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Nortec Provides Update on the TL Nickel-Copper Property, Labrador, and on the Ganarin and Condorcocha Epithermal Projects, Southern Ecuador
Nortec Provides Update on the TL Nickel-Copper Property, Labrador, and on the Ganarin and Condorcocha Epithermal Projects, Southern Ecuador.
About this update from Nortec Minerals Corp
[{"type":"text","content":"\n\n\n\n\n(TSX-V: NVT)\n\nVANCOUVER, June 8 /CNW/ - Further to the news release dated December 15,\n2004 Nortec Ventures Corp. (\"Nortec\" or the \"Company\") announces that the\nresults from gravity, UTEM and magnetic surveys, and geological mapping\ncarried out on the TL Property, Northern Labrador, were compiled and\ninterpreted by Dr. W.J. Scott of Geoscott Exploration Consultants, St. John's,\nNewfoundland. The property was acquired through a joint venture with Vulcan\nMinerals Inc., a TSX Venture resource company, based in St. John's,\nNewfoundland.\nSeveral potential drill targets with coincident strong gravity, UTEM and\nmagnetic anomalies were identified on the property. These targets could\nrepresent nickel-copper mineralization occurrences at depth. Drilling carried\nout by the previous operator intersected nickel bearing ultramafic dykes (up\nto 2.1% nickel), which could be small intrusions from a larger nickel bearing\nultramafic body. Of these, two are very strong with distinct coincident UTEM\nand gravity anomalies. The \"B\" Anomaly is located on the western portion of\nthe claims and the data for the anomaly suggest that it dips 30 degrees to the\neast. Several ultramafic pyroxenite bodies outcrop to the west in places where\nthe anomaly is projected to surface. Drill holes to the east of the anomaly by\nthe previous operator appear to be related to the down dip extension of the\nanomaly. The anomaly strikes 345 degrees on surface and can be traced for a\ndistance of 1600 metres. The gravity anomaly values reach up to 0.31 milligals\nand, from modeling, the UTEM conductance values are greater than 2000 Siemens\nat depths from 75 to 130 metres.\nGravity and UTEM data for the \"A\" Anomaly, located in the northeast part\nof the property, also suggest that the source for the anomaly is from a large\nultramafic intrusive body. One of the previous operator's drill holes\nintersected and bottomed in 80 metres of gabbro in the area of this anomaly.\nThe anomaly trends north-south with a steep dip and was delineated for a\ndistance of 1800 metres. Gravity anomaly values reach up to 0.28 milligals and\nthe UTEM model conductance values are around 2000 Siemens from depths of 50 to\n65 metres.\nCamp and Drill permits were granted and received from the Department of\nNatural Resources, Government of Newfoundland and Labrado...