TORONTO, Sept. 04, 2024 (GLOBE NEWSWIRE) — Mink Ventures Corporation (TSXV:MINK) (“MINK” or the “Company”) today announced positive base metal assays from a summer sampling program at its Warren Ni Cu Co project. The Warren property covers 1,130 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario. (See Figure 1.)
The valuable information obtained in the recent sampling efforts has been incorporated into the GIS data base in order to accurately plan and orient the second phase of drilling at Warren in the highest priority areas. Mink plans to begin a diamond drill program at Warren after freeze up (~December 2024) when the Company can most cost effectively test several zones concurrently.
The prospecting program was focused on a series of historical occurrences designated the Shaft Zone, SW Zone, D Zone, and North Zone. The Shaft Zone, SW, and D Zone are associated with a 1.5 km geophysical trend. The North Zone, a separate occurrence, was also evaluated in the NE portion of the patents.
HIGHLIGHTS:
Prospecting, sampling, and a geological evaluation of Shaft, SW, D, and North Zones was completed during summer 2024 to accurately locate the most prospective zones of mineralization for drill testing. Thirty-eight (38) reference samples were taken.
Sampling confirmed the presence of extensive zones of mineralization with excellent nickel grades and significant copper, and cobalt grades. (See Table 1 and Figure 2.)
North Zone: The North Zone, located in the northeast section of the Warren Patents, has emerged as the highest priority drill target from the summer program. The North Zone lies on the flank of large magnetic high and is associated with an IP response. Within the center of the magnetic high are a series of broad IP anomalies. These IP anomalies are untested and represent excellent drill targets along with the North Zone. Very limited historical work has been carried out other than a single blasted pit exposing considerable massive sulphides (see Photo 1). The sulphide zone is hosted in a gabbroic intrusive. The more significant Ni values from the North Zone massive sulphide ranged from 0.597% to 0.967% Ni in association with cobalt values ranging from 0.0573% to 0.0738% Co. The best copper value returned 0.515% Cu.
Shaft Zone: This is also a high priority drill target, along a 1.5 km long geophysical anomaly that is coincident with significant mineralization. Semi massive sulphide and disseminated sulphide was noted in samples in a gabbro host rock. The main sulphide mineralization observed was pyrrhotite and some chalcopyrite. Significant samples from Shaft Zone returned copper values ranging from 0.365% to 0.773% copper and nickel values ranged from 0.341% to 0.461% nickel. Cobalt values ranged from 0.0339% to 0.461% cobalt. The Shaft Zone is coincident with a 130-meter-wide IP anomaly over 100 meters of strike length in the immediate vicinity of the shaft. The Shaft Zone is also associated with a large “bull’s eye” magnetic response over the shaft collar and the southern portion of the IP target.
SW Zone: The SW Zone is located approximately 220 meters north of the Shaft Zone and mineralization consists of semi massive and disseminated pyrrhotite and chalcopyrite hosted in a gabbro intrusive. The best nickel values obtained were 0.354% to 0.401% Ni. Cobalt values ranged from 0.0392% to 0.0475% Co. The best copper value returned 0.579% Cu. The SW Zone trench is coincident with a broad 130-meter-wide IP anomaly, the same IP response which extends 200 meters northward from the Shaft Zone IP anomaly. Approximately 50 meters west of the SW Zone trench is the best ground electromagnetic (EM) response on the property. The Company intends to drill test these EM and IP targets along with the known mineralized SW Zone simultaneously.
D Zone: The D Zone, located approximately 150 meters north of the SW Zone, is associated with a broad IP response similar to the SW Zone IP anomaly, and the strike extension of those found at the Shaft Zone and SW Zone. The primary reason for re-examination of this area was the significant amount of sulphide mineralization noted in outcrop and the presence of a documented historical channel sample with a reported to grade of 0.5% Ni over 30 feet. (C. Mackenzie Consulting Geologist, 1990). Recent sampling returned weakly anomalous nickel and copper grades. Significant oxidation was noted, since the original work was completed some 35+ years ago, and consequently it was difficult to obtain a representative sample. Further work in this area is warranted.
