|Exploration work on the Bathurst Option Joint Venture Project, New Brunswick to extend into H1-2014|
ELN Nov 18 2013
- Prospective DIAGNOS CARDS, geophysical and stratigraphic targets to be drill tested
- Drilling currently underway with two rigs
December 12, 2013, Vancouver, BC; El Nino Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; OTCQX: ELNOF Frankfurt: E7Q) is pleased to provide an update on the exploration program planned for the Bathurst Option Joint Venture Project (BOJV) with Votorantim Metals Canada Inc. and Glencore Canada Corporation (formerly Xstrata Canada Corporation). The BOJV area covers much of the world-class Bathurst Mining Camp in north-central New Brunswick (Figure 1). Votorantim Metals Canada Inc. is the project operator.
2013 Exploration Program
In a recent meeting, the BOJV Management Committee agreed to extend the execution of the $2M exploration program for 2013 (see ELN press release dated September 10, 2013) into the first half of 2014. The 2013-2014 exploration program is testing prospective DIAGNOS CARDS, airborne and ground geophysical and stratigraphic targets in the BOJV Project area. The program is now designed to drill up to 7500 metres in 20-30 holes using two rigs by the end of H1 2014. The drill targets are distributed throughout the Bathurst Mining Camp. Subject to outcomes and results, the next steps in follow-up exploration could be continued direct drilling of targets, and ground and borehole geophysical surveys performed to optimize drill set-ups.
Figure 1. Land tenure map showing the location of properties in the Bathurst Option Joint Venture Project in 2013. The BOJV includes 1,633 units in 22 claims totalling about 18,000 hectares. The amount changes as some claims are dropped and others staked. El Nino maintains a 50% interest in another 1,032 units in 2 claims totaling 22,456 hectares.
Qualified Persons Statement
This news release has been reviewed and approved for technical content by William Stone, Ph.D., P.Geo. and a Qualified Person under the provisions of National Instrument 43-101.
About El Niño Ventures Inc. Bathurst Projects
El Niño Ventures Inc. has two active projects in the Bathurst Mining Camp: 1) the Bathurst Option Joint Venture (see below) and 2) Murray Brook (see company website);
About Bathurst Option Joint Venture Project
The BOJV Project is a Tri-Party Agreement with Xstrata Canada Corporation (now Glencore Canada Corporation) and Votorantim Metals Canada Inc. covering much of the area of the Bathurst Mining Camp in northeastern New Brunswick (Figure 1). The project commenced in July 2009. Votorantim can earn 50% by spending $10 million over 5 years. Votorantim Metals Canada Inc. can further increase its interest to 70% by spending an additional $10 million over 2 more years. Exploration expenditures to date by Votorantim Metals Canada Inc. total about $6.8 million.
BOJV project originally consisted of 4712 claims owned 50% ELN and 50% Glencore Canada Corporation and 2907 claims owned 100% by Glencore Canada Corporation, together with an Area of Interest in which ELN and Glencore Canada Corporation hold equal interest. Due to the Area of Interest, the BOJV generates new projects for ELN at no initial cost. An example of such project generation for ELN is the Murray Brook Project.
Votorantim Metals Canada Inc. Statement
Technical details in this news release were provided by Votorantim Metals Canada Inc. whose professional geologists conduct operations consistent with mineral industry best practices. Votorantim accepts no responsibility for this news release or any inferences made from the technical details provided herein.
About Votorantim Metals Canada Inc.
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metais, a company that is part of the Votorantim Group and was founded in Brazil in 1918. The Votorantim Group operates in twenty countries and has over 40,000 employees. Votorantim Metais is the largest electrolytic nickel producer in Latin America and one of the world's leaders in the production of zinc, aluminum and nickel. Votorantim Canada Metals Inc., in conjunction with Glencore Canada Corporation and El Nino Ventures, is operator of the Bathurst Option and Joint Venture, which is actively exploring for base metal deposits within the Bathurst Mining Camp.
About El Nino Ventures Inc.
El Niño Ventures Inc. is an international exploration company, focused on exploring for zinc, copper, lead, and silver in New Brunswick, Canada and copper in the Democratic Republic of Congo ("DRC").
On Behalf of the Board of Directors,
Chairman & CEO
El Niño Ventures Inc.
Further Information: Tel: +1 604 685 1870 Fax: +1 604 685 8045
Email: email@example.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 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.
You can view the Next News Releases item: Thu Dec 12, 2013, El Nino Ventures Inc. Director Resignation
You can view the Previous News Releases item: Mon Nov 18, 2013, El Nino Ventures Announces 3:1 Share Consolidation
You can return to the main News Releases page, or press the Back button on your browser.