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Nortec Minerals initiates NI 43-101 Technical Report and provides update on Phase 1 drilling, Tomboko Gold Property, Northeast Guinea, West Africa
(via TheNewswire) Vancouver, BC / TheNewswire / June 26, 2017 - Nortec Minerals ...
About this update from Nortec Minerals Corp
[{"type":"text","content":"Nortec Minerals initiates NI 43-101 Technical Report and provides update on Phase 1 drilling, Tomboko Gold Property, Northeast Guinea, West Africa(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / June 26, 2017 - Nortec Minerals Corp. (TSX-V: NVT; OTC-PK: NMNZF) (the \"Company\" or \"Nortec\") - Nortec initiates Technical Report, compliant with NI 43-101 standards, on the Tomboko Permit, Northeastern Guinea, West Africa. The Company contracted Mr. Simon Meadows Smith, FIMMM, FGS, of SEMS Exploration to complete a compliant Technical Report. SEMS Exploration is a full-service mineral exploration and mining consultancy company in West Africa, providing geological, mining engineering and environmental services; from grassroots reconnaissance through mineral resource estimations, project management and mine design to the supervision of feasibility studies. Further information can be referred to on http://www.sems-exploration.com/ \n\n \n \nThe Company cancelled the drilling contract with Gestion Fredal SARL due to non-performance. The drill equipment was mobilized to the drill site in the first week of June but the drilling has not commenced to date. The Company is evaluating drilling proposals from two other drilling companies and will issue a news release on the commencement of Phase 1 drilling. The program consists of 31 drill holes on the Tom-1 North, Tom 2 South and Tom-2 targets on the Tomboko Permit (Figures 2, 3 & 4). Nortec signed a Definitive Agreement to acquire an 80% interest in pro-rata stages in the Tomboko Gold Property, held by The Golden Rule Limited (TGR). Nortec will also earn an 80% interest in all of TGR's interests in other exploration permits located in Guinea. The Company signed an Amendment to the Definitive Agreement extending the due date for the completion of the Phase 1 exploration program to December 1, 2017. \n\n \n \nTGR's properties consist of the 100% interest in the Tomboko permit, a 100% interest in the Diguifara Permit and minority interests in the Badamako and the Kouroussa permits. These land holdings cover prospective ground on three separate mineralised trends. Details on the Tomboko, Diguifara, Badamako and Kouroussa permits are in the Company's January 11, February 10 and April 12, 2017 news releases.\n\n \n \nThe permits are in the northern part of the Birimian Siguiri Basin, a we...