Nouveau Monde Mining {TSX.V: NOU} has announced their first mineral resource estimate on the Tony Block of their Matawinie graphite project.
The project is located close to Montreal, Quebec, Canada.
GATINEAU, QUEBEC – Nouveau Monde Mining {TSX.V: NOU} is pleased to report the results of a first Mineral Resource Estimate, completed in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, covering the West Zone of the Tony block, Matawinie graphite property.
To see the tables and full drill results please click HERE
The Matawinie project is located in the Saint-Michel-des-Saints area, some 130 km north of Montreal, Quebec, Canada.
The Mineral Resource Estimate for the South-East and South-West zones was previously discussed in the news release dated December 15, 2015.
1 The Mineral Resources provided in this table were estimated using current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines.
2 Mineral resources that are not mineral reserves have not demonstrated economic viability. Additional trenching and/or drilling will be required to convert Inferred and Indicated Mineral Resources to Measured Mineral Resources.
3 All analyses were performed by ALS Minerals Laboratories and delivered as graphitic carbon (“Cg”), internal analytical code C-IR18.
4 Inferred Mineral Resources represent material that is considered too speculative to be included in economic evaluations. Additional trenching and/or drilling will be required to convert Inferred Mineral Resources to Indicated or Measured Mineral Resources.
5 New preliminary Mineral Resource Estimate.
6 Preliminary Mineral Resource Estimate published in the December 15, 2015 news release.
7 Mineral Resources are stated at a cut-off of 2.5% Cg.
8 Mineral Resource Estimate is limited by a depth of 100 m and the exclusion of a 60 m buffer zone around the lakes providing a maximum pit slope of 55 degrees.
The graphite Mineral Resource Estimate presented here was prepared by Yvan Bussieres, P.Eng. (Quebec) and Antoine Yassa, P.Geo. (Quebec and Ontario), both independent Qualified Persons. A Technical Report prepared in accordance with NI 43-101 guidelines will be filed on SEDAR within 45 days of this release.
To see the full news release with maps and tables, please click HERE
West Zone Data Sources and Estimation Methods
The Mineral Resource Estimate on the West Zone is based on 26 core drill holes totaling 4364.9 metres and ranging in length from 68.1 m to 253.4 m (see press release dated February 11, 2016). Samples collected from a 57 m-long trench on the West Zone (see press release dated September 23, 2014) were also used in the process. In all, seven mineralised horizons encased in paragneiss units were interpreted and modeled from this data.
The block model for the West Zone was developed with Geovia’s GEMS software, using the ID2 method of interpolation, as well as different search ellipses. The blocks used for the modelling are 5 m long by 5 m wide by 5 m high, and a single density value of 2.76 t/m3 was used. The depth of the model was limited to 100 metres (or 435 m ASL). A cut-off grade of 2.5% Cg was also applied to the model. These two limits are reflected in the constrained Mineral Resource Estimate for the West Zone, even though mineralization is known to be open at depth. This Mineral Resource Estimate is not considered to be a Mineral Reserve Estimate as an economic assessment has yet to be performed to demonstrate economic viability.
Quality Assurance / Quality Control
All quality control information on samples used to determine the Mineral Resource Estimate presented here is available in the press releases referenced in the “West Zone Data Sources and Estimation Methods” paragraph above.
The technical information pertaining to the Mineral Resource Estimate in this news release was prepared by Yvan Bussières, P.Eng., and Antoine Yassa, P.Geo., independent Qualified Persons as defined by National Instrument 43-101 guidelines.
This news release was reviewed by Antoine Cloutier, P. Geo., chief geologist for Nouveau Monde and a Qualified Person under National Instrument 43-101 guidelines.
For further information, please contact:
Eric Desaulniers, M.Sc., P.Geo.
President and Chief Executive Officer of Nouveau Monde
+1 819 923 0333
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) has in any way passed upon the merits of the proposed transaction or approved or 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 from those anticipated by such statements. 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.