VANCOUVER, Oct. 27 /CNW/ - Further to the news releases dated October 4
and October 14, 2006, Nortec Ventures Corp. (TSX-V:NVT), ("Nortec" or the
"Company"), announces that the Company's subsidiary Minera Nortec Ecuador SA
("Nortec Ecuador") signed a drilling contract with Cienminas S.A., a
subsidiary of Kluane Drilling, a well-known Canadian drilling company. The
drill is being mobilized and is expected to commence drilling on October 30,
2006, on the Ganarin epithermal gold-silver project, Southern Ecuador. This
second drill will help to increase the productivity rate. Current drilling
that commenced October 4, 2006, has progressed slowly due to very hard highly
siliceous chalcedony-quartz breccia and stockwork zones. Three target areas
are being tested for continuity, extent and structural control of the
gold-silver mineralization.
The Company holds an option to earn a 51% interest in the Ganarin
epithermal gold-silver project and 70% interest in the Condorcocha Project,
Southern Ecuador, from joint-venture partner Doubloon Exploration Corp. The
Ganarin property is situated in the prolific Ganarin Mineral Belt. IAMgold
Corporation's Quimsacocha gold deposit occurs in the same belt approximately
30 kilometres northeast of the Ganarin Property. Indicated resources within a
one-kilometre long defined area of the Quimsacocha deposit are estimated to
contain 3.4 million ounces of gold and 18.2 million ounces of silver.
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 responsible for the on-site
management of the exploration programs on the Property. Mr. Vulimiri and Mr.
Malahoff are qualified persons in accordance with National Instrument 43-101
guidelines.
In other news, the Company is pleased to announce the appointment of
Richard Tremblay to coordinate investor relations and shareholder
communications and the grant of 100,000 stock options at an exercise price of
$0.28 for a period of 2 years.
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 and review the Company's press
releases. Nortec is a mineral exploration and development company based in
Vancouver, British Columbia.
Nortec is earning an undivided 70% interest in Kollismaa-Naranka
nickel-copper-PGE project, northern Finland and a 51% interest in TL nickel
property, Voisey's Bay area, northern Labrador.
<<
On behalf of the Board of Directors,
NORTEC VENTURES CORP.
Mohan R. Vulimiri, President & CEO
>>
The statements made in this News Release may contain certain forward-
looking statements. Actual events or results may differ from the
Company's expectations. Certain risk factors may also affect the actual
results achieved by the Company. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy
of this release
