March 1, 2017 2:28 pm
March 1, 2017 2:28 pm
Vancouver, BC / TNW – Accesswire / Vancouver, B.C., March 1, 2017 – Nortec Minerals Corp. (TSX-V: NVT; OTC-PK: NMNZF) (the “Company” or “Nortec”) – a Canadian public company listed on the TSX Venture Exchange is pleased to announce the appointment of Michael Collins, B.Sc. (Honours), P. Geo., to the Board of Directors of the Company.
Michael brings all facets of mining industry expertise to the Company in various minerals and from early stage field work through to funding (up to $20 m) and financing the development of projects through to build out. The projects are located in all kinds of political environments in North and South America, Africa, Mongolia, Indonesia and Scandinavia. Projects and Companies of note include production and exploration at the Red Lake Mine with Goldcorp, exploration work on the South Raglan project in the Ungava Peninsula with Canadian Royalties and a Syndicated project review in China
As Vice President North America of a global engineering firm, Michael spearheaded market growth by identifying and capitalizing on corporate assets and relationships. From these experiences Michael brings a multitude of skill sets that will benefit Nortec as the company advances both its current and additional projects in the future.
The Company also announces the issuance of 250,000 incentive stock options to Michael. Each option has an exercise price of $0.15 and is exercisable at any time prior to March 1, 2019, subject to the terms and conditions of the Company’s Stock Option Plan.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has a 49% interest in the Tammela Gold & Lithium Project in South-West Finland. Avalon Minerals of Australia has completed 51% Stage 1 earn-in interest and is proceeding to the 80% Stage 2 earn-in joint venture interest in the Tammela Project. They have completed more than 3,000 meters diamond drilling on the Kietyonmaki lithium prospect and the Satulinmaki and Riukka prospects that comprise the Tammela Project. The favorable results were announced in the Company’s press releases dated 15th September, 23rd September, 22nd November, 2016 and 21st February 2017. The results can also be referred to in Avalon Minerals website: http://avalonminerals.com.au/. The positive results from Avalon’s drilling, together with the historical drilling results of the Finnish Geological Survey, exhibit a large gold system. Avalon’s drilling also confirmed the presence significant Lithium mineralization with values as high as 24m at 1.44% Li2O.
The Company also has an option to acquire 80% of The Golden Rule Limited’s (“TGR”) major gold properties in Guinea, West Africa. TGR’s properties consist of a 100% interest in the Tomboko permit, a 100% interest in the Diguifara Permit and minority interests in the Badamako and the Kouroussa permits. These land holdings cover prospective ground on three separate mineralised trends.
The permits are in the northern part of the Birimian Siguiri Basin, a well-known prolific past and present gold producing area. This part of the Basin trend already hosts three multi-million ounce gold mines, the Lero (Nord Gold NV), the SAG (AngloGold-Ashanti) and the Keniéro (SEMAFO) along with several other lesser mines and projects in advanced stages. Historically, the Niger River lowlands have been the site of extensive mining of alluvial gold and high-grade quartz lode gold in the saprolite (rock altered to clay) that gave rise to several past African Empires. The Company is now receiving tenders for the 2500 metre Reverse Circulation (RC) drilling program on the identified drill targets on the Tomboko Permit. Information on the planned exploration programs and all Company projects have been posted on the Company’s website www.nortecminerals.com.
The Company moved its offices to Suite 915, 700 West Pender Street, Vancouver BC, V6G 1G8.
On behalf of the Board of Directors,
NORTEC MINERALS CORP.
“Mohan R. Vulimiri”
Mohan R. Vulimiri, CEO and Chairman
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
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.