Nortec Minerals announces Option to acquire 100% interest in the Cottonwood
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 2000, 1066 West Hastings Street
Vancouver BC V6E 3X4, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
Nortec Minerals announces Option to acquire 100% interest in the Cottonwood
Vanadium-Uranium Project, Utah
Vancouver, BC / The Newswire / March 8, 2019 – NORTEC MINERALS CORP. (the “Company”
or “Nortec”) (TSXV: NVT): Nortec announces the signing of a Letter of Agreement with Utah
Mineral Resources LLC. (“UMR”) a private Utah Company, to acquire a 100% interest in the ir
Cottonwood Vanadium -Uranium Project (“Cottonwood” or “Property” ) located in Garfield
County, Utah, USA (Figure 1) . UMR located at Kaysville, Utah has sole exclusive right, title ,
interest and ownership of Cottonwood.
Terms of Agreement
1. A total cost of US $200,000 consisting and composed solely and exclusively of four (4)
million fully paid ordinary shares of the capital of Nortec, at a deemed price of $0.05
per share;
2. The shares to be issued on receipt of acceptance and approval by the TSX Venture
Exchange and regulatory authorities; and,
3. With the purchase, UMR is also entitled to receive a 1% NSR on any production from
Cottonwood. The 1% NSR may be reduced to 0.5% by Nortec at any time by paying
UMR US $500, 000 on or before the 5 -year anniversary of the Property Purchase
Closing Date.
Cottonwood Vanadium-Uranium Property
The Cottonwood Property is located In Garfield County , Ut ah that is approximately 372
kilometres (230 miles) by road southeast of Salt Lake City, Utah. UMR holds contiguous mining
lode claims, comprising 736 hectares (1,818 acres) within Township 32 South, Ranges 11 and
12 East. The claims are located on feder al land and administered by t he US Bureau of Land
Management (Figures 1 & 2).
The Property is situated in the Cottonwood Wash -Trachyte vanadium-uranium district, Henry
Mountains Basin. It is underlain by sub -horizontal Mesozoic sedimentary rocks (Figure 3). The
Henry Mountains to the west are formed by mid -Tertiary intrusions of intermediate to mafic
rocks and basalts. Vanadium -Uranium deposits in the Project area occur within the Salt Wash
Member fluvial sandstones of the Late Jurassic Morrison Formation and the Shinarump
conglomerates of the older Triassic Chinle Formation. The Salt Wash sandstones are overlain
by the conglomeratic sandstones and shales of the Brushy Basin Shale Member and overlies
sedimentary rocks of the Summerville Formation.
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 2000, 1066 West Hastings Street
Vancouver BC V6E 3X4, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
Most of the vanadium-uranium deposits within the Salt Wash Member occur 100 to 150 feet
(30 to 45 meters) above the Salt Wash -Summerville contact, with better grades along the
lower portions of thicker (20 -60 feet or 6 -18 meters ) sandstone. The majority of thes e
mineralized zones appear to occur directly beneath the conglomeratic sandstone strata of the
Brushy Basin.
The Project area contains historical vanadium and uranium mineral occurrences, prospects and
underground workings (Figure 3). The project area is also underlain at depth by the vanadium-
hosting, Jurassic Entrada Sandstone and Triassic Shinarump Conglomerate formations, which
are favorable for potential discoveries.
The majority of the deposits are located in an elongated cluster in eastern Garfiel d County,
Utah. The deposits, discovered in 1913, were intermittently mined first for radium, and then
for vanadium. Up to 1944, nearly 500 tons of high -grade ore were mined . During the period
1948 through 1978, some 130 properties in the Henry Mountains had produced 79,500 tons of
ore with an average grade of 0.30 percent U 3O8 and containing 474,500 pounds of uranium
oxide (U 3O8). In addition, vanadium has been recovered from 63,000 tons with an average
grade of 1.35 percent V 2O5 and containing 1,694,100 pounds of vanadium oxide (V 2O5) (Re:
W.L. Chenoweth, 1980, Henry Mountains Symposium, Utah Geological Association).
Mohan R. Vulimiri, M.Sc., P . Geo, Director and CEO of Nortec Minerals, is a Qualified Person as
defined by NI 43-101. Mr. Vulimiri has approved the corporate and technical content contained
in this press release.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British
Columbia. Nortec earned a 51% interest of Tomboko Gold Project by incurring exploration
expenditures of US$ 1 million and completing Phases 1 and 2 of the Definitive Option
Agreement (Agreement) entered with The Golden Rule Mining Inc. in 2017. The Tomboko
Gold Project is surrounded by producing gold mines in the historic mineral rich North-eastern
area of the Republic of Guinea . It is within the administrative region of Kankan and the
Prefecture of Siguiri and immediately west of the Siguiri Gold Mine operated by An gloGold-
Ashanti. Nortec also spent approximately US$ 1 million of the required US$ 2.5 million to earn
the remaining 29%. This will convert to pro-rata interest as defined in the Agreement.
The Company has a 20% interest in the Tammela Gold & Lithium Project in South-West Finland.
Sunstone Metals (f ormerly Avalon Minerals), a public Australian mining company has earned
the 51% interest and the 29% Stage 2 earn -in interest on the Tammela Project. Sunstone has
completed more than 3,000 meters diamond drilling on the Kietyonmaki lithium prospect and
the Satulinmaki and Riukka prospects that comprise the Tammela Project. Detailed
information on the Company’s projects have been posted on the Company’s website
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 2000, 1066 West Hastings Street
Vancouver BC V6E 3X4, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
www.nortecminerals.com.
On behalf of the Board of Directors,
Nortec Minerals Corp.
“Mohan R. Vulimiri”
Mohan R. Vulimiri, CEO and Chairman
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of
this news release. This press release contains certain forward looking statements which involve known and
unknown risks, delays and uncertainties not under the Company’s control which may cause actual results,
performances or achievements of the Company to be materially different from the results, per formances or
expectations implied by these forward looking statements. This news release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities in the United States.
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 2000, 1066 West Hastings Street
Vancouver BC V6E 3X4, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
Figure 1: Location map, Cottonwood Vanadium-Uranium Project.
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 2000, 1066 West Hastings Street
Vancouver BC V6E 3X4, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
Uranium-Vanadium District within Upper Jurassic Morrison Formation strata
Uranium-Vanadium District within Upper Triassic Chinle Formation strata
Farmers Knob – Past Producer
Figure 2: Vanadium-Uranium Districts in the Cottonwood Project area
N
Mount Ellen
Mount Pennell
Mount Hillers
Farmers Knob
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 2000, 1066 West Hastings Street
Vancouver BC V6E 3X4, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
Figure 3: Geology Map with past producers and mineral occurrences, Garfield County, Utah