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Nortec signs a Letter of Intent to acquire 80% in The Golden Rule Limited's Tomboko Gold Project and financial interest in other properties, Northeast Guinea, West Africa
(via TheNewswire) Vancouver, BC / TheNewswire / V ancouver, B . C ., January...
About this update from Nortec Minerals Corp
[{"type":"text","content":"Nortec signs a Letter of Intent to acquire 80% in The Golden Rule Limited's Tomboko Gold Project and financial interest in other properties, Northeast Guinea, West Africa(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / Vancouver, B.C., January 11, 2017 - Nortec Minerals Corp. (TSX-V: NVT; OTC-PK: NMNZF) (the \"Company\" or \"Nortec\") - Nortec, a Canadian public company listed on the TSX Venture Exchange is pleased to announce that it has signed a Letter of Intent (\"LOI\") to acquire an 80% interest in Tomboko Gold Property located in Guinea, West Africa held by The Golden Rule Ltd (TGR) a private Hong Kong incorporated company. Nortec will also earn an 80% interest in TGR's minority financial interests in other exploration licenses located in Guinea.\n\n \n \nThe TGR's holdings (properties) consist of 100% interest in the Tomboko permit and minority interests in the Badamako and the Kouroussa permits. The Tomboko permit lies on one mineralized northwest trend, the Badamako permit is approximately 70 kilometers to the east on another northwest trend and the Kouroussa permit lies on a third mineralized trend 50 kilometres to the west (Figures 1 to 4 attached herewith). \n\n \n \nThe Projects lie in the northern part of the Birimian Siguiri Basin, a well-known prolific gold producing area. This part of the Basin already hosts three multimillion 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 \nTomboko Permit:\n\n \n \nThe Tomboko Permit (Figure 2) totals more than 75 square kilometres and is located immediately west of Anglo-Ashanti's SAG 5 million ounce gold mine. Extensive bedrock (rock geochemical sampling), soil, termite mound and pit sampling (over 10,000 samples) plus detailed geological mapping delineated three targets for follow up drilling, Tom-1, Tom-2 and Tom-3. Termite mound sampling also showed high gold values of 7.1...