- Significant drill results; including:
-
- 5.05 % zinc, 1.19% lead, 0.30 gpt gold and 44.03 gpt silver
over 82.4 meters in MB-2011-34
- 4.58 % zinc, 1.55% lead, 0.51 gpt gold and 68.15 gpt silver
over 59 meters in MB-2011-30
- 3.73 % zinc, 1.03% lead, 0.27 gpt gold and 43.24 gpt silver
over 140.3 meters in MB-2011-31
- During Spring and Summer 2011, 18 drill holes has been
completed for a total of 2,391.5 meters
- The entire 2011 drilling program consists of 40, vertical,
drill holes, totalling 6,650 metres
- The deposit remains open and there is good potential to
increase grade with additional drilling
- 2012 Exploration budget is $2.5
Million
VANCOUVER,
Nov. 28, 2011 /PRNewswire/ - El Niño
Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt:
E7Q) is pleased to announce significant diamond drill results of
the 2011 drill program on the Murray Brook Massive-Sulfide Deposit
located in the Bathurst Mining camp, New
Brunswick, Canada. Votorantim Metals Canada Inc (VM Canada)
is operator of the program.
During the spring-summer of 2011, a total of 19
holes, 2,695.5 meters, have been completed. The results are
included in this announcement.
The drill program was designed to further
delineate the deposit in areas of low drill-density, follow-up
higher-grade intercepts, drill test the margins of the known
massive-sulfide body, and ultimately be used for a resource
calculation.
The entire 2011 program consists of 60,
vertical, drill holes, totaling 10,327.5 m. Assay results of
the remaining drill holes will be announced shortly, after
conducting final QA/QC studies.
The drill plan was designed to start on the
south, near-surface, section of the deposit where thick,
massive-sulfide intercepts with high-grade zinc have been recorded.
The drill program then moved to the north, to test deeper portions
of the massive-sulfide body in a systematic manner. Figure 2 below
shows the location of the completed drill holes.
The vertical section below (Figure 3) is located
on the central part of the deposit. Massive-sulfide intercepts
recorded in the current program are very close to what was expected
based on the compiled sections.
Massive-sulfide intervals that cut the drill
holes are indicated below. Drill hole MB-2011-25 tested the eastern
extent of the deposit and failed to intersect massive sulfide.
Please go to the following link to view
Figures:
http://www.elninoventures.com/s/NewsReleases.asp?ReportID=492897
Table 1 below illustrates significant drill results from the
summer drilling program.
The deposit remains open and there is good
potential to increase the grade with additional drilling.
QA/QC Program
The sample process follows these procedures.
Mineralized samples are selected for assay from the NQ core and
sawed with a diamond-blade rock saw. The samples are bagged in a
plastic sample bag with the sample number and sealed with a plastic
locking tie. Six or seven rock samples are placed in a rice bag and
sealed with a Bag Guard Seal with a 7-digit number. The rice bag is
sealed in a plastic bucket container and numbered. Shipments of
approximately 20 buckets are sent by Day and Ross via their secure
shipping facilities to TSL Laboratories (TSL) in Saskatoon, Saskatchewan. TSL reports to VM
Canada if there is any evidence of tampering, of which no reports
have been received to date. Quality control is monitored by
submitting a field blank, a standard and a duplicate sample with
each 30 sample batch sent to the laboratory for analysis. The field
blank is barren coarse-quartz sand. The field duplicate is a sawn,
quarter split of a core sample selected from the same batch. Two
types of standards, ME-6 low grade and ME-7 medium grade, were
purchased from Canadian Resource Laboratories, Langley, British Columbia. The OREAS_38,
high-grade standard was purchased from Analytical Solutions Ltd,
Toronto, Ontario. The quality
control sample results are monitored for any assay problems as the
data is received from the laboratory. Assay values returned for
blanks are at or below the detection limit. Variability of assay
values returned for standards are within plus or minus 5% which is
considered to be within an acceptable range of analytical
error.
