El Nino Ventures vests with 50% interest in Bathurst claims
Wed Jun 4, 8:03 AM
ca.news.finance.yahoo.com
VANCOUVER, June 4 /CNW/ - El Nino Ventures Inc. ("El Nino" and "the Company") (TSX.V: ELN; Frankfurt: E7Q) is pleased to announce that it has vested with 50% interest in 1,902 mineral claims located within the Bathurst Mining Camp. The remaining 50% interest is held by Xstrata Canada Corporation - Xstrata Zinc Canada Division "Xstrata". The claims include historical base metal resources (not compliant with the CIM NI 43-101).
The 1,902 mineral claims in which El Nino owns a 50% interest host a total of seven significant Pb/Zn occurrences distributed over the eastern and western part of the Bathurst Mining Camp. These occurrences were discovered either by conventional prospecting in the early days or more recently by geology and various types of geophysical surveys. These occurrences have been subject, in the past, to important exploration work by Xstrata Zinc Canada looking to identify world class Pb/Zn deposits.
Table 1.
Significant Pb/Zn Historical Occurrences owned by the Joint Venture
(non-compliant with CIM NI 43-101)
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Thick-
Discovery Discovery Length Depth (m) ness
Deposit Date Method (m) max down dip (m) max
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Flat Landing
Brook 1975 Geology, geophysics 480 180 6.00
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Gilmour South 1995 Geology, geophysics 800 600 4.00
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Devil's Elbow 1957 Geophysics (AEM) 300 137 25.00
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Louvicourt 1964 Prospecting 450 150 8.00
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Fab Main 1953 Geology, geophysics 1,675 400 9.00
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Mount Fronsac
North 1999 Geology/Geophysics 1,000 700 20.00
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Orvan Brook 1938 Prospecting 1,890 600 6.10
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Total
Resource
Number of Metric
Deposit Lenses Tonnes Pb wt% Zn wt% Cu wt% Ag ppm
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Flat Landing
Brook 1 1,270,100 1.29 5.62 0.03 23.00
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Gilmour South 1
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Devil's Elbow several 362,900 1.20
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Louvicourt 2 136,000 1.23 1.00 0.42 91.00
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Fab Main 1 16,330,000 0.60 0.30 10.29
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Mount Fronsac
North 2 1,260,000 2.18 7.65 0.14 40.00
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Orvan Brook 1 200,000 1.50 7.00 0.30 51.00
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Doug Clark, P. Geo., El Nino Ventures' is the Qualified Person, as defined under National Instrument 43-101, responsible as El Nino Ventures representative during the afore-mentioned exploration program. Doug Clark was contracted by El Nino Ventures from August 2006 until March 2008 and was intimately involved in all aspects of the program. The qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
Jean Luc Roy, President of El Nino states: "As stated above we have selected 1,902 claims on which to earn a 50 percent interest. All these claims are in areas where some historical base metal occurrences have been identified or are in close proximity to existing or past operations in the Bathurst Mining Camp. We are now in discussions with Xstrata on how to move these properties forward in the future."
About El Nino Ventures
El Nino Ventures is a junior exploration company, whose corporate objective is to revisit former mining regions and apply the latest technologies to advanced stage exploration targets. El Nino has an option to acquire a 70% interest in over 350 square kilometers in the world renowned copper belt in the Democratic Republic of Congo ("DRC"). In addition to our copper and cobalt projects in the DRC, the Company has its project with Xstrata on the Bathurst Mining Camp and has started drilling on its Ireland properties.
On Behalf of the Board of Directors
"signed"
Jean Luc Roy, President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
CUSIPNo. 28335E-10-6
Note: 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.
Contacts
Tel: (604) 683-4886
Toll Free: 1-877-895-6466
Fax: (604) 683-4887
Email: info@elninoventures.com
Or visit: www.elninoventures.com |
