Mink Ventures Montcalm Property Update
Mink Ventures Montcalm Property Update
Toronto, Ontario--(Newsfile Corp. - November 27, 2023) - Mink Ventures Corporation (TSXV: MINK)
("
Mink
" or the "
Company
") today announced that it has completed analysis of core from a recent, single
drill hole, to test a strong induced polarization (IP) anomaly designated SW IP Anomaly 1 (See Figure 3),
associated with a large magnetic high in the SW Target Area (STA) of its Montcalm Ni, Cu, Co project.
The drill hole intersected a disseminated sulphide zone over approximately 19 meters consisting of
disseminated pyrite, minor pyrrhotite with the occasional speck of chalcopyrite, however, no significant
base metal or precious metal values were returned.
The cause of the SW IP Anomaly 1 was barren,
disseminated sulphide mineralization which explained the anomaly. This sulphide zone was not detected
by previous airborne EM systems due to its disseminated nature and thus lack of conductivity. This lends
credence to the approach by Mink that both 3D borehole IP and surface IP are good tools to detect
potential new zones of mineralization that have not been found by previous operators. Ongoing target
development work (ground IP surveying) is currently under way in the eastern portion of the STA.
Numerous borehole IP and ground IP targets on the Montcalm Project remain untested and it is
anticipated that further targets will be developed from this ongoing IP program. These will be prioritized
for future drill testing.
Once this IP program is complete, Mink will have expended the $600,000 work commitment portion of
the earn in agreement. Upon issuance, in late December 2023, of the second payment of cash
($25,000), the second share issuance (800,000 Mink shares) and transfer of assessment credits, the
Company will have secured its 80% interest in the highly prospective Montcalm Project and the project
will remain in good standing for several years with banked assessment.
Natasha Dixon President and CEO commented, "Mink is using advanced geophysics on the overburden
covered Montcalm project which can penetrate deeper than previous systems and are capable of
outlining both disseminated and massive sulphides. There is less than 1% outcrop to chase, so this
technology is one of the primary means to identify targets that were missed by previous operators with
less powerful airborne systems. Drill testing these newly identified targets is the only way to determine if
the mineralization is carrying nickel, copper, cobalt sulphides. With our ongoing IP work and existing drill
ready targets, there remains significant opportunity for new discoveries to be made across the
underexplored 40 km
2
project."
Following the program at Montcalm, the technical team will begin preparations to commence drilling
on the A Zone at its Warren project in early January. The A Zone has a surface strike length of
approximately 120 meters exposed in a series of surface trenches. Confirmation work by Company
geologists on the A Zone, as well as other target zones, returned significant base metal numbers in
grab samples. Excellent copper values were noted in the A Zone trenches which
ranged from 1.075%
to 2.08% Cu.
Nickel values of interest 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, which
ranged from
10.3 ppm to 23.8 ppm silver,
were associated with some of the better Cu values on the A Zone
.
(See
press release September 20, 2023).
Both the Montcalm and Warren projects are located northwest of Timmins, Ontario, approximately 35 km
apart, along the Montcalm Mine Road. (See Figure 1). The Montcalm Project surrounds Glencore's
former Montcalm Mine which had historical production of approximately 3.93 million tonnes of ore
grading 1.25% Ni, 0.67% Cu and 0.051% Co. (Ontario Geological Survey, Atkinson, 2010).
RATIONALE FOR MONTCALM EXPLORATION:
Historical work at the Glencore mine site demonstrated that in addition to the higher-grade Ni Cu Co
lenses at the mine, there is potential for disseminated mineralization. In some instances, this type of
mineralization is associated with a magnetic high and no coincident electromagnetic (EM) response (ex.
Hole MAC9731 in Figure 3). 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; these represent valid exploration
targets.
Both disseminated and/or stringer mineralization as well as massive mineralization responds
well to IP surveying and Mink's approach at Montcalm utilizing both borehole IP and surface IP surveys
rather than EM has proven successful in generating significant new 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
Figure 2 - light blue unit.) Current IP work is targeting the contact of the gabbro phase and a breccia
zone contact associated with a strong magnetic response.
Mink's 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.
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.
Figure 1: Location Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8332/188799_minkfig1.jpg
Figure 2: Montcalm Gabbro Complex Geology
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8332/188799_9aa4d06374460aa5_002full.jpg
Figure 3: Compilation Map - Magnetics, Historic Drill Holes & Target Areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8332/188799_9aa4d06374460aa5_003full.jpg
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
17,902,984
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.sedar.com
.
Forward-Looking Statements
This press release includes certain "forward-looking information," including, but not limited to,
statements with respect to the prospectivity of the Montcalm and Warren Projects. 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 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 accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/188799