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TSX.V: ELNOTC Pink: ELNOFFRANKFURT: E7QN
El Nino Ventures Inc. (ELN) is an international base metals
exploration company currently focused on exploration and development projects in
New Brunswick, Canada and in the Democratic Republic of Congo (DRC), Africa.
In New Brunswick, ELN's project portfolio consists of the Murray Brook Project
and the Bathurst Option Joint Venture Project, as summarized below.
Project Location Map
The Murray Brook Project is the largest NI43-101 compliant mineral resources in
the Bathurst Mining Camp. Murray Brook is a joint venture project owned 35% by
ELN and 65% by Votorantim Metals Canada (VMC), the Canadian subsidiary of
Votorantim (2nd largest mineral resource company in Brazil, with business
interests in more than 20 countries). VMC is the Project Operator.
To date, ELN has invested a total of $2.75 million in exploration expenditures
since 2010. In 2011, ELN and VMC spent $2.1 million on exploration and completed
10,000 metres of drilling. Drill results formed the basis of the first NI43-101
compliant mineral resource estimation for the Murray Brook deposit, which was
announced on February 28, 2012. The exploration and development program for 2012
consisted of an additional 18,500 meters of drilling on the Murray Brook
deposit, metallurgical studies of drill core material from the deposit, and
exploration on the adjacent Camel Back property, which is included in the Murray
Brook Joint Venture.
VMC and ELN released a positive Preliminary Economic Assessment (PEA or Scoping
Study) in June 2013. The PEA was prepared by P&E Mining Consultants Inc., a
leading independent consulting firm based in Brampton, Ontario. The results (see
Table 1 below) demonstrate the potential technical and economic viability of
establishing a new open pit mine and mill complex on the Murray Brook property.
Brunswick ranked in the top 10 Policy Potential Index, with the
score of 90.8" Fraser Institute Annual Survey of Mining
The Policy Potential Index is a
composite index that captures the
opinions of managers and executives on
the effects of policies in jurisdictions
with which they are familiar. The PPI is
based on ranks and is calculated so that
the maximum scores are 100. Each
jurisdiction is ranked in each policy
area based on the percentage of
respondents who judge that the policy
factor in question "encourages
The jurisdiction that receives the highest
percentage of "encourages investment" in any policy area is
ranked first in that policy area; the jurisdiction that receives
the lowest percentage of this response is ranked last.
view entire report from FraserInstitute.org
The PEA is based on an updated NI 43-101 Mineral Resource Estimation (see Table
Table 2 - Murray Brook In-Pit Mineral Resource Estimate at C$21/T NSR Cut-Off --
Effective June 4, 2013
* Murray Brook's 2013
PEA is preliminary in nature and its mineable tonnage includes Inferred Mineral
Resources that are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be categorized as
mineral reserves and there is no certainty that the preliminary assessment will
be realized. Mineral Resources that are not mineral reserves do not have
demonstrated economic viability.
The mineral resource estimation incorporates metal price, foreign exchange and
NSR calculation as follows:
3-year trailing average metal prices (US$) as of
January 31, 2013: Copper $3.68/lb, Lead $1/lb, Zinc $0.95/lb,
Gold $1500/oz, Silver $29/oz.
Exchange Rate (US$/C$): 1.00
NSR = (Cu% x 38.54 + Pb% x9.13 + Zn% x 15.81 + Ag
g/t x 0.44 + Au g/t x 0.0) -- 11.43
Bathurst Option Joint Venture (BOJV)
The BOJV Project is centered on the world‐class Bathurst Mining Camp and is
owned 50:50 by ELN and Glencore Canada Corporation (formerly Xstrata Canada
Corporation). The BOJV project consists 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, covering much of the Bathurst VMS Mining Camp
in northeastern New Brunswick, Canada.
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
Kasala is one of the newest copper discoveries in the Central African Copper
Belt, El Niņo Ventures' Kasala prospect is located approximately 70 kilometres
northwest of Lubumbashi, Democratic Republic of Congo's second largest city and
the center of the country's massive copper/cobalt mining industry. The Central
African Copper Belt contains over 10% of the world's copper and 34% of the
world's cobalt. The Kasala project permits are located close to the Kinsevere
Mine, MMG Limited ("MMG"), which is expected to produce 60,000 tonnes of copper
annually for the next 13 years.
El Nino currently holds a 70 % interest in four well located Research Permits,
accessible by road from the town of Lubumbashi in southern Congo. Each Permit is
partially underlain by the highly prospective Roan Formation which hosts most of
the important copper deposits in this area. On May 2th, 2014 the company
announced that it has entered into an Option Agreement with MMG (see
Press Release), whereby MMG can acquire ELN's 70% interest in the Kasala
copper project in the Democratic Republic of the Congo (DRC) for a total
consideration of USD$6,000,000.00.
Over the three year period, MMG must incur a total of USD$15,000,000 in
exploration expenditures. ELN will retain a 1.5% NSR.
The information on this website that relates to Exploration Results or Mineral
Resources is based on information compiled, reviewed or prepared by Dr. Bill
Stone, Executive Vice President, El Nino Ventures. Dr. Stone is the Qualified
Person as defined by National Instrument 43-101 and has reviewed and approved
the technical content of this website.
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