 | | | Published : August 30th, 2011 | Significant drill results continue to be intersected in the Murray Brook deposit, the fifth largest |
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Significant drill results continue to be intersected in the Murray Brook deposit, the fifth largest massive sulfide deposit in the Bathurst Mining Camp |
|
|
-
Drill results confirm higher silver, gold, zinc and lead content than historically reported.
-
Phase I, 15 drill holes completed for a total of 3,132.5 meters
-
$1 Million Phase II drilling program including 6650 meters drilling initiated
-
Massive-sulfide body approaches the surface to the south in the pit area and plunges to the north
-
Out of a total of 1,034 samples obtained from the massive sulfide body, 12% returned assays of greater than 10% lead and zinc combined and 24% returned values of greater than 1 g/t gold.
-
The deposit remains open and there is good potential to increase grade with additional drilling.
August 30th, 2011, Vancouver, Canada. -- El Ni�o Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q) is pleased to announce significant Diamond drill results of the 2011, 15 hole drill program on the Murray Brook Massive-Sulfide Deposit located in the Bathurst Mining camp, New Brunswick, Canada. Votorantim Metals Canada Inc (VM Canada) is operator of the program.
A total of 15 holes have been completed to date on the Murray Brook project. Table 1 below illustrates significant drill results from Phase I, 3132.5 meters, drill program, included massive sulphide intersections.
Phase I drilling campaign focused on three objectives;
-
Infill drilling; Drill holes are located between historical, collar locations; where there are up to 100 meters between reported intercepts in historical holes, compiled from work reports of earlier drill programs.
-
Step-out drilling; to expand the size of the massive-sulfide body.
-
Due Diligent drilling; Votorantim, as operator, conducted a 595.2 meters Diamond drilling program to confirm results reported from previous drilling programs on the Murray Brook mining lease.
The program incorporated recommendations by P&E Consulting to ensure the database is compliant with protocols required for a NI 43-101 resource calculation. A total of 1,034 samples were analysed at TSL Laboratories Inc. (TSL) in Saskatoon, Saskatchewan.
Table-1 Significant Phase I Drill intervals
|
Hole
Number |
From
(m) |
To
(m) |
Width
(m) |
Cu
(%) |
Pb
(%) |
Zn
(%) |
Au
(ppm) |
Ag
(ppm) |
|
MB-2010-15 |
163.8 |
167.7 |
3.9 |
0.10 |
2.00 |
9.16 |
1.60 |
77.00 |
|
201.0 |
218.0 |
17.0 |
0.10 |
4.24 |
7.51 |
0.96 |
84.00 |
|
232.0 |
235.0 |
3.0 |
0.13 |
2.65 |
6.25 |
1.02 |
58.00 |
|
MB-2010-16 |
44.0 |
71.0 |
27.0 |
0.47 |
3.39 |
9.56 |
0.12 |
122.00 |
|
79.0 |
91.0 |
12.0 |
0.08 |
2.22 |
6.98 |
0.10 |
89.00 |
|
MB-2010-17 |
15.0 |
95.0 |
80.0 |
0.33 |
0.63 |
1.28 |
0.65 |
26.32 |
|
MB-2011-02 |
42.5 |
164.3 |
121.8 |
0.26 |
1.07 |
3.32 |
0.26 |
34.61 |
|
MB-2011-03 |
92.0 |
172.6 |
80.6 |
0.83 |
0.98 |
1.89 |
0.80 |
47.06 |
|
MB-2011-04 |
141.0 |
217.0 |
76.0 |
0.53 |
1.21 |
2.35 |
1.31 |
45.28 |
|
MB-2011-05 |
73.5 |
155.0 |
81.5 |
1.12 |
0.44 |
1.02 |
0.46 |
20.97 |
|
MB-2011-06 |
47.4 |
77.7 |
30.3 |
0.26 |
0.99 |
2.13 |
0.90 |
46.31 |
|
MB-2011-07 |
112.5 |
138.1 |
25.6 |
0.34 |
1.05 |
2.28 |
0.92 |
46.52 |
|
MB-2011-08 |
11.0 |
64.2 |
53.2 |
0.30 |
0.80 |
1.74 |
1.04 |
39.66 |
|
MB-2011-09 |
101.0 |
176.1 |
75.1 |
0.13 |
1.43 |
3.84 |
0.36 |
59.37 |
|
MB-2011-10 |
179.5 |
216.0 |
36.5 |
0.25 |
1.90 |
4.65 |
1.00 |
69.86 |
|
MB-2011-11 |
187.6 |
201.8 |
14.2 |
0.20 |
1.52 |
3.73 |
0.79 |
52.94 |
|
MB-2011-13 |
27.0 |
126.0 |
99.3 |
0.22 |
1.16 |
3.38 |
0.62 |
40.59 |
|
MB-2011-14 |
160.5 |
225.0 |
64.5 |
0.23 |
0.78 |
3.87 |
0.66 |
35.50 |
The weighted average, metal content of complete sulfide intervals through the deposit from all 15 holes, comprising 1,034 samples obtained from 1,069.5 meters of massive to semi-massive sulfide @ 0% metal cut-off, yields a weighted average of:
All sulfide intervals: 0.36% Cu; 1.15% Pb; 2.99% Zn; 0.61 g/t Au; and 42.80 g/t Ag.
Out of a total of 1,034 samples obtained from within the massive sulfide body, 121 samples (12%) returned assays of greater than 10% Pb and Zn combined and 248 samples (24%) returned values of greater than 1 g/t Au.
Table-2 illustrates a summary of Assay comparison between historical and VM Canada Diamond Drilling.
