-
Drilling currently
underway with one rig in
the Bathurst Mining Camp
-
Prospective DIAGNOS
CARDS, geophysical and
stratigraphic targets
continue to be drill
tested
February 25, 2014, Vancouver, BC; El
Nino Ventures Inc. ("ELN" and the
"Company") (TSX.V: ELN; OTC Pink: ELNOF;
Frankfurt: E7Q) is pleased to provide an
update on the exploration program for
the Bathurst Option Joint Venture
Project (BOJV) with Votorantim Metals
Canada Inc. and Glencore Canada
Corporation (formerly Xstrata Canada
Corporation). The BOJV area of interest
covers much of the world-class Bathurst
Mining Camp in north-central New
Brunswick (Figure 1). Votorantim
Metals Canada Inc. is Project Operator.
2013 Exploration Program Results
During 2013, fifteen holes were drilled
for a total of 4780.7 metres at a cost
of roughly $1.5 million. The holes were
drilled to test prospective DIAGNOS
CARDS, airborne and ground geophysical
and stratigraphic targets in the BOJV
Project area (Figure 2). The
drill targets are distributed throughout
the Bathurst Mining Camp.
Significant results were obtained from
two diamond drill holes, MB-13-01 and
SA-13-21, both of which intersected
mineralization of interest. MB-13-01 was
drilled to test a ground gravity target
just to the west of the Murray Brook
polymetallic massive sulphide property,
in the northwest corner of the BOJV. The
hole intersected 248 metres of weak
mineralization consisting of pyrrhotite
+ pyrite ñ chalcopyrite from 230 metres
to end of hole at 578 metres, entirely
in sedimentary rocks. As a result, the
hole was extended from 578 metres to 821
metres. It remained in sedimentary rocks
and commonly carried 5-10% disseminated
pyrrhotite. The best assayed interval
was 13 metres grading 0.18% Zn, 0.08% Pb,
0.10% Cu and 1.74 g/t Ag from 428 metres
down hole (Table 1). The hole was
down-hole surveyed with an
electromagnetic probe for off-hole
conductors. The results indicated a
couple of deeper responses which might
reflect weak stringer mineralization. No
off-hole response was received that
could be interpreted as massive sulphide.
The other hole of interest, SA-13-21,
was drilled to test a CARDs/geophysical
target at Sevogle Airstrip in the south
central part of the BOJV. The hole
intersected felsic volcanics from 45
metres to 300 metres down hole, with
several short intervals of quartz +
chalcopyrite + sphalerite + galena
mineralization between 60 metres and 300
metres down hole. The best assay result
is 0.5 metres grading 2.9% Zn, 2.4% Pb
and 0.04% Cu from 60 metres down hole (Table
1).
Table 1:
Assay results for 2013 BOJV Project
Drill Program
2014
Exploration Program Plans
After a holiday hiatus, drilling resumed
on the BOJV with a single rig in
January. The program planned is for up
to thirteen holes to be drilled for a
total of 3000 metres at a cost of
approximately $350,000. Two holes are to
be drilled at Sevogle Airstrip, and six
holes in the area between the Murray
Brook and Restigouche massive sulphide
deposits and the remaining four or five
holes to be drilled elsewhere. The drill
program will be in two phases: a winter
program to end in the second half of
February where drill holes are close to
existing infrastructure and the
remainder in the spring. Subject to
outcomes and results, the next steps in
follow-up exploration could be continued
direct drilling of targets, and ground
and borehole geophysical surveys
performed to optimize drill set-ups. The
five year option earn-in period for
Votorantim Metals Canada Inc. currently
ends in July 2014
Figure 1.
Land tenure map showing the location of
properties in the Bathurst Option Joint
Venture Project as of February 21, 2014.
The BOJV includes 920 units in 26 claims
totalling 20,019 hectares. The amount
changes as some claims are dropped and
others staked. El Nino maintains a 50%
interest in another 1,177 units in 8
claims totalling 25,612 hectares.
Figure 2.
Collar locations for diamond drill holes
drilled on the BOJV Project area in 2013
and 2014. Note the location of MB-13-1
in the northwest corner or the area,
which is in the Mt. Fowler area near the
Murray Brook Project, and SA-13-21 in
the south central part of the area.
Qualified Persons Statement
This news release has been reviewed and
approved for technical content by
William Stone, Ph.D., P.Geo. and a
Qualified Person under the provisions of
National Instrument 43-101.
About El Niño Ventures Inc. Bathurst
Projects
El Niño Ventures Inc. has two active
projects in the Bathurst Mining Camp: 1)
the Bathurst Option Joint Venture (see
below) and 2) Murray Brook (see company
website);
About Bathurst Option Joint Venture
Project
The BOJV Project is a Tri‐Party
Agreement with Xstrata Canada
Corporation (now Glencore Canada
Corporation) and Votorantim Metals
Canada Inc. covering much of the area of
the Bathurst Mining Camp in northeastern
New Brunswick (Figure 1). The project
commenced in July 2009. Votorantim
Metals Canada Inc. can earn 50% by
spending $10 million over 5 years and
can further increase its interest to 70%
by spending an additional $10 million
over 2 more years. Exploration
expenditures to date by Votorantim
Metals Canada Inc. total about $6.8
million.
BOJV project originally consisted of
4712 claims owned 50% ELN and 50%
Glencore Canada Corporation and 2907
claims owned 100% by Glencore Canada
Corporation, together with an Area of
Interest in which ELN and Glencore
Canada Corporation hold equal interest.
Due to the Area of Interest, the BOJV
generates new projects for ELN at no
initial cost. An example of such project
generation for ELN is the Murray Brook
Project.
Votorantim Metals Canada Inc.
Statement
Technical details in this news release
were provided by Votorantim Metals
Canada Inc. whose professional
geologists conduct operations consistent
with mineral industry best practices.
Votorantim Metals Canada Inc. accepts no
responsibility for this news release or
any inferences made from the technical
details provided herein.
About Votorantim Metals Canada Inc.
Votorantim Metals Canada Inc. is a
subsidiary of Votorantim Metais, a
company that is part of the Votorantim
Group and was founded in Brazil in 1918.
The Votorantim Group operates in twenty
countries and has over 40,000 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. Votorantim Metals Canada Inc. is
operator of the Bathurst Option and
Joint Venture, which, in conjunction
with Glencore Canada Corporation and El
Nino Ventures, is actively exploring for
base metal deposits within the Bathurst
Mining Camp.
About El Nino Ventures Inc.
El Niño Ventures Inc. is an
international exploration company,
focused on exploring for zinc, copper,
lead, 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 & CEO
El Nino Ventures Inc.
Further Information: Tel: +1 604 685
1870 Fax: +1 604 685 8045
Email: info@elninoventures.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
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beliefs. For this purpose, statements of historical fact may be
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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. |
