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Nortec plans Phase 1 drilling on Tomboko Permit and the Diguifara Permit becomes part of the 80% Earn-in Joint Venture in The Golden Rule Limited's Tomboko Gold Property, Northeast Guinea, West Africa
(via TheNewswire) Vancouver, BC / TheNewswire / Vancouver, B.C., February 10, 2017 - N...
About this update from Nortec Minerals Corp
[{"type":"text","content":"Nortec plans Phase 1 drilling on Tomboko Permit and the Diguifara Permit becomes part of the 80% Earn-in Joint Venture in The Golden Rule Limited's Tomboko Gold Property, Northeast Guinea, West Africa(via TheNewswire)\n\n \nVancouver, BC / TheNewswire / Vancouver, B.C., February 10, 2017 - Nortec Minerals \n\n\n \nCorp. (TSX-V: NVT; OTC-PK: NMNZF) (the \"Company\" or \"Nortec\") -The Golden Rule Limited (\"TGR\"), a private Hong Kong incorporated company, acquired a new permit, the Diguifara Permit, as part of the 80% Joint Venture Earn-in Agreement with Nortec announced January 11, 2017. The Diguifara permit is located approximately 10 kilometres north of AngloGold Ashanti's SAG multi-million ounce open-pit gold mine (Figures 1 & 2). Nortec entered into a Letter of Intent (\"LOI\") to acquire an 80% interest in the Tomboko Gold Property located in Guinea, West Africa held by TGR. Nortec will also earn an 80% interest in TGR's minority financial interests in other exploration licenses located in Guinea. \n\n \n \nTGR's properties consist of a 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, Badamako and Kouroussa permits are in the Company's January 11, 2017 news release. \n\n \n \nThe permits are in the northern part of the Birimian Siguiri Basin, a well-known prolific gold producing area. This part of the Basin already hosts three multi-million ounce gold mines, the Lero (Nord Gold NV), the SAG (AngloGold-Ashanti) and the Keniero (SEMAFO) along with several other lesser mines and projects in advanced stages. Historically, the Niger River lowlands have been the site of extensive mining of alluvial gold and high-grade quartz lode gold in the saprolite (rock altered to clay) that gave rise to several past African Empires. Artisanal mining is still very widespread in the area today (Re: December 11, 2011 - NI 43-101 Technical Report on the Tomboko Gold Project, Denis Bray, P. Eng.). \n\n \n \nDiguifara Permit: \n\n \n \nThe Diguifara Permit (Figure 2) totals more than 75 square kilometres and is located immediately north and on the same trend of AngloGold Ashanti's SAG 5 million ounce gold mine. The permit was explored in 2007 - ...