Nitinat Initiates the Geological Work Program on Carscallen
2018年4月10日 - 5:46AM
Nitinat Minerals Corp. (TSXV:NZZ) (Frankfurt:04U1 (the “Company”)
is pleased to announce that the Company has commenced work on the
proposed work program on its 100% owned Carscallen Gold Property
(also known as the Lalonde-Allaire claims) located in Northern
Ontario. The Carscallen Gold Property is located 25 kms west of the
City of Timmins and 7 kilometers north of the Lakeshore Gold’s
Timmins Mine, which produced an aggregate of 185,600 ounces in
2014.
Geological Work
Program
Historical information suggests the presence of
iron carbonate mafic to intermediate volcanic rock type with the
stratigraphic aligned feature trending NW to SE. This unit has been
the target of historical gold exploration and workings. The
geological feature has an approximate 2km strike length and about
200m wide as exposure on or near surface.
Previous small scale mining is reported to have
occurred towards the SE of the strike extent. The approximate shaft
position (three in total) are located within and along the same
strike as the mafic unit. Although small scale mining and the
remnants of the shafts are found on the property, the extent of the
mining activity is not known.
The Company has initiated an exploration program
with the following activities to be undertaken:
- Cutting of access lines (shown in the diagram below) that cover
the extent of the property and specifically the target area. A
total of 23km of lines are planned to be cut.
A diagram accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Download/43a25df9-d253-4b26-8f69-d423e85486de
- A geomagnetic survey will be carried out over the property at
12.5m intervals and at line spacing of 100m.
- An induced polarization (IP) survey will be carried out over
the property with a pole-dipole electrode array and a dipole
spacing of 50m.
- The total cost of the program is estimated at $60,000.
The program will start immediately and the
initial results from the program are expected by mid-June.
“After this short inexpensive program, the
Company should be able to identify drill targets,” stated Herb
Brugh, President of the Corporation, “and with that the Company
will initiate an extensive drill program on all of its claims in
order to maximize shareholder value. The Company’s main objective
is to find an economical ore body much the same as Lakeshore
(Tahoe) has done.”
The Qualified Person for the Carscallen Property
is John A. Gould, B.Sc. University of the Witwatersrand (Geology,
Physics and Chemistry) Potchefstroom University of Higher Christian
Education: BSc (Hons) (Geology) SACNASP Registration:
400022/10.
Corporation contact:
Herb Brugh, President and
DirectorTel: 416.216.0964
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
This news release contains “forward-looking
statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation. Generally, these forward-looking statements
can be identified by the use of forward-looking terminology such as
“plans”, “anticipated”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”,
or variations of such words and phrases or state that certain
actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur” or “be achieved”. Nitinat is subject to
significant risks and uncertainties which may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements contained in this
release. Nitinat cannot assure investors that actual results will
be consistent with these forward-looking statements and Nitinat
assumes no obligation to update or revise the forward-looking
statements contained in this release to reflect actual events or
new circumstances.
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