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Share Name | Share Symbol | Market | Type |
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Trivalence Mining (Tier1) | TSXV:TMI | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Nortec Ventures Corp. (TSX VENTURE:NVT), ("Nortec" or the "Company"), is pleased to announce that the recent summer drill program at Tasisuak Lake in Labrador has encountered significant Nickel (Ni), Copper (Cu), Cobalt (Co) mineralization highlighted as follows: - 14 metres of 1.02% Ni, 0.51% Cu, 0.03% Co (Hole 08-AA-60) - 9 metres of 1.02% Ni, 0.55% Cu, 0.04% Co (Hole 08-LP-55) - 3 metres of 1.04% Ni, 0.38 Cu, 0.03% Co (Hole 08-LP-56) - 3 metres of 1.01% Ni, 0.39% Cu, 0.04% Co (Hole 08-AA-62) The drill program consisted of 1960 metres of diamond coring over 18 holes. The program was designed to test a variety of surface showings and VTEM geophysical anomalies. The Property consists of 219 contiguous claims, contained in four Exploration Licenses, covering 5,475 hectares. In March 2003 Nortec optioned the TL Property from Vulcan Minerals Inc. ("Vulcan") of Saint John's, Newfoundland. Nortec can earn up to a 51% interest in the TL Property by incurring exploration expenditures of $1.5 million by March 17, 2009. 2008 Drill Locations ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Easting Northing Total (m) (m) Elevation Azimuth Dip Depth Hole_ID Prospect NAD27_z20 NAD27_z20 (m) (degrees)(degrees) (m) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 08-LP-55 Long Pond 512372 6270033 484 105 -50 137.2 ---------------------------------------------------------------------------- 08-LP-56 Long Pond 512372 6270033 484 130 -80 107.84 ---------------------------------------------------------------------------- 08-LP-57 Long Pond 512413 6270013 476 320 -80 156.6 ---------------------------------------------------------------------------- 08-AA-58 All About-it 512310 6270400 508 108 -50 39.63 ---------------------------------------------------------------------------- 08-AA-59 All About-it 512310 6270400 508 108 -80 28.05 ---------------------------------------------------------------------------- 08-AA-60 All About-it 512266 6270635 534 140 -50 118.9 ---------------------------------------------------------------------------- 08-AA-61 All About-it 512266 6270635 534 140 -80 86.57 ---------------------------------------------------------------------------- 08-AA-62 All About-it 512283 6270628 533 320 -45 64.02 ---------------------------------------------------------------------------- 08-BZ-63 B-Zone 512550 6271400 500 80 -85 287.15 ---------------------------------------------------------------------------- 08-NB-64 No Baccy 512233 6270947 542 75 -45 79.9 ---------------------------------------------------------------------------- 08-NB-65 No Baccy 512250 6270952 544 255 -60 51.21 ---------------------------------------------------------------------------- 08-NB-66 No Baccy 512251 6270920 540 80 -45 100.5 ---------------------------------------------------------------------------- 08-BZ-67 B-Zone 512752 6270667 502 270 -60 140.24 ---------------------------------------------------------------------------- 08-BZ-68 B-Zone 512883 6269979 493 270 -75 115.85 ---------------------------------------------------------------------------- 08-BZ-69 B-Zone 512921 6269998 491 260 -45 82.32 ---------------------------------------------------------------------------- 08-FZ-70 F-Zone 513355 6268989 496 270 -60 109.76 ---------------------------------------------------------------------------- 08-AZ-71 A-Zone 513639 6269988 515 270 -60 118.9 ---------------------------------------------------------------------------- 08-BZ-72 B-Zone 512497 6271773 470 350 -80 136.28 ---------------------------------------------------------------------------- Generally, the holes testing geological targets along the C-zone (holes 56-66, except 63) proved to contain the best mineralization with disseminated to semi-massive sulphide textures, as follows: 2008 Drill Results ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Platinum, Palladium+ From To Interval Nickel Copper Cobalt Gold Hole_ID (m) (m) (m) % % % g/t ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 08-LP-55 7 21 14 0.80 0.85 0.03 0.36 ---------------------------------------------------------------------------- Incl. 10 19 9 1.02 0.55 0.04 0.40 ---------------------------------------------------------------------------- incl. 7 13 6 1.02 1.59 0.05 0.30 ---------------------------------------------------------------------------- WITH 7 8 1 0.55 4.02 0.03 0.30 ---------------------------------------------------------------------------- 08-LP-56 8 25 17 0.41 0.15 0.02 0.16 ---------------------------------------------------------------------------- incl. 8 14 6 0.69 0.24 0.02 0.21 ---------------------------------------------------------------------------- incl. 9 12 3 1.04 0.38 0.03 0.28 ---------------------------------------------------------------------------- 08-LP-57 NSI ---------------------------------------------------------------------------- 08-AA-58 8 13 5 0.11 0.05 0.07 0.05 ---------------------------------------------------------------------------- 08-AA-59 NSI ---------------------------------------------------------------------------- 08-AA-60 3 42 39 0.57 0.28 0.02 0.25 ---------------------------------------------------------------------------- incl. 6 20 14 1.02 0.51 0.03 0.35 ---------------------------------------------------------------------------- WITH 13 14 1 2.15 0.38 0.05 0.36 ---------------------------------------------------------------------------- 08-AA-61 2 31 29 0.42 0.21 0.02 0.15 ---------------------------------------------------------------------------- incl. 5 6 1 1.62 0.66 0.05 0.35 ---------------------------------------------------------------------------- incl. 8 10 2 1.23 0.34 0.04 0.41 ---------------------------------------------------------------------------- 08-AA-62 5.5 41.5 36 0.42 0.19 0.02 0.19 ---------------------------------------------------------------------------- incl. 7.5 10.5 3 1.01 0.39 0.04 0.63 ---------------------------------------------------------------------------- incl. 11.5 13.5 2 1.09 0.25 0.06 0.53 ---------------------------------------------------------------------------- 08-NB-64 5.50 