$2 Million Exploration Program Approved for Bathurst Option Joint Venture Project, New Brunswick
September 10 2013 - 9:37AM
OTC Markets
- $2 Million exploration program approved for the Bathurst Option
Joint Venture Zinc-Lead-Copper-Silver project (BOJV), New
Brunswick
- Program focus to be drill testing of priority DIAGNOS
exploration targets
- DIAGNOS delivered 160 targets to Votorantim Canada, operator of
the BOJV, of which 13 are ranked as priority targets
- Field work on the priority targets is underway, to be followed
by ground geophysical and geochemical surveys to optimize drill
set-ups
- Pending outcomes and results, drill testing to commence in late
summer or early fall
September 10, 2013,
Vancouver, BC; El Nino Ventures Inc. ("ELN" and the "Company")
(TSX.V: ELN; OTCQX: ELNOF Frankfurt: E7Q) is pleased to provide an
update on the exploration program planned in 2013 for the Bathurst
Option Joint Venture Project (BOJV) with Votorantim Metals Canada
Inc. (VMC) and Glencore (formely Xstrata Zinc Canada). The area of
the BOJV covers much of the world-class Bathurst Mining Camp in
north-central New Brunswick.
2013 Exploration Program
The BOJV management committee has approved a $2 million exploration
program for the BOJV as proposed by VMC, who is the project
operator.
The exploration program is focused on testing the exploration
targets generated by DIAGNOS and validated by VMC. DIAGNOS was
retained by VMC in September 2013 to use their proprietary Computer
Aided Resources Detection System (CARDS) to identify target areas
with a high statistical probability of being associated with base
metal mineralization. DIAGNOS delivered 160 targets to VMC in March
2013.
Field checking of the DIAGNOS target areas is currently underway.
The target areas are distributed throughout the Bathurst Mining
Camp. The next steps in follow-up could be direct drilling of the
targets or ground geophysical and geochemical surveys carried out
to optimize drill set-ups. Pending outcomes and field work results,
drill testing is slated to commence in late summer.
?
Qualified Persons Statement
This news release has been reviewed and approved for technical
content by William Stone, Ph.D., P.Geo. who is a Qualified Person
under the provisions of National Instrument 43?101.
Bathurst Option Joint Venture Project
The BOJV project is a Tri?Party Agreement with Xstrata Zinc Canada
(now Glencore) and VMC covering much of the area of the Bathurst
Mining Camp in northeastern New Brunswick (Figure 1). The project
commenced in July 2009. VMC can earn 50% by spending $10 million
over 5 years. VMC can further increase its interest to 70% by
spending an additional $10 million over 2 more years. Exploration
expenditures to date by VMC total about $6.7 million.
BOJV project originally consisted of 4712 claims owned 50% ELN and
50% Xstrata Zinc and 2907 claims owned 100% by Glencore, together
with an Area of Interest in which ELN and Glencore 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.
Figure 1. Historical Land
tenure map showing the location of properties, projects and mines
in the Bathurst Mining Camp circa 2009
Votorantim Metals Canada Inc. Statement
Technical details in this news release were provided by VMC whose
professional geologists conduct operations consistent with mineral
industry best practices. VMC accepts no responsibility for this
news release or any inferences made from the technical details
provided herein.
About Votorantim Metals Canada Inc.
VMC is a subsidiary of Votorantim Metais a company that is part of
the Votorantim Group that 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. VMC is operator of the
Bathurst Option and Joint Venture which is actively exploring for
base metal deposits within the Bathurst Mining Camp.
About El Nino Ventures Inc.
El Ni?o Ventures Inc. is an international exploration company,
focused on exploring for lead, zinc, copper, silver and gold in New
Brunswick, Canada and copper in the Democratic Republic of Congo
("DRC").
On Behalf of the Board of Directors
"Harry Barr"
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
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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. Note: This
release contains forward-looking statements that involve risks and
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