- 2072
exploration claim units in proven,
highly prospective zinc-lead VMS
mining camp
-
Seven base metal occurrence targets
with historic resources estimates
-
State-of-the-Art technical database,
including 2013 Fugro airborne
gravity dataset
- >100
DIAGNOS CARDS Targets
-
Indicative $8 million program
proposed to explore mineralized
occurrences and other targets
September 23, 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 its Bathurst Joint Venture
Project ("Joint Venture"). The Joint
Venture is a 50%:50% joint venture
between ELN and Glencore Canada
Corporation (GCC) in the prolific
Bathurst Mining Camp of New Brunswick,
Canada. The Joint Venture seeks a 3rd
party partner to explore and develop its
properties and, in addition, properties
in the Bathurst Camp owned 100% by GCC.
In return for funding 100% of a major,
multi-year exploration budget, the
partner would earn-in to a 50% equity
position in the Joint Venture and the
GCC 100% owned land. Expressions of
Interest will be evaluated from credible
and well-funded companies with
experienced management and exploration
teams, and preferably with experience in
the Bathurst camp or other VMS camps
elsewhere. A Partnership would provide
low-risk access to exploration upside in
a highly prospective base metal VMS
mining camp, in the safe and secure
mining jurisdiction of New Brunswick.
Bathurst Joint Venture Project
The Joint Venture consists of 21 claims
(1441 Claim Units) covering 29,830
hectares and owned 50%:50% by ELN and
GCC in the prolific Bathurst Mining
Camp. The GCC 100% owned land consists
of 18 claims (631 claim units) covering
approximately 13,560 hectares (Figure
1). The claims collectively overlie
seven zinc-lead sulphide mineralized
occurrences, all of which remain open to
exploration. In addition, the joint
venture recently received the results of
a state-of-the-art airborne gravity
survey by Fugro GeoServices Ltd. and a
proprietary computer-aided (CARDS)
targeting program conducted by DIAGNOS
Inc. The majority of the 160 CARDS
Targets remain to be explored. A
multi-year indicative $8M exploration
program is proposed for the exploring
the mineralized occurrences for NI43-101
compliant resources and the CARDS
Targets and other targets for new
discoveries.
Qualified Persons Statement
This news release has been reviewed and
approved for technical contents by
William Stone, Ph.D., P.Geo. and a
Qualified Person under the provisions of
National Instrument 43-101.
About El Nino Ventures Inc.
El Nino Ventures Inc. is a base metal
exploration and development company with
zinc-lead properties in the Bathurst
Mining Camp of New Brunswick and a
copper project in Africa. In addition to
the Bathurst Joint Venture Project with
Glencore, ELN has a 35% interest in the
Murray Brook Project, a near surface
zinc-lead-copper deposit with a positive
Preliminary Economic Assessment (for
details see ELN's website at
www.elninoventures.com). The remaining
65% interest in Murray Brook is owned by
Votorantim Metals Canada Inc., Project
Operator and a wholly owned subsidiary
of Votorantim Metais, a privately owned
company and the second largest mineral
resource company in Brazil. ELN also
owns 70% of the Kasala copper property
in the Democratic Republic of the Congo.
In May 2014, ELN entered into an option
agreement with MMG Limited whereby the
later can acquire the Company's 70%
interest in the Kasala copper property
for a total consideration of $6M.
Figure 1.
Bathurst Joint Venture Land Position in
the Bathurst Mining Camp
About Glencore Canada Corporation
Glencore Canada Corporation is a
Canadian subsidiary of Glencore plc, one
of the world's largest diversified
natural resource companies. Employing
over 200,000 people in 50 countries,
Glencore is a globally integrated
producer and marketer of commodities.
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
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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,
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"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. |