Table-2 Composite Assay comparison between historical and VM Canada Diamond Drilling
|
Hole Number |
From (m) |
To (m) |
Width (m) |
Cu% |
Pb% |
Zn% |
Au
(ppm) |
Ag
(ppm) |
Comments |
|
MB-2010-15 |
162.3 |
246 |
83.7 |
0.14 |
1.37 |
3.15 |
0.578 |
33.60 |
Twinned hole MB-98-13 |
|
MB-98-13 |
170.73 |
251.77 |
81.04 |
0.14 |
0.9 |
3.01 |
0.537 |
29.73 |
|
MB-2010-16 |
38 |
132 |
94 |
0.24 |
1.48 |
4.3 |
0.082 |
56.59 |
Twinned hole CP-20 |
|
CP-20 |
41.15 |
134.11 |
92.96 |
0.3 |
1.32 |
3.87 |
0.329 |
60.03 |
|
MB-2010-17 |
15.0 |
95.0 |
80.0 |
0.33 |
0.63 |
1.28 |
0.65 |
26.32 |
Twinned hole R-3 |
|
R-3 |
15.24 |
104.7 |
89.46 |
0.64 |
0.67 |
1.08 |
0.826 |
24.75 |
|
MB-2011-02 |
42.5 |
164.3 |
121.8 |
0.26 |
1.07 |
3.32 |
0.26 |
34.61 |
MB-2011-02 drilled 20m from R-10 |
|
R-10 |
47.55 |
185.93 |
138.38 |
0.24 |
1.01 |
3.14 |
0.444 |
37.12 |
|
MB-2011-03 |
92 |
172.6 |
80.6 |
0.83 |
0.98 |
1.89 |
0.798 |
47.06 |
MB-2011-03 drilled 18m from R-24 |
|
R-24 |
113.39 |
185.32 |
71.93 |
0.56 |
0.98 |
1.81 |
|
|
|
MB-2011-04 |
141 |
217 |
76 |
0.53 |
1.21 |
2.35 |
1.307 |
45.28 |
MB-2011-04, vertical intercept is between MB-98-4 and MB-98-14, both are angled holes |
|
MB-98-4 |
145.82 |
213.36 |
67.54 |
|
0.37 |
1.09 |
0.65 |
28.11 |
|
MB-98-14 |
148.11 |
229.01 |
80.9 |
|
1.09 |
2.92 |
|
46.29 |
|
MB-2011-05 |
73.5 |
155 |
81.5 |
1.12 |
0.44 |
1.02 |
0.46 |
20.97 |
MB-2011-05 drilled 25m from R-20 |
|
R-20 |
51.82 |
164.59 |
112.77 |
0.51 |
1.14 |
2.07 |
|
|
|
MB-2011-06 |
47.4 |
77.7 |
30.3 |
0.26 |
0.99 |
2.13 |
0.90 |
46.31 |
MB-2011-06 drilled 44m from R-45 |
|
R-44 |
78.64 |
117.04 |
38.4 |
0.4 |
1.2 |
1.96 |
|
|
|
MB-2011-07 |
112.5 |
138.1 |
25.6 |
0.34 |
1.05 |
2.28 |
0.92 |
46.52 |
MB-2011-07 drilled 29m from R-22 |
|
R-22 |
146.3 |
160.02 |
13.72 |
0.55 |
1.33 |
2.18 |
|
|
|
MB-2011-08 |
11.0 |
64.2 |
53.2 |
0.30 |
0.80 |
1.74 |
1.04 |
39.66 |
MB-2011-08 drilled 29m from R-35 |
|
R-35 |
24.99 |
128.32 |
103.33 |
0.55 |
0.43 |
0.67 |
0.466 |
33.60 |
|
MB-2011-09 |
101.0 |
176.1 |
75.1 |
0.13 |
1.43 |
3.84 |
0.36 |
59.37 |
MB-2011-09 angled intercept is close
to R-7, which was drilled vertically |
|
R-7 |
131.67 |
188.64 |
57 |
0.2 |
2.02 |
4.99 |
0.601 |
67.73 |
|
MB-2011-10 |
179.5 |
216.0 |
36.5 |
0.25 |
1.90 |
4.65 |
1.00 |
69.86 |
|
|
MB-2011-11 |
187.6 |
201.8 |
14.2 |
0.20 |
1.52 |
3.73 |
0.79 |
52.94 |
Higher grade Zinc Zone on the west edge
of the deposit |
|
MB-2011-13 |
27.0 |
126.0 |
99.3 |
0.22 |
1.16 |
3.38 |
0.62 |
40.59 |
Drilled between CP-19 & 27, 30m from each |
|
CP-19 |
51.82 |
168.86 |
117.04 |
0.16 |
0.59 |
2.53 |
0.23 |
28.18 |
|
CP-27 |
31.7 |
88.7 |
57 |
3.14 |
0.22 |
0.62 |
0.036 |
16.39 |
|
MB-2011-14 |
160.5 |
225.0 |
64.5 |
0.23 |
0.78 |
3.87 |
0.66 |
35.50 |
|
|
MB-98-10 |
224.14 |
271.95 |
47.81 |
0.31 |
2.21 |
5.25 |
1.324 |
78.88 |
|
MB-98-11 |
239.08 |
254.84 |
15.76 |
0.17 |
1.94 |
4.58 |
1.035 |
54.26 |
|
MB-98-5A |
144.17 |
237.74 |
93.57 |
0.14 |
1.54 |
4.02 |
0.489 |
58.04 |
These assay results confirm and/or exceed historical results reported by previous operators, who in many instances did not assay for precious metals, and are very encouraging with further Diamond drilling recommended evaluating the deposit. The deposit remains open and there is good potential to increase grade with additional drilling.
QA/QC Program:
The sample process follows these procedures. Mineralized samples are selected for assay from the NQ core and sawed with a Diamond blade rock saw. The samples are bagged in a plastic sample bag with the sample number and sealed with a plastic locking tie. Six or seven rock samples are placed in a rice bag and sealed with a Bag Guard Seal with a 7-digit number. The rice bag is sealed in a plastic bucket container and numbered. Shipments of approximately 20 buckets are sent by Day and Ross via their secure shipping facilities to TSL in Saskatoon, Saskatchewan. TSL would report to VM Canada if there was any evidence of tampering of which no reports have been received to date. Quality control is monitored by submitting a field blank, a standard and a duplicate sample with each 30 sample batch sent to the laboratory for analysis. The field blank is barren coarse-quartz sand. The field duplicate is a sawn, quarter split of a core sample selected from the same batch. Two types of standards, ME-6 low grade and ME-7 medium grade, were purchased from Canadian Resource Laboratories, Langley, British Columbia. The OREAS_38, high-grade standard was purchased from Analytical Solutions Ltd, Toronto, Ontario. The quality control sample results are monitored for any assay problems as the data is received from the laboratory. Assay values returned for blanks are at or below the detection limit. Variability of assay values returned for standards are within plus or minus 5% which is considered to be within an acceptable range of analytical error.
Qualified Person Statement
This news release has been reviewed and approved for technical content by John Londry MSc., P.Geo, a director of the Company and a qualified person under the provisions of National Instrument 43-101.
About El Ni�o Ventures Bathurst Projects;
-
Bathurst Mining Camp Project:
(TriParty Agreement) Consists of an initial 4,712 claims in tri-party agreement with Xstrata & VM Canada whereby VM Canada may incur exploration expenditures of $10 million over a period of 5 years to earn a 50% interest. VM Canada may further increase its interest to 70% by spending an additional $10 million over 2 years.
In February 2011, ELN announced that a $5 million exploration program on the Bathurst Mining Camp Base Metals Project has begun consisting of airborne and ground geophysics and will include a 10,000 metre drill program which is currently underway. (See press release dated February 23, 2011).
