Vancouver, BC / TNW – Accesswire / Vancouver, B.C., June 26, 2017 – Nortec Minerals Corp. (TSX-V: NVT; OTC-PK: NMNZF) (the “Company” or “Nortec”) – Nortec initiates Technical Report, compliant with NI 43-101 standards, on the Tomboko Permit, Northeastern Guinea, West Africa. The Company contracted Mr. Simon Meadows Smith, FIMMM, FGS, of SEMS Exploration to complete a compliant Technical Report. SEMS Exploration is a full-service mineral exploration and mining consultancy company in West Africa, providing geological, mining engineering and environmental services; from grassroots reconnaissance through mineral resource estimations, project management and mine design to the supervision of feasibility studies. Further information can be referred to on http://www.sems-exploration.com/
The Company cancelled the drilling contract with Gestion Fredal SARL due to non-performance. The drill equipment was mobilized to the drill site in the first week of June but the drilling has not commenced to date. The Company is evaluating drilling proposals from two other drilling companies and will issue a news release on the commencement of Phase 1 drilling. The program consists of 31 drill holes on the Tom-1 North, Tom 2 South and Tom-2 targets on the Tomboko Permit (Figures 2, 3 & 4). Nortec signed a Definitive Agreement to acquire an 80% interest in pro-rata stages in the Tomboko Gold Property, held by The Golden Rule Limited (TGR). Nortec will also earn an 80% interest in all of TGR’s interests in other exploration permits located in Guinea. The Company signed an Amendment to the Definitive Agreement extending the due date for the completion of the Phase 1 exploration program to December 1, 2017.
TGR’s properties consist of the 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 11, February 10 and April 12, 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
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.
|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.