Aug 06, 2009 (TheNewswire.ca via COMTEX News Network) --
(via Thenewswire.ca)
Val-d'Or, Quebec, August 6, 2009: NioGold Mining Corporation (TSX-V:NOX) (Frankfurt:NG1) ("NioGold") is pleased to report on exploration drilling results in the Val-d'Or mining camp, Abitibi, Quebec. NioGold completed five (5) diamond drill holes, for 2,507 metres, on the Siscoe East property under an option to acquire a 50% interest in the property from Alexandria Minerals Corp. ("Alexandria"). The holes investigated the west border of the Bourlamaque Batholith and K-Zone shear in proximity to the former Sullivan gold mine, as well as tested geophysical anomalies located in the northwest and southwest portions of the property.
Holes SEâ??09â??03 and SEâ??09â??04 intersected several important mineralised quartz veins, vein stockworks and fracture-controlled alteration zones associated with sheared intrusive dykes cutting the Bourlamaque Batholith. The veins and associated alteration zones returned anomalous to high-grade gold values with a best interval of 43.67 g/t Au over 1.9 metres in hole SEâ??09â??04, which contained coarse visible gold. Quartz-gold vein systems within the Bourlamaque Batholith are typically characterised by a â??nugget' effect where gold grades in drill intersections depend on the presence of erratically distributed coarse native gold. Structures that returned gold values of interest are tabled below. Intersections are estimated to be close to true width based on core angles with the principal structural fabric.
Hole # Az Dip Depth(m) Zone From(m) To(m) Core Length(m) Grade(g/t Au)
SE-09-003 176.6 â??44.0 635.0 Vein stockwork, alteration and sulphides 459.0 463.0 4.0 1.71
including 461.9 463.0 1.1 4.98
Intense fracturing, alteration and sulphides mineralisation 494.0 500.9 6.9 1.53
including 497.5 498.6 1.1 3.92
SE-09-004 175.6 â??54.5 793.0 Vein stockwork, alteration and sulphides 412.0 413.9 1.9 43.67
The Bourlamaque Batholith, a large syn-volcanic quartz-dioritic intrusive mass, hosts several quartz-gold vein systems that yielded some of the better grade ores mined in the region. Former and current gold producers include, from east to west, the Beaufor-Perron, Ferderber, Dumont, Lac Herbin and Sullivan mines. The gold mineralised structures in holes SEâ??09â??03 and SEâ??09â??04 were intersected between -300 and -350 metres vertical depth and to the west of the former Sullivan Mine, which produced 1.1M ounces of gold at an average grade of 7.65 g/t gold (1934-68) from four (4) main shear veins that strike onto the Siscoe East property.
Based on the excellent results of the first two holes drilled along the west border of the Bourlamaque Batholith, a comprehensive geological interpretation of the area and follow-up drill program is in the planning.
About the Siscoe East Property
The Siscoe East property is comprised of 96 mining claims covering 2,500 hectares located on the northwest side of the town Val d'Or, in between and around the past-producing Sullivan and Siscoe gold mines. The Siscoe Mine, Val d'Or's first and highest grade gold mine, produced 880,000 ounces of gold at an average grade of 9.22 g/t Au (1929-49) from northeast-trending veins, and from southeast trending veins along a regional shear zone known as the K-Zone.
NioGold has an option to earn a 50% interest in the property from Alexandria in consideration for 650,000 shares and expending $750,000 on exploration by June 11, 2010.
Malartic Camp
The drilling program on the Malartic camp land holdings is scheduled to start in the upcoming week and will test several high priority targets identified along under-explored segments of the Norbenite-Marbanite deformation corridor. NioGold controls a continuous 14-kilometre segment of the Norbenite-Marbanite that is host to several former and current gold producers including Goldex (Agnico-Eagle), Kiena (Wesdome), Marban, Norlartic and Kierens (NioGold).
Mine Development Associates is progressing on the first resource estimate on the Marban gold deposit and upgraded resource estimates on the Norlartic and Kierens deposits released in 2007. The numbers are expected to be available for release in September.
