 | | | Publié le 18 septembre 2012 | EXPANDS ITS PROJECT INTEREST WITH BRAZIL'S SECOND LARGEST MINING COMPANY |
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Dear Mr. Moreau :
By way of introduction, El Ni�o Ventures Inc. ("ELN") is an international exploration company, focused on exploration for zinc, lead, copper, gold and silver in New Brunswick, Canada and copper-cobalt in the Democratic Republic of Congo (DRC). Our geological and business teams have a wealth of experience in project acquisition, exploration and development.
ELN recently announced a non-brokered $3 million unit offering to advance the company's Murray Brook Project (New Brunswick), for which the company now has the option to increase its interest from 35% to 50%.
news release: http://www.elninoventures.com/i/pdf/090612ELN.pdf
subscription agreement: http://www.elninoventures.com/i/pdf/SEP2012ELNSUBAGR.pdf
|
El Nino Venture's partner in the Murray Brook Project is Votorantim Metals, Brazil's second largest mining company and a leader in zinc production |
ELN has three projects: Murray Brook, Bathurst Option JV, and Kasala.
MURRAY BROOK PROJECT -- ELN/Votorantim/Murray Brook Minerals
The Murray Brook project is a polymetallic, massive sulphide deposit. The Murray Brook deposit's recent NI43-101 resource estimation has moved it from the district's fifth largest in the Bathurst Mining Camp, New Brunswick, to the newest, largest NI43-101 deposit in the district. The Murray Brook property is located 60 km west of Bathurst. The Murray Brook Project is open pit and is supported by excellent infrastructure, including paved roads, grid electricity and communities to provide goods, services and skilled labour.
ELN and Votorantim Metals Canada ("VMC") have advanced the Murray Brook Project to the beginning of the development stage and are planning to complete an updated resource estimation and phase 1 metallurgy studies in 2012, with a Preliminary Economic Assessment Study in 2013 and subject to continued positive results, a Feasibility Study planned for completion by the end of 2014, with the end result being a decision on Commercial Production.
The Votorantim Group is Brazil's second largest mining company and a major producer of zinc, nickel and aluminum with 40,000 employees in 24 countries and net revenues in 2011 of $13.5 billion. See Votorantim's website.
During 2011 and 2012, ELN and VMC completed more than 30,000 metres of drilling. The 2012 drill program was completed in June and over the past couple of months, the company has been announcing strong results from 2012 drilling program. Please see Company's news release. The 2012 drill results have been excellent and will be used to update the NI43-101 before year end.
In February 2012, an NI43-101 resource estimation was announced (see news release). The technical report is filed on SEDAR.com and also available on ELN's website.
A $3 million budget was approved for the 2012 exploration drill program. It includes $2.5 million for drilling and the plan is to take most of the deposit to measured resources at the Murray Brook deposit. $500,000 is budgeted for 2012 for exploration of the Murray Brook and Camel Back properties, both of which are covered by the option agreement with Murray Brook Minerals.
Metallurgical test-work of bulk sample material from the Murray Brook deposit is currently underway. Three HQ diameter diamond holes were drilled to provide sample materials for metallurgical tests. The test-work is focused on determining potential metal recoveries based on a recommended metals recovery process flow sheet which, subsequently, will form the basis for a small scale metallurgical pilot plant program. Metallurgical results, along with an amended resource estimation incorporating the 2012 drill results, will form the basis of a Preliminary Economic Assessment (or Scoping Study) study planned for completion in Q1 2013.
Based on continued success of the Project, additional metallurgical studies (Phase 2- Pilot Plant), Preliminary Economic Assessment Studies, Geotechnical drilling and Environmental assessment and prefeasibility studies, are slated for completion in 2013. See Project page.
