Noble Mineral Exploration Inc. Advances Carbon Sequestration Modelling, Provides Kingsmill Nickel Metallurgical Update on Project 81
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
Noble Mineral Exploration Inc. Advances Carbon Sequestration Modelling, Provides Kingsmill Nickel Metallurgical Update on Project 81
Toronto, Ontario – August 22, 2012, Noble Mineral Exploration Inc. (the "Company") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) is pleased to announce that it has engaged Mikro-Tek of Timmins to advance the Carbon Sequestration/Credit modelling on its private, forested 60,701 hectares Project 81.
Project 81, is located within the Northern Ontario Boreal Biome and globally, the boreal biome is the world’s largest and most important forest carbon storehouse holding almost twice as much carbon per unit area as tropical forests. Canada’s boreal forest stores about 71.4 billion tonnes of carbon in its forest ecosystems and 136.7 billion tonnes in peatland ecosystems.
When Canada signed the Copenhagen Accord in December 2009, it committed to reduce its greenhouse gas (GHG) emissions to 17% below 2005 levels by 2020, establishing an annual reduction target of 607 Mega-tonnes (Mt), and mirroring the reduction targets set by the United States.
To meet these targets, Canada is moving toward regulating GHGs on a sector-by-sector basis, aligning with the U.S where appropriate, starting with the transportation and electricity sectors – two of the largest sources of Canadian emissions. Plans are now in place to move forward with regulating other key economic sectors including Large Final Emitters (LFEs) defined in Ontario as any industry emitting more than 25,000 tCO2 annually, which includes the oil and gas, mining and mineral refining sectors.
- Project 81 is approximately 60,701 hectares private forested area and tree portion of intact boreal forest stores on average 177 tonnes of carbon per hectare (or converted to carbon dioxide, 650 tCO2/ha.);
- Private forested areas are increasingly becoming very attractive greenhouse gas crediting areas because of their management protocol, efficiency and the potential to deliver sustainable co-benefits;
- The current price for forestry based carbon credits in the voluntary carbon market is $US 5.60/t CO2 and this is expected to increase substantially once the regulations and audits that are currently underway are completed, and compliance reduction targets are set for the LFEs.
ABOUT MIKRO-TEK INC.:
Mikro-Tek is a carbon project developer and supplier of registered carbon offset credits generated in forestry projects. The company was incorporated in 1983 and was the first Canadian company to register a forestry carbon project with the United Nations under the Clean Development Mechanism of the Kyoto Protocol.
Vance White, CEO and President, said “that during the difficult financial market conditions for junior resource companies the Company will continue to review all of its assets in order for them to be monetized. Those assets include carbon sequestration credits, timber rights, recreational real estate lands, and the potential for joint venture participations.”
KINGSMILL NICKEL TARGET: Metallurgical Testing
The company received preliminary metallurgical results from G&T Metallurgical Services of Kamloops, B.C, a division of ALS Global Metallurgy, and is awaiting final reports from its Metallurgical Consultant Dr. Gordon Bacon. Preliminary results indicate that although the head grade from the 400kg composite sample was 0.28% Ni, 6% of this Ni was recoverable awaruite, 6% recoverable millerite and pentlandite and 4% magnetite, the remainder appears to be locked up in the olivine/serpentine lattice structure.
About Project 81:
Project 81, the Company’s flagship project, is a 72,218 hectare patented and staked land package divided into 2 blocks. The patents include surface, mineral and timber rights, and host a significant timber resource plus a number of zones that have historical exploration identifying nickel and gold mineralization (these sample results are historical and non 43-101 compliant) from work carried out in the 1960’s and 1970’s, which have been confirmed by recent assay results from the current, ongoing drill program.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 72,000 hectares of property in the Timmins, Iroquois Falls and Smooth Rock Falls areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration and drilling for, Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan.
Randy Singh P.Geo (ON), P.Eng (ON) VP- Exploration & Project Development a "qualified person" as such term defined by National Instrument 43-101 has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble. All field activities are under the supervision of Mr Singh.
More detailed information is available on the website at www.noblemineralexploration.com
Cautionary Statement:
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Noble Mineral Exploration Inc.
H. Vance White, President Phone: 416-214-2250 Fax: 416-367-1954 eMail: [email protected]
Investor Relations Phone: 416-214-2250 eMail: [email protected]