Airborne geophysics is completed and survey results are pending;
-
Murray Brook Project: Under Votorantim's Option and Joint Venture Agreement with Murray Brook Minerals and Murray Brook Resources, both privately held companies, Votorantim can earn a 50% interest in the Properties, by funding $2,250,000 in exploration expenditures and making payments totalling $300,000 over a three year period commencing November 1st, 2010. Votorantim can earn an additional 20% interest in the Properties by funding an additional $2,250,000 in exploration expenditures over an additional two year period. El Nino has elected to enter into a participation agreement wherein it can earn 50% of Votorantim's interest by paying 50% of the costs incurred by Votorantim in the Option and Joint Venture Agreement.
About Murray Brook Deposit;
The Murray Brook deposit is a polymetallic, volcanic hosted, massive-sulfide deposit and is the fifth largest in the Bathurst Mining Camp. The property is located approximately 60 km west of Bathurst New Brunswick, in Restigouche County, within the Bathurst Mining Camp. An existing gravel road accesses the property from a paved highway. The electricity grid is nearby, as are communities with goods, services and skilled labor. The gossan zone was removed during the open-pit mining operations carried out by Novagold Resources Inc. during the early 1990s. The hanging wall is moderately chloritic and is locally intensely deformed. The foot wall consists of fine grained, felsic tuff and tuffaceous sediments with moderate to strong chlorite and sericite alteration. Sulfides are mainly fine grained, massive, vaguely laminated pyrite with disseminated and banded sphalerite, chalcopyrite and galena. Removal of the gossan also removed any evidence of previous drilling within the shallow pit area. Consequently, VM Canada's due diligence process to acquire the Murray Brook deposit required the confirmation of several historically, reported drill results, in addition to compilation of previous work.Significant drill results from the due diligence, drill twin-hole program included massive sulfide intersections that were similar in width, position and positively confirmed the grades for copper, lead, zinc, gold and silver reported from the three previously drilled holes. Based in part on these results, VM Canada entered into an option agreement with Murray Brook Minerals. Subsequentley ElNino Ventures entered into an option agreement with Voterantim Canada on January 3rd, 2011 exercising its area of interest rights in the TriParty agreement dated May 4th 2011.
Votorantim Metals Canada Statement:
Technical details in this news release were provided by VM Canada whose professional geologists conduct operations consistent with mineral industry best practices. VM Canada accepts no responsibility for this news release or any inferences made from the technical details provided herein.
About VM Canada (Votorantim Metals Canada Inc.)
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metals; a company that is part of the Votorantim Group that was founded in Brazil in 1918 operates in twenty countries and has over forty thousand employees. Votorantim Metals is the largest electrolytic-nickel producer in Latin America and one of the world's leaders in the production of zinc, aluminium and nickel.
About El Ni�o Ventures Inc.
El Ni�o Ventures Inc. is an international exploration company, focused on exploring for Lead, Zinc, copper, gold and silver in New Brunswick, Canada and Copper/Cobalt in the Democratic Republic of Congo ("DRC").
In Canada, El Nino holds a 50% interest in an extensive base metal project located within the Bathurst Mining camp in Bathurst, New Brunswick, where earlier drilling campaigns have been carried out on several historical deposits of lead, zinc and copper mineralization within the large claim block owned 50% ELN, 50% Xstrata Zinc.
El Ni�o subsequently entered into an option agreement with Votorantim Metals Canada Inc. and Xstrata Zinc Canada (The Bathurst TriParty agreement) whereby Votorantim may earn a 50% interest in El Ni�o's landholdings by expending $10 million over 5 years and may further increase its interest in El Ni�o's landholdings to 70% by expending an additional $10 million over a further two years. (Please see release dated May 4th, 2010).
In January 2011, ELN announced that it has provided notice to Votorantim Metals Canada Inc. (Votorantim) to enter into a Participation Agreement on the Murray Brook Massive Sulphide /Polymetallic Deposit situated in the Bathurst Mining Camp in New Brunswick, Canada. (See press release dated January 20th, 2011).
Votorantim Metals Canada, as operator, conducted a 595.2 meter Diamond drilling program to confirm results reported from previous drilling programs on the Murray Brook mining lease. The drill holes were designed to twin old drill holes that intersected the Murray Brook, Massive sulfide deposit. The twin hole, drill program confirmed the reported grades for copper, lead, zinc, silver and gold and the massive sulfide intercepts are similar in width, to the three previously drilled holes and the massive sulfide intercepts are similar in width. Results of this program were announced on May 2011. (Please see release dated May 11th, 2011).
Phase I drilling was completed and significant zinc, copper, lead, gold and silver mineralization was intersected. Phase II has been initiated.
El Nino's management is aggressively seeking to add to its already extensive property portfolio and acquire additional projects on an International scale that meet our corporate objectives. This includes base and precious metal properties within Africa and North America.
On Behalf of the Board of Directors,
"Harry Barr"
Harry Barr, Chairman and Acting CEO
For further information, please contact Investor Relations at Toll Free 1.800.667.1870
or by email at info@elninoventures.com
|
|
|
|
|
Significant drill results continue to be intersected in the Murray Brook deposit, the fifth largest massive sulfide deposit in the Bathurst Mining Camp |
|
|
-
Drill results confirm higher silver, gold, zinc and lead content than historically reported.
-
Phase I, 15 drill holes completed for a total of 3,132.5 meters
-
$1 Million Phase II drilling program including 6650 meters drilling initiated
-
Massive-sulfide body approaches the surface to the south in the pit area and plunges to the north
-
Out of a total of 1,034 samples obtained from the massive sulfide body, 12% returned assays of greater than 10% lead and zinc combined and 24% returned values of greater than 1 g/t gold.
-
The deposit remains open and there is good potential to increase grade with additional drilling.
August 30th, 2011, Vancouver, Canada. -- El Ni�o Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q) is pleased to announce significant Diamond drill results of the 2011, 15 hole drill program on the Murray Brook Massive-Sulfide Deposit located in the Bathurst Mining camp, New Brunswick, Canada. Votorantim Metals Canada Inc (VM Canada) is operator of the program.
A total of 15 holes have been completed to date on the Murray Brook project. Table 1 below illustrates significant drill results from Phase I, 3132.5 meters, drill program, included massive sulphide intersections.
Phase I drilling campaign focused on three objectives;
-
Infill drilling; Drill holes are located between historical, collar locations; where there are up to 100 meters between reported intercepts in historical holes, compiled from work reports of earlier drill programs.
-
Step-out drilling; to expand the size of the massive-sulfide body.
-
Due Diligent drilling; Votorantim, as operator, conducted a 595.2 meters Diamond drilling program to confirm results reported from previous drilling programs on the Murray Brook mining lease.
The program incorporated recommendations by P&E Consulting to ensure the database is compliant with protocols required for a NI 43-101 resource calculation. A total of 1,034 samples were analysed at TSL Laboratories Inc. (TSL) in Saskatoon, Saskatchewan.
