TORONTO, Dec. 16, 2024 (GLOBE NEWSWIRE) — Mink Ventures Corporation (TSXV:MINK) (“MINK” or the “Company“) today announced that it has commenced the drill program at its Warren project. The Company will be drill testing the Shaft Zone, SW Zone, and North Zone, which each have high conductivity and low resistivity responses coincident with nickel, copper, cobalt mineralization. The Warren property covers 1,130 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario (see Figure 1) and is just south of Mink’s Montcalm Ni Cu Co project.
Highlights:
- The main IP anomaly, with high chargeability and low resistivity (see Figures 3 & 4) on the Warren Patents, has a strike length of 1.6 km and is open to the south, beyond the extent of the IP survey. Numerous copper, nickel, and cobalt occurrences are present on the flanks of this anomaly. The central core of the chargeability contour shown in purple (see Figure 3), in the vicinity of the Shaft, SW, and North Zones, remains untested. The diamond drill program has started at the Shaft Zone.
- North Zone: The North Zone, and a proximal IP anomaly both located in the northeast section of the Warren Patents, has emerged as the highest priority drill target area from the summer program. The North Zone lies on the flank of large magnetic high and is associated with an IP response. Within the center of the magnetic high are a series of broad IP anomalies. These IP anomalies are untested and represent excellent drill targets along with the North Zone. Very limited historical work has been carried out other than a single blasted pit exposing considerable massive sulphides (see Photo 1). The sulphide zone is hosted in a gabbroic intrusive. The more significant Ni values from the North Zone massive sulphide ranged from 0.597% to 0.967% Ni in association with cobalt values ranging from 0.0573% to 0.0738% Co. The best copper value returned 0.515% Cu.
- Shaft Zone: This is another high priority drill target, along a 1.6 km long geophysical anomaly that is coincident with significant mineralization. Semi massive sulphide and disseminated sulphide were noted in samples in a gabbro host rock. The main sulphide mineralization observed was pyrrhotite and some chalcopyrite. Significant samples from Shaft Zone returned copper values ranging from 0.365% to 0.773% copper and nickel values ranged from 0.341% to 0.461% nickel. Cobalt values ranged from 0.0339% to 0.461% cobalt. The Shaft Zone is coincident with a 130-meter-wide IP anomaly over 100 meters of strike length in the immediate vicinity of the shaft. The Shaft Zone is also associated with a large “bull’s eye” magnetic response over the shaft collar and the southern portion of the IP target.
- SW Zone: The SW Zone is located approximately 220 meters north of the Shaft Zone and mineralization consists of semi massive and disseminated pyrrhotite and chalcopyrite hosted in a gabbro intrusive. The best nickel values obtained were 0.354% to 0.401% Ni. Cobalt values ranged from 0.0392% to 0.0475% Co. The best copper value returned 0.579% Cu. The SW Zone trench is coincident with a broad 130-meter-wide IP anomaly, the same IP response which extends 200 meters northward from the Shaft Zone IP anomaly. Approximately 50 meters west of the SW Zone trench is the best ground electromagnetic (EM) response on the property. The Company intends to drill test these EM and IP targets along with the known mineralized SW Zone simultaneously.
- Following completion of the drill program, Mink will have completed the $300,000 of work expenditures required to earn its 100% interest in the Warren Patents. These expenses were significantly offset by the two, non-dilutive, OJEP grants (totaling $168,615) that the Company was awarded.
Qualified Person:
Mr. Kevin Filo, P. Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical minerals in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its Montcalm project, which now covers approximately 100 km2 adjacent to Glencore’s former Montcalm Mine with historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010), as well as its expanded Warren Project. These complementary nickel copper cobalt projects have excellent access and infrastructure and are in close proximity to the Timmins Mining Camp. The Company has 22,456,488 common shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: [email protected] or Kevin Filo, Director, T: 705-266-6818 or visit www.sedarplus.ca.
Forward Looking Statements
This press release includes certain “forward-looking information”, including, but not limited to, statements with respect to the prospectivity of the Montcalm and Warren Projects. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of exploration work; inability to raise the money necessary to incur the expenditures required to retain and advance the Warren Project and Montcalm Project; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, or delays in obtaining governmental and stock exchange approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink’s filings with Canadian securities regulators available on SEDAR+. These forward-looking statements are made as of the date hereof and Mink disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or ac curacy of this release.
FIGURE 1: MINK VENTURES PROPERTY LOCATION MAP
FIGURE 2: WARREN PROJECT CLAIM MAP
FIGURE 3: WARREN PROPERTY IP CHARGEABILITY MAP
FIGURE 4: WARREN PROPERTY IP RESISTIVITY MAP
IMAGE 1: WARREN PROJECT-MASSIVE SULPHIDES FROM NORTH ZONE
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e76646d8-07b8-4c81-84da-c6dc57e7c1a0
https://www.globenewswire.com/NewsRoom/AttachmentNg/65eec027-739d-4031-a217-e10897a33ad6
https://www.globenewswire.com/NewsRoom/AttachmentNg/c43a6bad-b847-4be3-a0f7-b37f435fc4b3
https://www.globenewswire.com/NewsRoom/AttachmentNg/03a97c8f-1f86-4c84-9d5f-5b6abee4a5e6
https://www.globenewswire.com/NewsRoom/AttachmentNg/b091bf2b-f662-4bfa-b8dc-bd78109067c4
