Northcore Resources and Melkior Resources Commence Exploration on Their West Timmins JV Property
04.11.2014 | Newsfile
Montreal, November 4, 2014 - Northcore Resources Inc. (TSXV: NCR) and Melkior Resources wish to announce the start of exploration on their West Timmins joint venture property also known as the Bristol property. <The property located in the northeast corner of Carscallen Township, is composed of three mining claims covering an area of 192 hectares. A 2010 geo-physical survey done by Geotech under a contract from Melkior indicates the presence of a very strong VTEM electromagnetic conductor without any magnetic association. The geometry of the conductor suggests the possible potential for a volcanogenic massive sulphide ("VMS") deposit. Three lines of Max-Min and Magnetics will be carried out to define the conductor(s). The lines will be spaced at 100 meter intervals and will have lengths between 700 and 900 meters. Subject to the identification of interesting geophysical anomalies Fall drilling is anticipated. It has been postulated that the VTEM conductor straddles an unexposed contact between sericitized felsic volcanics and titanium rich mafic metavolcanics which is a classic setting for VMS mineralization.
The Bristol property is 100% owned by Melkior, the operator, with Northcore Resources Inc. having the right to earn 50%.To earn its 50% interest Northcore must complete $200,000 of exploration work before the end of October 2016. Melkior will be incurring the expenditures and will present a reimbursement request to Northcore once the work is completed.
The contents of this press release have been reviewed by Peter Caldbick, P.Geo, the Timmins area Project Manager for Melkior Resources Inc. and Northcore Resources Inc. and a Qualified Person as defined by National Instrument 43-101.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Northcore's periodic reports including the annual report or in the filings made by Northcore from time to time with securities regulatory authorities.
For further information, please contact:
Northcore Resources Inc.
Garry Majerle, Chairman of the Board of Directors
Tel : (519) 697 6945
Northcoreres@gmail.com