11.5 6 0.75 0.22 0.02 0.32 ---------------------------------------------------------------------------- incl. 5.50 7.5 2 1.47 0.28 0.03 0.46 ---------------------------------------------------------------------------- 08-NB-65 7.70 8.7 1 1.21 1.04 0.03 0.03 ---------------------------------------------------------------------------- 08-NB-66 15.25 16.25 1 0.29 0.07 0.01 0.08 ---------------------------------------------------------------------------- Drill holes 63, 67-72 tested a series of VTEM Anomalies in the B, F and A zones and did not encounter any significant nickel-copper mineralization. However, three of the holes did encounter a massive pyrrhotite zone up to 3 meters in thickness with gold enrichment of 1 gram/tonne over 2 metres in hole 68. As well, some zones of anomalous platinum (Pt) and palladium (Pd) were encountered. Hole 63 encountered the thickest gabbroic body over 69.4 metres though no significant mineralization was encountered. All core samples were cut in half in the field by diamond saw, packaged and sealed in the field and shipped to Accurassay Laboratories receiving facility in Gambo South, NL where they were prepared and forwarded to the main lab in Thunder Bay, ON. One half of the core samples are preserved for further analysis. Samples were tested for 30 elements (including base metals) with an ICP (Inductively Coupled Plasma) process. Samples exceeding detection limits were processed for ore grade analysis with an AA (Atomic Absorption) process. All samples were also analyzed for Au, Pt and Pd with a fire assay process. QA/QC was maintained by the laboratory by running duplicates and repeats, and also with blind duplicates inserted into the sample stream directly from the field. The Tasisuak Lake property is situated approximately 50 kilometres northwest of the world class Voisey Bay nickel-copper-cobalt mine. The property covers significant outcrops of Tasiuyak gneisses hosting mafic intrusions which contain the nickel-copper mineralization. The genesis and style of mineralization remains unexplained in the context of the regional setting and timing of emplacement. The Company plans to carry out geochemical and petrographic analysis of the mineralization and host rocks to answer these questions and assist in further exploration of the property. The property contains many untested geophysical anomalies and surface showings. The C-zone mineralization remains open in a north-south direction in excess of 5 kilometers based on its geophysical signature. The Company is encouraged by these drill results and notes that they are some of the highest grade over width nickel-copper intersections drilled in Labrador outside of Voisey's Bay. Kingurutik Property As part of the recently signed agreement between Nortec and Vulcan, Nortec commissioned Geotech Ltd. ("Geotech") to carry out a 417 line-km helicopter-borne geophysical survey for Nortec over the Kingurutik River Property, 70km north of the Tasisuak Lake property. The airborne geophysics consisted of a versatile time domain electromagnetic ("VTEM") survey and total magnetic intensity ("TMI") using a cesium magnetometer. There are 5 main anomalies identified from the geophysical survey. Three of these anomalies are located in the north central part of the claim and have E-W trending conductors with coincident magnetic highs possibly related to metallic mineralization in the form of mixed magnetite and pyrrhotite dominated sulphides. As part of a first pass exploration drill program, 3 holes were drilled for a total of 321metres. The holes targeted the potential near-surface mineralization and coincident geophysical anomaly on Prospect A. Drillhole Collar co-ordinates on the Kingurutik River Property ---------------------------------------------------------------------------- Easting Northing Total (m) (m) Elevation Azimuth Dip Depth Hole_ID Prospect NAD27_z20 NAD27_z20 (m) (degrees)(degrees) (m) ---------------------------------------------------------------------------- 08-KG-01 A 504162 6317813 555 270 45 121 ---------------------------------------------------------------------------- 08-KG-02 A 504010 6318762 480 320 45 100 ---------------------------------------------------------------------------- 08-KG-03 A 504300 6318912 391 320 45 100 ---------------------------------------------------------------------------- All core samples were cut in half by diamond saw, packaged and sealed in the field before being shipped to Accurassay Laboratories receiving facility in Gambo South, NL where they were prepared and forwarded to the main lab in Thunder Bay, ON. Samples were tested for 30 elements (including base metals) with an ICP (Inductively Coupled Plasma) process. Samples exceeding detection limits were processed for ore grade analysis with an AA (Atomic Absorption) process. All samples were also analyzed for Au, Pt and Pd with a fire assay process. QA/QC was maintained by the laboratory by running duplicates and repeats, and also with blind duplicates inserted into the sample stream directly from the field. No significant nickel-copper mineralization was encountered. Geological and geophysical interpretation of the Kingurutik River Property is ongoing with the aim of delineating future drill targets. To view a map of the Tasisuak Lake project, click the following link: http://media3.marketwire.com/docs/nvtmap.jpg. Further information on the TL and Kingurutik River Properties is available on Nortec's website at www.nortecventures.com. Mohan R. Vulimiri, M.Sc, P.Geo., President, CEO and Director of Nortec; and, Ian Laurent MEconGeol MAIG RPGeo, Vice President - Exploration for Nortec, are the persons responsible for initiating and guiding the work programs on the TL and Kingurutik Project. Mohan Vulimiri is the Qualified Person responsible for the contents of this press release. On behalf of the Board of Directors, NORTEC VENTURES CORP. Mohan R. Vulimiri, President & CEO The statements made in this Press Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. This press release does not constitute an offer to sell, or a solicitation of an offer to sell, any of the foregoing securities in the United States. None of the foregoing securities have been and, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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