Mink Ventures Reports Phase 1 Drilling Results; Plans for Further Exploration and Drilling

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[{"type":"text","content":"Mink Ventures Reports Phase 1 Drilling Results; Plans for Further Exploration and DrillingToronto, Ontario--(Newsfile Corp. - May 4, 2023) - Mink Ventures Corporation (TSXV: MINK) (\"Mink\" or the \"Company\") completed its phase one diamond drill program (822 meters) on the Hook Zone, at its Montcalm Ni Cu Co project, to test two of three targets outlined from recent borehole Induced Polarization (IP) surveys. Since the Company began trading on January 4, 2023, the initial exploration work completed to date at Mink's Montcalm project has demonstrated that both 3D borehole IP and surface IP surveys are cost-effective target development tools. Recent IP work demonstrated that previously undetected anomalies, which may represent potential new zones of base metal mineralization, are present in the Montcalm gabbro complex proximal to the former Montcalm Mine. Mink plans to continue with further IP survey work and drill test these new high priority anomalies. Two borehole IP anomalies outlined in the January 2023 program, designated IP Target 1 and IP Target 2, were drill tested with drill holes MT23-1 and MT23-2 respectively (Figure 2). The borehole IP targets are hosted in the \"gabbro phase\" of the Montcalm gabbro complex which hosts the former Montcalm Mine (Figure 1). 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).Hole MT23-1:Drill Hole MT2301 was drilled to a depth of 237 meters to test a relatively shallow chargeability anomaly outlined from the borehole IP survey. This hole intersected a zone of disseminated pyrite though no significant base metal or precious metal values were noted.Hole MT23-2:Hole MT23-2 was drilled to a depth of 585 m in order to test a strong, deep conductive anomaly outlined by borehole IP. Despite considerable measures to control deviation of the hole, there was deviation of approximately 50 m in hole MT23-2's dip though minimal deviation in azimuth relative to the original optimum hole position. No significant explanation for the targeted conductive zone was noted to explain the cause of the anomaly. Some sections of disseminated pyrite and pyrrhotite were observed in the dr...

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