Nikos Explorations Announces Positive Results of Soil Gas Hydrocarbon Survey at Borden Lake Extension Project
23.09.2013 | Marketwire
VANCOUVER, Sept. 23, 2013 - Nikos Explorations Ltd. (TSX VENTURE:NIK) ("Nikos") is pleased to announce the results of an initial soil gas hydrocarbon ("SGH") survey recently completed at the Borden Lake Extension Project near Chapleau, Ontario. The SGH survey was completed over an area covering magnetic lineaments designated for follow up in order to identify anomalies that may be associated with gold mineralization in areas of poor outcrop.Several SGH anomalies, potentially indicative of gold mineralization, were identified by Actlabs of Ancaster, Ontario, following their analysis of the soil samples (See map at http://nikosexplorations.com/projects/borden_lake/). The interpretation suggests the anomalies have the highest possible rating of 6.0 (out of 6.0) based on the interpretation of SGH pathfinder classes known to be associated with buried gold deposits. A large number of SGH gold pathfinder maps provided confirmatory evidence for the positive interpretation of the SGH data.
"We are very excited about the suggestion of gold mineralization on our Borden Lake Extension Project, especially given the proximity to Probe Mines' growing Borden Lake Deposit," said President Roger Moss. "We intend to continue exploring this area to delineate drill targets to test the gold potential."
This initial SGH survey covers an area where several magnetic lineaments, one of which is interpreted to be a fault, intersect (see News Release dated May 28, 2013). Another lineament, apparent on a shaded relief map, also exists in the area and trends in the same north-west south-east direction as the SGH anomalies, which remain open in both directions.
Follow up work would include extending the SGH survey to the northwest and southeast and an induced polarization/resistivity survey over the same area to enable definitive drill targeting.
About Borden Lake Extension:
The Borden Lake Extension Project lies immediately east of Probe Mines' Borden Lake gold property where recent exploration has defined pit constrained indicated resources of 3,686,000 ounces of gold (112,844 M tonnes grading 1.02g/t gold) and inferred resources of 625,000 ounces of gold (18,036 M tonnes grading 1.08g/t gold) at a 0.5g/t cut off grade. Exploration carried out by Nikos is the first known work on the property, which is located in the Kapuskasing structural zone. Nikos holds an option to earn a 100% interest in the property. Note that mineralization on the Probe Mines property may not be representative of mineralization that may be found on the Nikos Property, nor is there any guarantee that economic mineralization will be identified on the Nikos Property.
About Nikos Explorations:
Nikos Explorations is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in the Americas. The company has 44,475,406 shares issued and outstanding and trades on the TSX Venture Exchange under the symbol NIK.
Roger Moss, PhD., P. Geo., is the qualified person for all technical information in this release.
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.
CONTACT INFORMATION
Nikos Explorations Ltd.
Roger Moss, President
416-516-6050
www.nikosexplorations.com