Field Work Commences on Nevada Projects
NDT Ventures Ltd. (TSXV:NDE) (OTCBB:NDTF) has received TSX Venture Exchange approval for the acquisition of the Pasco Canyon property located in Nye County, Nevada. To fulfill its initial obligations under the agreement, the Company has made a $5,000(US) payment and issued 75,000 common shares which have a hold period until October 24, 2003. The Pasco Canyon property is a large untested gold system situated in a geologically attractive area of central Nevada. Field work is to commence shortly on the property.
Elsewhere in Nevada, fieldwork is underway on the Company’s Black Hills and Jenny projects located in Mineral and Nye counties. Detailed work is designed to assess a significant intrusive related gold skarn and quartz vein system situated within carbonaceous sediments adjacent to a large intrusive complex. The priority target area on the property measures approximately one kilometer by ½ kilometer. Within this area gold values up to 5 g/t have been obtained from skarn mineralization in prospect pits. In the same intrusive related mineral system, to the west of the prospect pits, gold values up to 40 g/t have been obtained from a series of sub-horizontal quartz veins and steep quartz carbonate veining. The present program is designed to bring the project to the drilling stage. At the CC Project, located in Churchill County, the Company has returned the property to the vendor. Although the recent drill program confirmed the continuity of the target vein system, gold values obtained were below the Company’s expectations.
The company is currently evaluating several additional gold prospects for acquisition, as well as finalizing plans for an aggressive program on the Melville Diamond Project.
We will continue to keep shareholders informed as exploration proceeds.
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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