NioGold Mining said that it had discovered two new gold zones in the Marban Block area of its Malartic gold property in the Abitibi region of Quebec.
NioGold is a gold exploration company which has massive land holdings in Northern Quebec in the prominent gold mining area, adjacent to 8 currently operational gold mines.
The Malartic project holds NI 43-101 compliant Indicated resources of 600,000 ounces gold in addition to Inferred resources of 360,000 ounces gold. Notable results have been seen from 20 out of the 30 holes that have been drilled on the Marban deposit. 1.2 metres grading 14.05 g/t gold in hole MB-11-232 on the Marban Main zone, and 19.2 g/t gold over 1.2 metres, in hole MB-11-233 have been the most prominent findings.
The results from the first 10 holes were given earlier in the month and this included 1.2 metres grading 179.5 grams per tonne (g/t) gold in hole MB-11-228; 12.6 metres grading 6.1 g/t gold in hole MB-11-242; and in an extension of hole MB-08-053, 10.9 metres at 7.0 g/t gold.
The drilling exploration is part of the 170 -hole drill program that is planned by the NioGold Mining company at the Malartic property. It has drilled a total of 50,253 meters from August 2010 to August 2011. Of these 170 holes, 139 have been on the Marban deposit.