Mink Ventures Corporation (TSXV: MINK) has acquired a 100% interest in six mining claims located adjacent to its Warren North claim boundary from STLLR Gold Inc. (TSX: STLR) referred to as the “Warren Northeast” or “WNE” claims. Total consideration made for the six claims is a 2% net smelter return royalty on those six claims, granted in favour of STLLR Gold Inc., with Mink retaining the right to a buy-back of 1% NSR for C$1,000,000. The combined Warren property now covers 1,130ha of land in Whitesides Township, approximately 35km west of Timmins, Ontario.
The Warren Northeast (WNE) claims represent a non-dilutive, strategic addition to Mink’s Warren Property holdings.
The WNE claims host two significant copper (Cu) zones within historical drill hole ML9601. The upper zone (M1) returned 0.174% Cu over 13m, including an intercept of 0.36% Cu over 3.05m. The lower zone (M2) returned 0.84% Cu over 4.3m including higher-grade intercepts of 1.20% Cu over 2.4m and 3.62% Cu over 0.5m. Some minor gold values up to 0.25g/t Au over short intervals were noted with better copper values in the M2 Zone. *
A strong, horizontal loop electromagnetic (HLEM) conductor and coincident pulse EM conductor associated with the M1 and M2 zones is untested for 200m along strike to the south of the M1 and M2 intercepts in hole ML9601. No significant drilling to depth has been carried out, the zones have only been evaluated to approximately 120m vertical and there has been no down hole geophysics conducted. In addition, there are several other EM anomalies present on the WNE claims that are untested. *
The mineralization on WNE claims represents a new geological environment for base metal mineralization on Mink’s Warren Project. Historical drill logs suggest that mineralized intervals comprised of semi massive sulphides and stringer sulphide zones are hosted within an intercalated package of altered felsic and mafic volcanics indicative of a new volcanogenic massive sulphide (VMS) environment. The Timmins Mining Camp hosts several significant VMS deposits including Glencore’s Kidd Mine.
The company intends to file exploration permit applications for down hole geophysical surveying as well as for a series of diamond drill holes.
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