Top

Nippon Dragon Resources Inc.

TSXV Exchange | May 26, 2020, 8:18 PM EDT | Real-time price

NIP $ 0.04 RT
CHANGE
0.005 (14.286%)
VOLUME
30,000
Day Low: 0.035
Day High: 0.04
 Back
Nippon Provides Progress Report at its Rocmec 1 Gold Mine

(via TheNewswire)



Brossard (Quebec) - TheNewswire - April 28th, 2020 - Nippon Dragon Resources Inc. ("Nippon" or "NDR") (TSXV:NIP) (OTC:RCCMF), is pleased to provide a progress report as it moves forward with the development of the Rocmec 1 gold mine.

Highlights include:

  • --Access to levels 90 -110 and 130 m below surface has enabled the delineation and planning of several blocks of mineralised rock, resulting in the availability of 35,000 to 45,000 tonnes from these levels for development work;

  • --Over 400 linear meters of the McDowell structure are now accessible on four levels;

  • --Goldminds Geoservices Inc. prepared a geological report on the Boucher structure stating an additional potential tonnage target (*) of 400Kt to 500Kt at a grade between 7 g/t to 15 g/t Au can be expected for a metal content.. The report is a complement to the existing NI43-101 compliant Technical Report on the Rocmec 1 property (SGS May 13th 2010).

Click on the link to view the report http://www.nippondragon.com/images/Memo_Boucher2020_0407.pdf

Additional points of interest:

Discussions with companies offering custom milling services located in the surrounding region are ongoing.

The company is actively seeking a joint-venture partner to participate in the exploration, development and exploitation of the Boucher structure.

``The Covid19 restrictions caused delays in our program, however the restrictions have now been lifted and operations are gradually returning to normal with social distancing and hygienic measures. The newly published report on the Boucher structure at depth strengthens our belief that the structure has the potential to significantly enhance the value of the Rocmec 1 property`` stated Donald Brisebois, President & CEO of Nippon.

Rocmec 1 project

The Rocmec 1 project is located in the Dasserat Township, Province of Quebec on the shores of the Labyrinthe Lake. It is approximately 35 kilometres west of the town of Rouyn-Noranda and is easily accessible from Route 117 and the frontier gravel road separating Quebec and Ontario and a secondary gravel road to the site. The property was acquired in October 2005, dewatering and rehabilitation of the mine commenced in January 2006. To date, Nippon Dragon has invested approximately $33,000,000 in rehabilitating the property, surface and underground infrastructure, diamond drilling, equipment and drifting. The property includes a 100m deep two compartment shaft, an 844 metre decline allowing access to five levels (50, 70, 90,110 and 130 metres). On these levels a total of 1700 metres (drifts and cross-cut drifts) were driven. The Rocmec 1 mineralized bodies are well defined by diamond drill holes. The 2010 NI 43-101 report by SGS using a cut-off grade of 3 g/t Au reports a Measured and Indicated mineral resources of 570,300 tonnes grading 6.52 g/t (119 500 oz.) and 1,512,400 tonnes Inferred at 7.4 g/t Au (359 600 oz.).

*Cautionary statement: Potential Target are not mineral resources as additional exploratory works are required to bring the information to the mineral resource level of confidence.

About Nippon

Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation holds two gold properties, Rocmec 1 with resources recognised in accordance with NI43-101 and the Denain property. Nippon also has an exclusive license for the Thermal Fragmentation mining process.

Qualified Person

Claude Duplessis Eng. Of GoldMinds has reviewed the content of this press release.

Le present communique est disponible en francais site web de Ressources Nippon Dragon

The company's growth strategy is based on:

  • - The development of its gold deposits with the objective of producing revenue from its operations;

    - Increasing the value of its mining assets by prioritizing the exploration targets; and

    - The commercialisation and employment of its thermal fragmentation technology.

For additional information:

John Stella, Investor relations (514) 718-7976 jstella@nippondragon.com

Donald Brisebois, President & CEO (450) 510-4442 dbrisebois@nippondragon.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7

Tel: (450) 510-4442 www.nippondragon.com

Copyright (c) 2020 TheNewswire - All rights reserved.

Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. View delay times for all exchanges. Market Data powered by QuoteMedia. See the QuoteMedia Terms of Use.