Vancouver, British Columbia - September 19, 2013. Nortec
Minerals Corp. ("Nortec") announces that Finore Mining
Inc., ("Finore") has filed an independent Technical Report
("Technical Report") on Sedar detailing the results on the updated
resources and potential on the Lantinen-Koillismma Project (the "LK
Project").
Nortec is the majority shareholder of Finore controlling 60% of
the issued and outstanding shares. Finore has an option to earn
100% of the Project through the acquisition of Nortec Minerals Oy
("NorMinOy"), a wholly-owned subsidiary of Nortec.
The Technical Report, entitled "A Technical Report on the
Lantinen Koillismaa Project, Finland For Finore Mining Inc.", was
prepared by Mining Plus Canada Consulting Ltd. ("MP Consulting"),
an accredited international mining consulting corporation. The
report complies with the NI 43-101 guidelines. Further details are
provided at the end of the press release.
Summary of Mineral Resource Estimates for
LK Project at a cut-off grade of O.1 g/t Palladium*
Kaukua Deposit (Main Zone)
-------------------------------------------------------
|Category |Tonnage Mt|Pd g/t|Pt g/t|Au g/t|Cu %|Ni** %|
| | | | | | | |
|-----------------------------------------------------|
|Indicated|10.4 |0.73 |0.26 |0.08 |0.15|0.1 |
|-----------------------------------------------------|
|Inferred |13.2 |0.63 |0.22 |0.06 |0.13|0.1 |
-------------------------------------------------------
Haukiaho Deposit (Melarame, Torkoaho and West
Torkoaho zones)
------------------------------------------------------
|Category|Tonnage Mt|Pd g/t|Pt g/t|Au g/t|Cu %|Ni** %|
| | | | | | | |
|----------------------------------------------------|
|Inferred|23.2 |0.31 |0.12 |0.10 |0.21|0.14 |
------------------------------------------------------
* A sharp boundary Pd assay at a cut-off of 0.1 g/t was
interpreted as the waste contact. The high correlation for Pt and
Pd means that both metals can be used for defining the geometry of
mineralization for the Kaukua and Haukiaho deposits. The grade is
continuous along the strike of both deposits. At higher cut-off
grades of 0.2 g/t Pd for Haukiaho and 0.3 g/t Pd for Kaukua the
total resource estimates do not change significantly.
**Ni is the total Nickel content.
The recent mineral resource estimates place the LK Project as
the second largest undeveloped PGE+Gold deposit in Finland," said
Peter Tegart, Director of Nortec and President & CEO of Finore
Mining Inc. "In addition, considerable upside potential remains to
these deposits, with opportunities to expand both deposits along
strike and depth. There is also excellent potential to discover
entirely new deposits within the Koillismaa-Narankavaara intrusive
complex which has only been investigated for a small portion of the
strike length as exposed on surface. I feel confident that we will
achieve our objective to efficiently define large, economically
viable Palladium-Platinum-Gold-Copper-Nickel near-surface resource
bodies through our implementation of (a) increasing the confidence
level of the known mineral resources, (b) expanding the known
deposits and (c) testing for potential new deposits."
The LK Project consists of 40 claims and 5 pending claims
totaling 3,787 hectares and covers three distinct ultramafic blocks
within the Koillismaa-Narankavaara intrusive complex. The LK
Project is located in north central Finland approximately 60 km
north of the company's exploration office in the village of
Taivalkoski. It is 130 km ESE of the town of Rovaniemi and 160 km
NE of the port town of Ouluand, is accessable by major paved roads
with local access on gravel or dirt roads.
There are four target areas on the LK Project, Haukiaho, Kaukua,
Murtolampi and Lipeavaara. Over 33,000 metres of drilling was
carried out by Nortec and Finore on Haukiaho and Kaukua with
historical drilling by Geological Survey of Finland ("GTK") on the
Mutolampi and Lipeavaara zones.
The Haukiaho Target consists of three mineralized fault
separated blocks: West Torkoaho (West) Zone, Torkoaho (Central)
Zone and Melarame (East) Zone. The Torkoaho Zone appears to thicken
and flatten to the east with only three drill holes Hau11-10,
Hau11-18 and the GTK drill hole R386 drilled over a strike distance
of 400 metres. As reported in the Company's and Nortec's press
releases dated September 11, 2012, the results from the three drill
holes are listed below. The intersections are core lengths only and
true thicknesses are not calculated.
