-
Significant drill
results; including:
-
5.05 % zinc, 1.19% lead, 0.30 gpt gold and 44.03 gpt silver over 82.4
meters in MB-2011-34
-
4.58 % zinc, 1.55% lead, 0.51 gpt gold and 68.15 gpt silver over 59
meters in MB-2011-30
-
3.73 % zinc, 1.03% lead, 0.27 gpt gold and 43.24 gpt ilver over 140.3
meters in MB-2011-31
-
During
Spring and Summer 2011, 18 drill holes has been completed for a total of
2,391.5 meters
-
The
entire 2011 drilling program consists of 40, vertical, drill holes,
totalling 6,650 metres
-
The
deposit remains open and there is good potential to increase grade with
additional drilling
-
2012
Exploration budget is $2.5 Million
November 28, 2011,
Vancouver, Canada. -- El Niño Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN;
Frankfurt: E7Q) is pleased to announce significant diamond drill results of the
2011 drill program on the Murray Brook Massive-Sulfide Deposit located in the
Bathurst Mining camp, New Brunswick, Canada. Votorantim Metals Canada Inc (VM
Canada) is operator of the program.
During the spring-summer of 2011, a total of 19 holes, 2,695.5 meters, have been
completed. The results are included in this announcement.
The drill program was designed to further delineate the deposit in areas of low
drill-density, follow-up higher-grade intercepts, drill test the margins of the
known massive-sulfide body, and ultimately be used for a resource calculation.
The entire 2011 program consists of 60, vertical, drill holes, totaling
10,327.5 m. Assay results of the remaining drill holes will be announced
shortly, after conducting final QA/QC studies.
The drill plan was designed to start on the south, near-surface, section of the
deposit where thick, massive-sulfide intercepts with high-grade zinc have been
recorded. The drill program then moved to the north, to test deeper portions of
the massive-sulfide body in a systematic manner. Figure 2 below shows the
location of the completed drill holes.
The vertical section below (Figure 3) is located on the central part of the
deposit. Massive-sulfide intercepts recorded in the current program are very
close to what was expected based on the compiled sections.
Massive-sulfide intervals that cut the drill holes are indicated below. Drill
hole MB-2011-25 tested the eastern extent of the deposit and failed to intersect
massive sulfide.
Figure 1 Location Map of
Murray Brook Project
Figure 2 Location Map of
Murray Brook Diamond Drill Holes
Figure 3 Vertical Sections
5266839 North, illustrating Massive Sulfide (including some semi-massive sulfide)
intercepts
Table 1 below illustrates
significant drill results from the summer drilling program.
The deposit remains open and there is good potential to increase the grade with
additional drilling.
QA/QC Program
The sample process follows these procedures. Mineralized samples are
selected for assay from the NQ core and sawed with a diamond-blade rock saw. The
samples are bagged in a plastic sample bag with the sample number and sealed
with a plastic locking tie. Six or seven rock samples are placed in a rice bag
and sealed with a Bag Guard Seal with a 7-digit number. The rice bag is sealed
in a plastic bucket container and numbered. Shipments of approximately 20
buckets are sent by Day and Ross via their secure shipping facilities to TSL
Laboratories (TSL) in Saskatoon, Saskatchewan. TSL reports to VM Canada if there
is any evidence of tampering, of which no reports have been received to date.
Quality control is monitored by submitting a field blank, a standard and a
duplicate sample with each 30 sample batch sent to the laboratory for analysis.
The field blank is barren coarse-quartz sand. The field duplicate is a sawn,
quarter split of a core sample selected from the same batch. Two types of
standards, ME-6 low grade and ME-7 medium grade, were purchased from Canadian
Resource Laboratories, Langley, British Columbia. The OREAS_38, high-grade
standard was purchased from Analytical Solutions Ltd, Toronto, Ontario. The
quality control sample results are monitored for any assay problems as the data
is received from the laboratory. Assay values returned for blanks are at or
below the detection limit. Variability of assay values returned for standards
are within plus or minus 5% which is considered to be within an acceptable range
of analytical error.
Table-1 Significant Phase I
Drill intervals
Table-2 Diamond Drill Holes
Intersecting Massive Sulfide
Qualified Person
Statement
This news release has been reviewed and approved for technical content by
Ali-Hassanalizadeh MSc., MBA, P.Geo, a qualified person under the provisions of
National Instrument 43-101.
About El Niño Ventures Bathurst Projects
-
Bathurst Mining Camp
Project (Tri-party Agreement) consists of an initial 4,712 claims in a
tri‐party agreement with Xstrata and VM Canada, whereby VM Canada may incur
exploration expenditures of $10 million over a period of five years to earn
a 50% interest. VM Canada may further increase its interest to 70% by
spending an additional $10 million over two years.
In February 2011, ELN announced that a $5 million exploration program on
the Bathurst Mining Camp Base Metals Project had begun, consisting of
airborne and ground geophysics and will include a 10,000 meter drill program
that is currently underway. (See press release dated February 23, 2011).
Airborne geophysics has been completed and survey results are pending.
