April 12, 2017 9:00 am
April 12, 2017 9:00 am
Vancouver, BC / TNW – Accesswire / Vancouver, B.C., April 12, 2017 – Nortec Minerals Corp. (TSX-V: NVT; OTC-PK: NMNZF) (the “Company” or “Nortec”) – Nortec commences work program in preparation for Phase 1 drilling on the Tom-1 and Tom-2 targets, Tomboko Permit, Northeast Guinea, West Africa (Figure 1). Nortec entered into a Letter of Intent (“LOI”) to acquire an 80% interest in pro-rata stages in the Tomboko Gold Property, held by The Golden Rule Limited. Nortec will also earn an 80% interest in all of TGR’s interests in other exploration permits located in Guinea.
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. Details on the Tomboko, Diguifara, Badamako and Kouroussa permits are in the Company’s January 11and February 10, 2017 news releases.
The permits are in the northern part of the Birimian Siguiri Basin, a well-known prolific gold producing area. This part of the Basin 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. Artisanal mining is still very widespread in the area
Mohan Vulimiri, CEO commented “The consistency of the gold anomalies defined by termite mound and soil sampling on Tomboko supported by rock chip ‘grab’ samples averaging 5.9 g/t Au (17 samples) and 11g/t Au (10 samples) in two parallel trends at TOM-1 provides Nortec with a set of very robust initial targets for our first round of drilling.”
The Company signed a drill contract with Gestion Fredal SARL, a drilling company located in Ouagadougou, Burkina Faso. Drill pads and access roads are being constructed in preparation for drilling with several drill pads already completed. The Company plans to drill 31 shallow reverse circulation drill holes for a total of 2500 metres on the Tom-1 North, Tom-1 South and Tom-2 targets (Figures 2 & 3). Drilling is expected to commence in two weeks. Nortec has a management and technical team in place on site to monitor and supervise the drill program.
The gold mineralization on the Tom-1 and Tom-2 targets is 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 at Tom-3 is similar to the 2.3 million ounce Koulékoun deposit located 120 kilometres to the south which is owned by Avocet Mining, a company listed on the London Stock Exchange,.
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.
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, a public Australian mining company has earned the 51% interest and is carrying out the 29% Stage 2 earn-in interest on the Tammela Project. Avalon has completed more than 3,000 meters diamond drilling on the Kietyonmaki lithium prospect and the Satulinmaki and Riukka prospects that comprise the Tammela Project. Detailed information on the Company’s projects have been posted on the Company’s website www.nortecminerals.com.
The Company recently moved its offices to Suite 915, 700 West Pender Street, Vancouver BC, V6C 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.