SOUTH VOISEY BAY UPDATE
June 3, 2003
Press Release #03-14
Trading Symbol: TSXV:NDE
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NDT Ventures Ltd. (TSXV:NDE) is pleased to provide an update on exploration being conducted on the South Voisey Bay Project by Falconbridge Limited. Falconbridge has reported that the interpretation of the deep penetrating airborne MegaTEM survey over the SVB Project has now been completed. The survey has identified nine conductive trends which will now be subject to ground geophysical follow-up to select and accurately locate targets for diamond drilling.
In the North Gabbro area, on ground held by SVB Nickel Company Ltd. (‘SVBN’), and adjacent properties, there are six conductive trends that have been identified by the MegaTEM survey. The ground follow-up will consist of widely spaced AMT electromagnetic (‘EM’) ground geophysics to be followed by large loop EM surveys. The ground follow-up will be in the general area of the highest grades and nickel tenors intersected on the SVB Project to date.
Three conductive trends, on strike with known gabbros, have been identified by the MegaTEM survey in the South Gabbro area on ground held entirely by SVBN. Ground follow-up will consist of large loop EM surveys.
In addition, three conductive trends on the eastern portion of the SVBN property and one on the northern portion of the SVBN property, have been selected for follow-up in the field prior to a decision to carry out ground geophysics.
High priority anomalies will be selected for diamond drilling. The 2003 program is being carried out by Falconbridge Limited. Falconbridge can earn a 50% interest in the entire South Voisey Bay Project by spending $23 million on exploration over a five-year period. Falconbridge had spent approximately $2.3 million to the end of 2002 and is required to spend an additional $1.7 million in 2003 to maintain its option.
There are four ownership blocks in the South Voisey Bay Project including the wholly owned SVBN property, and the SVBN/Pallaum Minerals joint venture property.
The ownership of SVBN is comprised of: Donner Minerals Ltd. 76.69%; Cypress Development Corp. 11.36%; NDT Ventures Ltd. 6.55%; and UC Resources Ltd. 5.40%. SVBN has a 75% interest in the SVBN/Pallaum joint venture property.
On Behalf of the Board,
NDT VENTURES LTD.
"Fred G. Hewett"
Fred G. Hewett, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production, sales, revenues, costs, or discussions of goals and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production; and project development, ore reserve estimates, and cost engineering estimate risks. See the Company’s Form 6-K and 20-F reports for a more detailed discussion of factors that may impact expected results.
For further information:
Telephone: 1-604-687-7545, Toll free: 1-888-338-2200 E-mail: info@northair.com
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