References: Technical Report for Western Troy Capital Resources on the Warren Property (W. Hawkins P. Eng, 2021) and Maxmin, Magnetometer and VLF Surveys Evaluation Report, Whitesides and Massey Twp. Claims (C. Mackenzie Consulting Geologist, 1990)
“Our team has confirmed significant mineralization at surface on the North Zone, Shaft Zone and SW Zone associated with a geophysical response extending for approximately 1.5 km. These results continue to affirm the base metal potential of this project. We have secured additional ground in recent months in the same geological package with a number of high priority targets which further enhances the potential of this project. We look forward to drill testing the targets that were refined this summer,” said Natasha Dixon, President & CEO.
PHOTO 1: NORTH ZONE MASSIVE SULPHIDE
Table 1: Assay Sample Table for Warren Mineralized Zones
Sample
Ni%
Cu%
Co%
Zone
Comment
K905501
0.0798
0.773
0.01
Shaft
Shaft Muck Pile Grab Sample
K905502
0.461
0.0471
0.0424
Shaft
Shaft Muck Pile Grab Sample
K905503
0.341
0.0639
0.0339
Shaft
Shaft Muck Pile Grab Sample
K905504
0.0869
0.663
0.0111
Shaft
Shaft Collar West Face Grab
K905505
0.126
0.163
0.021
Shaft
Shaft Collar West Face Grab
K905506
0.1455
0.1485
0.0257
Shaft
Shaft Collar East Face Grab
K905507
0.0717
0.365
0.0107
Shaft
Shaft Collar East Face Grab
K905508
0.203
0.293
0.027
Shaft
Shaft Collar West Face Grab
K905509
0.0019
0.0032
0.0013
Vein
Felsic Intrusive Vein Wall Rock Grab
K905510
0.0043
0.0031
0.001
Vein
Quartz Vein
K905511
0.0016
0.0008
0.0016
Vein
Felsic Intrusive Vein Wall Rock Grab
K905512
0.317
0.515
0.0254
North
Pit Outcrop Grab Sample
K905513
0.902
0.0646
0.0738
North
Pit Outcrop Grab Sample
K905514
0.967
0.0423
0.0723
North
Pit Outcrop Grab Sample
K905515
0.772
0.0518
0.0665
North
Pit Outcrop Grab Sample
K905516
0.597
0.254
0.0573
North
Pit Outcrop Grab Sample
K905517
0.164
0.0572
0.0136
North
Pit Outcrop Grab Sample
K905518
0.831
0.0587
0.071
North
Pit Outcrop Grab Sample
K905519
0.0097
0.0633
0.0012
North
Pit Outcrop Grab Sample
K905520
0.354
0.1215
0.0392
SW
Trench Outcrop Grab Sample
K905522
0.401
0.1375
0.0475
SW
Trench Outcrop Grab Sample
K905524
0.054
0.579
0.0065
SW
Trench Muck Pile Grab Sample
K905525
0.208
0.151
0.019
SW
Pit Outcrop Grab Sample
K905526
0.31
0.0748
0.035
SW
Pit Outcrop Grab Sample
K905528
0.243
0.0767
0.025
SW
Pit Outcrop Grab Sample
K905529
0.22
0.0938
0.0508
D
End of Trench Bedrock Grab Sample
K905530
0.127
0.0342
0.0099
D
Trench Outcrop Grab Sample
K905531
0.0373
0.0597
0.0059
D
Trench Outcrop Grab Sample
K905532
0.0516
0.0651
0.0051
D
Trench Muck Pile Grab Sample
K905533
0.0315
0.0369
0.0041
D
Trench Outcrop Grab Sample
K905534
0.0715
0.042
0.0091
D
Trench Outcrop Grab Sample
K905535
0.0398
0.019
0.0054
D
Trench Muck Pile Grab Sample
K905536
0.0547
0.1135
0.0067
D
Trench Muck Pile Grab Sample
K905537
0.0721
0.108
0.0211
D
End of Trench Bedrock Grab Sample
K905538
0.0632
0.0566
0.0073
D
Pit Outcrop Grab Sample
K905539
0.0761
0.0337
0.008
D
Pit Outcrop Grab Sample
K905540
0.0486
0.0626
0.0055
D
Pit Outcrop Grab Sample
K905541
0.1055
0.1665
0.0285
D
Pit Outcrop Grab Sample
Note: The reader is cautioned that samples shown in table 1 above are “select grab samples” and are not necessarily indicative the average grade or extent of the mineralized zones sampled.
