SOURCE: NioGold Mining Corp.

NioGold Mining Corp.

May 25, 2011 07:00 ET

NioGold and Aurizon Report

7.38 g/t Au Over 9.3 Metres on Marban Block

VAL-D'OR, QC--(Marketwire - May 25, 2011) - NioGold Mining Corporation (TSX-V: NOX) ("NioGold") and Aurizon Mines Ltd. ("Aurizon") are pleased to report on the latest drilling results at the Marban Block property, located in the Malartic gold camp, Abitibi region of Quebec.

Assay results were received for 26 drill holes completed on the neighbouring Norlartic and Marban gold deposits.

Significant Norlartic intersections include:

  • 7.4 grams of gold per tonne over 9.3 metres (NL-11-052);

  • 5.6 grams of gold per tonne over 6.7 metres (NL-11-054);

  • 2.1 grams of gold per tonne over 28.0 metres (NL-11-057);

  • 10.8 grams of gold per tonne over 3.0 metres (NL-11-059);

  • 3.1 grams of gold per tonne over 10.9 metres (NL-11-060).

Significant Marban intersections include:

  • 5.1 grams of gold per tonne over 5.1 metres (MB-11-167);

  • 30,100.0 grams of gold per tonne over 0.5 metre (gold vein in MB-11-170);

  • 1.8 gram of gold per tonne over 56.3 metres (MB-11-173);

  • 9.1 grams of gold per tonne over 4.5 metres (MB-11-174);

  • 17.2 grams of gold per tonne over 1.0 metre (MB-11-175).

The initial program under the terms of the Aurizon option agreement commenced on August 30 and includes 50,000 metres of diamond drilling. Three drill rigs are currently in operation on the project. To date, 137 holes have been drilled for a total of 35,340 metres. Results from 66 holes were previously released, results from 26 holes are included in this release, and results are pending for 45 completed drill holes.

Norlartic deposit drilling
Twenty-one (21) drill holes, for a total of 4,320 metres, were completed on the Norlartic deposit during the winter. Results for seven (7) holes (NL-11-040 to -045 and -047) were previously released. Results received for an additional eight (8) holes (NL-11-052 to -057, -059 and -060) are tabled on the following pages. Complete assay results for holes NL-11-048, -049 and -058 are pending. Holes NL-11-050 and -051 were part of the fence drilling between the Norlartic and Marban deposits.

This initial phase of drilling at Norlartic was aimed at better defining the entire width of the Norbenite shear gold mineralised envelope within the top 200 metres from surface, and more specifically along the western 500-metre strike extent of the Norlartic deposit. Past drilling over this portion of the deposit mainly targeted the Main Zone (MZ), which consists of a sulphide and gold mineralised vein stockwork localised in an intrusive dike cutting the central portion of the Norbenite shear.

The holes completed during the winter confirmed: 1) the presence of other veined and mineralised intrusive dikes in the hanging wall (HW) of the Main Zone and 2) the near surface extent of the Norlartic deposit consists of a wide gold mineralised envelope characterised by intrusive dikes cutting sheared ultramafic volcanic rocks.

Marban deposit drilling
Ninety-eight (98) holes and two (2) extensions of previous holes, for a total of 27,780 metres, were completed on the Marban deposit since the start of the program in August. Results for 58 holes (MB-10-102 to MB-11-157, MB-06-002ext and MB-07-005ext) were previously released. Results received for an additional 18 holes (MB-11-158 to -175) are tabled on the following pages.

Drilling to date has covered a 1,050-metre strike extent of the Marban gold mineralised system and was mainly directed at 1) completing a 50-metre drill hole spacing array within the top 300 metres from surface and 2) verifying the extension of the gold mineralised shear zones to surface.

The drilling program at Marban has now shifted to deeper drilling to test the down dip extension of the mineralised zones, mainly from 300 to 500 metres vertical depth, as well as select in-fill drilling at 25-metre spacing.

Fence drilling between Norlartic and Marban deposits
Three (3) 300-metre spaced exploration drill hole fences were completed to trace the Norbenite shear and subsidiary structures on strike and to the southeast of the Norlartic deposit and to the north of the Marban deposit. The fences consist of 16 drill holes (NL-11-046, -050 and -051 and MB-11-201 to MB-11-213) for a total of 3,240 metres. Results were previously released for hole NL-11-046 that returned an interval of 21.2 metres averaging 1.23 g/t Au located along the southeast extent of the Norlartic deposit. Results are pending for the other holes.


