SOURCE: NioGold Mining Corp

April 14, 2011 09:48 ET

NioGold and Aurizon Report 1.91 G/T Au Over 58.3 Metres at the Marban Block

VAL-D'OR, QUEBEC--(Marketwire - Apr 14, 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 29 drill holes completed on the neighbouring Norlartic and Marban gold deposits. Results are tabled on the following pages.

Significant Norlartic intersections include:

  • 3.06 grams of gold per tonne over 10.7 metres (NL-11-040);
  • 6.75 grams of gold per tonne over 4.6 metres (NL-11-042);
  • 1.91 gram of gold per tonne over 58.3 metres (NL-11-047).

Significant Marban intersections include:

  • 14.02 grams of gold per tonne over 2.1 metres (MB-10-137);
  • 39.70 grams of gold per tonne over 1.1 metre (MB-10-137);
  • 5.80 grams of gold per tonne over 4.1 metres (MB-10-142).

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 a total of 29,150 metres were drilled in 116 holes. Results are pending for 50 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. This initial phase of drilling 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, which consists of a sulphide and gold mineralised vein stockwork localised in an intrusive dike cutting central portion of the Norbenite shear.

The holes completed to date 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 envelop characterised by intrusive dikes cutting sheared ultramafic volcanic rocks. Highlights of the results from the first eight (8) holes include a section averaging 1.91 gram per tonne gold over 58.3 metres in hole NL-11-047.

Marban deposit drilling

Eighty-eight (88) holes, for a total of 23,290 metres, were completed on the Marban deposit since the start of the program in August. 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 initial phase of drilling at Marban has:

  • Validated the geological and structural model of the deposit;
  • established excellent lateral and vertical continuity to the mineralised shear zones;
  • demonstrated the potential for both bulk tonnage and narrower higher-grade ore shoots.

The remaining phase of this year's drilling program at Marban includes deeper drilling to test the down dip extension of the mineralised zones, mainly from 300 to 500 metres vertical depth.

In addition, three (3) widely spaced exploration drill hole fences are in progress to investigate the one kilometre area between the Marban and Norlartic deposits. Five (5) drill holes, for a total of 1,000 metres, were completed to date over this target.


Norlartic Drill Results
HoleLineStationAzDipDepth (m)From (m)To (m)Length (m)Grade (g/t Au)Zone(s)
NL-11-0401+28 W0+22 NN210°-60°129.026.637.310.73.06Main
122.2123.41.24.23Granodiorite
NL-11-0412+70 W0+40 NN210°-45°153.021.728.87.10.62HW
31.243.011.82.37Main
NL-11-0423+15 W0+40 NN210°-45°186.438.743.34.66.75Main
NL-11-0433+60 W0+50 NN210°-45°210.022.134.812.71.60HW
including22.126.54.42.80HW
38.041.63.62.25HW
48.857.58.91.14Main
NL-11-0443+40 W1+15 NN210°-45°270.088.199.211.10.79HW
104.9109.34.41.08Main
154.8156.01.27.94FW
NL-11-0450+90 W0+50 NN210°-55°60.237.260.022.80.81HW-Main
including44.046.02.04.37HW
NL-11-0463+70 E0+60 NN210°-55°204.067.889.021.21.23HW-Main
including67.874.36.52.36HW
NL-11-0470+83 W1+10 NN210°-45°183.090.9149.258.31.91HW-Main-FW

Marban Drill Results
HoleLineStationAzDipDepth (m)From (m)To (m)Length (m)Grade (g/t Au)Zone(s)
MB-10-1372+50 E1+30 SN180°-55°302.531.032.21.28.24Y
150.2163.313.10.87C-B-D1
215.5217.62.114.02P
238.5239.61.139.70T
MB-10-1382+50 E1+90 SN180°-55°252.0134.6135.20.68.59C
MB-10-1392+00 E1+25 SN180°-65°299.0119.8120.50.75.58
MB-10-1404+00 W0+80 SN180°-50°167.070.385.915.60.52E
MB-10-1414+00 W0+40 NN180°-50°266.044.245.41.25.13
102.7104.01.311.842
133.7147.413.71.12Z
including139.0142.83.83.15Z
MB-10-1424+00 W1+70 NN180°-50°332.0205209.14.15.80Z
MB-10-1433+50 W2+40 NN180°-55°398.0254.9261.46.51.22Y
MB-10-1444+00 W3+00 NN180°-50°401.0104104.90.912.7
242.2269.527.31.05Y-2
MB-10-1454+50 W2+95 NN180°-50°347.084.285.41.23.25
MB-10-1465+00 W3+00 NN180°-50°299.049.555.66.10.67
MB-11-1474+50 W1+65 NN180°-50°269.0152.0153.01.014.102
161.4162.20.85.51Y
MB-11-1481+50 W0+40 NN180°-45°281.0195.8200.64.80.98D1
MB-11-1491+50 W0+30 SN180°-45°230.0142.0154.912.90.59D1
MB-11-1502+00 E1+80 SN180°-65°230.0132.7135.02.31.54A-C
MB-11-1512+00 E0+40 NN180°-65°245.0166.1172.46.32.23E
MB-11-1521+50 E1+10 NN180°-55°231.5210.9211.91.06.85E
MB-11-1531+50 E0+75 SN180°-55°300.0177.0183.26.21.21A-B-C-D1
186.8199.813.01.37C1-C2
MB-11-1541+50 E1+35 SN180°-55°221.0184.3187.22.90.88T
MB-11-1550+50 E2+13 SN180°-55°120.059.070.811.81.80A
MB-11-1560+001+05 SN180°-42°170.0133.7165.631.90.64T
MB-11-1571+00 W1+40 SN180°-56°176.042.442.90.535.50E

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 was conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), 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.

Board of Directors Change

The Company also announces that Mr. Simon Ridgway has resigned as a director due to his increasing time commitments to Fortuna Silver Mines, Radius Gold and other companies in the Gold Group. The board wishes to thank Mr. Ridgway for his contributions to the Company and wishes him well in all his future endeavors.

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 1930's 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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