Nortec Confirms Gold Mineralization at Tammela
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/01/11 -- Nortec Minerals Corp. (TSX VENTURE: NVT)(PINK SHEETS: NMNZF)(FRANKFURT: WMQ) ('Nortec' or the 'Company'), is pleased to announce that it has confirmed the presence of gold mineralization in the northern part of the Company's Tammela Project ('Tammela') in southern Finland. The Company holds a 100% interest in Tammela.
Highlights:
-- 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)
-- 2.50 metres @ 6.81 g/t Gold from 61.35 metres (Hole R357 - Riukka
Prospect)
In September 2010, Nortec converted the 2,500 hectare claim reservation that covers the Tammela Lithium Project into 30 contiguous claims for a total of 1,511 hectares. During this process, Nortec was able to include two gold prospects, Riukka and Satulinmaki, located only 1 kilometre north and 5 kilometres north-west respectively of the main zone of lithium mineralization identified on the Kietyonmaki prospect that initially made up the Tammela Project.
Further research on the two prospects, including site visits, identified that during the 1990's, the Geological Survey of Finland (GTK) drilled 39 holes at the Riukka prospect and 57 holes in the Satulinmaki prospect targeting geochemical anomalies with elevated gold. Last quarter, Nortec carried out a relogging and select re-sampling programme of available drill core stored at the GTK's core storage facility in the town of Loppi, north-west of Helsinki.
Fifteen holes (9 from Riukka and 6 from Satulinmaki) were available for inspection. The drill core was geologically logged to identify the styles and controls of gold mineralization from both prospects. Samples were selected from 13 of the 15 holes logged for a total of 414 samples (141 samples from Riukka and 273 from Satulinmaki). The best assay intervals from the samples taken by Nortec are shown in the Table 1 below. Best assay results from Riukka drill holes not available for inspection but documented in public domain GTK reports are shown in Table 2.
Table 1: Best drill intercepts from Nortec sampling of archive drill core.
---------------------------------------------------------------------------
From To Interval Gold
Hole_ID (m) (m) (m) g/t Prospect Comments
---------------------------------------------------------------------------
R329 13.40 20.50 7.10 1.67 Satulinmaki Nortec sampling
---------------------------------------------------------------------------
R330 51.00 88.70 37.70 1.03 Satulinmaki Nortec sampling
---------------------------------------------------------------------------
including 58.50 61.50 3.00 3.85 Satulinmaki Nortec sampling
---------------------------------------------------------------------------
including 84.20 88.70 4.50 3.37 Satulinmaki Nortec sampling
---------------------------------------------------------------------------
R332 19.60 20.60 1.00 1.16 Riukka Nortec sampling
---------------------------------------------------------------------------
R333 NSI NSI NSI NSR Riukka Nortec sampling
---------------------------------------------------------------------------
R334 29.20 34.20 5.00 1.60 Satulinmaki Nortec sampling
---------------------------------------------------------------------------
R340 20.80 31.80 11.00 0.48 Satulinmaki Nortec sampling
---------------------------------------------------------------------------
R356 20.00 30.00 10.00 2.47 Riukka Nortec sampling
---------------------------------------------------------------------------
including 21.00 24.00 3.00 7.37 Riukka Nortec sampling
---------------------------------------------------------------------------
R357 61.35 63.85 2.50 6.81 Riukka Nortec sampling
---------------------------------------------------------------------------
R358 NSI NSI NSI NSR Riukka Nortec sampling
---------------------------------------------------------------------------
R366 NSI NSI NSI NSR Riukka Nortec sampling
---------------------------------------------------------------------------
R374 53.00 56.00 3.00 0.66 Riukka Nortec sampling
---------------------------------------------------------------------------
R385 13.00 15.00 2.00 1.57 Satulinmaki Nortec sampling
---------------------------------------------------------------------------
R386 40.00 43.00 3.00 0.56 Satulinmaki Nortec sampling
---------------------------------------------------------------------------
Notes: Samples taken by Nortec were submitted to ALS Chemex in Outokumpu for
Ore grade Gold by fire assay with an AAS finish (FA-AAS). Best intercepts
were calculated using a cut-off grade of 0.4g/t Gold and a maximum internal
waste of 2 metres. NSI = No significant Interval. NSR = No significant
Result.
