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Share Name | Share Symbol | Market | Type |
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Normabec Mining Resources Com Npv | TSXV:NMB | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Normabec Mining Resources Limited ("NORMABEC" or the "Company") (TSX VENTURE:NMB)(FRANKFURT:N6M) is pleased to announce the first results from its fall drilling program on the Pitt Gold property, located along the Porcupine-Destor Break, some 35 km north of Rouyn-Noranda, in the Abitibi region of Quebec. From October to December 2008, Normabec completed 9 holes for a total of 5,180 metres of core. All holes targeted extensions of known mineralized zones and more specifically zones 1 and 2 located in the eastern portion of the property. DRILL HOLE FROM TO LENGTH GRADE VEIN (m) (m) (m) g/t Au PG2008-08 341.0 342.0 1.0 1.65 354.0 359.0 5.0 11.52 # 1 including 356.0 357.0 1.0 18.69 and 358.0 359.0 1.0 34.43 443.0 444.0 1.0 1.18 # 2 455.5 456.0 0.5 1.74 505.0 506.0 1.0 1.12 PG2008-09 353.0 354.0 1.0 1.19 451.0 462.0 11.0 9.13 # 1 including 452.0 453.0 1.0 16.50 and 454.0 455.0 1.0 12.90 and 461.0 462.0 1.0 43.60 463.0 463.75 0.75 1.25 509.0 511.0 2.0 11.05 # 2 519.0 520.0 1.0 3.87 Of note, in both of the holes reported above, significant widths and grades are now being returned from zone 1 (11.52 g/t Au over 5 m and 9.13 g/t Au over 11 m). The Company estimates that true widths are approximately 80% of the core lengths indicated above. These two holes were drilled 100 metres apart with hole PG2008-05 located in between (see below). Results are pending for the remaining seven holes of this program. These excellent results follow on a series of outstanding intersections reported in early 2008 (please see Press Releases dated Feb. 28 and March 18) from the winter drilling program undertaken in the same area (10.43 g/t Au over 3.0 m in PG2008-01, 35.2 g/t Au over 5.0 m in PG2007-07, 21.04 g/t Au over 2.0 m and 31.75 g/t Au over 1.5 m in PG2008-05). Mineralization at Pitt Gold can be followed laterally for 500 metres and vertically for 800 metres, and remains open at depth. Notably, as is common within the prolific Porcupine-Destor region, a large majority of high grade values are found below the 300 meter level. In the fall of 2008, Normabec acquired the remaining 20% interest in the Pitt Gold property from SOQUEM Inc. and GeoNova Exploration Inc. The interests retained by the former owners have been converted into a 1% NSR royalty to each. The royalty can be bought back for $1 million. Samples were prepared and assayed at Technilab of Sainte Germaine de Boule and were subjected to fire assay with AA finish. Normabec has implemented a QAQC program which includes systematic use of standards, blanks and duplicates. Values above 3 g/t Au are systematically re-assayed. The 2008 drilling program was carried out under the supervision of Mr. Pierre O'Dowd, geologist and Qualified Person as per National Instrument 43-101. Normabec is a junior mining exploration company with a portfolio of advanced exploration projects including: the 100% owned Pitt Gold Project in Quebec and the 100% owned Real de Catorce Silver Project in Mexico.
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