Nortec Minerals Engages Watts Griffis McOuat to Prepare NI 43-101 Compliant Resource Estimate and Technical Report, Lantinen Koi
30 Setembro 2010 - 12:33PM
Marketwired
Nortec Minerals Corp. (TSX VENTURE: NVT)(PINK SHEETS:
NMNZF)(FRANKFURT: WMQ) ("Nortec" or the "Company"), is pleased to
announce the appointment of Watts Griffiis McOuat ("WGM") to
prepare an independent National Instrument 43-101 compliant mineral
resource estimate and Technical Report on the 100% owned Lantinen
Koillismaa PGE+Au-Cu-Ni ("LK") Project located in Northern Finland.
Dr. Markku Iljina, Ph.D., EuroGeol, WGM Senior Associate Geologist
will be the Project Manager for this report. Dr. Iljina will be
assisted by Mr. Cliff Duke, P.Geo, WGM Senior Associate Resource
Geologist, Mr. Ross MacFarlane, P.Eng, WGM Senior Associate
Metallurgical Engineer and Mr. Jerry Roth, MSc. WGM Senior
Associate Geophysicist.
WGM and Dr. Iljina have extensive experience working with the
Koillismaa layered igneous complex, which hosts the LK Project. Dr.
Iljina, through his extensive prior work with Geological Survey of
Finland (GTK) and specifically with this intrusive complex, has an
in depth understanding of its metallogenic relationships.
The LK Project consists of the Kaukua, Lipeavaara and Haukiaho
Zones. Nortec has carried out over 10,000 metres of diamond core
drilling on the Kaukua Zone since 2007 and over 7,000 metres of
historical diamond drilling was performed on the Haukiaho Zone
since the 1960's. Nortec has not carried out any drilling to date
on the Haukiaho Zone. The LK project has a combined surface area of
over 3,200 hectares and covers a PGE+Au-Cu-Ni mineralized Marginal
Series hosted within a sequence of mafic and ultramafic layered
intrusions. Based on the current drilling information, the Kaukua
mineralization is open down-dip and along strike to the west and
south. The Company believes that the LK Project can host several
large - tonnage PGE+Au-Cu-Ni deposits amenable to low cost open pit
methods. Detailed drill results on the Kaukua Zone can be referred
to in the Company's previous press releases. Almost 90% of the 38
holes drilled by Nortec and 10 holes drilled by GTK returned
significant mineralized intercepts.
Some of the significant drill hole results on the Kaukua Zone
include:
-- 35m @ 1.62g/t PGE+Au; 0.10% Cu and 0.17% Ni from 72.0m (Hole Kau08-004)
-- 31.0m @ 2.30g/t PGE+Au; 0.21% Cu, 0.12% Ni from 141.5m), including
5.5 metres @ 6.26g/t PGE+Au, 0.53% Cu, 0.22% Ni (Hole Kau08-013)
-- 65m @ 1.57g/t PGE+Au; 0.18% Cu and 0.10% Ni from 153.0m (Hole Kau08-018)
-- 60.4m @ 1.02g/t PGE+Au; 0.17% Cu and 0.12% Ni from 153.0m including
11.5 metres @ 2.95g/t PGE+Au, 0.35% Cu, 0.19% Ni (HoleKau08-026)
-- 32.95m @ 1.05g/t PGE+Au; 0.17% Cu and 0.13% Ni from 314.05m (Hole Kau08-
035)
-- 52m @ 1.06g/t PGE+Au; 0.15% Cu and 0.11% Ni from 123.0m (Hole Kau09-039)
The Haukiaho Zone is located only 10 kilometres south of the
Kaukua Zone. The Haukiaho claims cover the gabbro- to
pyroxenite-hosted PGE+Au-Cu-Ni mineralisation, initially mapped and
drilled by Outokumpu in the 1960's and subsequently drilled by GTK
in 1998 and 2004, and by North Atlantic Natural Resources between
2000 and 2002. A total of 46 holes have been drilled with over 60%
of the holes intersecting significant PGE+Au-Cu-Ni
mineralization.
