(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 SE?09?03 and SE?09?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 SE?09?04, which contained coarse visible gold. Quartz-gold vein systems within the Bourlamaque Batholith are typically characterised by a ?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 ?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 ?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 SE?09?03 and SE?09?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.
Quality Assurance / Quality Control and Qualified Persons
Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes of the mineralised zones. 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.
This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company's President and Qualified Person as defined by National Instrument 43-101. The drilling programme is 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 - « The Golden Highway Runs Through NioGold »
NioGold Mining Corporation is a junior exploration company primarily focused on GOLD. The Company's flagship projects are located in the Malartic and Val-d'Or gold mining camps, Abitibi region of Quebec. The camps have produced over 27 million ounces of gold and presently encompass several active advanced exploration and mine development projects such as Canadian Malartic (Osisko Exploration), Goldex (Agnico-Eagle), Kiena (Wesdome), Lac Herbin (Alexis Minerals) and Midway (Northern Star Mining). The Malartic camp land holdings encompasses three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced over 590,000 ounces of gold.
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:
Michael A. Iverson, Chairman CEO Dale Paruk, Vice-President
miverson@niogold.com dparuk@niogold.com
Tel: (604) 856-9887 Tel: (604) 662-4505
First Canadian Capital Corp.
Leo Karabelas
lkarabelas@firstcanadiancapital.com
Tel: (416) 742-5600 x235
This Press 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.
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