Toronto, Ontario--(Newsfile Corp. - February 6, 2023) - NORTEC MINERALS CORP. (TSXV: NVT) ("Nortec" or the "Company") is pleased to announce a Versatile Time Electromagnetic ("VTEM") geophysical survey at the Sturgeon Lake VMS Project in Ontario has started and is expected to conclude later this month.
"An ongoing GIS targeting compilation has identified eleven (11) exploration target areas at the Sturgeon Lake VMS Project. The current VTEM survey is the first modern survey to be flown over the property, and will aid in targeting and prioritizing areas for a prospecting, mapping and the soil sampling program scheduled for H1 2023. These are important steps in systematically advancing the property as the combined information will define initial drill targets for the next phase of exploration," stated Derrick Weyrauch, Chairman.
Figure 1: Sturgeon Lake VMS - Detailed GIS Targeting Compilation. Magnetic background (ON RMI) and referenced target area information was sourced and interpreted from the public domain. Property outlined in black.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4874/153658_ec04f8c324ba992c_001full.jpg
Figure 2: The area in yellow is the VTEM survey area, the black outline is the property boundary, while the yellow over prints some of the black property outline on the west side of the property.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/4874/153658_ec04f8c324ba992c_002full.jpg
Qualified Person
The technical information in this release has been reviewed and verified by Brad Lazich, P. Geo., a director of the Company and the Qualified Person as defined by National Instrument 43-101.
Other
The Company also announces that it has granted 2,425,000 stock options to directors, officers, consultants and advisors, having an exercise price of $0.05 per share and a term of 5 years. 1/3rd shall vest immediately and 1/3rd every 6-months thereafter.
About Nortec Minerals Corp.
Nortec is a mineral exploration company that holds 100% interests in two exploration stage critical mineral (zinc) projects, namely the Mattagami River Zinc and the Sturgeon Lake VMS properties, both located in Ontario, Canada. Additionally, the Company holds a 16.4% interest in the Tammela Gold and Tammela Lithium projects in Southwest Finland. Additional information can be found on the Company's SEDAR profile at www.sedar.com and its website at www.nortecminerals.com.
On behalf of the Company,
"Sara Hills"
Chief Financial Officer
info@nortecminerals.com
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
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