Brunswick 12 Mine and Mill
BATHURST OPTION JV PROJECT (Tri-Party Agreement) -- ELN/Xstrata/Votorantim
ELN and Xstrata Zinc Canada (Xstrata) each hold a 50% interest in the largest base metal claim blocks in New Brunswick. The Bathurst Mining Camp is host to a mine and mill complex and smelter owned by Xstrata Zinc Canada. The claims host several historic polymetallic (zinc, copper, lead, gold and silver) occurrences. The Bathurst Mining Camp is home to the largest underground zinc mine in North America, the Brunswick No. 12 deposit, which contained 295 million tonnes of massive sulphide.
In March 2010, ELN and Xstrata entered into a Tri-Party Option Agreement with VMC, whereby the latter can earn 50% interest in the land holdings by incurring exploration expenditures totaling $10 million over 5 years. VMC can increase its interest to 70% by incurring expenditures of an additional $10 million over 2 years. Approximately $6.65 million has been spent to date.
Votorantim's 2011-2012 expenditures will be $5 million and include up to 12,000 metres of drilling. As part of the $5 million exploration program, Votorantim completed airborne geophysical surveys in order to identify new targets. They commenced drill testing airborne gravity targets and completed approximately 5,000 metres of drilling to date and will continue drilling throughout the remainder of 2012. See Project page.
KASALA -- Democratic Republic of the Congo (DRC)
A new copper discovery has been made on the Kasala project; with high grade mineralization over wide intervals and an apparent mineralized strike length of 2.5 km. ELN's Kasala project is located approximately 70 km northwest of Lubumbashi, the second largest city in the Democratic Republic of Congo (DRC). The area is the centre of the country's massive copper-cobalt mining industry, which produces over 10% of the world's copper and 30% of the world's cobalt.
The Kasala project permits are located adjacent to Anvil Mining's (now Mining and Metals Group) Kinsevere Mine, which is expected to produce 24,000 tonnes (52 million pounds) of copper metal annually for the next 20 years. See Project page.
Kasala Overview
-
12,000 metres of reverse circulation and 5,500 metres of diamond drilling programs completed on three of El Ni�o's exploration permits
-
High grade mineralization over wide intervals:
-
22 m @ 3.28% Cu
-
29 m @ 2.82% Cu
-
31 m @ 2.19% Cu
-
11 m @ 3.68% Cu
-
In addition, two major parallel zones identified to the east of Kasala which together have a combined strike length of over 3 km
-
Appeals in opposition to two judgments decided in favour of ELN are expected to be resolved in hearings to be held in the near future. Subsequently, the company expects to resume its exploration and corporate activities.
We consider these projects to have excellent potential for enhancing shareholder value. If you are interested in discussing the details of our announced private placement, we would be happy to arrange a meeting to present our El Ni�o projects and business plan.
Contact: (604) 685-1870 or by email at info@elninoventures.com
Regards,
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
555 West 12th Avenue, Suite 650
City Square, West Tower, Vancouver, B.C. V5Z 3X7
Toll Free 1.800.667.1870 | info@elninoventures.com | www.elninoventures.com |
|
Safe Harbor Statement
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2010 and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events.
Forward Looking Statement
Certain information presented, including discussions of future plans and operations, contains forward-looking statements involving substantial known and unknown risks and uncertainties. These forward-looking statements are subject to risk and uncertainty, many of which are beyond control of company management. These may include, but are not limited to the influence of general economic conditions, industry conditions, fluctuations of commodity prices and foreign exchange rate conditions, prices, rates, environmental risk, industry competition, availability of qualified staff and management, stock market volatility, timely and cost effective | |
|
("ELN") is an international exploration company, focused on exploration for zinc, lead, copper, gold and silver in New Brunswick, Canada and copper-cobalt in the Democratic Republic of Congo (DRC). Our geological and business teams have a wealth of experience in project acquisition, exploration and development.
ELN recently announced a non-brokered $3 million unit offering to advance the company's Murray Brook Project (New Brunswick), for which the company now has the option to increase its interest from 35% to 50%.
news release: http://www.elninoventures.com/i/pdf/090612ELN.pdf
subscription agreement: http://www.elninoventures.com/i/pdf/SEP2012ELNSUBAGR.pdf
|
El Nino Venture's partner in the Murray Brook Project is Votorantim Metals, Brazil's second largest mining company and a leader in zinc production |
ELN has three projects: Murray Brook, Bathurst Option JV, and Kasala.
