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Re: News Releases - Tuesday, August 28, 2012
El Nino Ventures Inc.
announces a 122 metre thick mineralized
interval of massive sulfide mineralization assaying 6.15% Zinc,
0.10% Copper, 1.92% Lead, 0.64 gpt Gold and 70.6 gpt Silver at
the Murray Brook Deposit, New Brunswick
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Drilling Highlights:
- 6.15% zinc, 0.1% copper, 1.92% lead, 0.64 gpt gold and 70.6 gpt
silver over 112 metres in drill hole MB-2012-132
- Including 10.50% zinc, 0.10% copper, 3.60% lead, 1.37 gpt gold
and 126.7 gpt silver over 33 metres
- 2.73% zinc, 0.60% copper, 0.64% lead, 0.25 gpt gold and 36.7 gpt
silver over 27.0 metres in drill hole MB-2012-140
- Including 4.90% zinc, 1.10% lead, 0.18 gpt gold and 50.5 gpt
silver over 10 metres
- The continuity of mineralization along strike and at depth suggests
potential to extend the currently defined mineralized zone.
August 28, 2012, Vancouver, Canada; El Nino Ventures Inc.
("ELN" and
the "Company") (TSX.V: ELN; OTCQX: ELNOF Frankfurt: E7Q) is pleased to
announce high-grade assay results for an additional nine holes from the
most recent round of drilling at the Murray Brook polymetallic massive
sulfide deposit, Bathurst Mining Camp, New Brunswick.
The 2012 drill
program consisted of ninety seven vertical holes for a total of 18,470
metres.
MB-2012-132 was drilled to infill gaps in the previous drilling and
test continuity in the central sections of the Western Mineralized
Zone, which is thicker and more Zn-Pb-Ag rich than the Eastern Massive
Sulfide Zone (Figures 1-2).
Hole MB-2012-132 intersected 112 metres of
6.15% zinc, 0.1% copper, 1.92% lead, 0.64 gpt gold and 70.6 gpt silver
from 89 metres down hole, including 33.0 metres of 10.50% zinc, 0.11%
copper, 3.60% lead, 1.37 gpt gold and 126.7 gpt silver from 167 metres
down hole (Table 1).
Drill holes MB-2012-133, 135, 137, 139 and 140 were drilled to better
delineate the southwest boundary of the Western Zone (Figure 2).
Drill
hole MB-2012-139 intersected 26.0 metres of 2.06% zinc, 0.47% copper,
0.36% lead, 0.28 gpt gold and 21.4 gpt silver from 88 metres down hole
(Table 1).
Drill hole MB-2012-140 intersected 27 metres of 2.73% zinc,
0.60% copper, 0.64% lead, 0.25 gpt gold and 36.7 gpt silver from 64.6
metres down hole (Table 1).
The five drill holes extend the near-surface mineralization in the
Western Zone down-dip by approximately 50 metres.
This area was not
drilled previously and is outside the 2012 NI 43-101 compliant resource
estimation (Figure 3).
Drill holes MB-2012-131 and MB-2012-134 and MB-2012-136 were collared
in the Eastern Massive Sulfide Zone and were drilled to better
delineate the northeast boundary of the mineralized Eastern Zone
(Figure 2).
Drill hole MB-2012-134 intersected 18.4 metres of 3.21%
zinc, 0.41% copper, 1.54% lead, 1.16 gpt gold and 61.9 gpt silver from
139 metres down hole (Table 1).
Please refer to the hyperlink below for the following figures:
Table 1 - Composited Drill Hole Intercepts*
Figure 1 -- Drill hole collar location on contour map of Murray Brook
showing massive sulfide thickness contoured at 10 metre intervals
(source: Votorantim Metals Canada)
*The composite assays provided are of massive sulfide intersections
only employing a 0% Zn cutoff
Note: The widths of the intersections are approximate to the true width
of the mineralized zone.
Figure 2 -- View looking northeast along the horizontal at the 3D model
of the Murray Brook deposit (grey).
