TOMBOKO PROJECT

Guinea, West Africa

The Tomboko Permit totals more than 75 square kilometres and is located immediately west of, and is surrounded by Anglo-Ashanti’s SAG multi-million ounce gold mine and related land holdings. Extensive bedrock (rock geochemical sampling), soil, termite mound and pit sampling (over 10,000 samples) plus detailed geological mapping delineated three targets for immediate follow up drilling, Tom-1, Tom-2 and Tom-3.

Termite mound sampling resulted in high gold values of 7.1 g/t, 3.5 g/t, 2.7 g/t 2.3 g/t, 2.2 g/t, 1.8 g/t, 1.7 g/t, 1.6 g/t, 1.5 g/t, 1.4 g/t, 1.2 g/t and 1.1 g/t. Geochemical soil anomalies were delineated over several kilometres on all three targets that were over 100 ppb gold and some with greater than 600 ppb gold. Rock geochemical bedrock sampling, consisting of 65 samples, on the Tom-1 Zone-North prospect returned high grade gold values of 84.6 g/t, 35.8 g/t, 13.9 g/t, 5.8 g/t, 4.7 g/t and 2.5 g/t. The objective of the rock geochemical sampling was to test various rock types that are associated with the NW-trending termite gold anomalies. Over 9,779 termite mound samples and 212 bedrock samples were collected and analysed for gold.

The gold mineralization on the Tom-1 and Tom-2 targets appears to be hosted in highly altered, sheared, brecciated sandstone and volcanic rocks of the early Paleoproterozoic age Siguiri Basin. The SAG Mine is also hosted in the same age rocks. The TOM 3 Prospect is hosted in quartz porphyry intrusive rocks. The mode of occurrence of the gold mineralization is similar to the Koulékoun deposit owned by Avocet Mining, located 120 kilometres to the south; a resource of indicated 31.5 mtonnes at 1.38g/t Au (1.4 million ounces) and inferred 22.8 mtonnes of 1.22g/t Au (892,200 ounces), (re: http://www.avocetmining.com/guinea).

“Nortec undertook a first pass Diamond and RAB drill programs on these three Prospects in September 2017.  At TOM-1 North Target gold mineralization was intercepted (24m@3.7g/t(including 4m@10.1g/t) and 19m@2.7g/t) over the NW-striking sinistral brittle-ductile fracture systems. At TOM-2, RAB drilling over the NE-striking brittle-ductile dextral strike-slip fault systems intercepted 39m@0.7g/t (including 9m@1.1g/t) and 18m@0.5g/t.

Detailed geological mapping confirmed a strike length of 2.5 km and a true width of 24m at 3.6g/T Au on the main TOM-1 North Target.  High gold grade in grab samples from rock outcrops north of the main showing  include 34.8g/t, 13.1g/t, 12.8g/t, 8.87g/t, 6.8g/t, 6.2g/t, 4.1g/t, 3.8g/t and 3.8g/t.  Termite mound samples range from trace to 3,159 ppb or 3.16g/T Au.”

Download Report for NI 43-101

Rock sample types and assay results (Tom-1 North):

 

Figure showing TOM-1 North rock sample results on soil geochemistry results.

 

 

Figure shows the location of TOM-3 prospect in the Tomboko Project.

 

Figure shows the soil sample results in the area of the TOM-3 prospect.

Images show the various rocks mapped in the intrusive contact zone at the TOM-3 prospect.

LOI Agreement

Nortec is earning an 80% participating interest in the Tomboko Project.

Nortec earned over 61% interest in the Tomboko project by incurring over $1.5 million exploration expenditures as required by the work programs.

Phase 1 – 25% earned interest (expenditures by July 1, 2017)
Drilling of 2,500 metres (RC)

including support costs and assays

$        300,000
Evaluation of data $         25,000
Technical Report $         75,000
Contingency $      100,000
Total $      500,000
25% Interest earned by Nortec upon completion of Phase 1
Phase 2 – 26% earned interest (expenditures by July 1, 2018)
Drilling of 2,500 metres

including support costs and assays

$      300,000
Evaluation of data including metallurgical test work $         50,000
Technical Report $         75,000
Contingency $         75,000
Total $      500,000
Total 51% interest earned upon completion of Phases 1 and 2
Phase 3+4 – 29% earned interest (expenditures by December, 2021)
Drilling of 10,000 to 15,000 metres

including support costs and assays

$   1,500,000
Evaluation of data $      100,000
Pre-feasibility and/or Feasiblity Technical Report $      200,000
Regional exploration and evaluation of other targets $      500,000
Contingency $      200,000
Total $   2,500,000
Total 80% interest earned upon completion of All Phases and formation of Joint Venture

The above work program will lead to an 80:20 Joint Venture with TGR.  A standard dilution clause applies to either party leading to a 2.5% Net Smelter Return Royalty in case either party does not contribute its share of the exploration and development expenditures resulting in dilution of a party to an interest of 10% or less.

In the event a third party acquires the project the proceeds will be divided according to the percentage interest earned.

TGR has a very highly qualified technical team with extensive experience in West Africa, they are:

  • Serigne Dieng – Chief Geologist, General Manager, PhD (Mineral Exploration, Queens University, Kingston, Ontario) worked for IAMGOLD Corp and Wega Mining S.A., in the countries of Guinea and Senegal.  He is a shareholder of TGR.
  • Pierre Lalande – B.Sc., P.Geo., Geologist, Chief Technical Advisor, identified several deposits and mines at an early stage in Mali, Burkina Faso and Guinea.  He worked for several major companies as Chief Geologist, Mali Operations, IAMGOLD Corp., Senior Geologist and Country Manager, Wega Mining SA.  He is presently a Director and Chief Technical Advisor, African Gold Group., a company listed on the TSX Venture Exchange. *AGG had a big change recently**
  • Denis Bray – B.Sc., P.Eng. Geologist, has many years’ experience working in West Africa, involved in the discovery of several gold deposits; Country Manager, Guinea and Mali, Wega Mining SA and Avocet Mining Corporation, Regional and Project Manager, IAMGold Corp., Consultant to Barrick Gold in Mali, and Project Manager and Senior Geologist, China, Majestic Gold Corporation.
  • Mohan R. Vulimiri, M.Sc., P.Geo, Director of Nortec and CEO of Nortec Minerals, is a Qualified Person as defined by NI 43-101.  Mr. Vulimiri has approved the corporate and technical content contained in this press release.  All the bedrock and termite mound samples were analysed by SGS Labs, an accredited laboratory in Bamako, Mali.  A blank was inserted every 20th sample for quality control.