GATINEAU, QUÉBEC–(Marketwired – Feb. 5, 2015) – Nouveau-Monde mining enterprises (or “Nouveau-Monde”) (TSX VENTURE:NOU) (FRANKFURT:NM9) (PINKSHEETS:NMGRF) is pleased to provide an update of its exploration activities in Quebec, as well as to discuss its objectives for the upcoming exploration season.
MATAWINIE – GRAPHITE
The Matawinie graphite property, located approximately 140 km north of Montreal, is composed of 646 claims totaling 37191 ha. The claims are distributed in 10 distinct claim blocks over an area some 70 km by 60 km.
Exploration work performed by Nouveau-Monde since 2012 returned impressive results, both in terms of grade and mineralized lengths. A total of 11 boreholes performed In 2013 on the Ti-NOU block returned above 5 % graphitic carbon (“or Cg”) over a minimum length of 5 m. Borehole TN-01 displayed the best results, with 12.2 % Cg over 17.32 m. During a short trenching program executed in 2014 on the Hotel block, channel samples from trench TR-2 proved to average 5.7 % Cg over 22 m. A metallurgical scoping study made by SGS Lakefield on material from this trench revealed that 60.3 % of the resulting concentrate was composed of large flake graphite (greater than 80 mesh) with a purity of 98.5 % total carbon (see 22nd October 2014 press release).
Nouveau-Monde is planning a short drill program on the property aimed at evaluating the geometry of the high-grade graphite showings which coincide with kilometric size conductors generated from previous airborne surveys. Nouveau-Monde is also in discussions with various industry leaders and hopes to enter in a partnership in a timely manner to accelerate work on the Matawinie property.
RIVIÈRE AU CASTOR – GOLD
The Rivière au Castor property is located approximately 40 km to the southeast of the community of Radisson, James-Bay municipality. It is composed of 95 contiguous claims totaling 4839 ha. Following recent successes by Virginia Mines Inc. on their property which adjoins Rivière au Castor to the west, Nouveau-Monde proceeded with a short three day prospecting campaign over the property in the autumn of 2014. A total of 28 selected grab samples were collected, with sample 14-RC-28 returning 25.7 g/t Au from a mineralized quartz vein. Nouveau-Monde is presently seeking a partnership to further explore the Rivière au Castor property. A 43-101 compliant report on the property produced in 2013 is available on our web site (https://nouveaumonde.ca/wp-content/uploads/NI43-101_Riviere_Au_Castor_-2013-03-03.pdf).
BIENVILLE – GOLD, COPPER, NICKEL, AND PGE’S
A regional exploration program supported by satellite imagery was performed in 2014 over poorly mapped and unexplored regions of the Bienville geological sub-province in northern Quebec. The objective was to discover unknown greenstone belts and other potentially mineralized rock types. Compilation work covering over 5000 square kilometers resulted in the discovery of a previously unknown kilometer-scale ultramafic unit. Selected grab samples collected during a very short prospecting campaign returned up to 0.75 % Cu, 0.3 % Ni, 0.22 g/t Pd, 0.22 g/t Pt and 0.23 g/t Au. Following these encouraging results, Nouveau-Monde is planning a follow-up program for the summer of 2015 consisting of prospecting and channel sampling. Nouveau-Monde is presently generating new targets from the area by using the various in-house methods which lead to the discovery of the mineralized ultramafic unit.
MAC’S LEAD – LEAD, ZINC AND SILVER
The Mac’s Lead property is situated approximately 70 km northeast of the community of Kuujjuarapik, on the east coast of Hudson Bay. The property is 100 % owned by Nouveau-Monde and is composed of 61 contiguous map-designated claims covering 2960 hectares.
Historical results (non NI 43-101 compliant) from the bulk sampling of two trenches in 1965 by Shawinigan Mining and Smelter Company in the general area, as reported in document GM19016 from the Quebec Statutory Work Library, returned grades of 6.21 % Pb, 1.28 % Zn and 4.46 % Pb, 0.38 % Zn. The galena and sphalerite mineralization is hosted in concretionary limestone. Additionnally, work performed by the Nunavik Mining Exploration Fund in 2003 in the area of the Property resulted in the discovery of two mineralized showings returning 5.25 % Pb – 0.14 % Zn and 14 % Zn – 0.75 % Cd, respectively.
In 2012, a two-day reconnaissance field campaign was carried out by Nouveau-Monde with the aim of locating historical mineralized trenches and assessing the economic potential of the area. A total of 15 selected grab samples was collected along a 2.8 km-long traverse, with most samples returning anomalous results in either one or a combination of the following elements; silver (Ag), lead (Pb), zinc (Zn) or cadmium (Cd). The best values obtained by the selected grab sampling were 17.65 % Pb, 4.37 % Zn and 33 g/t Ag.
Satellite imagery compilation work is presently being performed by Nouveau-Monde with an aim of defining iron oxide zones in the area as the latter are known to be related to the Pb-Zn mineralization. The best targets will be visited during summer 2015. The company is seeking a partner to help finance an induced polarisation survey on the best targets in order to delineate potential sulfide accumulations contained within structural or stratigraphic traps. A 43-101 compliant report on the property produced in 2013 is available on our web site (https://nouveaumonde.ca/wp-content/uploads/2013-06-16_MVT-MacsLead_NOU_NI43-101Report.pdf).
A drilling campaign, aimed at testing four kimberlite targets, was conducted during late fall of 2014. The targets consisted of discrete circular magnetic anomalies typical of geophysical signatures provided by kimberlite pipes. No kimberlitic rocks were intersected, and the option agreement for the Waasikusuu property was terminated in late 2014.
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.
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 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.
For further information, please contact:
Éric Desaulniers, MSc, Géo
President and Chief Executive Officer of Nouveau Monde