Table-1 Significant Phase I Drill intervals
|
Hole
Number |
From
(m) |
To
(m) |
Width
(m) |
Cu
(%) |
Pb
(%) |
Zn
(%) |
Au
(ppm) |
Ag
(ppm) |
|
MB-2010-15 |
163.8 |
167.7 |
3.9 |
0.10 |
2.00 |
9.16 |
1.60 |
77.00 |
|
201.0 |
218.0 |
17.0 |
0.10 |
4.24 |
7.51 |
0.96 |
84.00 |
|
232.0 |
235.0 |
3.0 |
0.13 |
2.65 |
6.25 |
1.02 |
58.00 |
|
MB-2010-16 |
44.0 |
71.0 |
27.0 |
0.47 |
3.39 |
9.56 |
0.12 |
122.00 |
|
79.0 |
91.0 |
12.0 |
0.08 |
2.22 |
6.98 |
0.10 |
89.00 |
|
MB-2010-17 |
15.0 |
95.0 |
80.0 |
0.33 |
0.63 |
1.28 |
0.65 |
26.32 |
|
MB-2011-02 |
42.5 |
164.3 |
121.8 |
0.26 |
1.07 |
3.32 |
0.26 |
34.61 |
|
MB-2011-03 |
92.0 |
172.6 |
80.6 |
0.83 |
0.98 |
1.89 |
0.80 |
47.06 |
|
MB-2011-04 |
141.0 |
217.0 |
76.0 |
0.53 |
1.21 |
2.35 |
1.31 |
45.28 |
|
MB-2011-05 |
73.5 |
155.0 |
81.5 |
1.12 |
0.44 |
1.02 |
0.46 |
20.97 |
|
MB-2011-06 |
47.4 |
77.7 |
30.3 |
0.26 |
0.99 |
2.13 |
0.90 |
46.31 |
|
MB-2011-07 |
112.5 |
138.1 |
25.6 |
0.34 |
1.05 |
2.28 |
0.92 |
46.52 |
|
MB-2011-08 |
11.0 |
64.2 |
53.2 |
0.30 |
0.80 |
1.74 |
1.04 |
39.66 |
|
MB-2011-09 |
101.0 |
176.1 |
75.1 |
0.13 |
1.43 |
3.84 |
0.36 |
59.37 |
|
MB-2011-10 |
179.5 |
216.0 |
36.5 |
0.25 |
1.90 |
4.65 |
1.00 |
69.86 |
|
MB-2011-11 |
187.6 |
201.8 |
14.2 |
0.20 |
1.52 |
3.73 |
0.79 |
52.94 |
|
MB-2011-13 |
27.0 |
126.0 |
99.3 |
0.22 |
1.16 |
3.38 |
0.62 |
40.59 |
|
MB-2011-14 |
160.5 |
225.0 |
64.5 |
0.23 |
0.78 |
3.87 |
0.66 |
35.50 |
The weighted average, metal content of complete sulfide intervals through the deposit from all 15 holes, comprising 1,034 samples obtained from 1,069.5 meters of massive to semi-massive sulfide @ 0% metal cut-off, yields a weighted average of:
All sulfide intervals: 0.36% Cu; 1.15% Pb; 2.99% Zn; 0.61 g/t Au; and 42.80 g/t Ag.
Out of a total of 1,034 samples obtained from within the massive sulfide body, 121 samples (12%) returned assays of greater than 10% Pb and Zn combined and 248 samples (24%) returned values of greater than 1 g/t Au.
Table-2 illustrates a summary of Assay comparison between historical and VM Canada Diamond Drilling.
Table-2 Composite Assay comparison between historical and VM Canada Diamond Drilling
|
Hole Number |
From (m) |
To (m) |
Width (m) |
Cu% |
Pb% |
Zn% |
Au
(ppm) |
Ag
(ppm) |
Comments |
|
MB-2010-15 |
162.3 |
246 |
83.7 |
0.14 |
1.37 |
3.15 |
0.578 |
33.60 |
Twinned hole MB-98-13 |
|
MB-98-13 |
170.73 |
251.77 |
81.04 |
0.14 |
0.9 |
3.01 |
0.537 |
29.73 |
|
MB-2010-16 |
38 |
132 |
94 |
0.24 |
1.48 |
4.3 |
0.082 |
56.59 |
Twinned hole CP-20 |
|
CP-20 |
41.15 |
134.11 |
92.96 |
0.3 |
1.32 |
3.87 |
0.329 |
60.03 |
|
MB-2010-17 |
15.0 |
95.0 |
80.0 |
0.33 |
0.63 |
1.28 |
0.65 |
26.32 |
Twinned hole R-3 |
|
R-3 |
15.24 |
104.7 |
89.46 |
0.64 |
0.67 |
1.08 |
0.826 |
24.75 |
|
MB-2011-02 |
42.5 |
164.3 |
121.8 |
0.26 |
1.07 |
3.32 |
0.26 |
34.61 |
MB-2011-02 drilled 20m from R-10 |
|
R-10 |
47.55 |
185.93 |
138.38 |
0.24 |
1.01 |
3.14 |
0.444 |
37.12 |
|
MB-2011-03 |
92 |
172.6 |
80.6 |
0.83 |
0.98 |
1.89 |
0.798 |
47.06 |
MB-2011-03 drilled 18m from R-24 |
|
R-24 |
113.39 |
185.32 |
71.93 |
0.56 |
0.98 |
1.81 |
|
|
|
MB-2011-04 |
141 |
217 |
76 |
0.53 |
1.21 |
2.35 |
1.307 |
45.28 |
MB-2011-04, vertical intercept is between MB-98-4 and MB-98-14, both are angled holes |
|
MB-98-4 |
145.82 |
213.36 |
67.54 |
|
0.37 |
1.09 |
0.65 |
28.11 |
|
MB-98-14 |
148.11 |
229.01 |
80.9 |
|
1.09 |
2.92 |
|
46.29 |
|
MB-2011-05 |
73.5 |
155 |
81.5 |
1.12 |
0.44 |
1.02 |
0.46 |
20.97 |
MB-2011-05 drilled 25m from R-20 |
|
R-20 |
51.82 |
164.59 |
112.77 |
0.51 |
1.14 |
2.07 |
|
|
|
MB-2011-06 |
47.4 |
77.7 |
30.3 |
0.26 |
0.99 |
2.13 |
0.90 |
46.31 |
MB-2011-06 drilled 44m from R-45 |
|
R-44 |
78.64 |
117.04 |
38.4 |
0.4 |
1.2 |
1.96 |
|
|
|
MB-2011-07 |
112.5 |
138.1 |
25.6 |
0.34 |
1.05 |
2.28 |
0.92 |
46.52 |
MB-2011-07 drilled 29m from R-22 |
|
R-22 |
146.3 |
160.02 |
13.72 |
0.55 |
1.33 |
2.18 |
|
|
|
MB-2011-08 |
11.0 |
64.2 |
53.2 |
0.30 |
0.80 |
1.74 |
1.04 |
39.66 |
MB-2011-08 drilled 29m from R-35 |
|
R-35 |
24.99 |
128.32 |
103.33 |
0.55 |
0.43 |
0.67 |
0.466 |
33.60 |
|
MB-2011-09 |
101.0 |
176.1 |
75.1 |
0.13 |
1.43 |
3.84 |
0.36 |
59.37 |
MB-2011-09 angled intercept is close
to R-7, which was drilled vertically |
|
R-7 |
131.67 |
188.64 |
57 |
0.2 |
2.02 |
4.99 |
0.601 |
67.73 |
|
MB-2011-10 |
179.5 |
216.0 |
36.5 |
0.25 |
1.90 |
4.65 |
1.00 |
69.86 |
|
|
MB-2011-11 |
187.6 |
201.8 |
14.2 |
0.20 |
1.52 |
3.73 |
0.79 |
52.94 |
Higher grade Zinc Zone on the west edge
of the deposit |
|
MB-2011-13 |
27.0 |
126.0 |
99.3 |
0.22 |
1.16 |
3.38 |
0.62 |
40.59 |
Drilled between CP-19 & 27, 30m from each |
|
CP-19 |
51.82 |
168.86 |
117.04 |
0.16 |
0.59 |
2.53 |
0.23 |
28.18 |
|
CP-27 |
31.7 |
88.7 |
57 |
3.14 |
0.22 |
0.62 |
0.036 |
16.39 |
|
MB-2011-14 |
160.5 |
225.0 |
64.5 |
0.23 |
0.78 |
3.87 |
0.66 |
35.50 |
|
|
MB-98-10 |
224.14 |
271.95 |
47.81 |
0.31 |
2.21 |
5.25 |
1.324 |
78.88 |
|
MB-98-11 |
239.08 |
254.84 |
15.76 |
0.17 |
1.94 |
4.58 |
1.035 |
54.26 |
|
MB-98-5A |
144.17 |
237.74 |
93.57 |
0.14 |
1.54 |
4.02 |
0.489 |
58.04 |
These assay results confirm and/or exceed historical results reported by previous operators, who in many instances did not assay for precious metals, and are very encouraging with further Diamond drilling recommended evaluating the deposit. The deposit remains open and there is good potential to increase grade with additional drilling.
