Drilling to Commence on the High-Grade Kietyonmaki Lithium Prospect, Tammela Project, Finland
Vancouver, BC / TheNewswire / July 26, 2016 - Nortec Minerals Corp. (the "Company" or "Nortec") (TSXV: NVT) is pleased to announce that Joint Venture earn-in partner, Avalon Minerals ("Avalon") of Milton, QLD, Australia, is initiating a 3000 metre diamond drilling program on the Kietyonmaki Lithium Prospect, Tammela Project, located in Southern Finland. Avalon's press release can be referred to on http://www.asx.com.au/asxpdf/20160726/pdf/438sz2k1rn14mx.pdf, http://avalonminerals.com.au/
The highlights are as follows:
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-Drilling set to commence on the high grade Kietyonmaki Lithium Project in Finland, scheduled for the second half of August.
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-Drilling will follow-up prior detailed exploration work of the Geological Survey of Finland (GTK), which reported a number of high grade intersections from shallow drilling, including:
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-12.9m @ 1.83% Li2O within 23M @ 1.53% Li2O (drill hole R307)
-9m @ 2.2% Li2O within 24m @ 1.3% Li2O (drill hole R310)
-1m @ 3.9% Li2O within 13m @ 1.66% Li2O (drill hole R316)
-High value of 3m @ 4.35% Li2O (drill hole R310)
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-Field work is already in progress over the project area and data compilation of historical results is continuing.
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-Data compilation and field review is also in progress over the Riukka and Satulinmaki gold zones.
Tammela Minerals Oy ("NMO"), the wholly owned subsidiary of Nortec, controls 100% interest in the Somero 1 to 12 and Tammela 1 to 3 claims comprising the Tammela Project. The property hosts the Kietyonmaki Lithium prospect and the Riukka and Satulinmaki gold zones. Avalon has also submitted applications for two Exploration Reservations over an area of 117 km2 around the Somero and Tammela claims. These reservations form part of the Joint Venture with Avalon.
Avalon announced the signing of a drilling contract with Finnish drilling contractor, Kati Drilling, to complete approximately 3,000m of diamond drilling on the Kietyonmaki zone. Approximately 17 holes will be completed, and will test a strike extent of 250m and a depth extent of 250m below surface. The planned drill hole locations with the geology are shown in the figure below.
Drill equipment will be mobilized to the site during the second week of August and drilling is expected to start during the second half of August. Plans for logging and sampling of core have been prepared and accredited laboratories in Sweden and Finland are being assessed for analysis. Initial core assay results are expected to be received in late September. The drilling will allow Avalon to estimate a initial Mineral Resource towards the end of 2016. Drill samples will also allow for preliminary metallurgical test work to be completed in late 2016.
Access to the drill site requires minimal logistical planning as it is located in a timbered area adjacent to farmland and supported by a good road network and local towns.
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About the Kietyonmaki Lithium Project
The Geological Survey of Finland ("GTK") carried out extensive work comprising of geological mapping, prospecting, auger and diamond drilling in the 1970's and 1980's. GTK identified swarms of Lithium (Tin-Tantalum) bearing pegmatite dykes. Significant mineralisation is delineated within the Kietyonmaki Main Dyke ("KMD"), a large spodumene-rich (LiAlSi2O6) pegmatite dyke that can be traced for over 400m (open to the south-east) with an average width of 12 metres. The GTK drilled 17 holes (for 734 metres across 3 section lines) to test the lithium potential of the KMD along 120 metres of strike. The average drill intersection was 18m wide down to 75 metres below natural surface and continues to be open at depth.
A re-logging and re-sampling programme, carried out by Nortec in 2010 on the drill core stored at the GTK core storage facility in Loppi, southern Finland, confirmed GTK's results documented in 1985. Select intervals of the drill core were taken from drill hole R310 that was drilled on the Kietyonmaki prospect. The results are in Nortec's press releases and on Nortec's website.
The GTK calculated a drill weighted-average intercept lithium grade of 1% (1.5% Li2O) for an inferred resource of 400,000 tonnes. The readers and potential investors are advised that these estimates are not compliant with the industry standard National Instrument 43-101 guidelines. Avalon has estimated an Exploration Target of 8 to15 million tonnes grading 1.4 to 1.8% Li2O. The potential quantity and grade is conceptual in nature. To date there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Riukka and Satulinmaki Gold Prospects
Re-sampling by Nortec geologists of the core drilled by GTK on both the nearby Satulinmaki and Riukka gold zones returned significant gold values.. Some of the significant results are 37.7 metres @ 1.03 g/t Gold from 51 metres (Hole R330 - Satulinmaki Prospect), 10.0 metres @ 2.47 g/t Gold from 20 metres (Hole R356 - Riukka Prospect) and 2.50 metres @ 6.81 g/t Gold from 61.35 metres (Hole R357 - Riukka Prospect).
Avalon is carrying out data compilation on both Riukka and Satulinmaki gold prospects. Historical drilling results are currently being reviewed in 3D. Avalon is expecting the data compilation to be completed soon.
Avalon - Nortec Heads of Agreement:
Details of the Heads of Agreement with regards to the formation of the Joint Venture Agreement between Nortec and Avalon can be referred to in the Company's press release dated May 19, 2016.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia.
Information on the Company's projects can be referred to on www.nortecminerals.com.
Mohan R. Vulimiri, M.Sc., P.Geo, CEO, 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
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, performances 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.
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