March 30, 2011 10:00 am
March 30, 2011 10:00 am
Vancouver, B.C., March 30, 2011: Nortec Minerals Corp. (TSX-V: NVT; FSE: WMQ; OTC PINK: NMNZF) (“Nortec” or the “Company”), is pleased to announce an update on the assay results from the Marttalanniemi prospect following the completion of the follow-up sampling programme last quarter. The Marttalanniemi prospect is located in the north-central part of the Seinäjoki Gold Project in western Finland. The Company has an option to earn a 100% interest in the Seinäjoki Project from Akkerman Exploration B.V. (“AEbv”), a private company based in the Netherlands.
In 2010, Nortec drilled 9 holes, for 750 metres, on the Marttalanniemi prospect to test the mineralized drill intercepts identified in the archive drill core from holes drilled by the Geological Survey of Finland (“GTK”) during the 1970’s and 1980’s. Based on the initial results (see News Release September 8, 2010), a follow-up sampling programme of the Nortec drill core and the available GTK drill core was designed to sample, where possible, across the Tervasmäki-Kalliosalo-Marttalanniemi (“TKM”) Shear Zone. An updated table of the assay results for gold from both the Nortec and GTK drill core a shown below.
|Hole_ID||From (m)||To (m)||Interval (m)||Gold g/t||Mineralized Zone|
|MTL10-001||12.00||111.00||99.00||0.50||TKM Shear Zone|
|MTL10-003||25.00||41.00||16.00||0.27||TKM Shear Zone|
|MTL10-004||1.50||70.00||68.50||0.59||TKM Shear Zone|
|MTL10-005||8.00||11.00||3.00||0.51||TKM Shear Zone|
|MTL10-006||14.00||39.70||25.70||0.31||TKM Shear Zone|
|MTL10-007||0.60||88.00||87.40||0.90||TKM Shear Zone|
|MTL10-009||60.00||109.35||49.35||0.44||TKM Shear Zone|
|R332||147.20||149.20||2.00||0.55||TKM Shear Zone|
|R342||NSI||NSI||NSI||NSI||Hanging wall only|
|R343||26.00||132.20||106.20||0.41||TKM Shear Zone|
|R344||51.00||53.00||2.00||0.61||TKM Shear Zone|
|R345||31.80||33.00||1.20||0.50||TKM Shear Zone|
|R346||NSI||NSI||NSI||NSI||Foot wall only|
|R415||60.30||126.30||66.00||0.43||TKM Shear Zone|
|R416||36.00||84.00||48.00||0.49||TKM Shear Zone|
|R419||NSI||NSI||NSI||NSI||Foot wall only|
|R422||NSI||NSI||NSI||NSI||Foot wall only|
|R424||2.00||11.00||9.00||0.53||TKM Shear Zone|
|R426||13.75||14.35||0.60||3.26||TKM Shear Zone|
|R428||6.40||9.55||3.15||0.47||TKM Shear Zone|
|R429||NSI||NSI||NSI||NSI||Foot wall only|
|R430||1.50||25.40||23.90||0.41||TKM Shear Zone|
Results are from samples selected by Nortec only. Historical assay results have NOT been included. Samples were submitted to ALS Chemex in Outokumpu for Ore grade Gold by fire assay fusion and AAS finish (FA-AAS), along with a multi-element (48 elements) acid digestion-acid leach process with an ICP-MS or ICP-AES finish. Best intercepts were calculated with a cut- off grade of 0.25g/t Gold. NSI = No significant intercept.
Results from the follow-up sampling programme have confirmed that the northwest-southeast trending 700-metre long TKM Shear Zone is a near-surface, mineralised system, 60 to 100 metre in thickness. Drilling through the TKM Shear Zone, to date, has only tested the top 30 metres below natural surface and confirmed the presence of 3 high grade mineralized lenses between 0.5 and 15 metres in width. Gold mineralisation is hosted in sheared and metamorphosed quartz veins within a plagioclase-porphyry rock. Mineralisation is open at depth and to the south-west and open along strike to the northwest and southeast. Based on identified structural and lithological controls, alteration and silicification, Nortec anticipates higher grade gold mineralisation within a more favourable host rock (such as the mica schist or mica gneiss) down dip and down plunge from the mineralisation already intersected near surface within the TKM Shear Zone. The next phase of drilling has been designed to target these zones down-dip and along strike.
Commenting on the announcement, Mr. Mohan Vulimiri, Chairman and CEO of Nortec stated,” these results show that several sub parallel higher grade shoots associated with mica schists and mica gneisses are present within the TKM Shear Zone which could average out in to wide intersections. This type of mineralization is present and well documented in the Klondike Schist in the Tintina Belt, Yukon. I am confident that with more systematic drilling, potential large gold zones will be defined. The Riukka and Satulinmäki zones in the recently announced Tammela project area also show bonanza gold grades amongst lower grade mineralized zones within similar geological environments”
Further information about these results regarding the Marttalanniemi Prospect, including drill hole collar tables, best drill-hole assay intercept tables, drill plans and sections will become available on the Nortec website www.nortecminerals.com.
The Seinäjoki Gold Project is located in western Finland and is made up of over 5,500 hectares of contiguous claims covering the TKM Shear Zone; the Sikakangas-Tulisilma district and the Ylijöki Shear Zone. The other major targets, Sikakangas and Ylijöki, will be included in future drill campaigns upon completion of further surface sampling and geological mapping along with the completion of the re-logging and re-sampling of archive drill core stored at the Geological Survey of Finland’s storage facility located in southern Finland.
Mr Turkka Rekola, M.Sc,, Project Geologist in Finland and, Mr Ian F. Laurent MSc.(EconGeol) MAIG RPGeo, President for Nortec, are the persons responsible for initiating and guiding of the work programs on the Seinäjoki Project. Ian F. Laurent is the Qualified Person responsible for the contents of this press release.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has an option to earn from Akkerman Exploration B.V., a 100% interest in the Seinäjoki Gold Property and Kaatiala Beryllium-Rare Earth Property in western Finland.
Nortec has a 100% interest in the Tammela Gold & Lithium Project in south-west Finland; a 100% interest in the LK Palladium-Platinum-Gold-Copper-Nickel Project (the combined Kaukua & Haukiaho Projects) in north-central Finland, a minimum 51% interest with an option to earn 100% interest in the TL Nickel-Copper-Cobalt Property in Northern Labrador, Canada; and, an option to acquire 51% interest in the Ganarin Gold-Silver Property, Ecuador.
On behalf of the Board of Directors,
NORTEC MINERALS CORP.
“Ian F. Laurent”
Ian F. Laurent, President
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.