Vancouver, BC / TNW – Accesswire / May 18, 2017 – NORTEC MINERALS CORP. (the “Company” or “Nortec”) (TSXV: NVT) is pleased to announce that the Company’s Joint Venture earn-in partner, Avalon Minerals (“Avalon”) of Milton, QLD, Australia, completed an extensive Induced Polarisation Survey (“IP Survey”) as part of the Stage 2 exploration program on the Satulinmäki Gold Prospect, Tammela Project, Southern Finland. Avalon has completed Stage 1 and holds a 51% interest in the Project. Avalon and Nortec will form an 80:20 Joint Venture partnership on completion of the Stage 2.
The results from the IP Survey by Avalon confirms the potential for the occurrence of a large gold system on the Satulinmäki Prospect. Avalon’s 2016 drilling, together with the historical drilling results by the Finnish Geological Survey “GTK”), returned significant intersections (Re: Nortec’s press releases dated 20 February 2017). Avalon’s press releases can be viewed on:
- Outstanding results from the large Induced Polarisation geophysical survey at the Satulinmäki Prospect.
- Three-dimensional geophysical modelling identifies extensive areas of what is likely to be structurally-controlled alteration and mineralization
- Drill targets identified on multiple structural corridors up to 1.2km long, with significant vertical extent
- Newly recognised large gold system potential represents a ‘scale change’ at Satulinmäki
The large IP Survey was completed at Satulinmäki during the period January – April 2017. The key objective of the survey was to define areas of altered host rock within which gold mineralisation is expected to occur.
The IP Survey clearly identified mineralized zones previously intercepted in historical drilling by GTK and the seven holes drilled by Avalon in 2016. These target signatures were used to define other potential gold-bearing zone targets in the project area. Geophysical mapping of interpreted sericite alteration and distribution of sulphides, both known to be associated with gold mineralisation from drilling, has shown two main trends (Figures 1 and 2)
- The main Satulinmäki gold trend, outlined over a ~300m strike length by drilling, is extended to 1.2 kilometres by the IP survey; and
- A new 800 m long northwest trending zone was delineated.
In addition, the survey has defined:
- Subordinate trends to the south of Satulinmäki, each up to 400m long; and
- Subtle trends to the north of Satulinmäki showing both ENE and NW patterns.
Conductivity results have identified discrete anomalies that coincide with the high-grade intersections (SMDD007, 23.5m at 3.3g/t Au including 9.2m at 7.3g/t Au).
Chargeability results, which are interpreted to map the sulphides commonly associated with the gold mineralisation, demonstrate significant vertical extent to well beyond the depth of previous drilling and to at least 300m below surface (Figure 3).
Mohan R. Vulimiri, CEO of Nortec comments, “Nortec is very pleased with the quality of work that Avalon, our joint venture partner, has been doing on the Satulinmäki Project. The target generation and correlation between drilling grade and the quality of the target is an exceptional result for this program. These results further demonstrate the potential for exploration at Satulinmäki to define a large gold system with considerable vertical extent. Nortec looks forward to Avalon’s next drilling campaign.”
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia.
Tammela Minerals Oy (TamOy), the wholly-owned subsidiary of Nortec holds 49% in two Joint Venture (JV) holding companies, Kultatie Oy for the Somero 1 to 12 claims (Riukka and Satulinmäki gold zones) and Litiumloydos Oy for Tammela 1 to 3 claims (Kietyönmäki lithium prospect). TamOy also staked the Rehumaki exploration reservation over an area of 117 km2 around the Somero and Tammela claims. This reservation forms part of the Joint Venture with Avalon.
Nortec entered into a Joint Venture with The Golden Rule Limited to acquire an 80% interest in the Tomboko and Diugafara Gold Properties located in Guinea, West Africa. Nortec will also earn an 80% interest in TGR’s minority financial interests in other exploration licenses located in Guinea. Details are contained in the Company’s February 21 and April 12, 2017 news releases.
Mohan R. Vulimiri, M.Sc., P.Geo, CEO, 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
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.