Nortec Announces 14m @ 1.02% Nickel from TL (Tasisuak Lake) Property, Labrador
07 Oktober 2008 - 8:33PM
Marketwired Canada
Nortec Ventures Corp. (TSX VENTURE:NVT), ("Nortec" or the "Company"), is pleased
to announce that the recent summer drill program at Tasisuak Lake in Labrador
has encountered significant Nickel (Ni), Copper (Cu), Cobalt (Co) mineralization
highlighted as follows:
- 14 metres of 1.02% Ni, 0.51% Cu, 0.03% Co (Hole 08-AA-60)
- 9 metres of 1.02% Ni, 0.55% Cu, 0.04% Co (Hole 08-LP-55)
- 3 metres of 1.04% Ni, 0.38 Cu, 0.03% Co (Hole 08-LP-56)
- 3 metres of 1.01% Ni, 0.39% Cu, 0.04% Co (Hole 08-AA-62)
The drill program consisted of 1960 metres of diamond coring over 18 holes. The
program was designed to test a variety of surface showings and VTEM geophysical
anomalies.
The Property consists of 219 contiguous claims, contained in four Exploration
Licenses, covering 5,475 hectares. In March 2003 Nortec optioned the TL Property
from Vulcan Minerals Inc. ("Vulcan") of Saint John's, Newfoundland. Nortec can
earn up to a 51% interest in the TL Property by incurring exploration
expenditures of $1.5 million by March 17, 2009.
2008 Drill Locations
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Easting Northing Total
(m) (m) Elevation Azimuth Dip Depth
Hole_ID Prospect NAD27_z20 NAD27_z20 (m) (degrees)(degrees) (m)
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08-LP-55 Long Pond 512372 6270033 484 105 -50 137.2
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08-LP-56 Long Pond 512372 6270033 484 130 -80 107.84
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08-LP-57 Long Pond 512413 6270013 476 320 -80 156.6
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08-AA-58 All About-it 512310 6270400 508 108 -50 39.63
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08-AA-59 All About-it 512310 6270400 508 108 -80 28.05
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08-AA-60 All About-it 512266 6270635 534 140 -50 118.9
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08-AA-61 All About-it 512266 6270635 534 140 -80 86.57
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08-AA-62 All About-it 512283 6270628 533 320 -45 64.02
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08-BZ-63 B-Zone 512550 6271400 500 80 -85 287.15
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08-NB-64 No Baccy 512233 6270947 542 75 -45 79.9
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08-NB-65 No Baccy 512250 6270952 544 255 -60 51.21
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08-NB-66 No Baccy 512251 6270920 540 80 -45 100.5
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08-BZ-67 B-Zone 512752 6270667 502 270 -60 140.24
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08-BZ-68 B-Zone 512883 6269979 493 270 -75 115.85
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08-BZ-69 B-Zone 512921 6269998 491 260 -45 82.32
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08-FZ-70 F-Zone 513355 6268989 496 270 -60 109.76
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08-AZ-71 A-Zone 513639 6269988 515 270 -60 118.9
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08-BZ-72 B-Zone 512497 6271773 470 350 -80 136.28
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Generally, the holes testing geological targets along the C-zone (holes 56-66,
except 63) proved to contain the best mineralization with disseminated to
semi-massive sulphide textures, as follows:
2008 Drill Results
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Platinum,
Palladium+
From To Interval Nickel Copper Cobalt Gold
Hole_ID (m) (m) (m) % % % g/t
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08-LP-55 7 21 14 0.80 0.85 0.03 0.36
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Incl. 10 19 9 1.02 0.55 0.04 0.40
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incl. 7 13 6 1.02 1.59 0.05 0.30
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WITH 7 8 1 0.55 4.02 0.03 0.30
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08-LP-56 8 25 17 0.41 0.15 0.02 0.16
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incl. 8 14 6 0.69 0.24 0.02 0.21
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incl. 9 12 3 1.04 0.38 0.03 0.28
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08-LP-57 NSI
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08-AA-58 8 13 5 0.11 0.05 0.07 0.05
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08-AA-59 NSI
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08-AA-60 3 42 39 0.57 0.28 0.02 0.25
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incl. 6 20 14 1.02 0.51 0.03 0.35
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WITH 13 14 1 2.15 0.38 0.05 0.36
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08-AA-61 2 31 29 0.42 0.21 0.02 0.15
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incl. 5 6 1 1.62 0.66 0.05 0.35
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incl. 8 10 2 1.23 0.34 0.04 0.41
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08-AA-62 5.5 41.5 36 0.42 0.19 0.02 0.19
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incl. 7.5 10.5 3 1.01 0.39 0.04 0.63
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incl. 11.5 13.5 2 1.09 0.25 0.06 0.53
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08-NB-64 5.50 11.5 6 0.75 0.22 0.02 0.32
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incl. 5.50 7.5 2 1.47 0.28 0.03 0.46
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08-NB-65 7.70 8.7 1 1.21 1.04 0.03 0.03
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08-NB-66 15.25 16.25 1 0.29 0.07 0.01 0.08
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Drill holes 63, 67-72 tested a series of VTEM Anomalies in the B, F and A zones
and did not encounter any significant nickel-copper mineralization. However,
three of the holes did encounter a massive pyrrhotite zone up to 3 meters in
thickness with gold enrichment of 1 gram/tonne over 2 metres in hole 68. As
well, some zones of anomalous platinum (Pt) and palladium (Pd) were encountered.
