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January 9th, 2018 Vancouver, BC - El Niño
Ventures Inc. ("ELN" or the "Company") (TSXV:
ELN; OTC Pink: ELNOF; FSE: E7Q) is
pleased to announce that it recently
acquired, through staking, 100% of three
gold projects in the Great Northern
Peninsula of Newfoundland (Figure 1).
The claims were staked to follow up on
the new Gunner Cove gold discovery of
White Metal Resources.
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The three new gold projects are the
NP Gold Project, SA1 and SA2 gold
projects.
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The new land position contains
geology similar to that of White
Metal Resource's new gold discovery,
Gunners Cove.
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The company is presently planning a
program with follow up field work
planned for the spring of 2018.
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The company is currently assessing
other gold and base metal projects
The
three claim blocks are situated
around the city of St. Anthony
and northward (Figure 2),
covering approximately 22
kilometres of favorable geology,
similar to that being
encountered on the Gunners Cove
Project to the east and north of
the company's three gold
projects. The claim blocks
consist of 218 claim units for
approximately 18,980 hectares
(46900.41 Acres).
The White Metal Resources
recently announced (Newsfile
Corp. - November 20, 2017)
significant amounts of highly
anomalous gold assays over an
area of 15 kilometres in black
shale units of the Hare Bay and
Goose Tickle Formations. Michael
Stares, President of White Metal
Resources states in the
November 30th, 2017 news release
that; "Of the 156 rock samples,
99 were collected from the main
area of the black shale unit. On
the basis of the results from
the 99 samples, the Company has
expanded the gold (Au)
mineralization to the north by
approximately 3.75km, to the
east-northeast by approximately
3.2 km, and to the south by
about 1.3 km. Approximately 50%
of the grab samples collected in
the Gunners Cove area assayed
100 ppb Au (0.1 g/t Au) or
greater, with a maximum of 2.14
g/t Au. Silver assay results are
also elevated, ranging from less
than 5 ppb Ag to a maximum of
9.1 g/t Ag (note: grab samples
are selective by nature and are
unlikely to be representative of
average grades). Our recent work
at the Gunners Cove Property has
highlighted a large area of
anomalous gold values and
extended the discovery area
substantially. Historically,
this Property has seen very
little exploration work (minor
prospecting), adding to the
importance of this new gold
discovery. Precious metal
mineralization is associated
with and appears to be largely
hosted by pyritic nodules and
stringers accompanied by minor
silicification and local
brecciation, and hosted by an
extensive black shale unit."
ELN President and COO Trevor
Richardson states;
"The
Company is excited to have three
new gold projects and exploring
the gold potential of the Great
Northern Peninsula of
Newfoundland. Newfoundland is a
treasure chest of mineral
possibilities and is a mining
friendly jurisdiction. We look
forward to working in
Newfoundland as well as
assessing new projects that will
fit the El Nino strategy."
About El Nino Ventures
El Nino Ventures Inc. (ELN) has
in the past years been an
international base metals
exploration company with its
focus being on the Murray Brook
Project in the Bathurst region
of New Brunswick, Canada.
ELN signed an option to
purchase agreement regarding the
sale of its interest on this
project (News Release:
Oct 13th, 2016) with Puma
Explorations for $3.1 million
dollars, Recent revisions (News
Release:
Nov 6th, 2017) with regard
to the Puma Exploration deal has
the second payment from Puma of
$1,500,000 due for May 10th,
2018. The 3rd and final
payment of an additional 1
million (total 3.1 million) is
due by April 30 2019. In
addition, a royalty for the life
of the project will be paid to
ELN as per spelled out in the
agreement (News Release:
Oct 13th, 2016). In the
event Puma does not complete it
option to acquire ELN s interest
ELN will receive its entire
interest in the Murray Brook
project back. |
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Figure 1: El Nino Venture Gold
Projects -- Great Northern
Peninsula, Newfoundland and
Labrador
Figure 2: Claim Distribution map
in the St. Anthony's area of
Newfoundland and Labrador |
The
Company also has an Aggressive
Mineral Acquisition Program Underway
with a focus on gold and base metal
projects that are a mix of grass
roots, brownfields and advanced stage
projects. The Company plans to use the
Prospector Generator Model which
reduces risk, share dilution and
increases discovery potential.
Qualified Person
The contents contained herein that
relate to Exploration Results or Mineral
Resources is based on information
compiled, reviewed or prepared by Carey
Galeschuk, P.Geo, a consulting
geoscientist for El Nino Ventures. Mr.
Galeschuk is the Qualified Person as
defined by National Instrument 43-101
and has reviewed and approved the
technical content of this news release.
For more information on the Company
please go to
www.elninoventures.com
On Behalf of the Board of Directors
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
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: 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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