{"id":1302,"date":"2011-01-13T03:50:57","date_gmt":"2011-01-13T08:50:57","guid":{"rendered":"http:\/\/metroactive.org\/wordpress\/?p=1302"},"modified":"2011-01-13T03:50:57","modified_gmt":"2011-01-13T08:50:57","slug":"niogold-to-intensify-drilling-in-malartic-with-two-more-drills","status":"publish","type":"post","link":"https:\/\/metroactive.org\/wordpress\/2011\/01\/13\/niogold-to-intensify-drilling-in-malartic-with-two-more-drills\/","title":{"rendered":"NIOGOLD TO INTENSIFY DRILLING IN MALARTIC WITH TWO MORE DRILLS"},"content":{"rendered":"

Val-d\u2019Or, Quebec – January 13, 2011<\/strong> – NioGold Mining Corporation (TSX-V:NOX) (\u201cNioGold\u201d or the \u201cCompany\u201d) is stepping up its exploration activity in the Malartic gold camp, Abitibi region of Quebec.\u00a0 The Company plans to drill in excess of 55,000 metres on its land holdings during 2011.\u00a0 Two drill rigs are currently in operation and two more will be added by the end January.<\/p>\n

Marban Block property<\/p>\n

Two drill rigs are in operation at the Marban gold deposit since late August under the terms of the Aurizon Mines Ltd. (\u201cAurizon\u201d) option agreement.\u00a0 To date, 47 holes and two (2) extensions of previous holes were completed for a total of 13,000 metres.\u00a0 Results for 15 holes were reported and more results are expected to be released shortly.\u00a0 The initial phase of the program is confirming the geological and structural model and the continuity to the gold mineralised zones at Marban.\u00a0\u00a0<\/p>\n

A third drill rig will be added by month\u2019s end to complete 5,000 metres of shallow definition drilling on the Norlartic gold deposit, more specifically within upper 200 metres from surface.<\/p>\n

Aurizon can earn up to a 65% interest in the Marban Block property under the terms of an option and joint venture agreement signed last July (see news release dated July 6, 2010).\u00a0 The initial 50% interest can be earned by incurring expenditures of C$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.\u00a0 NioGold is the project operator during the initial earn-in period.<\/p>\n

The first year program of Aurizon\u2019s earn-in includes 50,000 metres of diamond drilling mainly directed at better defining and increasing the near surface mineral resources at the Marban and Norlartic gold deposits.\u00a0<\/p>\n

Malartic camp exploration<\/p>\n

Following the closing of a C$7.5 million financing in December (see news release dated December 23, 2010), the Company has budgeted for a minimum of 20,000 metres of exploration drilling for 2011.
\nSeveral targets have been identified on the Company\u2019s extensive Malartic camp land holdings with a priority given to investigate under-explored sectors where favourable geological and structural settings were identified from comprehensive compilation work.\u00a0<\/p>\n

The 2011 campaign is scheduled to start in late January with an initial 4,000 metres of drilling planned to investigate sedimentary formations in the southern portion of the Malartic Block claims.\u00a0 The targets lie immediately to the north of the famous Cadillac fault and the Canadian Malartic, Barnat and Jeffrey Zone gold deposits being developed by Osisko Mining Corporation.\u00a0<\/p>\n

\u201cThe Company is very pleased with the initial drilling results on the Marban Block under the partnership with Aurizon and there will be a lot more developments to come in 2011.\u00a0 The successful closing of a $7.5 million financing in December will allow the Company to be aggressive on pure exploration drilling in 2011 and probe areas in the heart of the mining camp that have been overlooked in the past\u201d commented Rock Lefran\u00e7ois, NioGold President & COO.
\nNioGold Mining Corporation \u2013 \u00ab On Canada\u2019s Golden Highway \u00bb<\/p>\n

NioGold Mining Corporation is a mineral exploration company focused on GOLD.\u00a0 The Company\u2019s flagship projects are located in the Cadillac – Malartic – Val-d\u2019Or stretch of the prolific Abitibi gold mining district, Province of Quebec, Canada.\u00a0 The Cadillac, Malartic and Val-d\u2019Or mining camps have produced over 45 million ounces of gold since the 1930\u2019s and presently encompasses seven producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining).\u00a0 NioGold\u2019s land holdings within the Abitibi presently cover 125 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold.\u00a0 NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.\u00a0\u00a0<\/p>\n

NioGold\u2019s experienced and qualified technical team will ensure the successful advancement of the Company\u2019s projects towards the highest quality mineral resources.\u00a0 NioGold invites you to visit the company website at www.niogold.com<\/a>.\u00a0 For information on NioGold Mining Corporation contact:<\/p>\n

Michael A. Iverson, Chairman & CEO\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Dale Paruk, Vice-President
\nmiverson@niogold.com<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 dparuk@niogold.com<\/a>
\nTel: (604) 856-9887\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Tel: (604) 662-4505
\nToll-free: (877) 642-6200<\/p>\n

FOWARD-LOOKING STATEMENTS
\nThis news 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.<\/p>\n

CAUTIONARY NOTE TO U.S. INVESTORS
\nThe United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this news release, such as \u2018measured resources\u2019, \u2018indicated resources\u2019\u00a0 and\u00a0 \u2018inferred resources\u2019, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 20-F. The news release contains information about adjacent properties on which we have no right to explore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative of mineral deposits on our properties.<\/p>\n

For further information please contact:
\nDale Paruk
\nNioGold Mining
\nTel: 604-662-4505
\nToll-free 1-877-642-6200
\nEmail: dparuk@niogold.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Val-d\u2019Or, Quebec – January 13, 2011 – NioGold Mining Corporation (TSX-V:NOX) (\u201cNioGold\u201d or the \u201cCompany\u201d) is stepping up its exploration activity in the Malartic gold camp, Abitibi region of Quebec.\u00a0 The Company plans to drill in excess of 55,000 metres on its land holdings during 2011.\u00a0 Two drill rigs are…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1302","post","type-post","status-publish","format-standard","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/1302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/comments?post=1302"}],"version-history":[{"count":0,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/1302\/revisions"}],"wp:attachment":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/media?parent=1302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/categories?post=1302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/tags?post=1302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}