Hole 63 encountered the thickest gabbroic body over 69.4 metres though no
significant mineralization was encountered.
All core samples were cut in half in the field by diamond saw, packaged and
sealed in the field and shipped to Accurassay Laboratories receiving facility in
Gambo South, NL where they were prepared and forwarded to the main lab in
Thunder Bay, ON. One half of the core samples are preserved for further
analysis. Samples were tested for 30 elements (including base metals) with an
ICP (Inductively Coupled Plasma) process. Samples exceeding detection limits
were processed for ore grade analysis with an AA (Atomic Absorption) process.
All samples were also analyzed for Au, Pt and Pd with a fire assay process.
QA/QC was maintained by the laboratory by running duplicates and repeats, and
also with blind duplicates inserted into the sample stream directly from the
field.
The Tasisuak Lake property is situated approximately 50 kilometres northwest of
the world class Voisey Bay nickel-copper-cobalt mine. The property covers
significant outcrops of Tasiuyak gneisses hosting mafic intrusions which contain
the nickel-copper mineralization. The genesis and style of mineralization
remains unexplained in the context of the regional setting and timing of
emplacement. The Company plans to carry out geochemical and petrographic
analysis of the mineralization and host rocks to answer these questions and
assist in further exploration of the property.
The property contains many untested geophysical anomalies and surface showings.
The C-zone mineralization remains open in a north-south direction in excess of 5
kilometers based on its geophysical signature. The Company is encouraged by
these drill results and notes that they are some of the highest grade over width
nickel-copper intersections drilled in Labrador outside of Voisey's Bay.
Kingurutik Property
As part of the recently signed agreement between Nortec and Vulcan, Nortec
commissioned Geotech Ltd. ("Geotech") to carry out a 417 line-km
helicopter-borne geophysical survey for Nortec over the Kingurutik River
Property, 70km north of the Tasisuak Lake property. The airborne geophysics
consisted of a versatile time domain electromagnetic ("VTEM") survey and total
magnetic intensity ("TMI") using a cesium magnetometer.
There are 5 main anomalies identified from the geophysical survey. Three of
these anomalies are located in the north central part of the claim and have E-W
trending conductors with coincident magnetic highs possibly related to metallic
mineralization in the form of mixed magnetite and pyrrhotite dominated
sulphides.
As part of a first pass exploration drill program, 3 holes were drilled for a
total of 321metres. The holes targeted the potential near-surface mineralization
and coincident geophysical anomaly on Prospect A.
Drillhole Collar co-ordinates on the Kingurutik River Property
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Easting Northing Total
(m) (m) Elevation Azimuth Dip Depth
Hole_ID Prospect NAD27_z20 NAD27_z20 (m) (degrees)(degrees) (m)
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08-KG-01 A 504162 6317813 555 270 45 121
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08-KG-02 A 504010 6318762 480 320 45 100
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08-KG-03 A 504300 6318912 391 320 45 100
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All core samples were cut in half by diamond saw, packaged and sealed in the
field before being shipped to Accurassay Laboratories receiving facility in
Gambo South, NL where they were prepared and forwarded to the main lab in
Thunder Bay, ON. Samples were tested for 30 elements (including base metals)
with an ICP (Inductively Coupled Plasma) process. Samples exceeding detection
limits were processed for ore grade analysis with an AA (Atomic Absorption)
process. All samples were also analyzed for Au, Pt and Pd with a fire assay
process. QA/QC was maintained by the laboratory by running duplicates and
repeats, and also with blind duplicates inserted into the sample stream directly
from the field. No significant nickel-copper mineralization was encountered.
Geological and geophysical interpretation of the Kingurutik River Property is
ongoing with the aim of delineating future drill targets.
To view a map of the Tasisuak Lake project, click the following link:
http://media3.marketwire.com/docs/nvtmap.jpg.
Further information on the TL and Kingurutik River Properties is available on
Nortec's website at www.nortecventures.com. Mohan R. Vulimiri, M.Sc, P.Geo.,
President, CEO and Director of Nortec; and, Ian Laurent MEconGeol MAIG RPGeo,
Vice President - Exploration for Nortec, are the persons responsible for
initiating and guiding the work programs on the TL and Kingurutik Project. Mohan
Vulimiri is the Qualified Person responsible for the contents of this press
release.
On behalf of the Board of Directors,
NORTEC VENTURES CORP.
Mohan R. Vulimiri, President & CEO
The statements made in this Press Release may contain certain forward-looking
statements. Actual events or results may differ from the Company's expectations.
Certain risk factors may also affect the actual results achieved by the Company.
This press release does not constitute an offer to sell, or a solicitation of an
offer to sell, any of the foregoing securities in the United States. None of the
foregoing securities have been and, nor will they be, registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is
available.
There can be no assurance that forward-looking information will prove to be
accurate. Should one or more of these risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from any conclusions, forecasts or projections described in the
forward-looking information. Accordingly, readers are advised not to place undue
reliance on forward-looking information. Except as required under applicable
securities legislation, the Company undertakes no obligation to publicly update
or revise forward-looking information, whether as a result of new information,
future events or otherwise.
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