Mink Ventures Corporation (TSXV: MINK) has entered into an agreement to acquire a 100% interest, subject to a 1.5% NSR, in the Warren copper nickel project from US Copper Corp.
The Warren Project consists of 14 patented mining claims covering 251 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario
Mink expects that the option will commence at closing, on or around July 4, 2023.
Highlights
- 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 Warren 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.
- Three distinct mineralized copper nickel zones have been identified 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.
- Historical work in the mid 1950’s included two B-Zone bulk samples by Maralgo Mines Ltd. Bulk Sample 1 returned 0.21% Cu, 0.96% Ni, 0.11% Co and 0.10% Zn, and Bulk Sample 2 returned 2.83% Cu, 0.58% Ni, 0.10 Co and 0.13 Zn.
- A resource calculation of 385,000 tons of 1% Cu + Ni on the B Zone was outlined by Jade Oil & Gas. They drilled 23 holes to test Zones A and B in the mid 1950’s. Highlights include 2.5% Cu+Ni over 7.6m and 2.8% Cu+Ni over 8.2m.
- Geophysical data from magnetics, horizontal loop EM (HLEM) and induced polarization (IP) suggest a potential strike length of A and B Zones of approximately 800m.
- Limited exploration has been conducted on the C Zone other than a historical shaft. A recent (2021) grab sample in the shaft area muck pile returned 3.7ppm Ag, 3940ppm Cu, 1670ppm Ni and 223ppm Co. Geophysical surveys (magnetic, HLEM, and IP) support a potential strike length of C Zone of one k,
“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 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,” President and CEO, Natasha Dixon, said.
“Mink is a battery metals exploration company. There is no energy transition without these critical minerals. Exploration companies play a vital role in discovering the mineral deposits needed to establish a resilient Canadian source of these metals and MINK is well positioned to play a role with these very prospective assets,” she added.
For further information please visit: https://minkventures.com/