-
Murray Brook Project
under Votorantimʹs Option and Joint Venture Agreement with Murray Brook
Minerals and Murray Brook Resources, both privately held companies,
Votorantim can earn a 50% interest in the Properties, by funding $2,250,000
in exploration expenditures and making payments totaling $300,000 over a
three-year period commencing November 1, 2010. Votorantim can earn an
additional 20% interest in the Properties by funding an additional
$2,250,000 in exploration expenditures over an additional two-year period.
El Nino has elected to enter into a participation agreement wherein it can
earn 50% of Votorantim's interest by paying 50% of the costs incurred by
Votorantim in the Option and Joint Venture Agreement.
About Murray Brook
Deposit
The Murray Brook deposit is a polymetallic, volcanic hosted, massive‐sulfide
deposit and is the fifth largest in the Bathurst Mining Camp. The property is
located approximately 60 km west of Bathurst, New Brunswick, in Restigouche
County, within the Bathurst Mining Camp. An existing gravel road accesses the
property from a paved highway. The electricity grid is nearby, as are
communities with goods, services and skilled labor. The gossan zone was
removed during the open‐pit mining operations carried out by Novagold Resources
Inc. during the early 1990s. The hanging wall is moderately chloritic and is
locally intensely deformed. The foot wall consists of fine grained, felsic tuff
and tuffaceous sediments with moderate to strong chlorite and sericite
alteration. Sulfides are mainly fine grained, massive, vaguely laminated pyrite
with disseminated and banded sphalerite, chalcopyrite and galena. Removal of the
gossan also removed any evidence of previous drilling within the shallow pit
area. Consequently, VM Canada's due diligence process to acquire the Murray
Brook deposit required the confirmation of several historically, reported drill
results, in addition to compilation of previous work.
Significant drill results from the due diligence, drill twin‐hole program
included massive-sulfide intersections that were similar in width, position and
positively confirmed the grades for copper, lead, zinc, gold and silver reported
from the three previously drilled holes.
In January 2011, ELN announced that it has provided notice to Votorantim Metals
Canada Inc. (Votorantim) to enter into a Participation Agreement on the Murray
Brook Massive-sulfide Polymetallic Deposit situated in the Bathurst Mining Camp
in New Brunswick, Canada. (See press release dated January 20, 2011).
The first phase of the 2011 drill program was completed
in spring/summer 2011 and significant intersections of zinc, copper, lead, gold
and silver were reported. The second phase of the drilling program was initiated
in September 2011 and results are expected before year end. (See press release
dated August 30, 2011).
The Murray Brook 2012, exploration-program budget is currently set at $2.5
Million. This program will consist of a multi-phase drill program and a NI43-101
resource estimate with preliminary tonnage and grade calculations to be
completed in Q1 to Q2, 2012.
Votorantim Metals Canada Statement
Technical details in this news release were provided by VM Canada whose
professional geologists conduct operations consistent with mineral industry best
practices. VM Canada accepts no responsibility for this news release or any
inferences made from the technical details provided herein.
About VM Canada (Votorantim Metals Canada Inc.)
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metais; a
company that is part of the Votorantim Group that was founded in Brazil in 1918,
operates in twenty countries and has over forty thousand employees. Votorantim
Metais is the largest electrolytic‐nickel producer in Latin America and one of
the world's leaders in the production of zinc, aluminum and nickel.
About El Niño Ventures Inc.
El Niño Ventures Inc. is an international exploration company, focused on
exploring for lead, zinc, copper, gold and silver in New Brunswick, Canada and
copper in the Democratic Republic of Congo ("DRC").
On behalf of the Board of Directors,
"Harry Barr"
Harry Barr, Chairman and Acting CEO
For further information:
Corporate: Jay Oness --
jay@elninoventures.com
Investor Relations: Toll
free 1.800.667.1870
2303 West 41st Avenue, Vancouve, B.C. V6M 2A3
Email: info@elninoventures.com
TSX Venture Exchange or 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.
Note: this release
contains forward-looking statements that involve risks and uncertainties.
These statements may differ materially from actual future events or results and
are based on current expectations or beliefs. For this purpose, statements
of historical fact may be deemed to be forward-looking statements. In
addition, forward-looking statements include statements in which the Company
uses words such as "continue", "efforts", "expect", "believe", "anticipate",
"confident", "intend", "strategy", "plan", "will", "estimate", "project",
"goal", "target", "prospects", "optimistic" or similar expressions. These
statements by their nature involve risks and uncertainties, and actual results
may differ materially depending on a variety of important factors, including,
among others, the Company's ability and continuation of efforts to timely and
completely make available adequate current public information, additional or
different regulatory and legal requirements and restrictions that may be
imposed, and other factors as may be discussed in the documents filed by the
Company on SEDAR (www.sedar.com),
including the most recent reports that identify important risk factors that
could cause actual results to differ from those contained in the forward-looking
statements. The Company does not undertake any obligation to review or
confirm analysts' expectations or estimates or to release publicly any revisions
to any forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events.
Investors should not place undue reliance on forward-looking statements.
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