El Nino Ventures retains Renmark Financial Communications
September 26 2012 - 8:30AM
PR Newswire (Canada)
VANCOUVER, Sept. 26, 2012 /CNW/ - El Niño Ventures Inc. ("ELN" and
the "Company") (OTCQX: ELNOF) is pleased to announce that it is
retaining the services of Renmark Financial Communications Inc. to
enhance and increase its existing investor relations activities.
Renmark will focus on increasing visibility of El Nino Ventures in
the retail investment community. "We are pleased to announce that
we have selected Renmark to reinforce El Niño Ventures Inc.'s
profile in the financial community and enhance the visibility of
our project portfolio. We choose Renmark because its standards and
methodologies fit best with the message we wish to communicate to
the investing public," noted Harry Barr, Chairman and CEO of El
Niño Ventures Inc. In consideration of the services to be provided,
El Niño Ventures Inc. has agreed to a monthly agreement with a
monthly retainer of $7,000 with a 3-month out clause to Renmark
Financial Communications Inc. Renmark Financial Communications Inc.
does not have any interest, directly or indirectly, in El Niño
Ventures Inc. or its securities, or any right or intent to acquire
such an interest. About El Niño Ventures Inc. El Niño Ventures Inc.
is an international exploration and development company, focused on
exploring for zinc, copper, silver, gold and lead in New Brunswick,
Canada and copper/cobalt in the Democratic Republic of Congo
("DRC"). About El Niño Ventures Inc. Bathurst Projects El Niño
Ventures Inc. has two active projects in the Bathurst Mining Camp,
New Brunswick; 1. Bathurst Mining Camp Project - Bathurst Option
Joint Venture (BOJV) Consists of an initial 4,712 claims in the
tri-party agreement with Xstrata Zinc Canada & Votorantim
Metals Canada ("VM Canada"), (wholly owned subsidiary of Votorantim
Metais, the 2(nd) largest mining company in Brazil) 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. The 2012 exploration program, funded entirely by
Votorantim, consists of approx. 12,000 metres of drilling on select
targets. The program also included airborne and ground geophysics.
The BOJV agreement has an area of interest clause that provides for
the ability for VM Canada, Xstrata Zinc and ELN to elect to
participate in any new acquisitions within the area of interest. In
September 2012 VM Canada, as the operator of the BOJV
agreement, contracted Diagnos Inc. of Brossard, Quebec to complete
a comprehensive study utilizing their proprietary software that
will identify areas (within the area of interest) with high
statistical probability of containing mineralization. 2. Murray
Brook Polymetallic Project - Bathurst, N.B. The Murray Brook
acquisition for ELN was a direct result of the Area of Interest
clause in the BOJV agreement, as outlined previously. Murray Brook
is a polymetallic, massive sulphide deposit, and is currently under
evaluation for the development potential of an open pit mine.
Historically, the deposit was the fifth largest in the Bathurst
Mining Camp and is under option to VM and ELN from Murray Brook
Minerals (MBM) and Murray Brook Resources (MBR). The Murray Brook
project is located 60 km west of Bathurst. It is supported by
excellent infrastructure, including paved roads, grid electricity
and communities to provide goods, services and skilled labour
(Figure 1). To date, more than 28,000 metres of drilling has
been completed with encouraging results. In February 2012, an NI
43-101 resource estimation was announced (see news release. The
technical report is filed on SEDAR.com and also available on ELN's
website. An updated NI 43-101 is slated for release by the end of
2012 and will include the results of the 18,500 metre drill
program. Plans are to complete a Preliminary Economic Assessment
(PEA) by the end of the first quarter of 2013. Although the terms
of the agreement with VM Canada, ELN, MBM and MBR provided for a
three-year period to earn the initial 50% and two years to earn the
additional 20%, VMC and ELN completed their 70% earn-in in less
than 18 months. Encouraging drill results and a very positive NI
43-101 resource estimation accelerated the exploration and
development programs and is a testament to both ELN and
Votorantim's commitment to aggressively advancing the project (see
ELN press releases dated: May 17, June 5, June 27, July 17, July
30, August 14 and August 28, 2012). Under a purchase agreement
signed by VMC on August 28, 2012 with MBM and MBR., VM Canada
acquired the right to purchase the additional 30% of the Murray
Brook Project. ELN has been provided the option to earn an
additional 15% in the project for a combined total of 50% (35%
+15%). The company is currently completing the 2012 $3 million
exploration program that will include: -- $2.5 million exploration
a the Murray Brook deposit, 97 holes drilled for a total of 18,500
metres -- $500,000 exploration at the adjacent Camel Back property
-- Updated resource calculation and initial metallurgical study
Metallurgical test-work of bulk sample material from the Murray
Brook deposit is currently underway at RPC Laboratories
(Fredericton, New Brunswick). Under the direction of Votorantim
Metals Canada Inc., operators of the Murray Brook Project, three
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 flowsheet
which, subsequently, will form the basis for a small scale
metallurgical pilot plant program. Metallurgical results, along
with a revised resource estimate will incorporate 2012 drill
results, and will form the basis of a Preliminary Economic
Assessment study to be completed in Q1 2013. Phase 2 of
Metallurgical studies (Pilot Plant), Preliminary Economic
Assessment Studies, Geotechnical drilling, detailed delineation of
base of oxidation and Environmental assessment studies are slated
for 2013. Subject to continued positive results, the companies plan
to complete a pre-feasibility study and a feasibility study by
2015. Figure 1- Land tenure map showing the location of optioned
properties in the Bathurst Mining Camp
http://www.elninoventures.com/s/NewsReleases.asp?ReportID=549595 3.
Kasala Copper-Cobalt Project - DRC The Kasala Copper/Cobalt project
is located in the Democratic Republic of Congo's Central African
Copper Belt, approximately 16 miles from Minmetals Mining
Resources' Kinsevere Mine (formerly owned by Anvil Mining). Anvil
Mining was recently purchased by Minmetals Mining Resources for
$1.3 billion. Drilling has intercepted of up to 23 metres grading
3.28% Cu on the Kasala project. The project is currently under
Force Majeure pending outcome of arbitration in British Columbia
and litigation in the DRC. On Behalf of the Board of Directors
(signed) Harry Barr Chairman & CEO El Niño
Ventures Inc. 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. Cautionary Note Regarding Forward Looking
Statements: 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. El Nino Ventures Inc. CONTACT: Tel: +1
604 685 1870 Fax: +1 604 685 8045Email: info@elninoventures.com or
visit www.elninoventures.com650-555 West 12th Avenue, City Square,
West Tower, Vancouver,B.C., Canada, V5Z 3X7Renmark Financial
Communications Inc.Robert Thaemlitz:
rthaemlitz@renmarkfinancial.comJohn Boidman:
jboidman@renmarkfinancial.comTel.: (514) 939-3989 or (416)
644-2020www.renmarkfinancial.com
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