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

Murray Brook


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.

Table 1 -- Murray Brook After-Tax Financial Results Summary

The financial summary is based on a mill throughput of 6000 tonnes of ore per day (or 2Mt/year) and a Life of Mine of 9.5 years.

Investor Information

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Slide Show

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Fact Sheet

MURRAY BROOK NI 43-101  Preliminary Economic Assessment jULY 2013
MURRAY BROOK METALLURGICAL REPORT
NOVEMBER  2012

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"New Brunswick ranked in the top 10 Policy Potential Index, with the score of 90.8"  Fraser Institute Annual Survey of Mining Companies 2012/2013


PPI - 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 investment."
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. (excerpted from FraserInstitute.org)

Click HERE to view entire report from FraserInstitute.org

The PEA is based on an updated NI 43-101 Mineral Resource Estimation (see Table 2 below).

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

The Bathurst Option Joint Venture is ELN's second project in Bathurst Mining Camp. In this agreement, El Nino Ventures and Glencore Canada each hold a 50% interest in a large base metal project that covers much of the camp.

In 2009, ELN and Glencore Canada entered into the BOJV Agreement with Votorantim Metals Canada (VMC), whereby VMC can earn a 50% interest in the land holdings by incurring exploration expenditures of $10 million over 5 years. Votorantim may increase its interest to 70% by incurring expenditures of an additional $10 million over 2 more years.

To date, Votorantim spent $6.75 million and drilled up to 75 holes totaling 10,000 metres. As part of the $5 million exploration program, Votorantim contracted several airborne geophysical surveys in order to identify new targets for drill testing in 2011-2012. In September 2012, Votorantim contracted DIAGNOS Inc. (Quebec) for a target generation study utilizing their proprietary CARD technique. DIAGNOS delivered a total of 160 targets to VMC in March 2013, of which 13 were considered high priority. VMC commenced field checking the targets in May 2013, as part of a $2 million exploration program for the year. Drilling is anticipated to commence in late Q3 or early Q4 2013.

Kasala

ELN's project in Africa is its 70% interest in the Kasala property, which is a new copper discovery located in the Democratic Republic of Congo (DRC), Africa.

QP Statement

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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