MURRAY BROOK PROJECT -- ELN/Votorantim/Murray Brook Minerals
The Murray Brook project is a polymetallic, massive sulphide deposit. The Murray Brook deposit's recent NI43-101 resource estimation has moved it from the district's fifth largest in the Bathurst Mining Camp, New Brunswick, to the newest, largest NI43-101 deposit in the district. The Murray Brook property is located 60 km west of Bathurst. The Murray Brook Project is open pit and is supported by excellent infrastructure, including paved roads, grid electricity and communities to provide goods, services and skilled labour.
ELN and Votorantim Metals Canada ("VMC") have advanced the Murray Brook Project to the beginning of the development stage and are planning to complete an updated resource estimation and phase 1 metallurgy studies in 2012, with a Preliminary Economic Assessment Study in 2013 and subject to continued positive results, a Feasibility Study planned for completion by the end of 2014, with the end result being a decision on Commercial Production.
The Votorantim Group is Brazil's second largest mining company and a major producer of zinc, nickel and aluminum with 40,000 employees in 24 countries and net revenues in 2011 of $13.5 billion. See Votorantim's website.
During 2011 and 2012, ELN and VMC completed more than 30,000 metres of drilling. The 2012 drill program was completed in June and over the past couple of months, the company has been announcing strong results from 2012 drilling program. Please see Company's news release. The 2012 drill results have been excellent and will be used to update the NI43-101 before year end.
In February 2012, an NI43-101 resource estimation was announced (see news release). The technical report is filed on SEDAR.com and also available on ELN's website.
A $3 million budget was approved for the 2012 exploration drill program. It includes $2.5 million for drilling and the plan is to take most of the deposit to measured resources at the Murray Brook deposit. $500,000 is budgeted for 2012 for exploration of the Murray Brook and Camel Back properties, both of which are covered by the option agreement with Murray Brook Minerals.
Metallurgical test-work of bulk sample material from the Murray Brook deposit is currently underway. Three HQ diameter diamond holes were drilled to provide sample materials for metallurgical tests. The test-work is focused on determining potential metal recoveries based on a recommended metals recovery process flow sheet which, subsequently, will form the basis for a small scale metallurgical pilot plant program. Metallurgical results, along with an amended resource estimation incorporating the 2012 drill results, will form the basis of a Preliminary Economic Assessment (or Scoping Study) study planned for completion in Q1 2013.
Based on continued success of the Project, additional metallurgical studies (Phase 2- Pilot Plant), Preliminary Economic Assessment Studies, Geotechnical drilling and Environmental assessment and prefeasibility studies, are slated for completion in 2013. See Project page.
Brunswick 12 Mine and Mill
BATHURST OPTION JV PROJECT (Tri-Party Agreement) -- ELN/Xstrata/Votorantim
ELN and Xstrata Zinc Canada (Xstrata) each hold a 50% interest in the largest base metal claim blocks in New Brunswick. The Bathurst Mining Camp is host to a mine and mill complex and smelter owned by Xstrata Zinc Canada. The claims host several historic polymetallic (zinc, copper, lead, gold and silver) occurrences. The Bathurst Mining Camp is home to the largest underground zinc mine in North America, the Brunswick No. 12 deposit, which contained 295 million tonnes of massive sulphide.
In March 2010, ELN and Xstrata entered into a Tri-Party Option Agreement with VMC, whereby the latter can earn 50% interest in the land holdings by incurring exploration expenditures totaling $10 million over 5 years. VMC can increase its interest to 70% by incurring expenditures of an additional $10 million over 2 years. Approximately $6.65 million has been spent to date.
Votorantim's 2011-2012 expenditures will be $5 million and include up to 12,000 metres of drilling. As part of the $5 million exploration program, Votorantim completed airborne geophysical surveys in order to identify new targets. They commenced drill testing airborne gravity targets and completed approximately 5,000 metres of drilling to date and will continue drilling throughout the remainder of 2012. See Project page.
