Mink Ventures' Exploration Program Underway at Its Montcalm NI-CU-CO Project
Mink Ventures' Exploration Program Underway
at Its Montcalm NI-CU-CO Project
Toronto, Ontario--(Newsfile Corp. - January 10, 2023) - Mink Ventures Corporation (TSXV: MINK)
("
Mink
" or the "
Company
") today announced that it has commenced the exploration program at its 40
km
2
Montcalm nickel copper cobalt project located adjacent to Glencore's historical Montcalm Mine, 65
km northwest of Timmins, Ontario.
The exploration program is expected to run through the end of March
and will include an extensive program of advanced geophysics, both borehole and ground induced
polarization (IP) followed by a diamond drill program. All permits are in place and drill contractors and
crews secured. The geophysical crew is currently on site.
Significant advances in geophysical technology have enabled deeper penetrating systems with
incredible clarity. Mink is benefitting from the work of previous operators who left numerous
electromagnetic (EM) targets unexplained or untested. Mink will be conducting borehole geophysical
surveys down some of these historical drill holes. Borehole IP systems now have the capability to see a
250 meters radius around a borehole and significantly below the end of the hole, which offers an
extremely cost-effective way of evaluating targets at depth. The deepest known Ni Cu Co lenses at the
Mine extend from approximately 250-400 meters vertical depth.
Further, historical work at the Glencore mine site demonstrated that in addition to the higher-grade Ni Cu
Co lenses, there is potential for disseminated mineralization. In some instances, this type of
mineralization is associated with a magnetic high and no coincident EM response (ex. Hole MAC9731
see Fig.2). Numerous magnetic targets of this nature are present on Mink's claims both within the Hook
Zone and across the southern portion of the property, (see Fig. 2) and represent valid exploration
targets.
Mink's claims cover very prospective geology including approximately 10 km
2
of the gabbro phase of the
Montcalm gabbro complex. The gabbro phase of the complex hosted the former Montcalm Mine (see
Fig.1- light blue unit). Mink's project covers approximately 40 km
2
and surrounds the former Glencore
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). The project has excellent access and
infrastructure including an all-weather road to the property, a series of logging roads throughout, as well
as a power line, and proximity to the Timmins Mining Camp, enabling cost-effective mobilization and
exploration.
Exploration Program Details: (Hook Zone & South Target Area)
Hook Zone:
Disseminated anomalous nickel and copper mineralization is present over a significant width
within the Hook Zone (historical hole WTM0512); the mineralization is coincident with a distinct
magnetic anomaly and proximal to a number of unexplained historical EM targets including an
unexplained EM target in hole WTM0512 itself.
Borehole IP surveying will be conducted in the western part of the Hook Zone including hole
WTM0512 as well as in a series of surrounding historical holes. This survey work will allow for
target evaluation radius of approximately 250 meters around each borehole and to a significant
distance below the end of each hole.
The borehole IP surveying will allow for evaluation and better targeting of previously unexplained
EM targets within historical holes and seek zones of disseminated mineralization. The borehole IP
will also cost effectively evaluate the potential for deeper targets below 200 vertical meters.
South Target Area:
Mink intends to conduct ground IP over a series of magnetic high responses in the southern portion
of the property as well as target unexplained EM targets in historical holes
that were identified by
previous operators and government surveys. This survey work will better refine these targets for
drill testing.
Diamond Drilling:
The Company has contracted a diamond drill and crew to begin testing targets following completion of
the geophysical work program. The number of diamond drill holes, meters and targets to be tested will
be confirmed following a review and ranking of the geophysical targets generated and refined by the
preceding exploration program.
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
battery metals (nickel, copper, cobalt) at its Montcalm project, which covers approximately 40 km
2
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. (Ont. Geological Survey, Atkinson, 2010. The project
has excellent access and infrastructure with an all-weather access road and power as well as its
proximity to the Timmins Mining Camp. The Company has 14,928,257 shares outstanding.
FIGURE 1: MONTCALM GABBRO COMPLEX GEOLOGY
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8332/150767_01c9f5ba74195b2c_001full.jpg
FIGURE 2: COMPILATION MAP - MAGNETICS, HISTORIC DRILL HOLES & TARGET AREAS
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/8332/150767_01c9f5ba74195b2c_002full.jpg
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.sedar.com
.
Forward Looking Statements
This press release includes certain "forward-looking statements" under applicable Canadian
securities legislation, including, but not limited to, statements with respect to the common shares
beginning trading on the TSXV. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
statements. 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 accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/150767