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NioGold Mining Corp (NOX.V) - assays from a 2008 drill programme on the Marban Block
Comment by Objective Capital , Aug 14, 2008
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Niogold has received its assays from a 2008 drill programme on the Marban Block property in Quebec. The assays cover 16 holes drilled west of the old Marban mine shaft, all of which yielded gold values. To date, the company has drilled 47 holes into the Marban West Extension target and the Wedge zone.
The latest results from the West Extension target include a three-metre interval in hole MB-08-042 that produced 78.9 grams of gold per tonne using a metallic sieve method, and 363.07 grams of gold per tonne using a fire assay/gravimetric finish.
Hole MB-08-043 produced 21.6 grams of gold over 1.1 metres and a deeper, 2.2-metre zone averaged 10.7 grams of gold. At MB-08-044, Niogold obtained 11 grams of gold over 1.1 metres, 9.28 grams over 1.2 metres and 6.29 grams of gold per tonne over six metres. Several other holes produced noteworthy assays.
Objective's view:
We believe the latest assays are an encouraging indication that significant gold mineralisation is present over the West Extension target area of the Marban Block. This zone appears to have the potential to contain high-grade oreshoots. Although the reported intersections are core lengths, we believe the intervals are close to the true width of the zones, as the holes were drilled perpendicular to the general structural trend.
Niogold plans infill drilling at a spacing of 50 metres to establish continuity for several discrete gold-bearing structures on the property. We view the latest results as supportive of our base-case and optimistic valuations for Niogold.
