VANCOUVER, Dec. 14 /CNW/ - Nortec Ventures Corp., ("Nortec" or the
"Company"), is pleased to announce that trenching with systematic channel
sampling is being carried out on the Ganarin joint venture project, Southern
Ecuador. The sampling is designed to provide assays of the veins and breccias
over mineable widths. Four areas of interest were identified on the project;
Chamana area, Rio Minas zone, Chuscuyacu zone and Loma La Cruz zone.
Chamana Zone:
Four areas with intense silicification, quartz-chalcedony breccias and
vuggy-druzy quartz stockwork zones, including silica sinter deposits were
delineated in the Chamana area. These are Chamana Oeste, Chamana Este, Chamana
Nor-oeste and Chamana Nor-este. Detailed grid soil sampling on a line spacing
of 25 metres over the four breccia zones identified gold soil geochemical
anomalies with values as high as 2 grams/tonne gold. In 1993 Newmont drilled 6
random rotary holes in the area. One of the holes was designed to intersect
the Chamana Oeste breccia zone at depth. The hole was terminated at the top of
the breccia zone due to drilling problems, but It returned 3.6 grams/tonne
gold over 1.5 metres at the bottom of the hole.
Continuous channel sampling is being conducted in trenches excavated over
the four chalcedony breccia zones. Results will be announced when received.
Rio Minas:
Further to the news release dated September 14, 2005, detailed mapping
and systematic follow up sampling of the high grade zones is continuing on the
Rio Minas zone. Very significant gold values (greater than 1500 grams/tonne
gold over 30 centimetres) were obtained from smectite/clay fracture fillings
with rounded chalcedony fragments. These fractures fillings are hosted in very
tight rhyolite welded tuffs, suggesting tops of epithermal systems. Drilling
is being planned to intersect these structures in favorable host rocks below
the welded tuffs.
Geochemical soil surveys at 25 metre line spacing suggest several
favorable subparallel structures for precious metal mineralization.
The Rio Minas Zone occurs at an elevation of 1340 metres a.s.l.,
approximately 330 metres below Chamana, 220 metres below Loma La Cruz and at
the same elevation as the Chuscuyacu (Red 3). These results suggest that Loma
La Cruz and Chamana have significant potential at depth. Details can be
referred to in the Company's previous news releases.
Chuscuyacu (Red 3) and Loma La Cruz:
Trenching and systematic channel sampling of the geochemical soil gold
anomalies is being carried out to determine the source of the anomalies.
Intense argillic alteration zones appear to underlay the soil anomalies.
Proposed Work Program:
The Company's Management is very pleased with the results to date which
suggest that the Ganarin gold-silver property could potentially host several
mineralized gold-silver shoots with bonanza grades. Bonanza grades such as the
above are very common in low-sulphidation epithermal deposits. The modes of
occurrence of mineralization appear to be very similar to the Comstock and
Midas camps in Nevada, USA and the epithermal camps, such as the Kupol
district, of eastern Siberia, Russia. In view of these very positive results,
the Company is planning an extensive drill program.
Systematic follow-up work consisting of 2000 metres of core drilling of
the Chamana breccia zones, Rio Minas and Loma la Cruz zones is being planned
for the next phase. Drill permits are being applied for with the Ecuador
Ministry of Mines, with the drilling commencing on receipt.
ALS Chemex Labs of North Vancouver, BC, Canada will perform sample
preparation and analyses. The samples will be analysed for gold by fire assay
with atomic absorption finish and for other elements by 34 element aqua regia
ICP method.
The Ganarin property is subject to option and joint venture agreements
with Doubloon Exploration Corp. whereby, Nortec has the option to acquire 51%
interest in the Ganarin property located in Azuay province, Ecuador. The
Ganarin property is situated in the prolific Ganarin Mineral Belt. IAMGOLD
Corporation's Quimsacocha gold deposit occurs in the same belt approximately
40 kilometres northeast of the Ganarin Property. Channel Resources' El Mojo
gold property also occurs in the same area.
Mohan R. Vulimiri, M.Sc. P.Geo., President and Director of Nortec, is the
person responsible for initiating and guiding the work programs on the
Property. Brian T. Malahoff, P.Geo, is the person carrying out detailed
geological mapping and systematic channel sampling on the Property. Mr.
Vulimiri and Mr. Malahoff are qualified persons in accordance with National
Instrument 43-101 guidelines.
For further details and locations of the various zones on the Ganarin
Property and information on Nortec Ventures Corp., please visit the Company's
website at http://www.nortecventures.com.
On behalf of the Board of Directors,
Nortec Ventures Corp.
"Mohan R. Vulimiri"
Mohan R. Vulimiri, President & CEO
This press release contains forward-looking statements that involve risks
and uncertainties. The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of the contents herein.
