GATINEAU, QUÉBEC – Nouveau Monde Mining Enterprises Inc.(“Nouveau Monde“) (TSX VENTURE:NOU) is pleased to announce that as a consequence of the recent exploration work made on the Matawinie property, the Corporation will now focus its resources to develop the claim block previously called ‘Hotel’. The block has been renamed ‘Tony’ so as to highlight the exceptional work of Antoine Cloutier, the geologist who discovered the extensive graphite mineralization and outlined the potential of the area.
Nouveau Monde is also pleased to report that all necessary permitting to proceed with our work program over the Tony block was received on June 15th2015. The work will consist of stripping, trenching, and 9000 m of core drilling. The objective of the exploration program is the definition of a NI 43-101 compliant graphite resource before the end of 2015.
Moreover, a prospecting campaign targeting the electromagnetic anomalies detected in the Southern and Eastern portions of the Tony block was carried out from June 1st to 12th (see May 28th press release). A preliminary visual inspection of the samples suggests that the conductivity can be best explained by the same graphite-bearing paragneiss observed in the western and northern zones. In total, 18 samples are currently at the ALS Minerals laboratory to determine their graphite content. Assay results are expected shortly and they will be announced when received.
A 35 km line-cutting program km is slated to start this week on the conductors which total over 12 linear km along strike. The work will be followed by a ground-based electromagnetic survey using the PhiSpy system. This portable TDEM device accurately detects conductive units to a depth of over 10 m enabling timely excavation and sampling of mineralized bodies. The above surface exploration work is meant to assist in selecting the widest mineralized zones for drilling within the 12 linear km long conductive structure.
Tony Block – Project Matawinie
A compilation map of the Tony block showing the location of the 18 samples collected in early June :
It is important to mention that all conductors investigated thus far on the Tony block are associated with graphite mineralization. This can be readily seen on the geophysical results image showing the location, as well as a summary of trench/channel, and significant grab sample values obtained in 2014 (see September 23rd 2014 press release). The metallurgical results achieved by SGS Lakefield on material collected in the area is considered to be exceptional considering that the graphite concentrate produced during that test is composed of 68% of large flake (+ 100 mesh), including 30% that is in the jumbo flake category (+48 mesh) with an average grade of 98.2% in carbon (see October 22nd 2014 press release). The quality of the graphitic material from the region is well known to graphite buyers because of the presence of the only currently producing mine in North America, owned and operated by Imerys Graphite & Carbon, and located roughly 120 km west of the Tony claim block.
The Tony block is located about 130 km north of Montreal and only a few kilometers to the south-west of the community of St-Michel-des-Saints. All infrastructure necessary for a mining operation (electricity, qualified staff, water, asphalt roads, contractors, etc) is located within few kilometers from the mineralized bodies. The primary mission of Nouveau Monde is to develop the Matawinie project in close partnership with the local community in a spirit of sustainable development and the strict respect of the environmental regulations. Sustainable development representatives from Nouveau Monde are in discussions with local authorities and stakeholders at every exploration steps of the project.
The technical information in this news release was prepared by Eric Desaulniers, MSc, Géo, president and CEO of Nouveau-Monde and a qualified person under National Instrument 43-101.
For further information, please contact:
Eric Desaulniers, MSc, Géo
President and Chief Executive Officer of Nouveau Monde
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Nouveau Monde will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Nouveau Monde.