KASALA -- Democratic Republic of the Congo (DRC)
A new copper discovery has been made on the Kasala project; with high grade mineralization over wide intervals and an apparent mineralized strike length of 2.5 km. ELN's Kasala project is located approximately 70 km northwest of Lubumbashi, the second largest city in the Democratic Republic of Congo (DRC). The area is the centre of the country's massive copper-cobalt mining industry, which produces over 10% of the world's copper and 30% of the world's cobalt.
The Kasala project permits are located adjacent to Anvil Mining's (now Mining and Metals Group) Kinsevere Mine, which is expected to produce 24,000 tonnes (52 million pounds) of copper metal annually for the next 20 years. See Project page.
Kasala Overview
-
12,000 metres of reverse circulation and 5,500 metres of diamond drilling programs completed on three of El Ni�o's exploration permits
-
High grade mineralization over wide intervals:
-
22 m @ 3.28% Cu
-
29 m @ 2.82% Cu
-
31 m @ 2.19% Cu
-
11 m @ 3.68% Cu
-
In addition, two major parallel zones identified to the east of Kasala which together have a combined strike length of over 3 km
-
Appeals in opposition to two judgments decided in favour of ELN are expected to be resolved in hearings to be held in the near future. Subsequently, the company expects to resume its exploration and corporate activities.
We consider these projects to have excellent potential for enhancing shareholder value. If you are interested in discussing the details of our announced private placement, we would be happy to arrange a meeting to present our El Ni�o projects and business plan.
Contact: (604) 685-1870 or by email at info@elninoventures.com
Regards,
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
555 West 12th Avenue, Suite 650
City Square, West Tower, Vancouver, B.C. V5Z 3X7
Toll Free 1.800.667.1870 | info@elninoventures.com | www.elninoventures.com |
|
Safe Harbor Statement
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2010 and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events.
Forward Looking Statement
Certain information presented, including discussions of future plans and operations, contains forward-looking statements involving substantial known and unknown risks and uncertainties. These forward-looking statements are subject to risk and uncertainty, many of which are beyond control of company management. These may include, but are not limited to the influence of general economic conditions, industry conditions, fluctuations of commodity prices and foreign exchange rate conditions, prices, rates, environmental risk, industry competition, availability of qualified staff and management, stock market volatility, timely and cost effective |
|
This email should not be construed as an offer to buy or sell securities of El Nino Ventures Inc. |
|
subscription agreement: http://www.elninoventures.com/i/pdf/SEP2012ELNSUBAGR.pdf
|
El Nino Venture's partner in the Murray Brook Project is Votorantim Metals, Brazil's second largest mining company and a leader in zinc production |
ELN has three projects: Murray Brook, Bathurst Option JV, and Kasala.
MURRAY BROOK PROJECT -- ELN/Votorantim/Murray Brook Minerals
The Murray Brook project is a polymetallic, massive sulphide deposit. The Murray Brook deposit's recent NI43-101 resource estimation has moved it from the district's fifth largest in the Bathurst Mining Camp, New Brunswick, to the newest, largest NI43-101 deposit in the district. The Murray Brook property is located 60 km west of Bathurst. The Murray Brook Project is open pit and is supported by excellent infrastructure, including paved roads, grid electricity and communities to provide goods, services and skilled labour.
ELN and Votorantim Metals Canada ("VMC") have advanced the Murray Brook Project to the beginning of the development stage and are planning to complete an updated resource estimation and phase 1 metallurgy studies in 2012, with a Preliminary Economic Assessment Study in 2013 and subject to continued positive results, a Feasibility Study planned for completion by the end of 2014, with the end result being a decision on Commercial Production.
The Votorantim Group is Brazil's second largest mining company and a major producer of zinc, nickel and aluminum with 40,000 employees in 24 countries and net revenues in 2011 of $13.5 billion. See Votorantim's website.
