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Ottawa, Ontario--(Newsfile Corp. - October 24, 2024) - NeoTerrex Minerals Inc. (TSXV: NTX) ("NeoTerrex" or the "Company") is pleased to announce that it has completed 327 line-kilometres of a heliborne magnetic (MAG) and time-domain electromagnetic (TDEM) survey at its Valour project (the "Project") in the Eeyou Istchee James Bay region of Quebec. The high-resolution electromagnetic and magnetic survey has identified several anomalies prospective for volcanogenic massive sulphides (VMS) and pyritic gold styles of mineralization.
Among these anomalies are a series of strong conductors located along an east-west axis, and coincident with a magnetic high feature of over 2 kilometres in length, deemed as a high-priority target. Magnetic data for the immediate area indicates the presence of faulting and other important structures. Although there is no recorded surface exploration in the immediate vicinity, a 2006 government geological survey had identified copper and vanadium mineralization approximately 1.5 kilometres east of the conductor in the only grab sample taken in the area.
In the southern section of the Project, another series of conductors were identified in the area mapped as basalt and/or amphibolite, with diorite intrusives nearby. The areas of interest are road accessible, and the Company has hired members of the local community to assist with surface exploration work that is currently underway to determine if the source of the anomalies can be determined prior to drilling.
The Project is located within the gold and critical minerals rich Abitibi geological sub-province approximately 50 to 60 kilometres northwest of the town of Waswanipi. The hosted metallogenic features (stratigraphic, structural and thermodynamic) provide a favourable geological context for the search of critical minerals. The presence of volcanic and sedimentary rock units; a major unconformity; a major fold axis; young intrusives; base metal occurrences located along and on strike of the apparent same geological unit and the presence of several electromagnetic geophysical anomalies are all deemed favourable indications of the potential for finding mineralization on the Project. Please refer to NeoTerrex's September 18, 2024 news release for more details on the Project.
Qualified Persons
Technical and scientific aspects of this news release have been reviewed, verified, and approved by Mathieu Stephens, P.Geo., President and CEO of NeoTerrex, the Qualified Person, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.