Hole Hau11-010: 25.0 metres @ 0.72g/t PGE+Au; 0.23% Cu; 0.18% Ni
from 66 metres
Hole R-386: 46.65 metres @ 0.88g/t PGE+Au; 0.30% Cu; 0.20% Ni
from 36.05 metres
Hole Hau12-018: 26.0 metres @ 1.01g/t PGE+Au; 0.33% Cu; 0.26% Ni
from 104 metres
and 31.6 metres @ 1.04g/t PGE+Au; 0.34% Cu; 0.22% Ni from 134
metres
As recommended in the MP Consulting Report a systematic drilling
program is planned along strike and dip from these holes over a
length of 500 metres. The objective of this drilling is to improve
the confidence level of this inferred resource to an indicated
category.
It is also planned to infill drill the West Torkoaho Zone to
generate an indicated resource from an inferred resource now
estimated in the MP Consulting Report. As reported in the Company's
and Nortec's press releases dated September 11, 2012, the West
Torkoaho Zone was identified by only two holes drilled on the
western margins of the Torkoaho Zone where Hau11-16 returned 30
metres grading 1.04g/t PGE+Au, 0.30% Cu and 0.20% Ni including 16.3
metres of 1.45g/t PGE+Au, 0.42% Cu and 0.28% Ni. These
intersections are also core lengths only and more drilling is
required to calculate the true thicknesses. The West Torkoaho Zone
is open along strike to the west for over 500 metres. From the
drilling done to date, both Zones have the potential for higher
grades than what was identified thus far in the Melarame Zone.
In the Kaukua East Zone several intersections returned
significant results not included in the resource estimation by MP
Consulting and a systematic drilling campaign is recommended to
bring the Kaukua East Zone to resource level.
MP Consulting, in consultation with Finore, recommends
implementing a two phase program to increase the size and
definition of the Haukiaho and Kaukua zones. The budget for this
phase of the project is estimated to be about C$1,733,000. MP
Consulting, Nortec and Finore believe that additional mineral
resources will likely be found in these zones in addition to better
defining the Zones to an indicated category. A second phase of work
is recommended to explore along the strike extent of the
Kollismaa-Narankavaara ultrabasic intrusive complexes and defined
by geophysical surveys and owned by NorMinOy. This includes known
zones within the Lipeavaara and Murtolampi zones, where preliminary
drilling was carried out by GTK that is estimated to cost about
C$540,000.
Nortec and Finore's experience in Finland has been positive with
both the laws of the country and our interaction with the
professionals working for NorMinOy. Finland was ranked 1st in the
world on the Policy Potential Index of the Fraser Institute's
2012-2013 survey (PDAC International Convention 2013). The country
was also recently ranked as the best place in the world for mining
investments according to Resource Stocks Magazine's 2012 World Risk
Survey. According to the GTK website, a total of 50 mines and
quarries were operating in 2012.
Peter F. Tegart, Director of Nortec and President and CEO of
Finore and Mohan R. Vulimiri, M.Sc., P.Geo., Chairman and CEO of
Nortec and Director of Finore are the persons responsible for
initiating and guiding the work programs on the LK Project and
Mohan Vulimiri is the Qualified Person responsible for the contents
of this press release.
About Nortec Minerals Corp
Nortec is a mineral exploration and development company based in
Vancouver, British Columbia. Nortec is the majority shareholder of
Finore controlling 60% of the issued and outstanding shares. The
Company has a 100% interest in the Tammela Gold & Lithium
Project in South-West Finland; an option to earn from Akkerman
Exploration B.V., a 100% interest in the Seinajoki Gold Property
and Kaatiala Beryllium-Rare Earth Property in Western Finland. The
Company recently sold its 51% interest, subject to net smelter
royalties, in the TL Nickel-Copper-Cobalt Property in Northern
Labrador, Canada to Vulcan Minerals Inc.; Information on the
Company's projects can be referred to on
http://www.nortecminerals.com/.
On behalf of the Board of Directors,
NORTEC MINERALS CORP.
"Mohan R. Vulimiri"
Mohan R. Vulimiri, CEO and Chairman
The TSX Venture Exchange has not reviewed and does not
accept the responsibility for the adequacy or accuracy of this news
release.
This press release contains certain forward looking
statements which involve known and unknown risks, delays and
uncertainties not under the Company\'s control which may cause
actual results, performances or achievements of the Company to be
materially different from the results, performances or expectations
implied by these forward looking statements. This news release does
not constitute an offer to sell or a solicitation of an offer to
buy any of the securities in the United States.
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