During 2011 and 2012, ELN and VMC completed more than 30,000 metres of drilling. The 2012 drill program was completed in June and over the past couple of months, the company has been announcing strong results from 2012 drilling program. Please see Company's news release. The 2012 drill results have been excellent and will be used to update the NI43-101 before year end.
In February 2012, an NI43-101 resource estimation was announced (see news release). The technical report is filed on SEDAR.com and also available on ELN's website.
A $3 million budget was approved for the 2012 exploration drill program. It includes $2.5 million for drilling and the plan is to take most of the deposit to measured resources at the Murray Brook deposit. $500,000 is budgeted for 2012 for exploration of the Murray Brook and Camel Back properties, both of which are covered by the option agreement with Murray Brook Minerals.
Metallurgical test-work of bulk sample material from the Murray Brook deposit is currently underway. Three HQ diameter diamond holes were drilled to provide sample materials for metallurgical tests. The test-work is focused on determining potential metal recoveries based on a recommended metals recovery process flow sheet which, subsequently, will form the basis for a small scale metallurgical pilot plant program. Metallurgical results, along with an amended resource estimation incorporating the 2012 drill results, will form the basis of a Preliminary Economic Assessment (or Scoping Study) study planned for completion in Q1 2013.
Based on continued success of the Project, additional metallurgical studies (Phase 2- Pilot Plant), Preliminary Economic Assessment Studies, Geotechnical drilling and Environmental assessment and prefeasibility studies, are slated for completion in 2013. See Project page.
Brunswick 12 Mine and Mill
BATHURST OPTION JV PROJECT (Tri-Party Agreement) -- ELN/Xstrata/Votorantim
ELN and Xstrata Zinc Canada (Xstrata) each hold a 50% interest in the largest base metal claim blocks in New Brunswick. The Bathurst Mining Camp is host to a mine and mill complex and smelter owned by Xstrata Zinc Canada. The claims host several historic polymetallic (zinc, copper, lead, gold and silver) occurrences. The Bathurst Mining Camp is home to the largest underground zinc mine in North America, the Brunswick No. 12 deposit, which contained 295 million tonnes of massive sulphide.
In March 2010, ELN and Xstrata entered into a Tri-Party Option Agreement with VMC, whereby the latter can earn 50% interest in the land holdings by incurring exploration expenditures totaling $10 million over 5 years. VMC can increase its interest to 70% by incurring expenditures of an additional $10 million over 2 years. Approximately $6.65 million has been spent to date.
Votorantim's 2011-2012 expenditures will be $5 million and include up to 12,000 metres of drilling. As part of the $5 million exploration program, Votorantim completed airborne geophysical surveys in order to identify new targets. They commenced drill testing airborne gravity targets and completed approximately 5,000 metres of drilling to date and will continue drilling throughout the remainder of 2012. See Project page.
KASALA -- Democratic Republic of the Congo (DRC)
A new copper discovery has been made on the Kasala project; with high grade mineralization over wide intervals and an apparent mineralized strike length of 2.5 km. ELN's Kasala project is located approximately 70 km northwest of Lubumbashi, the second largest city in the Democratic Republic of Congo (DRC). The area is the centre of the country's massive copper-cobalt mining industry, which produces over 10% of the world's copper and 30% of the world's cobalt.
The Kasala project permits are located adjacent to Anvil Mining's (now Mining and Metals Group) Kinsevere Mine, which is expected to produce 24,000 tonnes (52 million pounds) of copper metal annually for the next 20 years. See Project page.
Kasala Overview
-
12,000 metres of reverse circulation and 5,500 metres of diamond drilling programs completed on three of El Ni�o's exploration permits
-
High grade mineralization over wide intervals:
-
22 m @ 3.28% Cu
-
29 m @ 2.82% Cu
-
31 m @ 2.19% Cu
-
11 m @ 3.68% Cu
-
In addition, two major parallel zones identified to the east of Kasala which together have a combined strike length of over 3 km
-
Appeals in opposition to two judgments decided in favour of ELN are expected to be resolved in hearings to be held in the near future. Subsequently, the company expects to resume its exploration and corporate activities.