Location of the view plane is
highlighted in the index map at the left top corner1 .
1 - Figures 2 and 3 are provided for illustrative purpose, they are
not to scale and have no demonstrated economic viability.
Figure 3 -- View looking down at the 3D model of the Murray Brook
deposit (grey).
The red dashed line illustrates the collar locations of
drill holes MB-2012-139 and MB-2012-140.
Drill holes MB-2012-136 and MB-2012-137 did not return economically
significant results.
Metallurgy
Metallurgical test-work of bulk sample material from the Murray Brook
deposit is currently underway at RPC Laboratories (Fredericton, New
Brunswick), under the direction of Votorantim Metals Canada Inc.,
Operators of the Murray Brook Project.
Three holes were drilled to
provide sample materials for metallurgical tests.
The test-work is
focused on determining potential metal recoveries based on a
recommended metals recovery process flowsheet which, subsequently, will
form the basis for a small scale metallurgical pilot plant program.
Metallurgical results, along with a revised resource estimate which
will incorporate 2012 drill results, will form the basis of a
Preliminary Economic Assessment (PEA or Scoping Study) study to be
completed in Q1 2013.
2012 Exploration Program
A minimum $3 million budget has been proposed for the remainder of 2012
exploration program.
The budget includes $2.5 million for diamond
drilling work on the Murray Brook deposit and a $500,000 exploration
program on the Murray Brook property and the adjacent Camel Back
property (Figure 2).
The Camel Back property is located in the area
between the Murray Brook deposit to the west, which is one of the
largest massive sulfide deposits in the Bathurst Mining Camp (BMC), and
the Caribou deposit to the east which was recently acquired by Trevali
Mining Corporation.
The 2012 exploration program consists of:
- $2.5 million budgeted for drill programs to develop the project
including:
- An 18,470 metre drill program that began February 2012 and was
completed on June 17th 2012.
- Delineate the outer perimeter of the Murray Brook deposit and
advance the resources into the measured (highest confidence) category
- $0.5 million budgeted for exploration of the Murray Brook and
Camel Back Properties
- Mapping and prospecting
- Ground gravity geophysics
- 2,000 metres of drilling with bore-hole EM surveys
The Exploration Agreement
Votorantim is the Operator of the Murray Brook Project.
In January
2011, ELN announced that it provided notice to Votorantim to enter into
a Participation Agreement on the Murray Brook polymetallic massive
sulfide deposit situated in the Bathurst Mining Camp in New Brunswick,
Canada.
Under Votorantimʹs Option and Joint Venture Agreement with Murray
Brook Minerals Inc.
and Murray Brook Resources Inc., both privately
held companies, Votorantim can earn a 50% interest in the properties by
funding $2,250,000 in exploration expenditures and making payments
totalling $300,000 over a three year period that commenced November 1,
2010.
Votorantim can earn an additional 20% interest in the properties
by funding an additional $2,250,000 in exploration expenditures over an
additional two year period.
ELN has elected to enter into a
participation agreement wherein it can earn 50% of Votorantims
interest by paying 50% of the costs incurred by Votorantim in the
Option and Joint Venture Agreement.
On May 10, 2012 ELN announced that Murray Brook Minerals Inc.
(MBM) has
been given formal notice by ELN and Votorantim Metals Canada
("Votorantim") of a 50% earned interest in the Murray Brook,
Polymetallic project, Bathurst, New Brunswick.
MBM has also been
provided with a valid notice that ELN and Votorantim are exercising
their option to acquire and become owner of an additional 20% (for a
total of 70%) beneficial interest in the Murray Brook mining claims.
About The Murray Brook Project
The Murray Brook Project is historically the 5th largest massive
sulfide deposit in the Bathurst Mining Camp and has excellent
infrastructure (Figure 4).
To date, more than 28,000 metres of drilling
has been completed with encouraging results.
The first NI 43-101
Mineral Resource Estimate for the Murray Brook Zn-Cu-Pb-Ag-Au deposit,
which includes explanatory footnotes, is presented in the table below
(see ELN press release dated February 28, 2012).
