Nortec Minerals announces the Closing of the Private Placement

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[{"type":"text","content":"Nortec Minerals announces the Closing of the Private Placement(via TheNewswire)\n\n \nVancouver, BC / TheNewswire / February 8, 2018 - NORTEC MINERALS CORP. (the \"Company\" or \"Nortec\") (TSXV: NVT) - Further to Nortec's press releases dated January 8, 2018 and February 5, 2018, the Company announces that it has closed the Private Placement of 8,877,545 units for gross proceeds of $976,529.50. Each Unit will consist of one common share of the Company and one transferable common share purchase warrant (\"Warrant\") to acquire one additional common share for a period of two years at an exercise price of $0.24 per share.\n\n \n \nThe shares are distributed to purchasers in accordance with the rules and regulations of the Securities Act and TSX Venture Exchange policies which includes a 4 (four) month hold period from the date of issuance. A finder's fee of 7.5% in units will be paid on a portion of the Placement also in accordance with TSX Venture policies.\n\n \n \nThe proceeds of the placement will be used to test the southeast extension of the Priority 1 - Tom 1 North Target by diamond core drilling (Figures 1 & 2) and for working capital. RAB (Rotary Air Blast) drilling will also test the rest of the termite mound anomalies, geochemical soil and termite mound anomalies as well as artisanal workings on the Tom 1, Tom 2 and Tom 3 targets (Figure 3).\n\n \n \nDrilling commencing from drill holes TBDD0003, 0004, 0005 and 0006 from the northwest on the priority 1 target shows the gold values increasing to the Southeast, with TBD0007 returning 19 metres at 2.64 g/t gold from 31 metres including 7 metres at 3.57 g/t and 1 metre at 17.1 g/t.\n\n \n \nThe Tomboko Permit totals more than 75 square kilometres and is located immediately west of, and is surrounded by Anglo-Ashanti's SAG multi-million ounce gold mine and related land holdings. Extensive bedrock (rock geochemical sampling), soil, termite mound and pit sampling (over 10,000 samples) plus detailed geological mapping delineated three targets for immediate follow up drilling, Tom-1, Tom-2 and Tom-3.\n\n \n \nThe gold mineralization on the Tom-1 and Tom-2 targets appears to be hosted in highly altered, sheared, brecciated sandstone and volcanic rocks of the early Paleoproterozoic age Siguiri Basin. The SAG Mine is also hosted in the same age rocks. The TOM 3 Prospect is host...

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