|El Nino Ventures Inc. Announces High Grade Zinc, Gold and Silver intersections over significant intervals from the Phase II 18,000 metre Drill Program at Murray Brook Polymetallic Deposit, in Bathurst Mining Camp, New Brunswick|
ELN June 5 2012
Significant drill results;
7.94% zinc, 2.97% lead, 0.676
gpt gold and 114.6 gpt silver
over 47.0 metres in MB‐2012‐90
7.02% zinc, 3.41% lead, 1.999
gpt gold and 107gpt silver over
34.36 metres in MB‐2012‐90
4.43% zinc, 1.61% lead, 1.239
gpt gold and 69.8gpt silver over
60.0 metres in MB‐2012‐77
holes have been successfully
completed for a total of 15,844
Votorantim and El Nino spent $2.1
million to date (in 2010-2011)
budget $3 million with 18,000 metre
drill program in progress
June 5, 2012, Vancouver,
Canada; El Nino Ventures Inc. ("ELN" and
the "Company") (TSX.V: ELN; OTCQX:ELNOF
Frankfurt: E7Q) is pleased to announce
additional high-grade results over
significant intervals obtained from
holes drilled during its 2012, 18,000
metre drill program at the Murray Brook
massive‐sulfide deposit located in the
Bathurst Mining Camp in New Brunswick,
Canada. The Company has received and
confirmed assay results from drill holes
MB-2012-75 to MB-2012-90. A complete
list of the intercepts from the 2012
drill program is provided in Table 1.
The widths of the intercepts are
approximate to the true width of the
2012 drilling commenced on February 9,
2012 and to date, 81 holes have been
successfully completed for a total of
15,268 metres. The entire drill program
is planned to be 18,000 metres, but
could be expanded depending on results.
Figure 1 illustrates the location of
2012 drill holes.
There are two drill rigs operating on
the property with the objective of
upgrading the inferred and indicated
resources to largely measured resources
as well as completing preliminary
metallurgical testing on selected
portions of the deposit.
A minimum $3 million budget has been
proposed for the 2012‐2013 exploration
program. The budget includes $2.5
million for diamond drilling work on the
Murray Brook deposit and a $500,000
exploration geophysical program on
Murray Brook property and the adjacent
Camel Back property (Figure 3). The
objective of this exploration program is
to explore for VMS deposits at depths of
up to 200 metres below surface. The
Camel Back property is located in the
area between the Murray Brook deposit to
the west, which is one of the largest
massive sulfide deposit in the Bathurst
Mining Camp (BMC), and the Caribou
deposit to the east, which is the second
largest deposit in the camp with
historic resources of some 65 million
million budgeted for drill programs
for measured resources
18,000 metre drill program began
Delineate the outer perimeter of
the Murray Brook deposit and
advance the resources into the
million budgeted for exploration of
the Murray Brook Property
Metallurgical studies underway
Figure 1- Plan view of the Murray Brook
polymetallic massive sulfide deposit
and 2012 drill holes locations.
Figure 2- West view showing outline of
the Murray Brook polymetallic massive
and possible open pit surface which is
provided for illustrative purposes only
as the deposit as currently defined
comprises mineral resources which have
no demonstrated economic viability.
The Exploration Agreement
Votorantim is the Operator of the Murray
Brook Project. In January 2011, ELN
announced that it provided notice to
Votorantim to enter into a Participation
Agreement on the Murray Brook
polymetallic massive sulfide deposit
situated in the Bathurst Mining Camp in
New Brunswick, Canada. (See news release
dated January 20, 2011).
Under Votorantimʹs Option and Joint
Venture Agreement with Murray Brook
Minerals Inc. and Murray Brook
Resources Inc., both privately held
companies, Votorantim can earn a 50%
interest in the properties by funding
$2,250,000 in exploration expenditures
and making payments totalling $300,000
over a three year period that commenced
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.
