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Update on the TL Nickel-Copper Property, Labrador and on the Ganarin and Condorcocha Gold-Silver Projects, Southern Ecuador
Update on the TL Nickel-Copper Property, Labrador and on the Ganarin and Condorcocha Gold-Silver Projects, Southern Ecuador.
About this update from Nortec Minerals Corp
[{"type":"text","content":"\n\n\n\n\n(TSX-V: NVT)\n\nVANCOUVER, Aug. 11 /CNW/ - Nortec Ventures Corp., (TSX-V: NVT) (\"Nortec\"\nor the \"Company\"), a junior mineral exploration company with common shares\nlisted on the TSX Venture Exchange is pleased to provide progress reports on\nits TL nickel-copper project in Labrador, Canada and the Ganarin and\nCondorcocha gold-silver projects in southern Ecuador.\n\nTL Nickel-Copper Project\n------------------------\nDiamond drilling is continuing on the TL nickel-copper property, located\n50 kilometers northwest of Inco's large Voisey's Bay nickel-copper deposit in\nNorthern Labrador. A total of 9 drill holes totaling 1456 meters have been\ncompleted to date. A minimum of 2500 meters of drilling is expected to be\ncompleted in this phase. The core is being cut with a diamond saw and the\nsplits sent for assay to be analyzed for nickel, copper, cobalt, sulphur and\nthe platinum group elements. Results will be announced in a timely fashion as\nthe assays are received.\nThe TL Property is the subject of a joint venture agreement with Vulcan\nMinerals Inc. (TSX-V: VUL) whereby Nortec may earn a 51% interest in the\nproperty.\n\nGanarin and Condorcocha Projects\n--------------------------------\nFurther to the news release dated June 7, 2005, the Company completed\ndetailed geochemical soil sampling on contour lines and on grids at 25 meter\nspacing on the Ganarin and Condorcocha projects in southern Ecuador.\nGeological mapping at a scale of 1:1000 was also completed. Initial grid soil\nsampling results from the Lomas La Cruz area on the Ganarin project show\nextensive parallel geochemical soil anomalies with several values in the range\nof 1000 to 8000 parts per billion (\"ppb\") gold. One of the anomalies with\nvalues greater than 500 ppb gold trends for a distance of 200 meters. These\nanomalies coincide with several parallel quartz-chalcedony breccia veins and\nveinlets.\nInitial results in the Chamana area located 800 meters north of Loma La\nCruz also suggest extensive geochemical soil anomalies. Detailed geological\nmapping and rock sampling results of the veins along with the geochemical soil\nsurvey results are being compiled for both the Ganarin and Condorcocha\nprojects, and results will be disseminated on a timely basis.\nDiamond core drilling of targets identified by the above surveys will be\ncarried o...