Bathurst Zinc ProjecBathurst Option Joint Venture (BOJV)

The BOJV Project is centred on the world‐class Bathurst Mining Camp and is owned 50:50 by ELN and Glencore Canada Corporation (formerly Xstrata Canada Corporation).

The Camp consists of billion dollar infrastructure located in the world class mining district of New Brunswick. It is home to the largest underground zinc mine in North America, the Brunswick Number 12 deposit, which contained nearly 295 million tonnes of massive sulphides and is currently operating at 10,000 tonnes per day. The Bathurst Camp is host to a number of past and present mines that contained zinc, lead and silver in volcanogenic massive sulphide deposits of varying sizes.

The Bathurst Mining Camp (BMC) is a roughly circular shaped area with a diameter of approximately 70 km located in the Miramichi Highlands of northern New Brunswick. The BMC hosts 46 base metal mineral deposits with historic and current mineral resources and another one hundred mineral occurrences, all hosted by Cambro-Ordovician rocks deposited in an ensialic back-arc basin. The largest deposit is the Brunswick #12 Mine, with 300 million tonnes of zinc-lead-copper-silver-gold resources.

In July 2009 Votorantim Metals Canada Inc. entered into a Tri-Party agreement with Xstrata Canada Corporation (now Glencore Canada Corporation) and El Nino Ventures, in which Votorantim Metals Canada Inc. could earn 50% by spending $10 million over 5 years and could further increase its interest to 70% by spending an additional $10 million over 2 more years. Votorantim Metals Canada Inc. Since July 2009, the BOJV Project has benefitted from Votorantim Metals Canada Inc.'s financial support and exploration efforts, which have advanced our geological understanding of the BOJV Project area. Exploration programs completed include airborne geophysics, targeting by DIAGNOS Inc., and diamond drilling, all completed without any dilution to ELN share capital.

Despite application of some innovative thinking and cutting‐edge exploration techniques and the use of Advanced Exploration Funds provided by the New Brunswick government, Votorantim Metals Canada Inc. decided to withdraw from the BOJV Project and focus their efforts elsewhere. ELN and Glencore Canada Corporation retain full ownership (50% ELN:50% GCC) of the project claims and are in the process of compiling the data generated by Votorantim Metals Canada Inc. for the next steps in exploration of the BOJV.

 

 

Votorantim Metals Canada Inc. (VMC)'s exploration program in 2012 included 6145 metres of diamond drilling, in 21 drill holes, ground gravity surveys, anomaly identification and target generation for drill testing (Table 1) and surface geochemical sampling programs
This phase of exploration drilling campaign focused on geophysical and geochemical targets in the Brunswick Belt.

table-1 Summary of Exploration Activities Performed during the period Q2 and Q3, 2012

Exploration data from the 2012 exploration program was combined with that from previous exploration programs and delivered to DIAGNOS Inc. for generation of new targets for prioritization for drill testing. DIAGNOS Inc. researchers utilized a unique computer system, CARDS (Computer Aided Resources Detection System), to identify areas with a high statistical probability of containing mineral deposits.

In 2013 DIAGNOS delivered 160 targets to Votorantim Canada, of which 13 were ranked as priority targets. In September 2013 a $2 Million exploration program approved for the BOJV project. The 2013‐2014 exploration program tested prospective DIAGNOS CARDS, airborne and ground geophysical and stratigraphic targets in the BOJV Project area. The drill targets were distributed throughout the Bathurst Mining Camp.

During 2013, fifteen holes were drilled for a total of 4780.7 metres at a cost of roughly $1.5 million. 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 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 2). 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 2).

Table 2: Assay results for 2013 BOJV Project Drill Program.

Final results of 2013-2014 are still pending and they will be announced immediately after being received.

ELN and Glencore Canada Corporation are in the process of compiling the data generated by Votorantim Metals Canada Inc. for the next steps in exploration of the BOJV.

About El Nino Ventures Inc.

El Nino Ventures Inc. is an international exploration company, focused on exploring for lead, zinc, copper, gold and silver in New Brunswick, Canada and copper in the Democratic Republic of Congo ("DRC"). ELN is based in Vancouver and has a regional office in Toronto.