Vancouver, British Columbia--(Newsfile Corp. - January 27, 2025) - Nortec Mineral Corp. (TSXV: NVT) (the "Company" or "Nortec") is pleased to announce exploration drilling is to begin in February at the volcanogenic massive sulphide ("VMS") Sturgeon Lake Copper-Zinc-Lead Project, Ontario, Canada (Figure 1), located adjacent to Glencore Plc's Mattabi Mine site. Drill targeting has been conducted using data received from both a ground Electromagnetic ("EM") survey conducted in Q4 2024 and from a 2023 Versatile Time Domain Electromagnetic ("VTEM") survey.
Highlights
Maiden diamond drill program planned for February 2025.
Target Area 1 conductors (Figure 2) were first identified by the 2023 VTEM survey (see news release May 31, 2023) and have been further refined by a late-2024 ground-based EM survey.
To provided additional targeting confidence, all conductors were derisked via a soil survey that returned up to 125 ppm copper and 131 ppm gold (see news release November 21, 2023)
Limited historic drilling in the vicinity of Target Area 1 has returned anomalous gold, copper, zinc and lead values with up to 0.3% Cu and 0.9% Zn over 1.5m and 5.8 g/t gold and 0.6% lead over 0.91 meter (see Ontario Mineral Deposit Index MDI52G15NW00020).
Q4 2024 EM Survey
The Q4 2024 fixed-loop Time Domain Electromagnetic ("TDEM") survey conducted by Crone Geophysics, has been processed, interpreted and combined with data collected from the 2023 VTEM survey. This has resulted in generation of several Maxwell EM plates, which were used to refine conductors in Target Area 1 (Figure 2, 3) in preparation for diamond drilling.
Q1 2025 Drill Program
Numerous historical drill intercepts on the property host anomalous zinc - copper mineralization and favourable VMS geology. Historic drill holes also show strong potential for both copper and gold-rich VMS mineralization, such as 5.8g/t Au / 0.91 meters in C-81-2 (Ontario Assessment File 52G15NW0038) in Target Area 1 and 3.1% Cu / 0.3m in H9 (Ontario Assessment File 52G15NW0060) in Target Area 3. Historic hole locations have not been verified in the field and are interpreted from assessment reports.
Preparations are underway for a 500-meter, maiden drill program by the Company on the Sturgeon Lake Project. Drilling is scheduled to begin in February 2025.
About Sturgeon Lake VMS Property
The Sturgeon Lake VMS Property lies immediately north and adjacent to Glencore's past-producing Mattabi Mines and is host to the highly prospective continuation of the volcanogenic massive sulphide ("VMS") producing volcanic stratigraphy.
The Sturgeon Lake VMS mining camp is host to five high-grade past producing zinc - copper - lead - silver - gold mines of Glencore Plc, having a total combined production of 19.8Mt @ 8.50% Zn, 1.06% Cu, 0.91% Pb and 119.7g/t Ag (Franklin, J. M., 1996. Volcanic-associated massive sulphide base metals in Eckstrand, O. R., Sinclair, W. D., Thorpe, R.I. (eds.), Geol. Survey Canada Geology of Canada 8, 158-183.).
The Sturgeon Lake Mine Camp is located within the prolific Sturgeon Lake greenstone belt in the Wabigoon sub-province of Ontario's Superior Province, approximately 270 kilometers northwest of Thunder Bay.
Figure 1. Sturgeon Lake Project location and geology.
Figure 3. Priority Drill Target Areas 1 and 2 showing 2024 EM survey lines (black) with 2024 EM plates (red), 2023 soils and airborne Mag as background
Cameron Bell's, role as Vice President of Exploration has concluded. The Company would like to thank Mr. Bell for his valuable time and efforts on behalf of Nortec.
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Nortec Minerals Corp.
Nortec is a mineral exploration company that holds 100% interests in two exploration stage volcanogenic massive sulphide ("VMS") critical mineral projects, namely the Mattagami River Zinc and the Sturgeon Lake VMS properties, both located in Ontario, Canada. The Sturgeon Lake VMS Property lies immediately north and adjacent to Glencore's past-producing Mattabi Mine. The Company has granted an option ("Option Agreement") for an exclusive right to acquire a 51% interest in the Sturgeon Lake VMS Project.
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Nortec Minerals Corp. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in mineral and commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and the impact of governmental entities. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
