Nortec’s current project pipeline includes the Tammela gold and lithium project in southwest Finland, The Golden Rule Limited’s early stage gold properties in Guinea, west Africa, and is currently evaluating an number of opportunities in Ecuador, South America.
The Tammela Project is under an option to joint venture agreement with Avalon Minerals Limited of Australia who recently (NR dated February 21, 2017) completed the 51% Stage 1 earn-in interest and is proceeding to the 80% Stage 2 earn-in joint venture interest. Avalon have completed more than 3,000m of diamond drilling on the Kietyonmaki lithium prospect and the Satulinmaki and Riukka prospects that comprise the Tammela Project. 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 an 80% interest in all 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 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. The Company is now receiving tenders for a 2500 metre reverse circulation (RC) drilling program on the identified drill targets on the Tomboko Permit as part of the program for the Phase 1 earn-in interest.
Numerous high quality properties and projects are being reviewed and discussed with the appropriate parties with an objective of securing a ‘cornerstone’ project in Ecuador from which Nortec’s team can create additional project and shareholder value.