Business
Nortec to Acquire the Barker Bay Gold Property and Appoints Mr. Ryan Hrkac, P. Geo to the Position of Chief Executive Officer
Toronto, Ontario--(Newsfile Corp. - November 5, 2025) - NORTEC MINERALS CORP. (TSXV: NVT) (" No...
About this update from Nortec Minerals Corp
[{"type":"text","content":"Nortec to Acquire the Barker Bay Gold Property and Appoints Mr. Ryan Hrkac, P. Geo to the Position of Chief Executive OfficerToronto, Ontario--(Newsfile Corp. - November 5, 2025) - NORTEC MINERALS CORP. (TSXV: NVT) (\"Nortec\" or the \"Company\") is pleased to announce that it has entered an asset purchase agreement (the \"Asset Purchase Agreement\") with Ryan Hrkac, P. Geo to acquire the Barker Bay Gold Property (as described below) (the \"Property\"), located in Ontario, Canada (the \"Transaction\").Additionally effective immediately, the Company is pleased to announce the appointment of Mr. Hrkac to the position of Chief Executive Officer of the Company replacing Derrick Weyrauch (formerly interim CEO) who continues in his role as Chairman of the Board of Directors. Sara Hills and P. Mark Smith have resigned from the Company as CFO and Director, respectively. Michael Malana has been appointed interim CFO to succeed Ms. Hills. The Company thanks Ms. Hills and Mr. Smith for their contributions to the Company.BARKER BAY GOLD PROPERTYThe Barker Bay Gold Property is located in the Kenora Mining division, northwest Ontario, Canada (South of Dryden). (Figure 1)Recent prospecting and historic exploration identified at least three (3) gold bearing sub-parallel structures on the 2,000-hectare property. Two historic small-scale mining operations are located on the property, namely the Barker Bros Mine and the Petrie Mine. Additionally, a third shaft was identified during geologic mapping in the 1980's located on a parallel structure east of the Petrie Mine. Historic records indicated the Barker Bros. Mine returned 23.6 oz in the first 8 tons of ore milled, an average grade of 101.1g/t Au (see Ontario Mineral Deposit Index MDI52F06SE00002) while production records for the Petrie Mine (see Ontario Mineral Deposit Index MDI52F06SE00003) and the undocumented shaft are unavailable.Historic prospecting has returned grab samples ranging from 1.4 to 24.5 g/t Au at the Barker Bros Mine ((see Ontario Assessment Report: 52F06NE0003) 3.3 to 11.3 g/t Au at the Petrie Mine Mineral Deposit Inventory MDI52F06SE00003)).Gold is hosted in quartz veins and in wall rock of shear zones which are up to 10 meters wide. Feldspar porphyry intrusives have also been identified in close proximity to the historic gold mines and may be an integral part of the mineral...