WARREN PROPERTY GEOLOGICAL DISCUSSION
Mink’s expanded Warren Project is hosted within the Kamiskotia Gabbro Complex (KGC) and it is thought to be broadly equivalent to the Montcalm Gabbro Complex (MGC) but separated by a granitic arch. The MGC hosts the former Montcalm Mine which produced approximately 3.93 million tonnes grading 1.25% Ni, 0.67% Cu and 0.05% Co (OGS, Atkinson, B., 2010).
Gabbro complexes such as MGC and KGC are known to be prospective for magmatic nickel copper sulphide deposition as demonstrated by the Montcalm Mine located within the MGC. The Warren property complements Mink’s Montcalm property due to the distinctly similar prospective geological environments found in the MGC and the KGC, as well as the presence of significant Cu Ni zones on the Warren Property.
As highlighted above, the Warren patents have had a sporadic exploration history since the late 1920’s to present day and a number of promising historical mineralized Cu Ni zones were outlined. The majority of the exploration completed to date on the property was completed in an area representing a very minimal portion of the property and completed well over 60 years ago. More recent geophysical surveys from the early 1990’s and 2008-2009 outlined a series of untested targets along strike from known mineralization and/or new targets proximal to known mineralization. As a result of this geophysical data being available and recent sample confirmation of mineralized zones, the Warren Project is drill ready, once winter access work is initiated in late 2024.
Quality Assurance / Quality Control Program:
Field samples were collected by a qualified professional geologist and experienced field assistant. Samples were transported in sealed bags to ALS Canada Ltd. facility in Timmins for preparation. Pulps were transported to Vancouver, B.C., for 35-element MEICP41 aqua regia inductively coupled plasma atomic emission spectroscopy analysis, PGM ICP23 analysis for gold-platinum-palladium analysis, Cu OG46 analysis for over 10,000 ppm Cu and NiOG46 analysis for over 10,000 ppm Ni. Oreas standards numbered 13B and 14P along with a blank sample were submitted by the corporation as an external check and numerous quality control samples and duplicates were completed as an internal check by ALS Canada.
Qualified Person:
Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical minerals in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its Montcalm project, which covers approximately 40 km2 adjacent to Glencore’s former Montcalm Mine with historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010), as well as the expanded Warren Project. These complementary nickel copper cobalt projects have excellent access and infrastructure and are in close proximity to the Timmins Mining Camp. The Company has 22,456,488 common shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: ndixon@minkventures.com or Kevin Filo, Director, T: 705-266-6818 or visit www.sedarplus.com.
Figure 1: Detailed Location Map
Figure 2: Zone and IP / EM Geophysical Trend Location Map
Forward Looking Statements:
This press release includes certain “forward-looking statements” under applicable Canadian securities legislation, including, but not limited to, statements with respect to the exploration potential of the Company’s mineral properties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals; or failure to obtain regulatory approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink’s filings with Canadian securities regulators available on SEDAR+ at www.sedarplus.ca.
Although Mink has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Mink disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/53e50a5c-6365-4265-9f8e-26be0220d449
https://www.globenewswire.com/NewsRoom/AttachmentNg/fa0ba56e-fa6a-439f-b2e5-29d17e7a59e0
https://www.globenewswire.com/NewsRoom/AttachmentNg/29299d63-d7ec-44d5-a6e3-922de082b81e
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