What were the highlights of 2022 for Noble Mineral Exploration?

During 2022, Noble was active in nine projects in areas of Northern Ontario (five properties), as well as more recently acquired sites in Québec (three) and Newfoundland (one), and successfully spun out Canada Nickel to the Noble shareholders.

The most recent projects include the niobium and rare earths Nagagami Carbonatite Complex, our Kidd Creek North VMS project in Kidd and Carnegie Townships, and the copper and PGM Boulder project near Hearst, Ontario. The Nagagami project resulted in a new rare earths discovery. The Kidd Creek North project is a follow up on new theories related to the Kidd Creek mine. The Boulder project is a follow up on the discovery of a boulder that analyzed greater than 70% copper per ton.

In Québec, the company has expanded its reach with the Buckingham graphite project, Cere-Veillebon and Laverlochere nickel projects, and copper and PGM properties. Where are you finding the biggest opportunities for value creation today, and how has Noble gone about deciding between acquiring more properties versus further developing the ones it currently owns?

Consistent with the company’s project generator model, Noble has been specializing in identifying under-explored or unexplored areas, focusing on battery related critical minerals. These minerals are very much in demand especially in areas with reliable supply chains and in politically safe jurisdictions. Which of Noble’s projects do you feel are most de-risked and ripe for acquisition today?

We feel that with the additional sampling of the core in the Nagagami project hole NG-22-02, wherein we have identified a 61.0 m long mineralized zone that has an average grade of 0.554% Total Rare Earth Oxide (TREO) and 0.098% Nd2O3, may be the most de-risked. It is a new discovery and at current market prices for commodities would be the equivalent of 5.2 g/t of gold. To what extent have policy developments in North America helped encourage investment in critical minerals?

Global, federal and provincial policy developments have made the search for battery and critical minerals larger than we have ever seen. We believe that with global developments related to Russia/Ukraine and China/Taiwan, the West has come to realize that it cannot be dependent on governments hostile to the North American way of life to fill its mineral needs. What makes Ontario and Timmins in particular an advantageous region to explore and develop a mine?

Ontario, and Timmins in particular, is a mining friendly jurisdiction with road, rail, high-tension power, ample water, a skilled labor force and a depth of technical expertise. The equivalent in the real estate business as location, location, location. To what extent are new exploration technologies and AI helping to unlock new areas of exploration?

AI and new exploration models are opening up new areas to exploration that have not seen intensive past exploration. Increases in metal prices and supply chain problems have also increased demand for most metals. What are some of the key lessons you have learned over the years in developing Noble’s business model? Why is this model well suited for the current market conditions?

If you were to review the spin out from Noble of Canada Nickel to the Noble shareholders, wherein the shareholders will benefit directly as Canada Nickel advances the Crawford Ni/Co/PGM deposit, you would note how the project generator model has worked. The Crawford project is currently in the feasibility phase due out in Q2, 2023.

I feel the generator model works as it takes out the early stage risk through data collection and compilation combined with airborne or ground surveys to identify follow up drill targets that have the potential to bring in partners.