El Nino Ventures Acquires Three New Gold Projects in the Northern Peninsula of Newfoundland. The three new gold projects are the NP Gold Project, SA1 and SA2 gold projects. The new land position contains geology similar to that of White Metal Resource’s new
El Nino Ventures Acquires Three New Gold Projects in the Northern Peninsula of
Newfoundland.
The three new gold projects are the NP Gold Project, SA1 and SA2 gold projects.
The new land position contains geology similar to that of White Metal Resource’s new
gold discovery, Gunners Cove.
The company is presently planning a program with follow up field work planned for the
spring of 2018.
The company is currently assessing other gold and base metal projects
January 9th, 201 8 Vancouver, Canada – El Nino Ventures Inc (TSX.V: ELN; OTCQB: ELNOF; FSE:
E7Q.F) is pleased to announce that it recently acquired, through staking, 100% of three gold
projects in the Great Northern Peninsula of Newfoundland (Figure 1). The claims were staked to
follow up on the new Gunner Cove gold discovery of White Metal Resources
Figure 1: El Nino Venture Gold Projects – Great Northern Peninsula, Newfoundland and Labrador
The three claim blocks are situated around the city of St. Anthony and northward (Figure 2),
covering approximately 22 kilometres of favorable geology, similar to that being encountered on
the Gunners Cove Project to the east and north of the company’s three gold projects . The claim
blocks consist of 218 claim units for approximately 18,980 hectares (46900.41 Acres).
Figure 2: Claim Distribution map in the St. Anthony’s area of Newfoundland and Labrador
The White Metal Resources recently announced ( Newsfile Corp. - November 20, 2017 ) significant
amounts of highly anomalous gold assays over an area of 15 kilometres in black shale units of the
Hare Bay and Goose Tickle Formations. Mic hael Stares, President of White Metal Resources states
in the November 30th, 2017 news release that ; “Of the 156 rock samples, 99 were collected from
the main area of the black shale unit. On the basis of the results from the 99 samples, the
Company has expanded the gol d (Au) mineralization to the north by approximately 3.75km, to
the east-northeast by approximately 3.2 km, and to the south by about 1.3 km. Approximately
50% of the grab samples collected in the Gunners Cove area assayed 100 ppb Au (0.1 g/t Au) or
greater, with a maximum of 2.14 g/t Au. Silver assay results are also elevated, ranging from less
than 5 ppb Ag to a maximum of 9.1 g/t Ag (note: grab samples are selective by nature and are
unlikely to be representative of average grades). Our recent work at the Gunners Cove Property
has highlighted a large area of anomalous gold values and extended the discovery area
substantially. Historically, this Property has seen very little exploration work (minor prospecting),
adding to the importance of this new gold dis covery. Precious metal mineralization is associated
with and appears to be largely hosted by pyritic nodules and stringers accompanied by minor
silicification and local brecciation, and hosted by an extensive black shale unit.”
ELN President and COO Trevor Richardson states; “The Company is excited to have three new gold
projects and exploring the gold potential of the Great Northern Peninsula of Newfoundland.
Newfoundland is a treasure chest of mineral possibilities and is a mining friendly jurisdiction. We
look forward to working in Newfoundland as well as assessing new projects that will fit the El
Nino strategy.”
About El Nino Ventures
El Nino Ventures Inc. (ELN) has in the past years been an international base metals exploration
company with its focu s being on the Murray Brook Project in the Bathurst region of New
Brunswick, Canada.
ELN signed an option to purchase agreement regarding the sale of its interest on this project
(News Release: Oct 13th, 2016) with Puma Explorations for $3.1 million dollars, Recent revisions
(News Release: Nov 6 th, 2017 ) with regard to the Puma Exploration deal has the second
payment from Puma of $1,500,000 due for May 10th, 2018 . The 3 rd and final payment of an
additional 1 million (total 3.1 million) is due by April 30 2019. In addition, a royalty for the life of the
project will be paid to ELN as per spelled out in the agreement (News Release: Oct 13 th, 2016). In
the event Puma does not complete it option to acquire ELN s interest ELN will receive its entire
interest in the Murray Brook project back.
The Company also has an Aggressive Mineral Acquisition Program Underway with a focus on gold
and base metal projects that are a mix of grass roots, brownfields and advanced stage projects.
The Company plans to use the Prospector Generator Model which reduces risk, share dilution and
increases discovery potential.
Qualified Person
The contents contained herein that relate to Exploration Results or Mineral Resources is based on
information compiled, reviewed or prepared by Carey Galeschuk , P.Geo, a consulting geoscientist
for El Nino Ventures. Mr. Galeschuk is the Qualified Person as defined by National Instrument 43 -
101 and has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
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.
Cautionary Note Regarding Forward Looking Statements: This release contains forward -looking statements that involve risks and
uncertainties. These statements may differ materially from actual future events or results and are based on current expect ations or
beliefs. For this purpose, statements of historical fact may be deemed to be forward -looking statements. In addition, forward
looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “ believe”,
“anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or
similar expressions. These statements by their nature involve risks and uncertainties, and actual results may d iffer materially
depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to ti mely
and completely make available adequate current public information, additional or different regulatory and leg al requirements and
restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR
(www.sedar.com), including the most recent reports that identify important risk factors that could cause actual resul ts to differ from
those contained in the forward -looking statements. The Company does not undertake any obligation to review or confirm analysts’
expectations or estimates or to release publicly any revisions to any forward -looking statements to reflect ev ents or circumstances
after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forw ard
looking statements.