Table-1 Significant Phase I Drill intervals
Hole ID
|
From m |
To m |
Interval m |
Cu % |
Pb % |
Zn % |
Au ppm |
Ag ppm |
MB-2011-15 |
29.00 |
35.30 |
6.3 |
0.16 |
1.21 |
3.84 |
0.11 |
8.38 |
MB-2011-17 |
24.10 |
126.65 |
102.6 |
0.65 |
0.47 |
1.84 |
0.20 |
23.65 |
MB-2011-18 |
47.00 |
107.00 |
60.0 |
1.01 |
0.04 |
0.19 |
0.20 |
11.95 |
MB-2011-19 |
23.00 |
77.00 |
54.0 |
0.40 |
0.43 |
1.14 |
0.86 |
22.29 |
MB-2011-20 |
15.00 |
125.00 |
110.0 |
0.32 |
0.71 |
2.41 |
0.25 |
27.34 |
MB-2011-21 |
19.65 |
31.60 |
12.0 |
0.90 |
0.04 |
0.15 |
0.16 |
10.72 |
MB-2011-22 |
17.60 |
95.20 |
77.6 |
0.29 |
0.81 |
2.42 |
0.44 |
32.96 |
MB-2011-23 |
31.50 |
107.00 |
75.5 |
0.38 |
0.68 |
2.16 |
0.30 |
24.69 |
MB-2011-24 |
38.00 |
55.90 |
17.9 |
0.08 |
0.43 |
0.68 |
0.03 |
8.56 |
MB-2011-26 |
29.00 |
142.70 |
113.7 |
0.31 |
0.26 |
1.19 |
0.26 |
18.94 |
MB-2011-27 |
38.00 |
69.50 |
31.5 |
0.51 |
0.20 |
0.85 |
0.31 |
14.03 |
MB-2011-28 |
38.00 |
42.50 |
4.5 |
0.34 |
0.20 |
0.63 |
0.04 |
7.82 |
MB-2011-29 |
21.00 |
57.30 |
36.3 |
0.19 |
0.92 |
1.90 |
0.80 |
33.39 |
MB-2011-30 |
44.00 |
103.00 |
59.0 |
0.14 |
1.55 |
4.58 |
0.51 |
68.15 |
MB-2011-31 |
53.00 |
193.30 |
140.3 |
0.32 |
1.03 |
3.73 |
0.27 |
43.24 |
MB-2011-33 |
59.00 |
215.10 |
156.1 |
0.23 |
0.85 |
2.64 |
0.41 |
29.94 |
MB-2011-34 |
129.60 |
212.00 |
82.4 |
0.13 |
1.19 |
5.05 |
0.30 |
44.03 |
Table-2 Diamond Drill Holes Intersecting Massive
Sulfide
Drill Hole #
|
From (m) |
To (m) |
Interval (m) |
MB-2011-15 |
20.00 |
34.20 |
14.20 |
MB-2011-17 |
24.10 |
126.65 |
102.55 |
MB-2011-18 |
47.00 |
107.00 |
60.00 |
MB-2011-19 |
23.00 |
77.00 |
54.00 |
MB-2011-20 |
15.00 |
125.00 |
110.00 |
MB-2011-21 |
19.65 |
31.60 |
11.95 |
MB-2011-22 |
17.60 |
95.20 |
77.60 |
MB-2011-23 |
31.50 |
107.00 |
75.50 |
MB-2011-24 |
38.00 |
55.90 |
17.90 |
MB-2011-26 |
29.00 |
142.70 |
113.70 |
MB-2011-27 |
38.00 |
69.50 |
31.50 |
MB-2011-28 |
38.00 |
42.50 |
4.50 |
MB-2011-29 |
21.00 |
57.30 |
36.30 |
MB-2011-30 |
44.00 |
103.00 |
59.00 |
MB-2011-31 |
53.00 |
193.30 |
140.30 |
MB-2011-33 |
59.00 |
215.10 |
156.10 |
MB-2011-34 |
129.60 |
212.00 |
82.40 |
Qualified Person Statement
This news release has been reviewed and approved
for technical content by Ali-Hassanalizadeh MSc., MBA, P.Geo, a
qualified person under the provisions of National Instrument
43-101.
About El Niño Ventures Bathurst Projects
1. Bathurst Mining Camp Project
(Tri-party Agreement) consists of an initial 4,712 claims in a
tri‐party agreement with Xstrata and VM Canada, whereby VM Canada
may incur exploration expenditures of $10
million over a period of five years to earn a 50% interest.
