VAL-D'OR, Quebec, March 18, 2010 (GLOBE NEWSWIRE) -- NioGold Mining Corporation (TSX-V:NOX) (Frankfurt:NG1) (Other OTC:NOXGF) is pleased to provide updates on exploration drilling in the Malartic gold camp, Abitibi, Quebec.
The on-going program is intended to locate and investigate the main strands of the Norbenite-Marbanite deformation corridor on trend to the east and west of the known gold deposits. Three major shears zones are recognized in the southeast part of the Company's Malartic property. These structures are the main controls on gold mineralization as they host the current NI 43-101 compliant resources defined at the Marban and Norlartic-Kierens deposits (News Release: January 28, 2010) and the North Zone.
Summary of results of economic interest are provided:
- Hole MB‑10‑101 returned an intersection of 31.2 g/t Au over 1.3 m and 5.2 g/t Au over 1.2 m at the Marban NE target, located one km northeast of the Marban deposit. The hole was drilled as a follow-up to holes MB‑07‑021 and MB‑07‑022, drilled in 2007, which returned intersections of 6.2 g/t Au over 1.2 m and 4.4 g/t Au over 1.1 m, and 4.1 g/t Au over 1.0 m and 20.7 g/t Au over 1.0 m, respectively. Gold values of economic interest at Marban NE are found in sheared or fractured mafic volcanics close to altered and mineralized porphyry intrusions. The occurrence is interpreted to represent the east extension of the North shear where limited past drilling was conducted outside the North Zone.
- Hole MB-10-098 tested the extension of the Marbanite shear zone, 450 meters to the east of NioGold's previous drilling on the Marban deposit. The hole returned a best intersection of 23.2 g/t Au over 1.2 m, opening up the potential to the east to increase the Marban resources.
- Drilling identified three important shear zones containing sections of sulphide mineralization to the northwest and on trend with the Norlartic-Kierens deposits and the North and North‑North Zones. Best results include: 12.4 g/t Au over 1.8 m (MH‑09‑014), 5.5 g/t Au over 1.0 m (MH‑09‑016) and 6.9 g/t Au over 1.1 m (MH‑09‑018).
"Our initial exploration targeting was markedly accurate in tracing the main strands of the Norbenite-Marbanite away from the known gold deposits despite local structural complexities. These structures remain strong to the east and west and generally enclose zones of alteration, vein stockwork, sulphide mineralization, and locally intruded by swarms of porphyry intrusions, characteristic of productive segments along the major deformation corridors in the district. Results to date returned thick sections of anomalous gold mineralization and some higher grade intersections of economic interest," comments Rock Lefrançois, NioGold President & COO. "We have budgeted for 20,000 meters of drilling for 2010 as a first pass exploration program along this prospective deformation zone."
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths but are inferred to be close to true width (except where structural complexities occurred) 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 mineralized zones. The core was sealed and delivered by the drilling contractor to NioGold's facilities located at the Norlartic mine site. The core was photographed for reference, logged and mineralized sections were sawed in half. Sample lengths vary between 0.5 to 1.5 meters. 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 ensure 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 programs are being conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), also 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, Quebec. The Cadillac ‑ Malartic ‑ Val-d'Or area has produced over 45M ounces of gold since the 1930s and presently encompasses eight producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold's land holdings within the Abitibi presently cover 115 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 http://www.niogold.com.
This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company's President & COO and Qualified Person as defined by National Instrument 43-101.
The NioGold Mining Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7112
FORWARD-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. 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.
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.