QA/QC Program:
The sample process follows these procedures. Mineralized samples are selected for assay from the NQ core and sawed with a Diamond blade rock saw. The samples are bagged in a plastic sample bag with the sample number and sealed with a plastic locking tie. Six or seven rock samples are placed in a rice bag and sealed with a Bag Guard Seal with a 7-digit number. The rice bag is sealed in a plastic bucket container and numbered. Shipments of approximately 20 buckets are sent by Day and Ross via their secure shipping facilities to TSL in Saskatoon, Saskatchewan. TSL would report to VM Canada if there was any evidence of tampering of which no reports have been received to date. Quality control is monitored by submitting a field blank, a standard and a duplicate sample with each 30 sample batch sent to the laboratory for analysis. The field blank is barren coarse-quartz sand. The field duplicate is a sawn, quarter split of a core sample selected from the same batch. Two types of standards, ME-6 low grade and ME-7 medium grade, were purchased from Canadian Resource Laboratories, Langley, British Columbia. The OREAS_38, high-grade standard was purchased from Analytical Solutions Ltd, Toronto, Ontario. The quality control sample results are monitored for any assay problems as the data is received from the laboratory. Assay values returned for blanks are at or below the detection limit. Variability of assay values returned for standards are within plus or minus 5% which is considered to be within an acceptable range of analytical error.
Qualified Person Statement
This news release has been reviewed and approved for technical content by John Londry MSc., P.Geo, a director of the Company and a qualified person under the provisions of National Instrument 43-101.
About El Ni�o Ventures Bathurst Projects;
-
Bathurst Mining Camp Project:
(TriParty Agreement) Consists of an initial 4,712 claims in tri-party agreement with Xstrata & VM Canada whereby VM Canada may incur exploration expenditures of $10 million over a period of 5 years to earn a 50% interest. VM Canada may further increase its interest to 70% by spending an additional $10 million over 2 years.
In February 2011, ELN announced that a $5 million exploration program on the Bathurst Mining Camp Base Metals Project has begun consisting of airborne and ground geophysics and will include a 10,000 metre drill program which is currently underway. (See press release dated February 23, 2011).
Airborne geophysics is completed and survey results are pending;
-
Murray Brook Project: Under Votorantim's Option and Joint Venture Agreement with Murray Brook Minerals and Murray Brook Resources, both privately held companies, Votorantim can earn a 50% interest in the Properties, by funding $2,250,000 in exploration expenditures and making payments totalling $300,000 over a three year period commencing November 1st, 2010. Votorantim can earn an additional 20% interest in the Properties by funding an additional $2,250,000 in exploration expenditures over an additional two year period. El Nino has elected to enter into a participation agreement wherein it can earn 50% of Votorantim's interest by paying 50% of the costs incurred by Votorantim in the Option and Joint Venture Agreement.
About Murray Brook Deposit;
The Murray Brook deposit is a polymetallic, volcanic hosted, massive-sulfide deposit and is the fifth largest in the Bathurst Mining Camp. The property is located approximately 60 km west of Bathurst New Brunswick, in Restigouche County, within the Bathurst Mining Camp. An existing gravel road accesses the property from a paved highway. The electricity grid is nearby, as are communities with goods, services and skilled labor. The gossan zone was removed during the open-pit mining operations carried out by Novagold Resources Inc. during the early 1990s. The hanging wall is moderately chloritic and is locally intensely deformed. The foot wall consists of fine grained, felsic tuff and tuffaceous sediments with moderate to strong chlorite and sericite alteration. Sulfides are mainly fine grained, massive, vaguely laminated pyrite with disseminated and banded sphalerite, chalcopyrite and galena. Removal of the gossan also removed any evidence of previous drilling within the shallow pit area. Consequently, VM Canada's due diligence process to acquire the Murray Brook deposit required the confirmation of several historically, reported drill results, in addition to compilation of previous work.Significant drill results from the due diligence, drill twin-hole program included massive sulfide intersections that were similar in width, position and positively confirmed the grades for copper, lead, zinc, gold and silver reported from the three previously drilled holes. Based in part on these results, VM Canada entered into an option agreement with Murray Brook Minerals. Subsequentley ElNino Ventures entered into an option agreement with Voterantim Canada on January 3rd, 2011 exercising its area of interest rights in the TriParty agreement dated May 4th 2011.
