TORONTO, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Mink Ventures Corporation (TSXV:MINK) (“MINK” or the "Company") today announced that it has acquired a 100% interest in the Gambler property, consisting of 296 mining cell claims (59.2 km2), from Voltage Metals Corporation (CSE:VOLT). Total consideration for the claims is a 2% net smelter return royalty (NSR) on those claims, granted in favour of Voltage Metals Corporation. The Gambler property is contiguous to the Mink/Voltage Montcalm (80:20) joint venture property. Mink’s Montcalm and Gambler properties combined cover approximately 100 km2, across five townships. They are located, in the emerging Timmins Nickel District, approximately 55 road kilometers northwest of Timmins, Ontario (see Figure 1).
HIGHLIGHTS:
- The Gambler claims acquisition is a strategic, non-dilutive addition to Mink’s nickel copper cobalt exploration portfolio.
- Mink now holds a camp-sized (100 km2) land package within the highly prospective Montcalm Gabbro Complex (MGC), adjoining the former Glencore Montcalm nickel mine, with historical production of 3.93 million tonnes @ 1.25% Ni, 0.67% Cu and 0.05% Co (Reference: OGS Report, Atkinson, 2010).
- The Gambler claims cover 11 km of an ultramafic (peridotite/dunite) unit, considered highly prospective for nickel copper mineralization. The ultramafic unit is underexplored and has not been surveyed with new state-of-the-art deeper penetrating airborne electromagnetic (EM) or gravity surveys (see Figure 2).
- Mink now controls two of the most highly prospective portions of the MGC; including 10 km2 of the Gabbro Phase of the MGC, which hosts the Montcalm Mine, as well as 11 km of strike length of the ultramafic unit (peridotite/dunite) horizon within the Gambler property.
- Evaluation of these new claims is forecast to begin following the diamond drill program at Mink’s nearby Warren Ni Cu Co project, which is slated to begin in the next few weeks, when freeze up occurs.
“Consolidating claims over 100 km2 to control a contiguous, camp-sized project that covers the majority of the Montcalm Gabbro Complex responsible for the adjacent, past producing, Montcalm nickel sulphide mine is an enviable position for Mink from a both geological and corporate perspective,” said Natasha Dixon, Mink President and CEO.
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 in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its Montcalm project, which now covers approximately 100 km2 adjacent to Glencore’s former Montcalm Mine with 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), as well as the expanded Warren Project. These complementary nickel copper cobalt projects have excellent access and infrastructure and are in close proximity to the Timmins Mining Camp. The Company has 22,456,488 common 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 prospectivity of the Gambler, Montcalm, and Warren Projects. 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 Gambler, 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: Mink’s Project Location Map (Montcalm, Gambler, and Warren Claims Map)
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b08fd3f-9c5d-4548-afa7-f27eaae0a3ce
Figure 2: Montcalm Gabbro Complex
https://www.globenewswire.com/NewsRoom/AttachmentNg/aad1d46a-80c7-4995-8887-a3da2c56f090
