Noveder drills Cabot

Noveder (NED-M) has intersected more copper-cobalt mineralization at its Cabot property in Newfoundland’s Baie Verte region.

Within most holes, Noveder has delineated two zones of sulphide mineralization. Zone 1, which is 18 metres thick, consists of a finely bedded iron formation with magnetite, pyrite and minor chalcopyrite. Zone 2, which reaches a thickness of 26 metres, consists of sulphide stringers within a strongly chloritized and locally silicified mafic metavolcanic unit, with sulphides occurring as pyrite, pyrrhotite and chalcopyrite.

Highlights from the most recent holes are:

* hole 5 — 18.6 metres (from 54 metres) grading 0.2% copper and 0.021% cobalt in zone 1, and 8.5 metres (from 76 metres) of 0.25% copper and 0.011% cobalt in zone 2;

* hole 6 — 10.2 metres (from 107 metres) of 0.22% copper and 0.013% cobalt in zone 1, and 12.9 metres (from 135.1 metres) of 0.37% copper and 0.014% cobalt in zone 2;

* hole 7 — 2.8 metres (from 73 metres) of 1.9% copper and 0.02% cobalt in the upper portion of zone 2;

* hole 8 — 3.6 metres (from 128 metres) of 1.33% copper and 0.02% cobalt in the upper portion of zone 2, and 7.4 metres (from 190 metres) of 0.44% copper and 0.02% cobalt in the lower portion of zone 2;

* hole 9 — 18.3 metres (from 162 metres) of 0.19% copper and 0.01% cobalt in zone 1, and 25.8 metres (from 210 metres) of 0.44% copper and 0.02% cobalt in zone 2; and

* hole 10 — 5 metres (from 368 metres) of 0.15% copper and 0.01% cobalt in zone 1, and 28.9 metres (from 378 metres) of 0.40% copper and 0.01% cobalt in zone 2.

The deposit, which remains open in all directions, has been traced laterally for 450 metres and at depth for 200 metres. The company considers the geological environment at Cabot to be comparable to a Besshi type of volcanogenic-massive-sulphide deposit.

In other news, Noveder is releasing results from deep drilling at its Abitibi property near Val d’Or, Que. with the following highlights: 1.1 metres (from 482 metres) grading 1.27 grams gold and 0.16% copper in hole 22; 0.9 metre (from 438 metres) of 23.75 grams gold and 0.55% copper in hole 23; and 1 metre (from 446 metres) of 15.6 grams gold and 0.42% copper, as well as 1.1 metres (from 522 metres) of 7.55 grams gold and 0.52% copper, in a second zone in hole 1.