(TSX-V: NVT)
VANCOUVER, June 8 /CNW/ - Further to the news release dated December 15,
2004 Nortec Ventures Corp. ("Nortec" or the "Company") announces that the
results from gravity, UTEM and magnetic surveys, and geological mapping
carried out on the TL Property, Northern Labrador, were compiled and
interpreted by Dr. W.J. Scott of Geoscott Exploration Consultants, St. John's,
Newfoundland. The property was acquired through a joint venture with Vulcan
Minerals Inc., a TSX Venture resource company, based in St. John's,
Newfoundland.
Several potential drill targets with coincident strong gravity, UTEM and
magnetic anomalies were identified on the property. These targets could
represent nickel-copper mineralization occurrences at depth. Drilling carried
out by the previous operator intersected nickel bearing ultramafic dykes (up
to 2.1% nickel), which could be small intrusions from a larger nickel bearing
ultramafic body. Of these, two are very strong with distinct coincident UTEM
and gravity anomalies. The "B" Anomaly is located on the western portion of
the claims and the data for the anomaly suggest that it dips 30 degrees to the
east. Several ultramafic pyroxenite bodies outcrop to the west in places where
the anomaly is projected to surface. Drill holes to the east of the anomaly by
the previous operator appear to be related to the down dip extension of the
anomaly. The anomaly strikes 345 degrees on surface and can be traced for a
distance of 1600 metres. The gravity anomaly values reach up to 0.31 milligals
and, from modeling, the UTEM conductance values are greater than 2000 Siemens
at depths from 75 to 130 metres.
Gravity and UTEM data for the "A" Anomaly, located in the northeast part
of the property, also suggest that the source for the anomaly is from a large
ultramafic intrusive body. One of the previous operator's drill holes
intersected and bottomed in 80 metres of gabbro in the area of this anomaly.
The anomaly trends north-south with a steep dip and was delineated for a
distance of 1800 metres. Gravity anomaly values reach up to 0.28 milligals and
the UTEM model conductance values are around 2000 Siemens from depths of 50 to
65 metres.
Camp and Drill permits were granted and received from the Department of
Natural Resources, Government of Newfoundland and Labrador. Diamond core
drilling, up to 4000 metres, is expected to commence in the first week of
July 2005. The drill holes are designed to test the two strongest anomalies
and the down dip extensions of previous mineralized drill intersections.
Geophysical gravity and UTEM surveys are also planned to further define
several more targets on the property.
Further to the news release dated March 22, 2005, Company has initiated
work programs consisting of geochemical soil sampling both on contour lines
and on grids at a spacing of 25 metres on the Ganarin and Condorcocha
epithermal gold projects, located in Southern Ecuador. Geological mapping on a
scale of 1:1000 is also being carried out on the projects. These surveys will
assist in the delineation of potential drill targets and interpretation of
structural controls of precious metal mineralization on these projects.
Shareholders will be updated on a timely basis as the results are
received.
Mr. Mohan R. Vulimiri, M.Sc. P.Geo., President and Director of Nortec,
recently made several visits to the project areas, examined the mineral
occurrences and evaluated the available previous exploration reports.
Mr. Vulimiri is a qualified person in accordance with National Instrument
43-101 guidelines.
For further details 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"
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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.
