GATINEAU, QUEBEC–(Marketwired – Oct. 9, 2014) – Nouveau Monde Mining Enterprises Inc. (“Nouveau Monde“) (TSX VENTURE:NOU) (OTC:NMGRF) is pleased to announce it has identified several kimberlite exploration targets on its Waasikusuu Property following the completion of a high-resolution heliborne magnetic survey. The survey, totalling 1038 line-km on three distinct blocks, was flown in August 2014. The magnetic data was acquired by Prospectair Geosurveys of Gatineau along lines spaced every 50 m. Survey operations were carried out from Waskaganish.
Detailed interpretation of the data resulted in the selection of 35 discrete magnetic anomalies which were submitted to further modelling in order to identify sources whose size, geometry and magnetic susceptibility values show similarities to known kimberlite pipes in Quebec and elsewhere in Canada. This work led to the identification of five cylinder-shape modelled sources deemed as high priority exploration targets. 3D images of these targets can be accessed using the following links :
A core drilling campaign will be initiated this upcoming fall to assess the five priority targets.
About the Waasikusuu Project
The Waasikusuu Property is underlain by the Archean Superior craton which hosts the economic Attawapiskat and Renard kimberlites. The exploration target is a cluster of well defined, isolated and circular magnetic anomalies selected from 250 m line-spacing airborne survey flown by the Quebec Government in 2011-2012. Nouveau Monde considers that a number of elements indicate the project area is most favourable for kimberlites. First, it rests up-ice of where abundant kimberlitic indicator minerals (KIMs) were recovered from basal till by Majescor Resources in the mid-2000s. Elevated KIM counts and the presence of fragile surface textures on many of the grains strongly suggested proximity to source while the mineralogy of the KIMs which included G10, G9 and G1 garnet, picroilmenite, forsteritic olivine and chrome diopside implied a unified source.
Additionally, the property remains underexplored, although it lies on a favourable structural corridor identified by Quebec Government geologists of the Ministère des Ressources Naturelles du Québec (MRNQ) in the late 1990s. The presence of an outlier of Devonian sediments mapped by the MRNQ on part of the project area suggests that little erosion has occurred compared to surrounding regions, arguing for a potential for large pipes as at Attawapiskat. Finally, the sector does not lend itself readily to glacial sediment or alluvium sampling as the glacial geology is complex and characterized by a thick overburden cover which includes late glacial lacustrine marine clay.
The technical information in this news release was prepared by Antoine Cloutier, geo, chief geologist for Nouveau Monde, and by Joël Dubé, Eng., external consultant specialised in geophysics. Both act as qualified persons under National Instrument 43-101.
Further to the news release dated September 12th 2014
Following the release regarding the closing of the non-brokered private placement on September 11th 2014, Nouveau Monde wishes to inform that Corporation Financiere SKTM Ltd., a Company controlled by Martin Nicoletti, Chief Financial Officer of the Company, subscribed for an amount of 10,000 $ (50,000 units) in the placement.
About Nouveau Monde
Nouveau Monde is a mining exploration company holding a large portfolio of properties for base and precious metals, and industrial minerals in the province of Québec. Our business model is based on the generation of projects in new, underexplored territories using the most advanced remote sensing and geophysical tools available in the industry. Our expertise with these modern tools allows us to perform cost effective exploration work while maximizing the chance for major discoveries. Our company is looking to develop its prospects in partnership with the objectives to expose our shareholders to a multitude of potential world-class discoveries.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward-looking statement.
For further information, please contact:
Éric Desaulniers, MSc, Géo
President and Chief Executive Officer of Nouveau Monde