Loading, Please Wait...
GATINEAU, QUEBEC--(Marketwired - Jan 8, 2016) - In 2015, Nouveau Monde Mining Enterprises Inc. ("Nouveau Monde" or the "Corporation") (TSX VENTURE:NOU)(OTC PINK:NMGRF)(FRANKFURT:NM9) has achieved an important milestone with the publication of a first Mineral Resource Estimate over one of its fully owned projects. Following the discovery of graphite (or "Cg") mineralization during the summer of 2014 on the Tony claim Block, part of the Matawinie Property, Nouveau Monde has since then successfully performed an airborne geophysical survey, prospecting, ground PhiSpy surveying, the excavation of 9 trenches, and 10 479 m of core drilling. The work culminated in a Mineral Resource Estimate for the South-West and South-East zones, completed in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") guidelines, of 26.3 Mt grading 3.73 % Cg in the Indicated category and of 19.2 Mt grading 3.67 % Cg in the Inferred category (see press release dated December 15, 2015).
Moreover, Nouveau Monde continued its metallurgical testing of the mineralized zones on the Tony Block. Eric Desaulniers, P.Geo, President & CEO of Nouveau Monde stated: "The preliminary metallurgy results show excellent Cg purity levels and large flake distribution (see press release date October 22, 2015). This, combined with the exceptional proximity to infrastructure and ready access to low cost hydro-electricity, add to the robustness of the project. Nouveau Monde feels confident that it will be able to produce high-value graphite concentrates, as well as value-added graphite products while being cost competitive and having a minimal environmental impact."
Although Nouveau Monde mostly concentrated its efforts on its Matawinie project in 2015, a short five day prospecting program was carried out on its Rivière-au-Castor Property. Financed through the SIDEX 'Action-Terrain' program, it resulted in the discovery of a mineralized quartz vein which returned a grade 2.68 g/t Au from a grab sample.
In 2016, Nouveau Monde intends to continue focusing on its Matawinie graphite project while pursuing compilation and exploration work elsewhere in the province of Quebec.
The main objectives for 2016 are listed below:
Nouveau Monde announces the nomination of Ms. Nathalie Jodoin to its Board of Directors. Ms. Jodoin specializes in the drafting and prosecution of patent applications and the providing of patentability, validity, infringement and freedom to operate opinions in the fields of chemical, mechanical, physical and electrochemical metallurgy, material science, chemical process and water treatment. She is particularly experienced in strategic IP planning and worldwide patent prosecution. Ms. Jodoin is a partner with Robic LLP, an internationally renowned Intellectual Property law firm specializing in Intellectual Property and Business law. Robic LLP is located in Québec, Canada with an office in Montreal and another one in the city of Quebec. Ms Jodoin's clients are medium and large-size companies which are involved in the various technical fields mentioned above. Ms. Jodoin was awarded a Bachelor in Metallurgical Engineering, Material science from École Polytechnique de Montréal in 1985 and a Bachelor in Civil Law (LL.B) from Université de Montréal in 1989. She is a Member of the Ordre des ingénieurs du Québec, and was called to the Québec Bar in 1990. She is also a registered patent agent in Canada and in the US since 1997.
Eric Desaulniers, P.Geo, President & CEO of Nouveau Monde stated: "We are very pleased to add Ms. Nathalie Jodoin to our team. Her nomination reflects the evolution of the Corporation which is entering a new phase of project development. Her expertise in metallurgy and her knowledge in Intellectual Property laws will be of great value to Nouveau Monde which aims at bringing its Matawinie Project towards the exploitation stage."
GRANT OF OPTIONS
The Corporation announces the grant of 1M options to directors and officers of the Corporation. Each option shall entitle its holder thereof to subscribe for one common share of the Corporation, at a price of $0.20 per common share, for a period of five years from the date of grant. These options will vest one quarter at issuance and by period of three months until September 7, 2016. These options were granted in accordance with the terms of the current stock option plan of the Corporation.
ISSUANCE OF SHARES FOR SERVICES
The Corporation reports that it has received TSX Venture Exchange approval to issue common shares in consideration for services rendered pursuant to a consultant and services agreement entered into between the Corporation and Matrix Advisors, LLC ("Matrix"), an arm's length party, on November 23, 2015 (the "Service Agreement").
Matrix has rendered the services provided for in the Service Agreement during the first quarter (Oct 1st 2015 to Jan 1st 2016) and the Corporation has issued 250,000 common shares to Matrix at a deemed price of $0.20 per common share.
All common shares issued in connection with the Service Agreement will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws.
The press release was reviewed by Eric Desaulniers, M.Sc., P.Geo., President and CEO of Nouveau Monde, a Qualified Person under National Instrument 43-101 guidelines.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) has in any way passed upon the merits of the proposed transaction or approved or disapproved the contents of this press release.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those anticipated by such statements. Nouveau Monde will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Nouveau Monde.
Eric Desaulniers, M.Sc., P.Geo.
President and Chief Executive Officer of Nouveau Monde