ELN 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
On May 10, 2012 ELN announced that
Murray Brook Minerals Inc. has been
given formal notice by ELN and
Votorantim Metals Canada ("Votorantim")
of a 50% earned interest in the
Murray Brook, polymetalic project,
Bathurst, New Brunswick. MBM has also
been provided with a valid notice that
ELN and Votorantim are exercising their
option to acquire and become owner of an
additional 20% (for a total of 70%)
beneficial interest in the Murray Brook
Composited drill intercepts
**The composite assays provided are of
massive sulfide intersections only
employing a 0% Zn cutoff
Figure 3- Land tenure map showing the
location of the
Murray Brook Project in the Bathurst
Mining Camp, New Brunswick
Qualified Persons Statement
This news release has been reviewed
and approved for technical content by
Ali Hassanalizadeh M.Sc. P.Geo a
qualified Person under the provisions of
National Instrument 43‐101.
About El Niño Ventures Inc. Bathurst
1. Bathurst Mining Camp Project:
Consists of an initial 4,712 claims in
the Tri‐Party Agreement with Xstrata &
Votorantim whereby Votorantim may incur
exploration expenditures of $10 million
over a period of 5 years to earn a 50%
interest. Votorantim may further
increase its interest to 70% by spending
an additional $10 million over 2 years.
2. Murray Brook Project:
The Murray Brook project, which has
an excellent infrastructure, is one of
the largest massive sulfide deposits in
the Bathurst Mining Camp. Votorantim can
earn up to a 50% interest in the Murray
Brook Project by funding $2,250,000 of
exploration expenditures over a period
of 3 years. Votorantim may acquire a
further 20% by incurring an additional
$2.5 million in exploration costs over
an additional two year period. ELN has
elected to participate by paying 50% of
Votorantim's exploration costs during
the earn-in period.
In 2011, ELN and Votorantim spent $2.1
million on exploration; and completed
10,000 metres of drilling. Drill results
to date have been encouraging.
The first NI 43‐101 Mineral Resource
Estimate for the Murray Brook Zn‐Cu‐Pb‐Ag‐Au
deposit, which includes explanatory
footnotes, is presented in the table
below (see ELN press release dated
February 28, 2012). The resource
estimate is based on various assumptions
regarding mining methods, processing and
metal recoveries, payable metal NSR
credits and metal prices. This estimate
makes no provision for capital costs to
mine the deposit, nor mill the material
mined, as resources are not reserves and
the reader should not presume economic
Murray Brook Mineral Resource Estimate Summary
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
- The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
- The mineral resources in this news release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standard Committee on Reserve Definitions and adopted by CIM Council
- The Dec 31, 2011 two year trailing average US metal prices used in this estimate were $3.71/lb Cu, $1.03/lb Pb, $0.98/lb Zn, $1,397/oz Au, $27.63/oz Ag. The C$/US$ Exchange rate was 0.99.
- Overall payable metal in the NSR calculation were 81% Cu, 72% Pb, 64% Zn, 71% Au and 56% Ag.
- Mineral resources were determined within a Whittle pit shell with 45 degree slopes utilizing mining costs of C$2.50/tonne for mineralized material and waste rock, and C$1.75/tonne for overburden.
- Costs used to determine the C$20/tonne NSR resource cut-off value were processing at C$15/tonne and G&A C$5/tonne.
- The Murray Brook Mineral Resource Estimate was undertaken by Eugene Puritch, P.Eng. of P&E Mining Consultants Inc.
2012 NI 43-101 Mineral Resource Estimate is filed on SEDAR.com
Votorantim Metals Canada Inc. Statement:
Technical details in this news release were provided by Votorantim whose
professional geologists conduct operations consistent with mineral industry best
practices. Votorantim accepts no responsibility for this news release or any
inferences made from the technical details provided herein.
About Murray Brook Minerals Inc.
Murray Brook Minerals Inc. is a privately owned mining exploration company,
owner of the 5th largest deposit of the Bathurst Mining Camp, (New Brunswick,
Canada) the Murray Brook Deposit, as well as of the Camel Back Property
consisting of 215 claims.
About 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 Nino 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
Chairman & CEO
El Nino Ventures Inc.
Further Information: Tel: +1 604 685
1870 Fax: +1 604 685 8045
Email: email@example.com or visit www.elninoventures.com
650-555 West 12th Avenue, City Square, West Tower, Vancouver, B.C.,
Canada, V5Z 3X7
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.
Cautionary Note Regarding Forward Looking Statements. 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
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