Malartic - Val-d'Or Projects
NioGold has consolidated a large 125 km2 (48 mi2) land package in the heart of the prolific Cadillac, Malartic and Val-d'Or gold mining camps, located in the Abitibi region of Quebec, that includes the Marban Block (100% interest), Malartic Hygrade (100%), Malartic H (60%), Camflo West (100%), Val-d'Or (100%), Héva (100%) and Siscoe East (50:50 JV) properties. The adjoining Cadillac, Malartic and Val-d'Or camps have produced over 45 million ounces of gold since the 1930's and presently encompass 7 producing gold mines (15 million ounces of reserves) and a major mine development project (Canadian Malartic, Osisko Mining).
The contiguous Marban Block, Malartic Hygrade, Malartic H and Camflo West properties, collectively named the Malartic Block, cover a 13 km stretch of a major gold mineralised structural zone known as the Norbenite-Marbanite. The Marban Block property encompasses six distinct gold deposits, namely the former Norlartic, Kierens (First Canadian) and Marban mines and the North-North, North and Gold Hawk Zones. Past production from the Norlartic, Kierens and Marban mines amounted to 600,000 ounces of gold. On the Malartic Hygrade and Malartic H properties, the Norbenite-Marbanite structure is host to a partially drill defined 1,000 m by 250 m porphyry-type gold mineralised system known as the H Zone. Further to the northwest, the Camflo West property covers a 7 km under-explored stretch of the Norbenite-Marbanite. Geophysical surveys and geological studies have outlined high priority targets along this trend.
The Siscoe East property, located in the productive Lac De Montigny sector of the Val-d'Or Camp, covers a segment of another major structure known as the K Zone. The neighbouring former Sullivan and Siscoe mine gold ores are localised in competent intrusive rocks proximal to the K Zone.
Drilling (45,000 m) and historical data compilation on the Marban Block property since 2006 has proven up Indicated resources of 598,000 ounces gold in addition to Inferred resources of 361,000 ounces gold. The gold resources are defined along a three-kilometre segment of the Norbenite-Marbanite fault zone, in and around the former Marban, Norlartic and Kierens gold mines, which collectively produced 600,000 ounces gold.
Mine Development Associates estimated the gold resources (January 2010) in accordance with National Instrument 43-101 ("NI 43-101") Standards of Disclosure for Mineral Projects using two unique gold grade cut-offs:
The gold resources, subdivided into the Norlartic-Kierens and Marban deposits, are tabulated below (resources at reportable cut-offs are highlighted in bold print; additional cut-offs are also provided in order to provide grade-distribution information, as well as to account for economic conditions other than those envisioned by the cut-offs used for reporting purposes):
In addition to the resources tabulated above, historical resources of 170,000 ounces of gold are defined in close proximity to the Norlartic and Kierens deposits; this mineralisation has not been fully evaluated by NioGold at this time. In 1989, Aur Resources estimated the following historical resources:
These estimates are historical in nature, may not be compliant with NI 43-101, and should not be relied upon.
NioGold has consolidated a large land package within the heart of an established gold mining district in the mining friendly jurisdiction of Quebec that permits for cost effective exploration and development. The grounds were acquired for their potential for near term gold resource definition and cover large under-explored sectors located along known mineral trends deemed highly prospective for new gold discoveries.
In July 2010, NioGold successfully negotiated an important partnership with Aurizon Mines Ltd. (TSX:ARZ) to further develop the Marban Block property gold resources. A three-year $20M drilling program (200,000 metres) on the Marban Block is currently underway under the Aurizon option, with a $5.9M program approved for the first year.