TORONTO, Nov. 19, 2024 (GLOBE NEWSWIRE) — Mink Ventures Corporation (TSXV:MINK) (“MINK” or the “Company“) today announced that it acquired $178,000 worth of both hard copy and digital induced polarization (IP) survey data at no cost to the Company. The IP data covers 57-line kilometers (km) on the Warren Patents and Warren North claims. Reprocessing this new information aided significantly in refining drill targets over a 1.6 km strike for the upcoming drill program. Additionally, during recent field work Mink’s crew discovered an undocumented, historical sulphide pit, now designated the BK Zone. This massive sulphide zone is associated with a very weak IP anomaly, yet grab samples returned anomalous copper assays from 0.233% to 0.241% Cu. The Company will be drill testing the higher priority Shaft, SW, and North Zones, which have much higher conductivity and lower resistivity responses coincident with nickel, copper, cobalt mineralization.
Highlights:
- Mink acquired, at no cost, 57-line kms of induced polarization (IP) survey data (valued at approximately $178,000) in digital and hard copy form, covering the Warren Patents and Warren Northeast land holdings (see Figures 1 & 2).
- Reprocessing of the digital data demonstrated that the main IP anomaly, with high chargeability and low resistivity (see Figures 3 & 4) on the Warren Patents, has a strike length of 1.6 km and is open to the south, beyond the extent of the survey. Numerous copper, nickel, and cobalt occurrences are present on the flanks of this anomaly. The central core of the anomaly shown in purple (see Figure 3), in the vicinity of the Shaft, SW, and North Zones, remains untested. The upcoming diamond drill program will begin here.
- North of the Warren Patents on the Warren North and Northeast claims (see Figures 1 & 2) the reprocessed data also outlined a similar IP anomaly with low resistivity and high chargeability stretching for an additional 1.3 km of strike length. A historical drill hole ML1 tested a portion of this anomaly and returned 0.83% Cu over 4.3 meters. Further follow up is required on this copper zone. (Reference: Morgain Minerals, OGS Assessment Files, Timmins)
- During the course of fall prospecting and grid location work, an undocumented historical pit with massive sulphide was uncovered. This pit was designated the BK Zone. It is interesting to note that this massive sulphide zone was found to be associated with a very weak IP anomaly, yet returned anomalous copper assays up to 0.241% Cu in massive sulphide.
- The new reprocessed IP data in conjunction with assay data from prospecting efforts has significantly enhanced the drill targeting at the Shaft Zone, SW Zone and North Zone Area (see Table 1 for historical sampling).
- Following completion of the drill program, Mink will have completed the $300,000 of work expenditures required to earn its 100% interest in the Warren Patents. These expenses were significantly offset by the two, non-dilutive, OJEP grants (totaling $168,615) that the Company was awarded.
Note: The sample values referenced in this news release for recent BK Zone sampling are select grab samples of a mineralized zone and are not necessarily representative of the mineralization found on the property.
Quality Assurance / Quality Control Program:
Field samples were collected by a qualified professional geologist and experienced field assistant. Samples were transported in sealed bags to ALS Canada Ltd. facility in Timmins for preparation. Pulps were transported to Vancouver, B.C., for 35-element MEICP41 aqua regia inductively coupled plasma atomic emission spectroscopy analysis, PGM ICP23 analysis for gold-platinum-palladium analysis, Cu OG46 analysis for over 10,000 ppm Cu and NiOG46 analysis for over 10,000 ppm Ni. Oreas standards numbered 13B and 14P along with a blank sample were submitted by the corporation as an external check and numerous quality control samples and duplicates were completed as an internal check by ALS Canada.
Qualified Person:
Mr. Kevin Filo, P. Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical minerals in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its Montcalm project, which now covers approximately 100 km2 adjacent to Glencore’s former Montcalm Mine with historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010), as well as the expanded Warren Project. These complementary nickel copper cobalt projects have excellent access and infrastructure and are in close proximity to the Timmins Mining Camp. The Company has 22,456,488 common shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: ndixon@minkventures.com or Kevin Filo, Director, T: 705-266-6818 or visit www.sedarplus.ca
Forward Looking Statements
This press release includes certain “forward-looking information”, including, but not limited to, statements with respect to the prospectivity of the Montcalm and Warren Projects. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of exploration work; inability to raise the money necessary to incur the expenditures required to retain and advance the Warren Project and Montcalm Project; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, or delays in obtaining governmental and stock exchange approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink’s filings with Canadian securities regulators available on SEDAR+. These forward-looking statements are made as of the date hereof and Mink disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or ac curacy of this release.
FIGURE 1: MINK VENTURES GENERAL PROPERTY LOCATION MAP
FIGURE 2: WARREN PROPERTY CLAIM HOLDINGS MAP
Table 1: Warren Property Historical Grab and Chip Sample Results
Reference: OGS Assessment Files, Timmins: Maxmin, Magnetometer and VLF Surveys Evaluation Report, Whitesides and Massey Twp. Claims (C. Mackenzie Consulting Geologist, 1990)
FIGURE 3: WARREN PROPERTY IP CHARGEABILITY MAP
FIGURE 4: WARREN PROPERTY IP RESISTIVITY MAP
Photos accompanying this announcement are available at:
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