Mink Ventures Commences Drilling Program at Warren Copper Nickel Project, Timmins, Ontario
Mink Ventures Commences Drilling Program
at Warren Copper Nickel Project, Timmins,
Ontario
Toronto, Ontario--(Newsfile Corp. - February 5, 2024) - Mink Ventures Corporation (TSXV: MINK)
("
MINK
" or the "
Company
") today announced it has commenced an initial 500 meter drill program on
the A Zone at its Warren Copper Nickel Project. The Warren property covers 1,010 hectares of land,
located in Whitesides Township, approximately 35 km west of Timmins, Ontario. (See Figure 1.) The
first phase of drilling will consist of a series of short holes on the A Zone to determine the extent of the
mineralization down plunge, down dip and along strike prior to evaluating the other mineralized zones
and numerous untested priority geophysical targets.
The "A" Zone (See Figure 2) was selected as a high-priority target for drill testing as a result of an
extensive geological review of data, a field examination and a confirmation sampling program
conducted this summer (2023) by Company geologists.
Results from this sampling program on the "A"
Zone along with other targets zones on the property are presented in the accompanying Table 1.
"We are excited to begin drill testing these underexplored patented mining claims following their recent
acquisition in July 2023. With the geology, geophysics, and the extensive surface mineralization
observed, we think there is significant opportunity for new discoveries to be made on the patents and
across the expanded Warren project, which includes additional staked claims (Warren East) and
acquired claims (Warren North). Mink's work commitment to earn a 100% interest in the patents is
$300,000.
We will make a significant dent in that obligation with this initial drill program which is
expected to run for about two weeks. Further, we are grateful that half of the costs of our drill program will
be offset with the non-dilutive capital provided through the OJEP grant, which enables us to conduct
additional exploration while keeping our share structure intact at 18.8 M shares outstanding," said
Natasha Dixon, President & CEO.
PROPERTY HIGHLIGHTS:
Prospecting, sampling, and a geological evaluation of known mineralized zones A, B, and C was
completed in the summer of 2023 in order to locate the most prospective zones of mineralization
for drill testing.
A total of 20 reference grab samples were taken.
Sampling efforts confirmed the presence of extensive zones of mineralization; recent sampling
demonstrated excellent copper grades and significant nickel, cobalt and silver grades associated
with some of the best copper grades. (See Table 1 and Figure 2.)
The sampling efforts confirmed that the
highest priority target at this time is the A Zone
where
approximately
120 meters of the zone is exposed in a series of trenches in outcrop
.
Excellent copper values ranging from 1.075% to 2.08% were noted in the A Zone trenches.
Nickel
values from the A Zone
ranged from 0.313% to 0.348% Ni.
Cobalt
values ranged from
0.0389% to 0.0498% Co.
Some interesting silver values ranging from 10.3 ppm to 23.8 ppm were
also associated with some of the better copper values on the A Zone.
To date, the Warren patents host three known zones with copper, nickel, and cobalt mineralization;
these have been designated A, B, and C.
Two historical bulk samples were completed on the
Warren patents; the first bulk sample returned 0.21% Cu, 0.96% Ni, 0.11% Co and 0.10% Zn, and
a second bulk sample returned 2.83% Cu, 0.58% Ni, 0.10 Co and 0.13 Zn. The combined A-B
zones and the C zone have projected strike lengths of 800 and 1,000 meters of strike length
respectively from geophysical data.
In the 1950's a resource* calculation of 385,000 tons of 1% Cu + Ni was outlined by Jade Oil &
Gas on the Warren patents. Jade Oil and Gas drilled 23 holes to test Zones A and B in the mid
1950's. Highlights include 2.5% Cu+Ni over 7.6 m and 2.8% Cu+Ni over 8.2 meters.
*The
resource calculation is historical in nature and is not NI43-101 compliant; it is not to be relied
upon and is reported as a historical statement only. Note: Certain historical information
pertaining to a historical resource estimate, is disclosed in this press release. The methods and
parameters used to prepare this estimate and the category of the estimate is unknown.
A
qualified person has not done sufficient work to classify the historical estimate as current mineral
resources or mineral reserves, and the issuer is not treating the historical estimate as current
mineral resources or reserves.
References: Technical Report for Western Troy Capital
Resources on the Warren Property (W. Hawkins P. Eng, 2021) and Maxmin, Magnetometer and
VLF Surveys Evaluation Report, Whitesides and Massey Twp. Claims (C. Mackenzie
Consulting Geologist, 1990)
Despite fairly significant historical work on both the A and B zones in the past, the bulk of the
exploration efforts were limited to fairly shallow drilling and/or surface work. Consequently, there is
limited understanding of the geometry of these mineralized zones at depth. The first phase of
drilling by MINK will consist of a series of short holes on the A Zone to determine the extent of the
mineralization down plunge, down dip and along strike prior to evaluating the other mineralized
zones and numerous untested priority geophysical targets in a second phase program.