Votorantim Metals Canada Statement:
Technical details in this news release were provided by VM Canada whose professional geologists conduct operations consistent with mineral industry best practices. VM Canada accepts no responsibility for this news release or any inferences made from the technical details provided herein.
About VM Canada (Votorantim Metals Canada Inc.)
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metals; a company that is part of the Votorantim Group that was founded in Brazil in 1918 operates in twenty countries and has over forty thousand employees. Votorantim Metals is the largest electrolytic-nickel producer in Latin America and one of the world's leaders in the production of zinc, aluminium and nickel.
About El Ni�o Ventures Inc.
El Ni�o Ventures Inc. is an international exploration company, focused on exploring for Lead, Zinc, copper, gold and silver in New Brunswick, Canada and Copper/Cobalt in the Democratic Republic of Congo ("DRC").
In Canada, El Nino holds a 50% interest in an extensive base metal project located within the Bathurst Mining camp in Bathurst, New Brunswick, where earlier drilling campaigns have been carried out on several historical deposits of lead, zinc and copper mineralization within the large claim block owned 50% ELN, 50% Xstrata Zinc.
El Ni�o subsequently entered into an option agreement with Votorantim Metals Canada Inc. and Xstrata Zinc Canada (The Bathurst TriParty agreement) whereby Votorantim may earn a 50% interest in El Ni�o's landholdings by expending $10 million over 5 years and may further increase its interest in El Ni�o's landholdings to 70% by expending an additional $10 million over a further two years. (Please see release dated May 4th, 2010).
In January 2011, ELN announced that it has provided notice to Votorantim Metals Canada Inc. (Votorantim) to enter into a Participation Agreement on the Murray Brook Massive Sulphide /Polymetallic Deposit situated in the Bathurst Mining Camp in New Brunswick, Canada. (See press release dated January 20th, 2011).
Votorantim Metals Canada, as operator, conducted a 595.2 meter Diamond drilling program to confirm results reported from previous drilling programs on the Murray Brook mining lease. The drill holes were designed to twin old drill holes that intersected the Murray Brook, Massive sulfide deposit. The twin hole, drill program confirmed the reported grades for copper, lead, zinc, silver and gold and the massive sulfide intercepts are similar in width, to the three previously drilled holes and the massive sulfide intercepts are similar in width. Results of this program were announced on May 2011. (Please see release dated May 11th, 2011).
Phase I drilling was completed and significant zinc, copper, lead, gold and silver mineralization was intersected. Phase II has been initiated.
El Nino's management is aggressively seeking to add to its already extensive property portfolio and acquire additional projects on an International scale that meet our corporate objectives. This includes base and precious metal properties within Africa and North America.
On Behalf of the Board of Directors,
"Harry Barr"
Harry Barr, Chairman and Acting CEO
For further information, please contact Investor Relations at Toll Free 1.800.667.1870
or by email at info@elninoventures.com
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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 accuracy of this release.
Note: this release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
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| | |
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("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q) is pleased to announce significant Diamond drill results of the 2011, 15 hole drill program on the Murray Brook Massive-Sulfide Deposit located in the Bathurst Mining camp, New Brunswick, Canada. Votorantim Metals Canada Inc (VM Canada) is operator of the program.
A total of 15 holes have been completed to date on the Murray Brook project. Table 1 below illustrates significant drill results from Phase I, 3132.5 meters, drill program, included massive sulphide intersections.
Phase I drilling campaign focused on three objectives;
-
Infill drilling; Drill holes are located between historical, collar locations; where there are up to 100 meters between reported intercepts in historical holes, compiled from work reports of earlier drill programs.
-
Step-out drilling; to expand the size of the massive-sulfide body.
-
Due Diligent drilling; Votorantim, as operator, conducted a 595.2 meters Diamond drilling program to confirm results reported from previous drilling programs on the Murray Brook mining lease.
The program incorporated recommendations by P&E Consulting to ensure the database is compliant with protocols required for a NI 43-101 resource calculation. A total of 1,034 samples were analysed at TSL Laboratories Inc. (TSL) in Saskatoon, Saskatchewan.
Table-1 Significant Phase I Drill intervals
|
Hole
Number |
From
(m) |
To
(m) |
Width
(m) |
Cu
(%) |
Pb
(%) |
Zn
(%) |
Au
(ppm) |
Ag
(ppm) |
|
MB-2010-15 |
163.8 |
167.7 |
3.9 |
0.10 |
2.00 |
9.16 |
1.60 |
77.00 |
|
201.0 |
218.0 |
17.0 |
0.10 |
4.24 |
7.51 |
0.96 |
84.00 |
|
232.0 |
235.0 |
3.0 |
0.13 |
2.65 |
6.25 |
1.02 |
58.00 |
|
MB-2010-16 |
44.0 |
71.0 |
27.0 |
0.47 |
3.39 |
9.56 |
0.12 |
122.00 |
|
79.0 |
91.0 |
12.0 |
0.08 |
2.22 |
6.98 |
0.10 |
89.00 |
|
MB-2010-17 |
15.0 |
95.0 |
80.0 |
0.33 |
0.63 |
1.28 |
0.65 |
26.32 |
|
MB-2011-02 |
42.5 |
164.3 |
121.8 |
0.26 |
1.07 |
3.32 |
0.26 |
34.61 |
|
MB-2011-03 |
92.0 |
172.6 |
80.6 |
0.83 |
0.98 |
1.89 |
0.80 |
47.06 |
|
MB-2011-04 |
141.0 |
217.0 |
76.0 |
0.53 |
1.21 |
2.35 |
1.31 |
45.28 |
|
MB-2011-05 |
73.5 |
155.0 |
81.5 |
1.12 |
0.44 |
1.02 |
0.46 |
20.97 |
|
MB-2011-06 |
47.4 |
77.7 |
30.3 |
0.26 |
0.99 |
2.13 |
0.90 |
46.31 |
|
MB-2011-07 |
112.5 |
138.1 |
25.6 |
0.34 |
1.05 |
2.28 |
0.92 |
46.52 |
|
MB-2011-08 |
11.0 |
64.2 |
53.2 |
0.30 |
0.80 |
1.74 |
1.04 |
39.66 |
|
MB-2011-09 |
101.0 |
176.1 |
75.1 |
0.13 |
1.43 |
3.84 |
0.36 |
59.37 |
|
MB-2011-10 |
179.5 |
216.0 |
36.5 |
0.25 |
1.90 |
4.65 |
1.00 |
69.86 |
|
MB-2011-11 |
187.6 |
201.8 |
14.2 |
0.20 |
1.52 |
3.73 |
0.79 |
52.94 |
|
MB-2011-13 |
27.0 |
126.0 |
99.3 |
0.22 |
1.16 |
3.38 |
0.62 |
40.59 |
|
MB-2011-14 |
160.5 |
225.0 |
64.5 |
0.23 |
0.78 |
3.87 |
0.66 |
35.50 |
The weighted average, metal content of complete sulfide intervals through the deposit from all 15 holes, comprising 1,034 samples obtained from 1,069.5 meters of massive to semi-massive sulfide @ 0% metal cut-off, yields a weighted average of:
All sulfide intervals: 0.36% Cu; 1.15% Pb; 2.99% Zn; 0.61 g/t Au; and 42.80 g/t Ag.