Norlartic drill results
HoleLineStationAzDipDepth
(m)
From
(m)
To
(m)
Length
(m)
Grade
(g/t Au)
Zone(s)
NL-11-0521+35 W1+85 NN205°-60°210.0182.3186.94.61.2HW
200.7210.09.37.4Main
NL-11-0531+80 W1+55 NN210°-45°239.0138.4146.88.41.6HW
152.6158.66.03.2Main
165.5176.110.61.4FW
NL-11-0542+70 W2+25 NN210°-45°284.0206.7213.46.75.6Main
220.0222.02.03.1Main
NL-11-0552+40 W0+70 NN210°-45°49.034.940.15.20.9HW
45.349.03.72.0HW
NL-11-0564+30 W0+60 NN210°-45°200.048.049.21.24.3HW
58.862.33.50.9Main
NL-11-0570+15 W0+85 NN210°-45°153.039.968.028.02.1HW
91.299.38.11.8Main
NL-11-0592+25 W1+50 NN210°-49°226.1129.2137.58.30.9HW
142.7145.73.010.8Main
151.2152.10.97.2Main
NL-11-0602+25 W1+50 NN210°-65°266.4153.3169.316.01.5HW
including166.4169.32.95.8HW
179.0189.910.93.1Main

Marban drill results
HoleLineStationAzDipDepth
(m)
From
(m)
To
(m)
Length
(m)
Grade
(g/t Au)
Zone(s)
MB-11-1581+00 E0+10 SN180°-55°197.0139.3142.02.70.8E
MB-11-1591+50 E0+15 SN180°-55°184.4145.2145.90.76.7E
MB-11-1602+50 W0+05 SN180°-45°215.0143.9144.70.86.4D1
MB-11-1612+00 W1+15 SN180°-45°122.074.578.54.02.1C1-B
MB-11-1622+50 W0+60 SN180°-45°170.078.079.21.23.1Z
102.0102.60.69.2B
107.0131.624.60.8B-A
MB-11-1633+50 W0+75 SN180°-50°176.087.995.07.10.7E
MB-11-1643+50 W0+10 SN180°-50°221.033.636.02.46.1
117.5119.21.73.1E
132.9134.01.18.8B
MB-11-1653+50 W1+15 NN180°-55°323.0155.3158.73.41.82
169.5183.814.30.8Y
205.5211.25.70.8E
242.0242.60.66.2B
MB-11-1664+50 W0+35 NN180°-50°197.070.071.01.05.52
MB-11-1674+50 W0+25 SN180°-50°158.0111.8116.95.15.1E
MB-11-1685+00 W0+20 SN180°-50°146.0127.5128.20.70.9T

Marban drill results cont.
HoleLineStationAzDipDepth
(m)
From
(m)
To
(m)
Length
(m)
Grade
(g/t Au)
Zone(s)
MB-11-1695+00 W0+35 NN180°-50°188.0104.6112.68.01.5
MB-11-1703+00 E2+50 SN180°-45°191.085.085.50.530100.0VG
138.8140.01.24.6T
MB-11-1715+00 W1+65 NN180°-50°272.086.687.91.33.6
MB-11-1721+00 E3+25 NN180°-58°603.0353.1357.54.41.9E
MB-11-1734+00 E0+20 SN180°-45°409.0162.6179.016.41.2D3
251.8263.611.81.4J
266.3322.656.31.8C1-A-
P-M-V
including284.5296.011.53.3P
including306.0319.013.02.9M
MB-11-1744+00 E0+95 SN180°-45°326.087.090.93.93.7E
136.6141.65.02.5
212.1212.80.79.2C2
225.3233.68.32.1A
268.0272.54.59.1W
308.0309.21.215.4T
MB-11-1752+50 E0+97 SN180°-55°323.0145.4146.41.017.2
229.0236.27.21.0

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 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. NioGold is 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 Company's Exploration Manager and a Qualified Person as defined by National Instrument 43-101. This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company's President and a Qualified Person as defined by National Instrument 43-101.

NioGold

Mining Corporation - " On Canada's Golden Highway "
NioGold Mining Corporation is a mineral exploration company focused on GOLD. The Company's flagship projects are located in the Cadillac - Malartic - Val-d'Or stretch of the prolific Abitibi gold mining district, Province of Quebec, Canada. The Cadillac, Malartic and Val-d'Or mining camps have produced over 45 million ounces of gold since the 1930s and presently encompasses seven producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold's 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. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.

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:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

FOWARD-LOOKING STATEMENTS

This 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.

CAUTIONARY NOTE TO U.S. INVESTORS

The 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 'measured resources,' 'indicated resources' and 'inferred resources,'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.

version française à http://niogold.com/category/news-french

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