Noble Mineral Exploration Inc. has signed a drill contract for its Thomas Rare Earth property near Timmins, Ontario, targeting an untested magnetic feature that resembles a classic carbonatite structure. Carbonatites are carbonate-rich igneous rocks that serve as the world's primary source of rare earth elements (REE), niobium, zirconium, and phosphate oxide. The company's research identified a donut-shaped magnetic signature with a high surrounding an extreme low, typical of carbonatites, where the magnetic low may host economic mineralization.
The magnetic structure has never been drilled and does not outcrop on surface, according to the company. In 2023, Noble completed a magnetometer and VLF-EM survey to pinpoint the magnetic low and overburden depth, paving the way for the upcoming drilling phase. Phase 2 will involve drilling into the magnetic low to confirm the presence of a carbonatite and test for mineralization. Carbonatites often form intrusive features like cone sheets, dykes, or veins, but their carbonate minerals weather easily, making surface exposures rare.
Noble has been awarded an Ontario Junior Exploration Program (OJEP) grant from the Ontario government, providing a 50% rebate on exploration programs up to $200,000 on a $400,000 program in Ontario. Vance White, President and CEO of Noble, stated, "We are pleased to start up a drill program on this exciting untested project in light of the geopolitical interest in finding new sources of Rare Earth Elements. We also appreciate the assistance Ontario's OJEP." The grant supports exploration amid growing demand for rare earth elements, critical for technologies like electronics and renewable energy.
Wayne Holmstead P.Geo., a qualified person under National Instrument 43-101, verified the data and approved the technical information. The project aligns with broader efforts to secure domestic rare earth supplies, reducing reliance on international sources. For more information, visit https://www.noblemineralexploration.com. The company's common shares trade on the TSX Venture Exchange under the symbol "NOB." This drilling initiative could mark a significant step in evaluating Ontario's mineral potential, with implications for regional economic development and resource security.