Some of the best drill intercepts from the Outokumpu and GTK
drill holes on the Haukiaho Zone include:
-- 58.10m @ 1.27g/t PGE+Au ; 0.30% Cu and 0.20% Ni from 32.20m (GTK Hole
R386)
-- 31.25m @ 1.47g/t PGE+Au ; 0.26% Cu and 0.21% Ni from 78.60m (GTK Hole
R392)
-- 26.00m @ 1.09g/t PGE+Au ; 0.23% Cu and 0.14% Ni from 60.00m (GTK Hole
R395)
-- 26.02m @ 0.73 g/t PGE+Au; 0.26% Cu and 0.16% Ni from 84.98m (Outokumpu
Hole R613)
-- 20.10m @ (PGE+Au not assayed); 0.35% Cu and 0.33% Ni from 17.90m
(Outokumpu Hole R692)
Furthermore, other targets have also been identified within the
LK Project area that could host commercial zones of PGE + Au-Cu -
Ni mineralization similar to Kaukua and Haukiaho zones in both size
and grade. The geology and the modes of mineralization are similar
to Goldfields' Suhanko Project (Arctic Platinum) situated 80 km to
the West - Northwest. Goldfields reported total resources
(measured, indicated and inferred categories) at Suhanko to be 183
million tonnes grading 1.54 grams/tonne PGE+Au, 0.20% Cu and 0.08%
Ni.
Preliminary metallurgical test work on a blended representative
composite of ore types carried out by SGS Minerals Inc. of
Vancouver, BC, concludes that conventional rougher flotation
yielded substantial recoveries of over 80% PGE+Au, associated with
recoveries of over 93% for Cu and 51% for Ni. The recoveries appear
to be somewhat dependent on the host rock composition. Cleaning
this concentrate, again using conventional flotation means,
produced a product assaying 16% Cu+Ni and 60 grams/tonne PGE+Au.
Although this is not yet confirmed, a concentrate of this grade
should be attractive to nickel and PGM smelters, especially given
the low value of 4% Magnesium Oxide (MgO). This also means that the
initially planned PLATSOL™ process for higher recoveries of PGE
metals may now not be required. This will help lower the processing
costs, simplify the project and reduce the technical risk of the
project as a whole. (Nortec press release dated January 13,
2010).
Ian F. Laurent, MSc.(Econ Geol), MAIG RPGeo. is the Qualified
Person responsible for the technical details and contents of this
press release.
In other news, the Company also announces that it has retained
Ibis Consulting Group, LLC. ("Ibis") to act as investor relations
consultants to the Company, limited to European exposure. Ibis has
been engaged for a term of six months for a fee of US$2,500 and the
granting of options to purchase 100,000 shares of Nortec at a price
of $0.13 per share. The relationship can be terminated at any time
by either party with thirty days' notice. The agreement is subject
to the approval of the TSX Venture Exchange.
The Company has granted further stock options to a consultant of
the Company to purchase up to 300,000 common shares in the capital
stock of the Company exercisable for a period of five years at a
price of $0.13 per share.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in
Vancouver, British Columbia with branch offices in Oulu, Finland
and Cuenca, Ecuador. The Company has an option to earn from
Akkerman Exploration B.V., a 100% interest in the
Seinajoki-Kaatiala Gold-Antimony-Rare Earth-Lithium Property in
western Finland.
Nortec has a 100% interest in the Tammela Lithium-Tin-Tantalum
Project in south-west Finland; a minimum 51% interest with an
option to earn 100% interest in the TL Nickel-Copper-Cobalt
Property in Northern Labrador, Canada; and, an option to acquire
51% interest in the Ganarin Gold-Silver Property, Ecuador.
On behalf of the Board of Directors,
NORTEC MINERALS CORP.
Ian F. Laurent, President
This press release contains certain forward looking statements
which involve known and unknown risks, delays and uncertainties not
under the Company's control which may cause actual results,
performances or achievements of the Company to be materially
different from the results, performances or expectations implied by
these forward looking statements. This news release does not
constitute an offer to sell or a solicitation of an offer to buy
any of the securities in the United States.
The TSX Venture Exchange has not reviewed and does not accept
the responsibility for the adequacy or accuracy of this news
release.
Contacts: Nortec Minerals Corp. Ian F. Laurent President +1
604-717-6426 +1 604-683-9649 (FAX) www.nortecminerals.com
Nortec Minerals (TSXV:NVT)
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