We consider these projects to have excellent potential for enhancing shareholder value. If you are interested in discussing the details of our announced private placement, we would be happy to arrange a meeting to present our El Ni�o projects and business plan.
Contact: (604) 685-1870 or by email at info@elninoventures.com
Regards,
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
555 West 12th Avenue, Suite 650
City Square, West Tower, Vancouver, B.C. V5Z 3X7
Toll Free 1.800.667.1870 | info@elninoventures.com | www.elninoventures.com |
|
Safe Harbor Statement
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2010 and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events.
Forward Looking Statement
Certain information presented, including discussions of future plans and operations, contains forward-looking statements involving substantial known and unknown risks and uncertainties. These forward-looking statements are subject to risk and uncertainty, many of which are beyond control of company management. These may include, but are not limited to the influence of general economic conditions, industry conditions, fluctuations of commodity prices and foreign exchange rate conditions, prices, rates, environmental risk, industry competition, availability of qualified staff and management, stock market volatility, timely and cost effective |
|
|
("ELN") is an international exploration company, focused on exploration for zinc, lead, copper, gold and silver in New Brunswick, Canada and copper-cobalt in the Democratic Republic of Congo (DRC). Our geological and business teams have a wealth of experience in project acquisition, exploration and development.
ELN recently announced a non-brokered $3 million unit offering to advance the company's Murray Brook Project (New Brunswick), for which the company now has the option to increase its interest from 35% to 50%.
news release: http://www.elninoventures.com/i/pdf/090612ELN.pdf
subscription agreement: http://www.elninoventures.com/i/pdf/SEP2012ELNSUBAGR.pdf
|
El Nino Venture's partner in the Murray Brook Project is Votorantim Metals, Brazil's second largest mining company and a leader in zinc production |
ELN has three projects: Murray Brook, Bathurst Option JV, and Kasala.
MURRAY BROOK PROJECT -- ELN/Votorantim/Murray Brook Minerals
The Murray Brook project is a polymetallic, massive sulphide deposit. The Murray Brook deposit's recent NI43-101 resource estimation has moved it from the district's fifth largest in the Bathurst Mining Camp, New Brunswick, to the newest, largest NI43-101 deposit in the district. The Murray Brook property is located 60 km west of Bathurst. The Murray Brook Project is open pit and is supported by excellent infrastructure, including paved roads, grid electricity and communities to provide goods, services and skilled labour.
ELN and Votorantim Metals Canada ("VMC") have advanced the Murray Brook Project to the beginning of the development stage and are planning to complete an updated resource estimation and phase 1 metallurgy studies in 2012, with a Preliminary Economic Assessment Study in 2013 and subject to continued positive results, a Feasibility Study planned for completion by the end of 2014, with the end result being a decision on Commercial Production.
The Votorantim Group is Brazil's second largest mining company and a major producer of zinc, nickel and aluminum with 40,000 employees in 24 countries and net revenues in 2011 of $13.5 billion. See Votorantim's website.
During 2011 and 2012, ELN and VMC completed more than 30,000 metres of drilling. The 2012 drill program was completed in June and over the past couple of months, the company has been announcing strong results from 2012 drilling program. Please see Company's news release. The 2012 drill results have been excellent and will be used to update the NI43-101 before year end.
In February 2012, an NI43-101 resource estimation was announced (see news release). The technical report is filed on SEDAR.com and also available on ELN's website.
A $3 million budget was approved for the 2012 exploration drill program. It includes $2.5 million for drilling and the plan is to take most of the deposit to measured resources at the Murray Brook deposit. $500,000 is budgeted for 2012 for exploration of the Murray Brook and Camel Back properties, both of which are covered by the option agreement with Murray Brook Minerals.
Metallurgical test-work of bulk sample material from the Murray Brook deposit is currently underway. Three HQ diameter diamond holes were drilled to provide sample materials for metallurgical tests. The test-work is focused on determining potential metal recoveries based on a recommended metals recovery process flow sheet which, subsequently, will form the basis for a small scale metallurgical pilot plant program. Metallurgical results, along with an amended resource estimation incorporating the 2012 drill results, will form the basis of a Preliminary Economic Assessment (or Scoping Study) study planned for completion in Q1 2013.
