Toronto, Ontario--(Newsfile Corp. - December 13, 2023) - Mink Ventures Corporation (TSXV: MINK) ("Mink" or the "Company") today announced that it has received an $80,000 Ontario Junior Exploration Grant (OJEP) towards exploration at its Warren nickel copper cobalt project located 35 km west of Timmins, Ontario. The drill program is expected to begin in early January 2024.
Mink will begin drilling on the A Zone which has a surface strike length of approximately 120 meters exposed in a series of surface trenches. Drilling will focus on testing the A zone down plunge and below the estimated 60-meter vertical evaluation by previous operators. Confirmation work by Company geologists on the A Zone, as well as other target zones, returned significant base metal numbers. Excellent copper values were noted in the A Zone trenches which ranged from 1.075% to 2.08% Cu. Nickel values from the A zone ranged from 0.313% to 0.348% Ni. Cobalt values ranged from 0.0389% to 0.0498% Co. Some interesting silver values, which ranged from 10.3 ppm to 23.8 ppm silver, were associated with some of the better copper values on the A Zone. (See press release September 20, 2023.) There are two other zones (B & C) along with a number of untested base metal occurrences and untested geophysical anomalies which will be tested in a phase 2 program.
"Ontario's success as a global mining leader relies on our resolute determination to foster collaboration, encourage industry growth and innovation, and promote Northern Ontario as a superior destination for industry investment," said George Pirie, Minister of Mines. "Our government's investments through OJEP in early exploration work, such as Mink Ventures' Warren Critical Minerals project, are creating the ideal conditions for a thriving mining industry that will help drive economic development and lead to the mines of tomorrow."
"We are grateful for the OJEP program and this non-dilutive capital funding it provides which enables us to expand the drill program on the patented mining claims within this highly prospective Warren property. After optioning the property in July 2023, Mink has since expanded the project through staking and acquisitions and it now covers 10.1 km2. The Company has also acquired a 0.5% NSR on the patents," said Natasha Dixon, President & CEO.
Mink's project has excellent access and infrastructure including an all-weather road to the property, a series of logging roads throughout, and proximity to the Timmins Mining Camp, enabling cost-effective mobilization and exploration.
Qualified Person
Mr. Kevin Filo, P. Geo (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV: MINK) is a Canadian mineral exploration company exploring for critical minerals (nickel, copper, cobalt) at its Warren and Montcalm projects, in the Timmins, Ontario area. Mink's flagship Montcalm Project, covers 40 km2 adjacent to Glencore's former Montcalm Mine which had historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010). Its Warren Ni Cu Co Project is located 35 km away. Both projects have excellent access and infrastructure with an all-weather access road and power as well as its proximity to the skilled labour and facilities of the Timmins Mining Camp. The Company has 17,902,984 shares outstanding.
Figure 1: Location Map
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For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E:ndixon@minkventures.com or Kevin Filo, Director, T: 705-266-6818 or visit www.sedarplus.ca.
Forward-Looking Statements
This press release includes certain "forward-looking information", including, but not limited to, statements with respect to the prospectivity of the Warren Project. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MINK to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of exploration work; inability to raise the money necessary to incur the expenditures required to retain and advance the Warren Project; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, or delays in obtaining governmental approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to MINK's filings with Canadian securities regulators available on SEDAR. These forward-looking statements are made as of the date hereof and MINK disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
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.
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