Mink Ventures Corporation (TSXV: MINK) has completed the 80% earn in, on its 40km2 Montcalm nickel copper cobalt project. The final assessment credit transfers occurred in late March and Mink’s 80% interest in the 196 claims is now recorded on title through MLAS.
The project surrounds Glencore’s former Montcalm Mine located approximately 65km northwest of Timmins, Ontario. The company also reports the successful completion of a second phase of surface geophysical surveys in the SW Target Area which detected multiple, new induced polarization (IP) anomalies. Some of the higher priority IP anomalies are associated with strong magnetic “bullseye” anomalies and/or historical untested electromagnetic anomalies. Numerous surface and 3D borehole IP targets remain to be drill tested across the fully permitted nickel copper cobalt project.
Natasha Dixon, president and CEO, commented, “I commend our exploration team, and our technical suppliers and contractors, who have worked very hard within tight timelines, to safely, complete the exploration work programmes required by Mink to earn its 80% interest, now registered on title, and ensure the claims remain in good standing with significant banked assessment. Within 14 months, the company completed two drill programmes along with significant downhole 3D IP and surface IP geophysical surveys which generated numerous new targets over a sizeable property; they interpreted the data, wrote and filed the reports to meet the assessment timelines; and secured non-dilutive OJEP funding which covered about 14% of the expenditures.”
Mink is well positioned next to the Montcalm Mine with historical production of approximately 3.93Mt of ore grading 1.25% Ni, 0.67% Cu, and 0.051% Co (Ontario Geological Survey, Atkinson, 2010). The mine ceased production in June 2009 and the last estimated reserve as of January of 2009 was 2,800,000t grading 1.26% Ni, 0.59% Cu, and 0.05% Co. (Ontario Mineral Inventory Record MD142B09NE00007). Mink’s proximity to the former mine with extensions of the mine lithology on Mink’s exploration lands and numerous untested targets demonstrates the potential for new discoveries.
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