Mink Ventures Reports Positive Base Metal Assays from Sampling Program at Warren Copper Nickel Project, Timmins, Ontario
Mink Ventures Reports Positive Base Metal
Assays from Sampling Program at Warren
Copper Nickel Project, Timmins, Ontario
Toronto, Ontario--(Newsfile Corp. - September 20, 2023) - Mink Ventures Corporation (TSXV: MINK)
("
MINK
" or the "
Company
") today announced positive base metal assays from a summer sampling
program at its Warren project. The Warren property covers 1,010 hectares of land, located in Whitesides
Township, approximately 35 km west of Timmins, Ontario. (See Figure 1.)
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 accurately 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 were noted in the A Zone trenches;
the better values 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 were also
associated with some of the better copper values on the A Zone, silver values
ranged from 10.3
ppm to 23.8 ppm silver.
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)
The Company plans to begin a diamond drill program at Warren in December, following the
upcoming drill program at Montcalm later this month.
"These results continue to affirm our interest in the base metal potential of this project. Our team has
confirmed mineralization at surface in A, B, and C zones over significant areas.
We recently secured
additional ground in the same geological package to the north and east, which further enhances the
potential of this project. We look forward to continuing our evaluation and reporting to our shareholders,"
said Natasha Dixon, President & CEO.
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.
RECENT SAMPLING PROGRAM DISCUSSION:
The recent sampling efforts, by company geologists, have enabled MINK's team to incorporate this
valuable information into the GIS data base in order to accurately plan and orient the first phase of drilling
at Warren in the highest priority areas.
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 were noted in the A Zone trenches;
the better values ranged from 1.075% to 2.08% Cu.
Nickel
values of interest from the A Zone
ranged from 0.313% to 0.348% Ni.
The Ni and Cu values in the A
Zone were associated with lower grade cobalt values; the cobalt
values ranged from 0.0389% to
0.0498% Co.
Some interesting silver values were also associated with some of the better copper values
on the A Zone, silver values
ranged from 10.3 ppm to 23.8 ppm silver.
Sampling efforts on the B Zone returned modest copper values from historical trenches. Copper values
of interest
ranged from 0.465% to 1.315% Cu
and nickel values of interest
ranged
from 0.301% to
0.439% Ni.
Cobalt values
ranged 0.0379% to 0.0401% Co
.
Very limited sampling was conducted on the C Zone due to time constraints and recent values obtained
in the southern part of the C Zone were low. The C Zone has had extremely limited evaluation in the past
despite some high-quality geophysical targets associated with known historical Cu values. The C Zone
geophysical response extends for approximately 1,000 meters. A future priority C Zone target will be a
horizontal loop electromagnetic target proximal to the shaft with historical Cu values of interest.
Additional prospecting efforts will also be required on the C Zone target to evaluate the 1,000 m strike
length prior to drilling it.
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 focus 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.
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. As a result of this
geophysical data being available, the Warren Project is drill ready, once winter access work is initiated
in late 2023.
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
battery metals in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its
Montcalm project, which covers approximately 40 km
2
adjacent to Glencore's former Montcalm Mine with
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), as well as the recent addition of the Warren copper nickel Project,
These complementary Ni Cu projects have excellent access and infrastructure and are in close proximity
to the Timmins Mining Camp. The Company has 17,902,984 common 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 purchase of mineral claims and of a net smelter returns royalty, TSX
Venture Exchange approval of the purchase agreement, 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/8332/181174_89830c4994085bd9_001full.jpg
Figure 2: Trench Location Map
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/8332/181174_89830c4994085bd9_002full.jpg
Figure 3: Warren Project- Compilation Map
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/8332/181174_89830c4994085bd9_003full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/181174