Mink Ventures Corporation (TSXV: MINK) has completed analysis of core from a recent, single drill hole, to test a strong induced polarization (IP) anomaly designated SW IP Anomaly 1, associated with a large magnetic high in the SW Target Area (STA) of its Montcalm Ni, Cu, Co project.
The drill hole intersected a disseminated sulphide zone over approximately 19m consisting of disseminated pyrite, minor pyrrhotite with the occasional speck of chalcopyrite, however, no significant base metal or precious metal values were returned. The cause of the SW IP Anomaly 1 was barren, disseminated sulphide mineralization which explained the anomaly. This sulphide zone was not detected by previous airborne EM systems due to its disseminated nature and thus lack of conductivity. This lends credence to the approach by Mink that both 3D borehole IP and surface IP are good tools to detect potential new zones of mineralization that have not been found by previous operators.
Ongoing target development work (ground IP surveying) is currently under way in the eastern portion of the STA. Numerous borehole IP and ground IP targets on the Montcalm Project remain untested and it is anticipated that further targets will be developed from this ongoing IP programme. These will be prioritized for future drill testing.
Once this IP programme is complete, Mink will have expended the C$600,000 work commitment portion of the earn in agreement. Upon issuance, in late December 2023, of the second payment of cash (C$25,000), the second share issuance (800,000 Mink shares) and transfer of assessment credits, the Company will have secured its 80% interest in the highly prospective Montcalm Project and the project will remain in good standing for several years with banked assessment.
Natasha Dixon president and CEO commented “Mink is using advanced geophysics on the overburden covered Montcalm project which can penetrate deeper than previous systems and are capable of outlining both disseminated and massive sulphides. There is less than 1% outcrop to chase, so this technology is one of the primary means to identify targets that were missed by previous operators with less powerful airborne systems. Drill testing these newly identified targets is the only way to determine if the mineralization is carrying nickel, copper, cobalt sulphides. With our ongoing IP work and existing drill ready targets, there remains significant opportunity for new discoveries to be made across the underexplored 40 km2 project.”
Following the program at Montcalm, the technical team will begin preparations to commence drilling on the A Zone at its Warren project in early January. The A Zone has a surface strike length of approximately 120m exposed in a series of surface trenches. Confirmation work by company geologists on the A Zone, as well as other target zones, returned significant base metal numbers in grab samples. Excellent copper values were noted in the A Zone trenches which ranged from 1.075% to 2.08% Cu. Nickel values of interest from the A Zone ranged from 0.313% to 0.348% Ni. Cobalt values ranged from 0.0389% to 0.0498% Co. Some interesting silver values, which ranged from 10.3 ppm to 23.8 ppm silver, were associated with some of the better Cu values on the A Zone.
Both the Montcalm and Warren projects are located northwest of Timmins, Ontario, approximately 35km apart, along the Montcalm Mine Road. The Montcalm Project surrounds Glencore’s former Montcalm Mine which had historical production of approximately 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu, and 0.051% Co. (Ontario Geological Survey, Atkinson, 2010).
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