Nortec Announces VTEM Survey Commencement at the Sturgeon Lake VMS Project, Ontario, Canada
Nortec Announces VTEM Survey
Commencement at the Sturgeon Lake VMS
Project, Ontario, Canada
Toronto, Ontario--(Newsfile Corp. - February 6, 2023) -
NORTEC MINERALS CORP
.
(TSXV: NVT)
("
Nortec
" or the "
Company
") is pleased to announce a Versatile Time Electromagnetic ("VTEM")
geophysical survey at the Sturgeon Lake VMS Project in Ontario has started and is expected to
conclude later this month.
"An ongoing GIS targeting compilation has identified eleven (11) exploration target areas at the
Sturgeon Lake VMS Project.
The current VTEM survey is the first modern survey to be flown over the
property, and will aid in targeting and prioritizing areas for a prospecting, mapping and the soil sampling
program scheduled for H1 2023. These are important steps in systematically advancing the property as
the combined information will define initial drill targets for the next phase of exploration," stated Derrick
Weyrauch, Chairman.
Figure 1
: Sturgeon Lake VMS - Detailed GIS Targeting Compilation. Magnetic background (ON RMI)
and referenced target area information was sourced and interpreted from the public domain. Property
outlined in black.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4874/153658_ec04f8c324ba992c_001full.jpg
Figure 2:
The area in yellow is the VTEM survey area, the black outline is the property boundary, while
the yellow over prints some of the black property outline on the west side of the property.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/4874/153658_ec04f8c324ba992c_002full.jpg
Qualified Person
The technical information in this release has been reviewed and verified by Brad Lazich, P. Geo., a
director of the Company and the Qualified Person as defined by National Instrument 43-101.
Other
The Company also announces that it has granted 2,425,000 stock options to directors, officers,
consultants and advisors, having an exercise price of $0.05 per share and a term of 5 years. 1/3
rd
shall
vest immediately and 1/3
rd
every 6-months thereafter.
About Nortec Minerals Corp.
Nortec is a mineral exploration company that holds 100% interests in two exploration stage critical
mineral (zinc) projects, namely the Mattagami River Zinc and the Sturgeon Lake VMS properties, both
located in Ontario, Canada.
Additionally, the Company holds a 16.4% interest in the Tammela Gold and
Tammela Lithium projects in Southwest Finland. Additional information can be found on the Company's
SEDAR profile at
www.sedar.com
and its website at
www.nortecminerals.com
.
On behalf of the Company,
"Sara Hills"
Chief Financial Officer
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Information set forth in this press release may contain forward-looking statements. Forward-looking
statements are statements that relate to future, not past events. In this context, forward-looking
statements often address a company's expected future business and financial performance, and often
contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements
that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar
expressions. By their nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results, performance or achievements, or
other future events, to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include, among others, risks
associated with project development; the need for additional financing; operational risks associated
with mining and mineral processing; fluctuations in palladium and other commodity prices; title
matters; environmental liability claims and insurance; reliance on key personnel; the absence of
dividends; competition; dilution; the volatility of our common share price and volume; and tax
consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that statements are made and the
Company undertakes no obligation to update forward-looking statements if these beliefs, estimates
and opinions or other circumstances should change. Investors are cautioned against attributing
undue certainty to forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/153658