Table 2: Best drill intercepts from GTK drill core at Riukka
---------------------------------------------------------------------------
From To Interval Gold
Hole_ID (m) (m) (m) g/t Prospect Comments
---------------------------------------------------------------------------
R353 3.50 4.50 1.00 35.50 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R354 36.10 36.90 0.80 1.92 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R363 50.00 51.50 1.50 0.54 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R363 81.30 82.30 1.00 0.50 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R364 53.00 59.00 6.00 0.50 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R365 17.00 18.00 1.00 1.69 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R369 NSI NSI NSI NSR Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R370 18.00 19.00 1.00 1.28 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R373 NSI NSI NSI NSR Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R375 31.00 42.00 11.00 0.60 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R376 47.50 48.50 1.00 1.17 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R377 37.00 38.00 1.00 0.64 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R378 61.00 63.00 2.00 0.77 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R399 NSI NSI NSI NSR Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R400 25.20 30.70 5.50 2.00 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R401 NSI NSI NSI NSR Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R402 NSI NSI NSI NSR Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R403 53.60 54.60 1.00 0.67 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R404 22.10 23.10 1.00 2.22 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R406 17.70 18.70 1.00 0.56 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R407 NSI NSI NSI NSR Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R408 73.00 74.00 1.00 0.61 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R410 NSI NSI NSI NSR Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R411 42.50 43.10 0.60 1.10 Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R412 NSI NSI NSI NSR Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
R433 NSI NSI NSI NSR Riukka GTK REPORT : 2007
---------------------------------------------------------------------------
Source: GTK report 'Karkkainen et al., 2007. GTK Report
M06/2024/2007/1/10/69'
The Riukka and Satulinmaki gold prospects are situated in the Hame Schist Belt in southern Finland, dominated by mafic and felsic to intermediate metavolcanic rocks. Gold mineralization at Riukka is hosted within the arsenopyrite-pyrrhotite bearing quartz veins and biotite-altered and silicified wall rock that is over 100m wide and can be traced for over 1km along an east-west strike. Gold mineralization at Satulinmaki is hosted within sulphide-tourmaline rich quartz veins within a 400m wide biotite-altered and silicified wallrock along a 700 metre northeast-southwest strike. Wide zones of mineralization at Satulinmaki are confirmed by the intersection in drill hole R330 (37.70 metres of 1.03 g/t gold).
The significant drillhole intersections have been projected onto the Satulinmaki and Riukka GTK-generated surface geology map confirming that the mineralization is hosted in several discrete sub-parallel steeply plunging significant mineralized quartz-vein hosted shoots. This suggests these shoots have the potential to form bulk-tonnage gold deposits.
Ian Laurent, President of Nortec states, 'The Company is excited to not only have a 100% interest in a project that contains an important strategic commodity like lithium, but that within that same project, only 1 km to the north of the main lithium prospect, there is near-surface gold mineralization delineated and systematically studied by the GTK. Nortec confirmed the GTK results by re-sampling the archive drill holes. This really does create a new dynamic in how the company will conduct exploration in this multi-commodity district. We are looking forward to adding to this discovery with the aim of delineating potential gold resources along with lithium from the Tammela Project.'
With the addition of the Riukka and Satulinmaki gold prospects, along with the original Kietyonmaki lithium prospect, Nortec regards the Tammela Project as an important and strategic acquisition. An exploration programme is being designed to help further delineate the bulk-style gold mineralization over wide widths identified at Riukka and Satulinmaki.
Gold exploration and mining has been very active in the Tampere-Hame district since 2001. Australian mining company, Dragon Mining, is operating the Orivesi and Jokisivu Gold Mines, approximately 80km north of the Nortec's Tammela Project.
The Kietyonmaki Prospect, to the south of Riukka, remains an important area as it contains significant lithium mineralization; including 9 metres @ 1.03% Lithium (see Nortec News Release February 10, 2010). The lithium mineralization is also complemented by very low iron and magnesium content. Demand for lithium, continues to grow due to lithium applications in automobile and hi-tech batteries. Lithium projects in Finland have become increasingly important to European manufacturers as it addresses their concerns regarding security in the supply of lithium.
Mr Turkka Rekola, M.Sc,, Project Geologist - Finland and, Mr Ian F. Laurent MSc.(EconGeol) MAIG RPGeo, President for Nortec, are the persons responsible for initiating and guiding of the work programs on the Tammela Project. Ian F. Laurent is the Qualified Person responsible for the contents of this press release.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has a 100% interest in the Tammela Gold & Lithium Project in south-west Finland; a 100% interest in the LK Palladium-Platinum-Gold-Copper-Nickel Project in north-central Finland; an option to earn from Akkerman Exploration B.V., a 100% interest in the Seinajoki Gold Property and Kaatiala Beryllium-Rare Earth Property in western Finland; a minimum 51% interest with an option to earn 100% interest in the TL Nickel-Copper-Cobalt Property in Northern Labrador, Canada; and, an option to acquire 51% interest in the Ganarin Gold-Silver Property, Ecuador.
On behalf of the Board of Directors
NORTEC MINERALS CORP.
Mohan R. Vulimiri, Executive Chairman & CEO
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.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
Contacts:
Nortec Minerals Corp.
Ian F. Laurent
President
1 604-717-6426
Nortec Minerals Corp.
Mr. Mohan Vulimiri
Chairman and CEO
1 604-717-6426
1 604-683-9649 (FAX)
www.nortecminerals.com