Toronto, Ontario--(Newsfile Corp. - February 27, 2024) - Mink Ventures Corporation (TSXV: MINK) ("Mink" or the "Company") today announced it has completed a 507 meter drill program, in six drill holes, at its Warren Copper Nickel Project. All six holes intersected sulphide mineralization. A total of 144 core samples were submitted for analysis and results are pending. The drill program confirmed that there is an excellent correlation between surface geophysical survey responses including magnetics, electro-magnetic (EM) responses (conductivity), induced polarization (IP) responses with surface sulphide mineralization in historical trenches, and recent drill intercepts. The Warren property covers 1,010 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario. (See Figure 1.)
The "A" Zone (see Figure 2) was the focus of this initial drill program. It was selected as a high priority target for drill testing as a result of geological data review, a field examination, and a confirmation sampling program conducted by company geologists during the summer of 2023. The A zone is exposed in historical trenches over a strike length of 120 meters. Mink's grab samples on the A zone returned assay values ranging from 1.075% to 2.08% copper (Cu). Nickel (Ni) values ranged from 0.313% to 0.348% Ni. Cobalt (Co) values ranged from 0.0389% to 0.0498% Co and silver (Ag) values of interest ranged from 10.3 ppm to 23.8 ppm Ag. (See press releases: February 5, 2024, September 20,2023.)
PROPERTY HIGHLIGHTS:
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Five of the six drill holes intersected the A zone sulphide mineralization over broad, near surface intervals ranging from 11 to 30.4 meters. The objective of the drill program was to determine the geometry of the zone and confirm the tenure of base metal grades of this zone. Jade Oil and Gas drilled 23 holes to test Zones A and B in the mid 1950's and outlined a historical non-compliant NI43-101 resource* of 385,000 tons of 1% Cu + Ni.
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The sixth hole (W24-4) intersected a 4.5 meter zone of mineralization in the upper portion of the hole. This intersection is interpreted to be the northern extension of the "B" Zone. This extends the strike of the "B" zone by approximately 75 meters beyond the historical trenched outcrop area for a total interpreted strike length of approximately 200 meters. Two historical bulk samples on the B zone returned 0.21% Cu, 0.96% Ni, 0.11% Co and 0.10% Zinc (Zn), and a second bulk sample returned 2.83% Cu, 0.58% Ni, 0.10 Co and 0.13 Zn.
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The preliminary surface examination and sampling of trenches, along with the recent drill program, has given company geologists significant insight into the nature of the mineralization on the property. Drilling has confirmed an excellent correlation between surface geophysical survey responses including magnetics, electro-magnetic (EM) responses (conductivity) and induced polarization (IP) responses and the mineralized A zone surface trenching and recent drill intercepts.
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The team is looking forward to receiving and reporting results and returning to continue exploration and drilling at Warren on the A zone and as well as the numerous other priority targets outlined on several other zones across the property.
*The resource calculation is historical in nature and is not NI43-101 compliant; it is not to be relied upon and is reported as a historical statement only. Note: Certain historical information pertaining to a historical resource estimate, is disclosed in this press release. The methods and parameters used to prepare this estimate and the category of the estimate is unknown. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the issuer is not treating the historical estimate as current mineral resources or reserves.
References: Technical Report for Western Troy Capital Resources on the Warren Property (W. Hawkins P. Eng, 2021) and Maxmin, Magnetometer and VLF Surveys Evaluation Report, Whitesides and Massey Twp. Claims (C. Mackenzie Consulting Geologist, 1990).
WARREN PROPERTY GEOLOGY
Mink's Warren Project is hosted within the Kamiskotia Gabbro Complex (KGC) and is thought to be broadly equivalent to the Montcalm Gabbro Complex (MGC) but separated by a granitic arch. The MGC hosts the former Montcalm Mine which produced approximately 3.93 million tonnes grading 1.25% Ni, 0.67% Cu and 0.05% Co (OGS, Atkinson, B., 2010).
Gabbro complexes such as MGC and KGC are known to be prospective for magmatic nickel copper sulphide deposition as demonstrated by the Montcalm Mine located within the MGC. The Warren property complements Mink's Montcalm property due to the distinctly similar prospective geological environments found in the MGC and the KGC, as well as the presence of significant Cu Ni zones on the Warren Property.
The Warren patents have had a sporadic exploration history since the late 1920's to present day and a number of promising historical mineralized Cu Ni zones were outlined. The majority of the exploration completed to date on the property was completed in an area representing a very minimal portion of the property and completed well over 60 years ago. More recent geophysical surveys from the early 1990's and 2008-2009 outlined a series of untested targets along strike from known mineralization and/or new targets proximal to known mineralization. These targets are particularly evident in the accompanying magnetic and IP compilation map shown in Figure 3.
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 18,810,534 shares outstanding.
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 Warren Project, the exploration work required to exercise the option, and the prospectivity of the Warren Project and the Montcalm 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 and Montcalm 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 and stock exchange 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 ac curacy of this release.
Figure 1: Location Map
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Figure 2: Trench and Drill Hole Location Map
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Figure 3: Compilation Map (IP & Magnetics)
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199320
