Toronto, Ontario–(Newsfile Corp. – January 10, 2023) – Mink Ventures Corporation (TSXV: MINK) (“Mink” or the “Company“) today announced that it has commenced the exploration program at its 40 km2 Montcalm nickel copper cobalt project located adjacent to Glencore’s historical Montcalm Mine, 65 km northwest of Timmins, Ontario. The exploration program is expected to run through the end of March and will include an extensive program of advanced geophysics, both borehole and ground induced polarization (IP) followed by a diamond drill program. All permits are in place and drill contractors and crews secured. The geophysical crew is currently on site.
Significant advances in geophysical technology have enabled deeper penetrating systems with incredible clarity. Mink is benefitting from the work of previous operators who left numerous electromagnetic (EM) targets unexplained or untested. Mink will be conducting borehole geophysical surveys down some of these historical drill holes. Borehole IP systems now have the capability to see a 250 meters radius around a borehole and significantly below the end of the hole, which offers an extremely cost-effective way of evaluating targets at depth. The deepest known Ni Cu Co lenses at the Mine extend from approximately 250-400 meters vertical depth.
Further, historical work at the Glencore mine site demonstrated that in addition to the higher-grade Ni Cu Co lenses, there is potential for disseminated mineralization. In some instances, this type of mineralization is associated with a magnetic high and no coincident EM response (ex. Hole MAC9731 see Fig.2). Numerous magnetic targets of this nature are present on Mink’s claims both within the Hook Zone and across the southern portion of the property, (see Fig. 2) and represent valid exploration targets.
Mink’s claims cover very prospective geology including approximately 10 km2 of the gabbro phase of the Montcalm gabbro complex. The gabbro phase of the complex hosted the former Montcalm Mine (see Fig.1- light blue unit). Mink’s project covers approximately 40 km2 and surrounds the former Glencore Montcalm Mine which had 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). The project has excellent access and infrastructure including an all-weather road to the property, a series of logging roads throughout, as well as a power line, and proximity to the Timmins Mining Camp, enabling cost-effective mobilization and exploration.
Exploration Program Details: (Hook Zone & South Target Area)
- Disseminated anomalous nickel and copper mineralization is present over a significant width within the Hook Zone (historical hole WTM0512); the mineralization is coincident with a distinct magnetic anomaly and proximal to a number of unexplained historical EM targets including an unexplained EM target in hole WTM0512 itself.
- Borehole IP surveying will be conducted in the western part of the Hook Zone including hole WTM0512 as well as in a series of surrounding historical holes. This survey work will allow for target evaluation radius of approximately 250 meters around each borehole and to a significant distance below the end of each hole.
- The borehole IP surveying will allow for evaluation and better targeting of previously unexplained EM targets within historical holes and seek zones of disseminated mineralization. The borehole IP will also cost effectively evaluate the potential for deeper targets below 200 vertical meters.
South Target Area:
- Mink intends to conduct ground IP over a series of magnetic high responses in the southern portion of the property as well as target unexplained EM targets in historical holes that were identified by previous operators and government surveys. This survey work will better refine these targets for drill testing.
The Company has contracted a diamond drill and crew to begin testing targets following completion of the geophysical work program. The number of diamond drill holes, meters and targets to be tested will be confirmed following a review and ranking of the geophysical targets generated and refined by the preceding exploration program.
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 battery metals (nickel, copper, cobalt) at its Montcalm project, which covers approximately 40 km2 adjacent to Glencore’s former Montcalm Mine which had historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co. (Ont. Geological Survey, Atkinson, 2010. The project has excellent access and infrastructure with an all-weather access road and power as well as its proximity to the Timmins Mining Camp. The Company has 14,928,257 shares outstanding.
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 common shares beginning trading on the TSXV. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date hereof and Mink disclaims any intent or obligation to update publicly 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.