Out of a total of 1,034 samples obtained from within the massive sulfide body, 121 samples (12%) returned assays of greater than 10% Pb and Zn combined and 248 samples (24%) returned values of greater than 1 g/t Au.
Table-2 illustrates a summary of Assay comparison between historical and VM Canada Diamond Drilling.
Table-2 Composite Assay comparison between historical and VM Canada Diamond Drilling
|
Hole Number |
From (m) |
To (m) |
Width (m) |
Cu% |
Pb% |
Zn% |
Au
(ppm) |
Ag
(ppm) |
Comments |
|
MB-2010-15 |
162.3 |
246 |
83.7 |
0.14 |
1.37 |
3.15 |
0.578 |
33.60 |
Twinned hole MB-98-13 |
|
MB-98-13 |
170.73 |
251.77 |
81.04 |
0.14 |
0.9 |
3.01 |
0.537 |
29.73 |
|
MB-2010-16 |
38 |
132 |
94 |
0.24 |
1.48 |
4.3 |
0.082 |
56.59 |
Twinned hole CP-20 |
|
CP-20 |
41.15 |
134.11 |
92.96 |
0.3 |
1.32 |
3.87 |
0.329 |
60.03 |
|
MB-2010-17 |
15.0 |
95.0 |
80.0 |
0.33 |
0.63 |
1.28 |
0.65 |
26.32 |
Twinned hole R-3 |
|
R-3 |
15.24 |
104.7 |
89.46 |
0.64 |
0.67 |
1.08 |
0.826 |
24.75 |
|
MB-2011-02 |
42.5 |
164.3 |
121.8 |
0.26 |
1.07 |
3.32 |
0.26 |
34.61 |
MB-2011-02 drilled 20m from R-10 |
|
R-10 |
47.55 |
185.93 |
138.38 |
0.24 |
1.01 |
3.14 |
0.444 |
37.12 |
|
MB-2011-03 |
92 |
172.6 |
80.6 |
0.83 |
0.98 |
1.89 |
0.798 |
47.06 |
MB-2011-03 drilled 18m from R-24 |
|
R-24 |
113.39 |
185.32 |
71.93 |
0.56 |
0.98 |
1.81 |
|
|
|
MB-2011-04 |
141 |
217 |
76 |
0.53 |
1.21 |
2.35 |
1.307 |
45.28 |
MB-2011-04, vertical intercept is between MB-98-4 and MB-98-14, both are angled holes |
|
MB-98-4 |
145.82 |
213.36 |
67.54 |
|
0.37 |
1.09 |
0.65 |
28.11 |
|
MB-98-14 |
148.11 |
229.01 |
80.9 |
|
1.09 |
2.92 |
|
46.29 |
|
MB-2011-05 |
73.5 |
155 |
81.5 |
1.12 |
0.44 |
1.02 |
0.46 |
20.97 |
MB-2011-05 drilled 25m from R-20 |
|
R-20 |
51.82 |
164.59 |
112.77 |
0.51 |
1.14 |
2.07 |
|
|
|
MB-2011-06 |
47.4 |
77.7 |
30.3 |
0.26 |
0.99 |
2.13 |
0.90 |
46.31 |
MB-2011-06 drilled 44m from R-45 |
|
R-44 |
78.64 |
117.04 |
38.4 |
0.4 |
1.2 |
1.96 |
|
|
|
MB-2011-07 |
112.5 |
138.1 |
25.6 |
0.34 |
1.05 |
2.28 |
0.92 |
46.52 |
MB-2011-07 drilled 29m from R-22 |
|
R-22 |
146.3 |
160.02 |
13.72 |
0.55 |
1.33 |
2.18 |
|
|
|
MB-2011-08 |
11.0 |
64.2 |
53.2 |
0.30 |
0.80 |
1.74 |
1.04 |
39.66 |
MB-2011-08 drilled 29m from R-35 |
|
R-35 |
24.99 |
128.32 |
103.33 |
0.55 |
0.43 |
0.67 |
0.466 |
33.60 |
|
MB-2011-09 |
101.0 |
176.1 |
75.1 |
0.13 |
1.43 |
3.84 |
0.36 |
59.37 |
MB-2011-09 angled intercept is close
to R-7, which was drilled vertically |
|
R-7 |
131.67 |
188.64 |
57 |
0.2 |
2.02 |
4.99 |
0.601 |
67.73 |
|
MB-2011-10 |
179.5 |
216.0 |
36.5 |
0.25 |
1.90 |
4.65 |
1.00 |
69.86 |
|
|
MB-2011-11 |
187.6 |
201.8 |
14.2 |
0.20 |
1.52 |
3.73 |
0.79 |
52.94 |
Higher grade Zinc Zone on the west edge
of the deposit |
|
MB-2011-13 |
27.0 |
126.0 |
99.3 |
0.22 |
1.16 |
3.38 |
0.62 |
40.59 |
Drilled between CP-19 & 27, 30m from each |
|
CP-19 |
51.82 |
168.86 |
117.04 |
0.16 |
0.59 |
2.53 |
0.23 |
28.18 |
|
CP-27 |
31.7 |
88.7 |
57 |
3.14 |
0.22 |
0.62 |
0.036 |
16.39 |
|
MB-2011-14 |
160.5 |
225.0 |
64.5 |
0.23 |
0.78 |
3.87 |
0.66 |
35.50 |
|
|
MB-98-10 |
224.14 |
271.95 |
47.81 |
0.31 |
2.21 |
5.25 |
1.324 |
78.88 |
|
MB-98-11 |
239.08 |
254.84 |
15.76 |
0.17 |
1.94 |
4.58 |
1.035 |
54.26 |
|
MB-98-5A |
144.17 |
237.74 |
93.57 |
0.14 |
1.54 |
4.02 |
0.489 |
58.04 |
These assay results confirm and/or exceed historical results reported by previous operators, who in many instances did not assay for precious metals, and are very encouraging with further Diamond drilling recommended evaluating the deposit. The deposit remains open and there is good potential to increase grade with additional drilling.
