NioGold Reports High-grade Gold Results From Drilling At Marban Deposit
NioGold Mining enjoyed a modest 1.3-percent share price boost Thursday with the release of results from 20 drill holes completed at its Marban deposit. Highlights include 40.42 g/t gold over 4.8 meters in drill hole MB-15-391.
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NioGold Mining (TSXV:NOX,OTCQX:NOXGF) enjoyed a modest 1.3-percent share price boost Thursday with the release of results from 20 drill holes completed at its Quebec-based Marban deposit. It ended the day at $0.39. Those 20 holes cover a total of 6,149.5 meters, but they're not the only ones NioGold has completed at Marban these past few months. The company is currently about 43,000 meters into a 50,000-meter program at the deposit, and to date has released results from 69 holes covering a cumulative 23,383.5 meters. Some of the holes discussed in Thursday's release were completed over a strike length of 150 meters in the western area of the deposit, and the company states that they "complet[e] a 25 metre-spaced drilling pattern" there. Others were drilled on two sections of the eastern portion of the deposit; those sections "are now drilled at every 25 metres." Highlights from the new holes include: 40.42 g/t gold over 4.8 meters in drill hole MB-15-391 at 110 meters vertical depth 25.05 g/t gold over 1.2 metersin drill hole MB-15-393 at 225 meters vertical depth 159.13 g/t gold over 1.0 metersin drill hole MB-15-393 at 255 meters vertical depth 5.83 g/t gold over 6.7 meters in drill hole MB-15-398 at 120 meters vertical depth 8.51 g/t gold over 9.7 meters in drill hole MB-15-406 at 225 meters vertical depth 16.51 g/t gold over 5.2 meters in drill hole MB-15-410 at 250 meters vertical depth 26.35 g/t gold over 1.2 metersin drill hole MB-15-410 at 300 meters vertical depth Explaining the significance of those results, Robert Wares, the company's president and CEO, said in press release, "[h]igh-grade intersections that are located outside the modelled pit shell indicate a potential for increasing the in-pit resource within an enlarged shell. Alternatively, we will follow up on these intersections for their underground mining potential, which will require additional targeted drilling."