The following is a transcription of the above video, and The Market Herald Canada has edited it for clarity.
Our next company is Noble Mineral Exploration Inc. (TSXV:NOB), a Canadian-based junior exploration company, which has exploration and development interests in Northern Ontario, Quebec and Newfoundland that are drill ready.
Joining us today is CEO Vance White, who is here to talk about the company and its recent projects. Hello and welcome!
TMH: For members of our audience who may not be aware, can you please provide some background about Noble Mineral Exploration?
White: Noble Mineral Exploration basically formed as a result of the acquisition from AbitibiBowater of a very large track of land immediately north of the world-famous Kidd Creek Mine, just outside of Timmins (Ontario). When we acquired it from AbiBow, we had the support of Franklin Nevada who provided some of the funding. AbiBow took back some convertible debentures, and of course there was a bunch of cash that was put up as well. But what we acquired from AbiBow were the surface rights, timber rights and mineral rights.
Our interest was primarily in the mineral rights, although we had a contractor look after the timber rights for us while the markets were very, very – well, they were non-existent really – for junior companies. And for two years, we were able to harvest the timber, basically keep our lights on, doors open.
But subsequently the markets improved and we started off with the idea of becoming a project generator wherein we would farm out the early stage exploration basically to de-risk certain of the areas, and by the way, the AbitibiBowater tract of land was in an unexplored and or underexplored area north of Timmins that stretched up to Cochrane, Ontario.
The project generator model is basically focused on today’s space of critical and battery minerals and it’s in this regard that we carried out the initial stages of exploration in order to dress up the properties in order to bring in partners.
TMH: You’ve had incredible success with project spinouts such as Canada Nickel. What other projects do you have in your portfolio that investors should be aware of that might currently be under the radar?
White: The Canada Nickel was spun out to our shareholders; I guess we spun out about 13.5 million shares to the Noble shareholders. And that was such that the Noble shareholders could benefit directly into the programs that Canada Nickel was carrying out, not only on the Crawford but also onto the various satellite projects that they either optioned from us or they acquired on their own.
We feel that there are probably going to be additional spinouts that’ll be coming down the road, but they haven’t been firmed up as yet, but they’re in the process of pulling a couple of things together.
The other one that you’ve got to keep an eye on is a major holding that we have in Spruce Ridge Resources wherein they have farmed out their Great Burnt copper project in Newfoundland to Benton Resources who have had some really spectacular success over the last little bit. And that’ll become a 70/30 joint venture with Spruce, where Spruce in of itself is taking on a very large tract of land in Oregon with a lateritic nickel deposit that’s already had an NI 43-101 report prepared on it. Very shallow, basically right on surface and potentially very, very large deposit.
TMH: Moving to some of the company’s recent exploration activity. Can you tell us about the recent projects that Noble Mineral has undertaken?
White: Currently, we’re carrying out a drill program just north of the Kidd Mine in Carnegie Township. We’ve got four holes drilled to date. We’re waiting on the results and as we get the results, we will release them. But it’s anticipated to be probably a 7-8 hole program targeting four separate areas that have been reviewed by our geological consultants and exploration manager to the extent that they’ve taken all of the data, compiled it, all of the airborne that we’ve done, all of the gravity that we’ve done and identified four separate target areas that we’re currently undertaking with the drill program.
TMH: What are some of the exploration projects targeted for later this year?
White: We’ll complete this program on the Carnegie Kidd project. We intend to follow up on an IP survey that we just completed on the Boulder Project, which is up near Hurst, Ontario.
And that’s spectacular, it could be a lottery ticket basically when it comes right down to it. In that we’re looking for the source of the boulder that was discovered a number of years ago, which graded in excess of 70 per cent copper, such that if you ever did find the source of that boulder, it would be a spectacular mineral find.
But this is looking for a needle on the haystack. As I said, if we were successful in finding it, it would be like a lottery ticket.
TMH: In terms of investment value, where do you see the company headed over the next year or so?
White: I think that’s going to be dependent on two things, one of which could be the success in the field, the other, the (progress) that will be made on the front of Canada Nickel where we have just under a 3 million share position, and or on the rollout of the Spruce where we have a 19-and-a-half-million share position. Either one of those two projects could very likely go the full route and I think they’ll see market revaluations in the very near term.
You can find Noble Mineral Exploration Inc. on the TSX.V under the symbol NOB or head to its website at Noble Mineral for more information.
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