QA/QC Program:
The sample process follows these procedures. Mineralized samples are selected for assay from the NQ core and sawed with a Diamond blade rock saw. The samples are bagged in a plastic sample bag with the sample number and sealed with a plastic locking tie. Six or seven rock samples are placed in a rice bag and sealed with a Bag Guard Seal with a 7-digit number. The rice bag is sealed in a plastic bucket container and numbered. Shipments of approximately 20 buckets are sent by Day and Ross via their secure shipping facilities to TSL in Saskatoon, Saskatchewan. TSL would report to VM Canada if there was any evidence of tampering of which no reports have been received to date. Quality control is monitored by submitting a field blank, a standard and a duplicate sample with each 30 sample batch sent to the laboratory for analysis. The field blank is barren coarse-quartz sand. The field duplicate is a sawn, quarter split of a core sample selected from the same batch. Two types of standards, ME-6 low grade and ME-7 medium grade, were purchased from Canadian Resource Laboratories, Langley, British Columbia. The OREAS_38, high-grade standard was purchased from Analytical Solutions Ltd, Toronto, Ontario. The quality control sample results are monitored for any assay problems as the data is received from the laboratory. Assay values returned for blanks are at or below the detection limit. Variability of assay values returned for standards are within plus or minus 5% which is considered to be within an acceptable range of analytical error.
Qualified Person Statement
This news release has been reviewed and approved for technical content by John Londry MSc., P.Geo, a director of the Company and a qualified person under the provisions of National Instrument 43-101.
About El Ni�o Ventures Bathurst Projects;
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Bathurst Mining Camp Project:
(TriParty Agreement) Consists of an initial 4,712 claims in tri-party agreement with Xstrata & VM Canada whereby VM Canada may incur exploration expenditures of $10 million over a period of 5 years to earn a 50% interest. VM Canada may further increase its interest to 70% by spending an additional $10 million over 2 years.
In February 2011, ELN announced that a $5 million exploration program on the Bathurst Mining Camp Base Metals Project has begun consisting of airborne and ground geophysics and will include a 10,000 metre drill program which is currently underway. (See press release dated February 23, 2011).
Airborne geophysics is completed and survey results are pending;
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Murray Brook Project: Under Votorantim's Option and Joint Venture Agreement with Murray Brook Minerals and Murray Brook Resources, both privately held companies, Votorantim can earn a 50% interest in the Properties, by funding $2,250,000 in exploration expenditures and making payments totalling $300,000 over a three year period commencing November 1st, 2010. Votorantim can earn an additional 20% interest in the Properties by funding an additional $2,250,000 in exploration expenditures over an additional two year period. El Nino has elected to enter into a participation agreement wherein it can earn 50% of Votorantim's interest by paying 50% of the costs incurred by Votorantim in the Option and Joint Venture Agreement.
About Murray Brook Deposit;
The Murray Brook deposit is a polymetallic, volcanic hosted, massive-sulfide deposit and is the fifth largest in the Bathurst Mining Camp. The property is located approximately 60 km west of Bathurst New Brunswick, in Restigouche County, within the Bathurst Mining Camp. An existing gravel road accesses the property from a paved highway. The electricity grid is nearby, as are communities with goods, services and skilled labor. The gossan zone was removed during the open-pit mining operations carried out by Novagold Resources Inc. during the early 1990s. The hanging wall is moderately chloritic and is locally intensely deformed. The foot wall consists of fine grained, felsic tuff and tuffaceous sediments with moderate to strong chlorite and sericite alteration. Sulfides are mainly fine grained, massive, vaguely laminated pyrite with disseminated and banded sphalerite, chalcopyrite and galena. Removal of the gossan also removed any evidence of previous drilling within the shallow pit area. Consequently, VM Canada's due diligence process to acquire the Murray Brook deposit required the confirmation of several historically, reported drill results, in addition to compilation of previous work.Significant drill results from the due diligence, drill twin-hole program included massive sulfide intersections that were similar in width, position and positively confirmed the grades for copper, lead, zinc, gold and silver reported from the three previously drilled holes. Based in part on these results, VM Canada entered into an option agreement with Murray Brook Minerals. Subsequentley ElNino Ventures entered into an option agreement with Voterantim Canada on January 3rd, 2011 exercising its area of interest rights in the TriParty agreement dated May 4th 2011.
Votorantim Metals Canada Statement:
Technical details in this news release were provided by VM Canada whose professional geologists conduct operations consistent with mineral industry best practices. VM Canada accepts no responsibility for this news release or any inferences made from the technical details provided herein.
About VM Canada (Votorantim Metals Canada Inc.)
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metals; a company that is part of the Votorantim Group that was founded in Brazil in 1918 operates in twenty countries and has over forty thousand employees. Votorantim Metals is the largest electrolytic-nickel producer in Latin America and one of the world's leaders in the production of zinc, aluminium and nickel.
About El Ni�o Ventures Inc.
El Ni�o Ventures Inc. is an international exploration company, focused on exploring for Lead, Zinc, copper, gold and silver in New Brunswick, Canada and Copper/Cobalt in the Democratic Republic of Congo ("DRC").
In Canada, El Nino holds a 50% interest in an extensive base metal project located within the Bathurst Mining camp in Bathurst, New Brunswick, where earlier drilling campaigns have been carried out on several historical deposits of lead, zinc and copper mineralization within the large claim block owned 50% ELN, 50% Xstrata Zinc.
El Ni�o subsequently entered into an option agreement with Votorantim Metals Canada Inc. and Xstrata Zinc Canada (The Bathurst TriParty agreement) whereby Votorantim may earn a 50% interest in El Ni�o's landholdings by expending $10 million over 5 years and may further increase its interest in El Ni�o's landholdings to 70% by expending an additional $10 million over a further two years. (Please see release dated May 4th, 2010).
In January 2011, ELN announced that it has provided notice to Votorantim Metals Canada Inc. (Votorantim) to enter into a Participation Agreement on the Murray Brook Massive Sulphide /Polymetallic Deposit situated in the Bathurst Mining Camp in New Brunswick, Canada. (See press release dated January 20th, 2011).
Votorantim Metals Canada, as operator, conducted a 595.2 meter Diamond drilling program to confirm results reported from previous drilling programs on the Murray Brook mining lease. The drill holes were designed to twin old drill holes that intersected the Murray Brook, Massive sulfide deposit. The twin hole, drill program confirmed the reported grades for copper, lead, zinc, silver and gold and the massive sulfide intercepts are similar in width, to the three previously drilled holes and the massive sulfide intercepts are similar in width. Results of this program were announced on May 2011. (Please see release dated May 11th, 2011).
Phase I drilling was completed and significant zinc, copper, lead, gold and silver mineralization was intersected. Phase II has been initiated.
El Nino's management is aggressively seeking to add to its already extensive property portfolio and acquire additional projects on an International scale that meet our corporate objectives. This includes base and precious metal properties within Africa and North America.
On Behalf of the Board of Directors,
"Harry Barr"
Harry Barr, Chairman and Acting CEO
For further information, please contact Investor Relations at Toll Free 1.800.667.1870
or by email at info@elninoventures.com
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Note: this release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
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