Table 1: Assay Sample Table for Warren Mineralized Zones A, B, and C
Zone
Trench #
Cu ppm
Cu %
Ni ppm
Ni %
Co ppm
Co %
Ag ppm
B
3
8530
0.853
3010
0.301
379
0.0379
6.6
B
3
13150
1.315
3650
0.365
401
0.0401
5.3
B
Pop 1
9200
0.92
838
0.0838
98
0.0098
2.5
B
4
7310
0.731
4390
0.439
264
0.0264
2.7
B
4
3600
0.36
4010
0.401
246
0.0246
1.4
B
5
1290
0.129
1385
0.1385
106
0.0106
0.9
B
6
4650
0.465
3270
0.327
206
0.0206
2.8
C
1
159
0.0159
32
0.0032
8
0.0008
0.4
C
2
191
0.0191
190
0.019
112
0.0112
1
C
8
289
0.0289
61
0.0061
12
0.0012
0.3
Shaft
688
0.0688
994
0.0994
123
0.0123
0.4
A
7
20000
2.00
3130
0.313
448
0.0448
17.6
A
1
12800
1.28
2910
0.291
392
0.0392
10.3
A
1
11300
1.13
2340
0.234
310
0.031
8.7
A
1
1715
0.1715
2830
0.283
389
0.0389
3.2
A
5
6700
0.67
1080
0.108
179
0.0179
2.3
A
7
10750
1.075
3480
0.348
498
0.0498
10.7
A
7
19400
1.94
3280
0.328
458
0.0458
17.8
A
7
20800
2.08
3350
0.335
473
0.0473
23.8
A
7
2770
0.277
961
0.0961
125
0.0125
2.3
Note: The reader is cautioned that samples shown in table 1 above are "select grab samples" and are not necessarily indicative the average
grade or extent of the mineralized zones sampled.
WARREN PROPERTY GEOLOGICAL DISCUSSION
Mink's expanded Warren Project is hosted within the Kamiskotia Gabbro Complex (
KGC
) and it is
thought to be broadly equivalent to the Montcalm Gabbro Complex (
MGC
) but separated by a granitic
arch. The MGC hosts the former Montcalm Mine which produced approximately 3.93 million tonnes
grading 1.25% Ni, 0.67% Cu and 0.05% Co (OGS, Atkinson, B., 2010) (See Figure 2).
Gabbro complexes such as MGC and KGC are known to be prospective for magmatic nickel copper
sulphide deposition as demonstrated by the Montcalm Mine located within the MGC. The Warren
property complements Mink's Montcalm property due to the distinctly similar prospective geological
environments found in the MGC and the KGC, as well as the presence of significant Cu Ni zones on the
Warren Property.
As highlighted above, the Warren patents have had a sporadic exploration history since the late 1920's
to present day and a number of promising historical mineralized Cu Ni zones were outlined. The majority
of the exploration completed to date on the property was completed in an area representing a very
minimal portion of the property and completed well over 60 years ago. More recent geophysical surveys
from the early 1990's and 2008-2009 outlined a series of untested targets along strike from known
mineralization and/or new targets proximal to known mineralization. These targets are particularly
evident in the accompanying magnetic and IP compilation map shown in Figure 3.
Quality Assurance / Quality Control Program:
Field samples were collected by a qualified professional geologist and experienced field assistant.
Samples were transported in sealed bags to the ALS Canada Ltd. facility in Timmins for preparation.
Pulps were transported to Vancouver, B.C., for 35-element MEICP41 aqua regia inductively coupled
plasma atomic emission spectroscopy analysis, PGM ICP23 analysis for gold-platinum-palladium
analysis, Cu OG46 analysis for over 10,000 ppm Cu and NiOG46 analysis for over 10,000 ppm Ni. A
single Oreas standard number 681 and a blank sample were submitted by the Company as an external
check and numerous quality control samples and duplicates were completed as an internal check by
ALS Canada.
Qualified Person:
Mr. Kevin Filo, P. Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101.
Mr. Filo approved the technical data disclosed in this release.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV: MINK) is a Canadian mineral exploration company exploring for
critical minerals (nickel, copper, cobalt) at its Warren and Montcalm projects, in the Timmins, Ontario
area.
Mink's flagship Montcalm Project, covers 40 km2 adjacent to Glencore's former Montcalm Mine
which had historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051%
Co (Ontario Geological Survey, Atkinson, 2010). Its Warren Ni Cu Co Project is located 35 km away.
Both projects have excellent access and infrastructure with an all-weather access road and power as
well as its proximity to the skilled labour and facilities of the Timmins Mining Camp. The Company has
18,810,534
shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President &
CEO, T: 250-882-5620 E:
or Kevin Filo, Director, T: 705-266-6818 or visit
www.sedarplus.ca
.
Forward-Looking Statements
This press release includes certain "forward-looking information", including, but not limited to,
statements with respect to the Warren Project, the exploration work required to exercise the option,
and the prospectivity of the Warren Project and the Montcalm Project.
Forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of MINK to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking statements. Factors that could affect the
outcome include, among others: future prices and the supply of metals; the results of exploration work;
inability to raise the money necessary to incur the expenditures required to retain and advance the
Warren Project and Montcalm Project; environmental liabilities (known and unknown); general
business, economic, competitive, political and social uncertainties; accidents, labour disputes and
other risks of the mining industry; political instability, or delays in obtaining governmental and stock
exchange approvals. For a more detailed discussion of such risks and other factors that could cause
actual results to differ materially from those expressed or implied by such forward-looking statements,
refer to MINK's filings with Canadian securities regulators available on SEDAR+. These forward-
looking statements are made as of the date hereof and MINK disclaims any intent or obligation to
update publicly any forward-looking statements, whether as a result of new information, future events
or results or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or ac curacy of this
release.
Figure 1: Detailed Location Map
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8332/194746_be99acbb447419bd_001full.jpg
Figure 2: Trench Location Map
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/8332/194746_be99acbb447419bd_002full.jpg
Figure 3: Warren Project- Compilation Map
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/8332/194746_be99acbb447419bd_003full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/194746