Based on continued success of the Project, additional metallurgical studies (Phase 2- Pilot Plant), Preliminary Economic Assessment Studies, Geotechnical drilling and Environmental assessment and prefeasibility studies, are slated for completion in 2013. See Project page.
Brunswick 12 Mine and Mill
BATHURST OPTION JV PROJECT (Tri-Party Agreement) -- ELN/Xstrata/Votorantim
ELN and Xstrata Zinc Canada (Xstrata) each hold a 50% interest in the largest base metal claim blocks in New Brunswick. The Bathurst Mining Camp is host to a mine and mill complex and smelter owned by Xstrata Zinc Canada. The claims host several historic polymetallic (zinc, copper, lead, gold and silver) occurrences. The Bathurst Mining Camp is home to the largest underground zinc mine in North America, the Brunswick No. 12 deposit, which contained 295 million tonnes of massive sulphide.
In March 2010, ELN and Xstrata entered into a Tri-Party Option Agreement with VMC, whereby the latter can earn 50% interest in the land holdings by incurring exploration expenditures totaling $10 million over 5 years. VMC can increase its interest to 70% by incurring expenditures of an additional $10 million over 2 years. Approximately $6.65 million has been spent to date.
Votorantim's 2011-2012 expenditures will be $5 million and include up to 12,000 metres of drilling. As part of the $5 million exploration program, Votorantim completed airborne geophysical surveys in order to identify new targets. They commenced drill testing airborne gravity targets and completed approximately 5,000 metres of drilling to date and will continue drilling throughout the remainder of 2012. See Project page.
KASALA -- Democratic Republic of the Congo (DRC)
A new copper discovery has been made on the Kasala project; with high grade mineralization over wide intervals and an apparent mineralized strike length of 2.5 km. ELN's Kasala project is located approximately 70 km northwest of Lubumbashi, the second largest city in the Democratic Republic of Congo (DRC). The area is the centre of the country's massive copper-cobalt mining industry, which produces over 10% of the world's copper and 30% of the world's cobalt.
The Kasala project permits are located adjacent to Anvil Mining's (now Mining and Metals Group) Kinsevere Mine, which is expected to produce 24,000 tonnes (52 million pounds) of copper metal annually for the next 20 years. See Project page.
Kasala Overview
-
12,000 metres of reverse circulation and 5,500 metres of diamond drilling programs completed on three of El Ni�o's exploration permits
-
High grade mineralization over wide intervals:
-
22 m @ 3.28% Cu
-
29 m @ 2.82% Cu
-
31 m @ 2.19% Cu
-
11 m @ 3.68% Cu
-
In addition, two major parallel zones identified to the east of Kasala which together have a combined strike length of over 3 km
-
Appeals in opposition to two judgments decided in favour of ELN are expected to be resolved in hearings to be held in the near future. Subsequently, the company expects to resume its exploration and corporate activities.
We consider these projects to have excellent potential for enhancing shareholder value. If you are interested in discussing the details of our announced private placement, we would be happy to arrange a meeting to present our El Ni�o projects and business plan.
Contact: (604) 685-1870 or by email at info@elninoventures.com
Regards,
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
555 West 12th Avenue, Suite 650
City Square, West Tower, Vancouver, B.C. V5Z 3X7
Toll Free 1.800.667.1870 | info@elninoventures.com | www.elninoventures.com |
|
Safe Harbor Statement
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2010 and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events.
Forward Looking Statement
Certain information presented, including discussions of future plans and operations, contains forward-looking statements involving substantial known and unknown risks and uncertainties. These forward-looking statements are subject to risk and uncertainty, many of which are beyond control of company management. These may include, but are not limited to the influence of general economic conditions, industry conditions, fluctuations of commodity prices and foreign exchange rate conditions, prices, rates, environmental risk, industry competition, availability of qualified staff and management, stock market volatility, timely and cost effective | |
