-Drilling currently underway with one rig in the
Bathurst Mining Camp
-Prospective DIAGNOS CARDS,
geophysical and stratigraphic targets continue to be drill
tested
February 25, 2014, Vancouver, BC;
El Nino Ventures Inc. ("ELN" and the
"Company") (TSX.V: ELN; OTC Pink: ELNOF; Frankfurt: E7Q)
is pleased to provide an update on the exploration
program for the Bathurst Option Joint Venture Project (BOJV) with
Votorantim Metals Canada Inc. and Glencore Canada Corporation
(formerly Xstrata Canada Corporation). The BOJV area of interest
covers much of the world-class Bathurst Mining Camp in
north-central New Brunswick (Figure 1). Votorantim
Metals Canada Inc. is Project Operator.
2013 Exploration
Program Results
During 2013, fifteen
holes were drilled for a total of 4780.7 metres at a cost of
roughly $1.5 million. The holes were drilled to test prospective
DIAGNOS CARDS, airborne and ground geophysical and stratigraphic
targets in the BOJV Project area (Figure 2). The drill
targets are distributed throughout the Bathurst Mining
Camp.
Significant results
were obtained from two diamond drill holes, MB-13-01 and SA-13-21,
both of which intersected mineralization of interest. MB-13-01 was
drilled to test a ground gravity target just to the west of the
Murray Brook polymetallic massive sulphide property, in the
northwest corner of the BOJV. The hole intersected 248 metres of
weak mineralization consisting of pyrrhotite + pyrite ?
chalcopyrite from 230 metres to end of hole at 578 metres, entirely
in sedimentary rocks. As a result, the hole was extended from 578
metres to 821 metres. It remained in sedimentary rocks and commonly
carried 5-10% disseminated pyrrhotite. The best assayed interval
was 13 metres grading 0.18% Zn, 0.08% Pb, 0.10% Cu and 1.74 g/t Ag
from 428 metres down hole (Table 1). The hole was
down-hole surveyed with an electromagnetic probe for off-hole
conductors. The results indicated a couple of deeper responses
which might reflect weak stringer mineralization. No off-hole
response was received that could be interpreted as massive
sulphide.
The other hole of
interest, SA-13-21, was drilled to test a CARDs/geophysical target
at Sevogle Airstrip in the south central part of the BOJV. The hole
intersected felsic volcanics from 45 metres to 300 metres down
hole, with several short intervals of quartz + chalcopyrite +
sphalerite + galena mineralization between 60 metres and 300 metres
down hole. The best assay result is 0.5 metres grading 2.9% Zn,
2.4% Pb and 0.04% Cu from 60 metres down hole (Table 1).
Table 1:
Assay results for 2013 BOJV Project Drill
Program.
Click Image To View Full Size
Note: no significant assay results
for the other 13 holes drilled in the 2013 program.
2014 Exploration
Program Plans
After a holiday
hiatus, drilling resumed on the BOJV with a single rig in January.
The program planned is for up to thirteen holes to be drilled for a
total of 3000 metres at a cost of approximately $350,000. Two holes
are to be drilled at Sevogle Airstrip, and six holes in the area
between the Murray Brook and Restigouche massive sulphide deposits
and the remaining four or five holes to be drilled elsewhere. The
drill program will be in two phases: a winter program to end in the
second half of February where drill holes are close to existing
infrastructure and the remainder in the spring. Subject to outcomes
and results, the next steps in follow-up exploration could be
continued direct drilling of targets, and ground and borehole
geophysical surveys performed to optimize drill set-ups. The five
year option earn-in period for Votorantim Metals Canada Inc.
currently ends in July 2014.
Figure
1. (Below) Land tenure map showing the
location of properties in the Bathurst Option Joint Venture Project
as of February 21, 2014. The BOJV
includes 920 units in 26 claims totalling 20,019
hectares. The amount changes as some claims are dropped and others staked. El Nino
maintains a 50% interest in another 1,177 units in 8 claims
totalling 25,612 hectares.
Click Image To View Full Size
Figure 2.
(Below) Collar locations for diamond drill holes
drilled on the BOJV Project area in 2013 and 2014. Note the
location of MB-13-1 in the northwest corner or the area, which is
in the Mt. Fowler area near the Murray Brook Project, and SA-13-21
in the south central part of the area.
Click Image To View Full Size
Qualified Persons
Statement
This news release has
been reviewed and approved for technical content by William Stone,
Ph.D., P.Geo. and a Qualified Person under the provisions of
National Instrument 43-101.
About El Nino
Ventures Inc. Bathurst Projects
El Nino Ventures Inc.
has two active projects in the Bathurst Mining Camp: 1) the
Bathurst Option Joint Venture (see below) and 2) Murray Brook (see
company website);
About Bathurst
Option Joint Venture Project
The BOJV Project is a
Tri-Party Agreement with Xstrata Canada Corporation (now Glencore
Canada Corporation) and Votorantim Metals Canada Inc. covering much
of the area of the Bathurst Mining Camp in northeastern New
Brunswick (Figure 1). The project commenced in July 2009.
Votorantim Metals Canada Inc. can earn 50% by spending $10 million
over 5 years and can further increase its interest to 70% by
spending an additional $10 million over 2 more years. Exploration
expenditures to date by Votorantim Metals Canada Inc. total about
$6.8 million.
BOJV project originally consisted of
4712 claims owned 50% ELN and 50% Glencore Canada Corporation and
2907 claims owned 100% by Glencore Canada Corporation, together
with an Area of Interest in which ELN and Glencore Canada
Corporation hold equal interest. Due to the Area of Interest, the
BOJV generates new projects for ELN at no initial cost. An example
of such project generation for ELN is the Murray Brook Project.
Votorantim Metals
Canada Inc. Statement
Technical details in
this news release were provided by Votorantim Metals Canada Inc.
whose professional geologists conduct operations consistent with
mineral industry best practices. Votorantim Metals Canada Inc.
accepts no responsibility for this news release or any inferences
made from the technical details provided herein.
About Votorantim
Metals Canada Inc.
Votorantim Metals
Canada Inc. is a subsidiary of Votorantim Metais, a company that is
part of the Votorantim Group and was founded in Brazil in 1918. The
Votorantim Group operates in twenty countries and has over 40,000
employees. Votorantim Metais is the largest electrolytic nickel
producer in Latin America and one of the world's leaders in the
production of zinc, aluminum and nickel. Votorantim Metals Canada
Inc. is operator of the Bathurst Option and Joint Venture, which,
in conjunction with Glencore Canada Corporation and El Nino
Ventures, is actively exploring for base metal deposits within the
Bathurst Mining Camp.
About El Nino
Ventures Inc.
El Nino Ventures Inc. is an
international exploration company, focused on exploring for zinc,
copper, lead, and silver in New Brunswick, Canada and copper in the
Democratic Republic of Congo ("DRC").
On Behalf of the Board of
Directors,
Harry Barr
Chairman &
CEO
El
Nino Ventures Inc.
Further Information: Tel: +1
604 685 1870 Fax: +1 604 685 8045
Email: info@elninoventures.com or visit www.elninoventures.com
650-555 West 12th Avenue, City Square, West Tower, Vancouver, B.C.,
Canada, V5Z 3X7
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",
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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
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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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