Business
Mink Ventures Completes Drill Hole at Montcalm, Begins Further Geophysical Surveys
Toronto, Ontario--(Newsfile Corp. - October 17, 2023) - Mink Ventures Corporation (TSXV: MINK) ("...
About this update from Mink Ventures Corp.
[{"type":"text","content":"Mink Ventures Completes Drill Hole at Montcalm, Begins Further Geophysical SurveysToronto, Ontario--(Newsfile Corp. - October 17, 2023) - Mink Ventures Corporation (TSXV: MINK) (\"Mink\" or the \"Company\") today announced that it has completed a diamond drill hole on an induced polarization (IP) anomaly in the western portion of the South Target Area (STA) at its Montcalm Ni Cu Co project, and begun additional IP surveying. Mink's project is adjacent to Glencore's historical Montcalm Mine, 65 km northwest of Timmins, Ontario. The Montcalm Mine had historical production of approximately 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010). The first phase surface IP survey on the western portion of the STA was completed in March 2023. This survey proved to be very productive and outlined a high chargeability IP target with an estimated strike length of approximately 500 meters. A series of secondary targets were also outlined. The highest priority IP target, designated SW IP Anomaly 1, (See Figures 2,2A, & 3.) is associated with a strong magnetic response and an initial drill hole has just been completed to a depth of 219 meters to evaluate this target. Core logging is underway and assays for base and precious metals are pending. The Company has initiated additional IP surveying in the eastern portion of the STA, which covers an interesting breccia zone on the contact of gabbroic phase of the Montcalm Gabbro Complex (MGC). The gabbro phase of the MGC hosts the former Montcalm Mine. Mineralization at the mine is often associated and/or peripheral to breccia zones. (See Figure 1 - blue unit & unit 4.) Further drilling in the STA area is planned to evaluate a number of secondary anomalies outlined in the first phase of the surface IP program, and any new anomalies that may be outlined in the current IP program in the eastern STA.Upon completion of the current drilling and geophysical surveys, Mink Ventures will have expended the required $600,000 in exploration work to fulfill the work commitment in order to earn its 80% interest in the Montcalm Project.CURRENT RATIONALE FOR MONTCALM PROGRAMHistorical work at the Glencore mine site demonstrated that in addition to the higher-grade Ni Cu Co lenses at the mine, there is potential for disseminated mineralization. In so...