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Nortec (NVT) subsidiary mobilizes a second diamond drill, Ganarin Epithermal Gold-Silver Project, Southern Ecuador
Nortec (NVT) subsidiary mobilizes a second diamond drill, Ganarin Epithermal Gold-Silver Project, Southern Ecuador.
About this update from Nortec Minerals Corp
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Oct. 27 /CNW/ - Further to the news releases dated October 4\nand October 14, 2006, Nortec Ventures Corp. (TSX-V:NVT), (\"Nortec\" or the\n\"Company\"), announces that the Company's subsidiary Minera Nortec Ecuador SA\n(\"Nortec Ecuador\") signed a drilling contract with Cienminas S.A., a\nsubsidiary of Kluane Drilling, a well-known Canadian drilling company. The\ndrill is being mobilized and is expected to commence drilling on October 30,\n2006, on the Ganarin epithermal gold-silver project, Southern Ecuador. This\nsecond drill will help to increase the productivity rate. Current drilling\nthat commenced October 4, 2006, has progressed slowly due to very hard highly\nsiliceous chalcedony-quartz breccia and stockwork zones. Three target areas\nare being tested for continuity, extent and structural control of the\ngold-silver mineralization.\nThe Company holds an option to earn a 51% interest in the Ganarin\nepithermal gold-silver project and 70% interest in the Condorcocha Project,\nSouthern Ecuador, from joint-venture partner Doubloon Exploration Corp. The\nGanarin property is situated in the prolific Ganarin Mineral Belt. IAMgold\nCorporation's Quimsacocha gold deposit occurs in the same belt approximately\n30 kilometres northeast of the Ganarin Property. Indicated resources within a\none-kilometre long defined area of the Quimsacocha deposit are estimated to\ncontain 3.4 million ounces of gold and 18.2 million ounces of silver.\nMohan R. Vulimiri, M.Sc. P.Geo., President and Director of Nortec, is the\nperson responsible for initiating and guiding the work programs on the\nProperty. Brian T. Malahoff, P.Geo, is the person responsible for the on-site\nmanagement of the exploration programs on the Property. Mr. Vulimiri and Mr.\nMalahoff are qualified persons in accordance with National Instrument 43-101\nguidelines.\nIn other news, the Company is pleased to announce the appointment of\nRichard Tremblay to coordinate investor relations and shareholder\ncommunications and the grant of 100,000 stock options at an exercise price of\n$0.28 for a period of 2 years.\nFor further details and locations of the various zones on the Ganarin\nProperty and information on Nortec Ventures Corp., please visit the Company's\nwebsite at http://www.nortecventures.com and review the Company's press\nreleases. Nortec is a miner...