VM Canada may further increase its interest to 70% by spending an
additional $10 million over two
years.
In February
2011, ELN announced that a $5
million exploration program on the Bathurst Mining Camp Base
Metals Project had begun, consisting of airborne and ground
geophysics and will include a 10,000 meter drill program that is
currently underway. (See press release dated February 23, 2011).
Airborne geophysics has been completed and
survey results are pending.
2. Murray Brook Project under
Votorantim's Option and Joint Venture Agreement with Murray Brook
Minerals and Murray Brook Resources, both privately held companies,
Votorantim can earn a 50% interest in the Properties, by funding
$2,250,000 in exploration
expenditures and making payments totaling $300,000 over a three-year period commencing
November 1, 2010. Votorantim can earn
an additional 20% interest in the Properties by funding an
additional $2,250,000 in exploration
expenditures over an additional two-year period. El Nino has
elected to enter into a participation agreement wherein it can earn
50% of Votorantim's interest by paying 50% of the costs incurred by
Votorantim in the Option and Joint Venture Agreement.
About Murray Brook Deposit
The Murray Brook deposit is a polymetallic,
volcanic hosted, massive‐sulfide deposit and is the fifth largest
in the Bathurst Mining Camp. The property is located approximately
60 km west of Bathurst, New
Brunswick, in Restigouche County, within the Bathurst Mining
Camp. An existing gravel road accesses the property from a paved
highway. The electricity grid is nearby, as are communities with
goods, services and skilled labor. The gossan zone was removed
during the open‐pit mining operations carried out by Novagold
Resources Inc. during the early 1990s. The hanging wall is
moderately chloritic and is locally intensely deformed. The foot
wall consists of fine grained, felsic tuff and tuffaceous sediments
with moderate to strong chlorite and sericite alteration. Sulfides
are mainly fine grained, massive, vaguely laminated pyrite with
disseminated and banded sphalerite, chalcopyrite and galena.
Removal of the gossan also removed any evidence of previous
drilling within the shallow pit area. Consequently, VM Canada's due
diligence process to acquire the Murray Brook deposit required the
confirmation of several historically, reported drill results, in
addition to compilation of previous work. Significant drill
results from the due diligence, drill twin‐hole program included
massive-sulfide intersections that were similar in width, position
and positively confirmed the grades for copper, lead, zinc, gold
and silver reported from the three previously drilled
holes.
In January 2011,
ELN announced that it has provided notice to Votorantim Metals
Canada Inc. (Votorantim) to enter into a Participation Agreement on
the Murray Brook Massive-sulfide Polymetallic Deposit situated in
the Bathurst Mining Camp in New
Brunswick, Canada. (See press release dated January 20, 2011).
The first phase of the 2011 drill program was
completed in spring/summer 2011 and significant intersections of
zinc, copper, lead, gold and silver were reported. The second phase
of the drilling program was initiated in September 2011 and results are expected before
year end. (See press release dated August
30, 2011).
The Murray Brook 2012, exploration-program
budget is currently set at $2.5
Million. This program will consist of a multi-phase drill
program and a NI43-101 resource estimate with preliminary tonnage
and grade calculations to be completed in Q1 to Q2, 2012.
Votorantim Metals Canada
Statement
Technical details in this news release were
provided by VM Canada whose professional geologists conduct
operations consistent with mineral industry best practices.
VM Canada accepts no responsibility for this news release or any
inferences made from the technical details provided herein.
About VM Canada (Votorantim Metals Canada
Inc.)
Votorantim Metals Canada Inc. is a subsidiary of
Votorantim Metais; a company that is part of the Votorantim Group
that was founded in Brazil in
1918, operates in twenty countries and has over forty thousand
employees. Votorantim Metais is the largest electrolytic‐nickel
producer in Latin America and one
of the world's leaders in the production of zinc, aluminum and
nickel.
About El Niño Ventures Inc.
El Niño Ventures Inc. is an international
exploration company, focused on exploring for lead, zinc, copper,
gold and silver in New Brunswick,
Canada and copper in the Democratic Republic of Congo ("DRC").
On Behalf of the Board of Directors,
(signed)
Harry Barr,
Chairman & Acting CEO
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 accuracy of this release. 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.
SOURCE El Nino Ventures Inc.