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Noble acquires graphite claims in Quebec

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Global Mining Review,

Noble Mineral Exploration Inc. has announced that it has entered into an agreement to acquire the Buckingham graphite property, which is located in the Outaouais region of Western Québec, and to engage Wayne Holmstead as its Exploration Manager.

Pursuant to the agreement that was signed between the parties, when Noble completes the acquisition of the Buckingham graphite property from Holmstead, it will then also sign a consulting agreement for Holmstead to begin serving as its Exploration Manager.

Holmstead brings 40+ years of exploration experience in Ontario and Quebec to Noble. He is a P.Geo who graduated from the University of Toronto, and has held positions of President, Vice President Exploration, Exploration Manager, and Director for various Junior Mining companies over the years. In short, he has experience directing all aspects of mineral exploration in Canada.

The Buckingham graphite property is located in the Outaouais area of the Grenville Subprovince of Quebec. The property consists of 30 claims (1803 hectares) and contains three separate graphite occurrences. The main occurrence (McGuire) was worked by Stratmin Inc. in 1985-86 when a ground electromagnetic survey was done following a regional airborne survey. Three diamond drill holes were completed to intersect the electromagnetic anomalies, two of which intersected graphite mineralization. The graphite was found to be hosted by marble and gneissic rocks.

Although the nature of the graphite on the Buckingham Property has not been determined, graphite concurrences in this area are normally coarse grained, flake graphite. This type of graphite is the most desirable of the naturally occurring types that is used to produce lithium-based batteries.

The second graphite occurrence (Cummings) is described as a: “deposit in the form of narrow bands of graphite occurring in gneiss and marble over a length of 300 m and a width of 30 m. The graphite occurs in several irregular bands within the 30 m zone.” The Cummings Occurrence is located about 1.5 km southeast of the McGuire Occurrence.

The third graphite showing on the property is called the Robidoux Occurrence and is located approximately 4 km east of the McGuire Occurrence. It was described by the Quebec Superintendent of Mines in a 1910 report as a “partially uncovered graphitic bed over a length of about 40 ft. Some shallow pits have also exposed graphitic outcrops, presumably of the same bed, for an additional distance of 75 to 100 ft. The bed where exposed by the main stripping is about 4 ft thick and dips into the side of a low hill at an angle of 40 to 50°.” It was also noted that “the graphite ore contains over 30% carbon.”

Work program on the Buckingham Property will include a property visit with prospecting to identify the existing showings and historic drill holes. A beep mat will be used to identify new conductive zones that may represent graphitic horizons.

The consideration for the acquisition are the costs of staking and reserving to the vendor a 2% NSR that will be subject to Noble’s right to buyback 50% of the NSR for CAN$1 million.

The transactions are subject to approval of the Board of Directors of Noble, as well as to compliance with TSX Venture Exchange policies, securities, laws and regulations, and other laws and regulations.

Vance White, President and CEO of Noble, said: “We are extremely pleased to have Wayne join the Noble team and to bring knowledge and understanding of projects in northern Ontario and Quebec. The addition of the Buckingham Graphite project adds in the search for viable projects related to the ever-evolving battery related industries in the search for a ‘greener’ world. Following exchange approval, a budget and plan of exploration will be developed.”

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Lithium mining news Canadian mining news