Mink Ventures Corporation (TSXV: MINK) has issued 250,000 common shares of the company and 250,000 warrants to purchase Mink common shares in order to commence its option of the Warren Copper-Nickel Project.
The Warren Project consists of 14 patented mining claims covering 251ha of land, located in Whitesides Township, approximately 35km west of Timmins, Ontario.
To commence the option, MINK has issued to US Copper Corp. 250,000 common shares and 250,000 MINK three-year common share purchase warrants exercisable at a price of C$0.25.
To maintain and ultimately exercise the option MINK must incur C$300,000 in exploration expenditures and issue an additional 750,000 MINK common shares within 21 months.
The Warren Project is drill ready. Mink’s geologists have completed an in-depth study of all available historical data and recent geophysical survey data. Some limited ground truthing to update GIS data prior to selecting drill targets will occur with a diamond drill programme to follow. The project complements Mink’s key Montcalm project due to the distinctly similar, prospective geological environments as well as the presence of significant Cu Ni zones at Warren.
The company has identified three distinct mineralized copper nickel zones and are designated Zones A, B, and C, outlined by both surface exploration and diamond drilling, focused mainly on Zones A and B over a strike length of ~600m.
“This strategic acquisition expands our exploration portfolio and discovery opportunity with a very complementary, second gabbro-hosted copper nickel sulphide project which shares a similar geological environment with our flagship Montcalm project. Both projects benefit from very cost-effective exploration due to their exceptional access, year-round exploration seasons, and proximity to the Timmins Mining Camp and all the advantages that come along with that.” said Natasha Dixon, president and CEO.
To find out more, please visit www.minkventures.com
