project Specifications for the latest public disclosures.

Further;

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