NioGold Mining Corp (NOX.V) – more encouraging assays
Source: http://www.objectivecapital.co.uk/ocuk/articles/081112-410.asp?oid=RDFPosted on Wednesday, November 12th, 2008 | In Small & Micro Cap, Stocks to Watch
bReason for comment/bbrbr
NioGold Mining Corp continues to generate encouraging assays from its Marban Block property in northwestern Quebec. The company has assays from seven new holes completed during its 2008 drill programme on the property. Two holes each encountered the near-surface wedge zone and the dip extension of the Mine zone. Four tests intersected a new high-grade mineralised zone within the Hanging Wall Ultramafic zone, located above and north of the Wedge zone.
pThe one test of the Wedge zone yielded 6.14 grams of gold per tonne over a 2.4-metre interval, and the one Mine zone hole produced 7.65 grams of gold over 4.6 metres, within a broad 73.4-metre interval averaging 1.06 grams of gold per tonne.
pNioGold’s assays from the Hanging Wall Ultramafic zone include 31.68 grams of gold per tonne over 2.2 metres, 18.11 grams of gold over 3.7 metres and 16.6 grams of gold over 1.2 metres, all at core length depths of less than 100 metres. The holes were drilled perpendicular to the structural trend and NioGold believes its intervals are close to true width values.
pOne of the seven holes failed to yield significant gold values.
pBObjective’s view:/BBRBR
pNioGold’s drilling continues to demonstrate the potential for the Marban Block property to host high-grade gold mineralisation, potentially of economic interest. We view the latest results as continuing to support our base-case valuation of the project and NioGold in these clearly pessimistic times.
BRBR
For all our previous comments on this company visit:
A href=http://www.objectivecapital.co.uk/NOX.V.asphttp://www.objectivecapital.co.uk/NOX.V.asp/a
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 About Gabriel Didham (http://objectivecapital.co.uk)
Gabriel Didham, CFA Managing Director, Objective Capital Gabriel is a Chartered Financial Analyst and former number one rated analyst. He has extensive experience of regional and pan-sector research both here in the UK and abroad. He was previously the cofounder of Investinet and ExchangeSquare.com, for a time one of the internet’s most trafficked global financial websites. Objective is a leading UK provider of objective corporate research. We offer investors two levels of insight - a regular survey of the complete small and mid-cap segment, highlighting those stocks where attention should be focused, and our detailed institutional-quality, sponsored research coverage. As always, our research doesn't offer trading recommendations or advice but an objective up-to-date assessment of the prospects, and risks, of the companies we cover. While the companies we cover sponsor our research, it is always written on behalf of our readers. It is of the essence of our research that it be independent - that is opinions, estimates and valuations be solely those of Objective's analyst; objective - that is based upon verifiable data; and transparent - that is based upon explicit assumptions. For more about Objective Capital and our services for companies visit our corporate site at Objective Capital |
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