The resource estimate
is based on various assumptions regarding mining methods, processing
and metal recoveries, payable metal NSR credits and metal prices.
This
estimate makes no provision for capital costs to mine the deposit, nor
mill the material mined, as resources are not reserves.
The Technical
Report on the 2012 NI43-101 Mineral Resource Estimate is filed on
SEDAR.com and is available on ELNs website.
Qualified Persons Statement
This news release has been reviewed and approved for technical content
by Ali Hassanalizadeh M.Sc.
P.Geo.
MBA, a qualified Person under the
provisions of National Instrument 43-101.
Votorantim Metals Canada Inc.
Statement
Technical details in this news release were provided by Votorantim
whose professional geologists conduct operations consistent with
mineral industry best practices.
Votorantim accepts no responsibility
for this news release or any inferences made from the technical details
provided herein.
Murray Brook Mineral Resource Estimate Summary
http://www.elninoventures.com/s/NewsReleases.asp?ReportID=541756
Mineral resources which are not mineral reserves do not have
demonstrated economic viability.
The estimate of mineral resources may be materially affected by
environmental, permitting, legal, title, taxation, socio-political,
marketing, or other relevant issues.
1.
The quantity and grade of reported Inferred resources in this
estimation are uncertain in nature and there has been insufficient
exploration to define these Inferred resources as an Indicated or
Measured mineral resource and it is uncertain if further exploration
will result in upgrading them to an Indicated or Measured mineral
resource category.
2.
The mineral resources in this news release were estimated using the
Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM
Standards on Mineral Resources and Reserves, Definitions and Guidelines
prepared by the CIM Standard Committee on Reserve Definitions and
adopted by CIM Council
3.
The Dec 31, 2011 two year trailing average US metal prices used in
this estimate were $3.71/lb Cu, $1.03/lb Pb, $0.98/lb Zn, $1,397/oz Au,
$27.63/oz Ag.
The C$/US$ Exchange rate was 0.99.
4.
Overall payable metal in the NSR calculation were 81% Cu, 72% Pb,
64% Zn, 71% Au and 56% Ag.
5.
Mineral resources were determined within a Whittle pit shell with 45
degree slopes utilizing mining costs of C$2.50/tonne for mineralized
material and waste rock, and C$1.75/tonne for overburden.
6.
Costs used to determine the C$20/tonne NSR resource cut-off value
were processing at C$15/tonne and G&A C$5/tonne.
7.
The Murray Brook Mineral Resource Estimate was undertaken by Eugene
Puritch, P.Eng.
of P&E Mining Consultants Inc.
About Murray Brook Minerals Inc.
Murray Brook Minerals Inc.
is a privately owned mining exploration
company, owner of one of the largest deposits in the Bathurst Mining
Camp, (New Brunswick, Canada) the Murray Brook Deposit, as well as of
the Camel Back Property consisting of 215 claims.
About Votorantim Metals Canada Inc.
Votorantim Metals Canada Inc.
is a subsidiary of Votorantim Metais; a
company that is part of the Votorantim Group that was founded in Brazil
in 1918 operates in over twenty countries and has forty thousand
employees.
Votorantim Metais is one of the five main zinc manufacturers
worldwide, the main electrolytic nickel manufacturer in Latin America,
and the Brazilian leader in the production of primary aluminum.
About El Nino Ventures Inc.
El Nio Ventures Inc.
is an international exploration company, focused
on exploring for lead, zinc, copper, gold and silver in New Brunswick,
Canada and copper in the Democratic Republic of Congo ("DRC").
On Behalf of the Board of Directors
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
Further Information: Tel: +1 604 685 1870 Fax: +1 604 685 8045
Email: or visit www.elninoventures.com
650-555 West 12th Avenue, City Square, West Tower, Vancouver, B.C.,
Canada, V5Z 3X7
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements.
Note: This
release contains forward-looking statements that involve risks and
uncertainties.
These statements may differ materially from actual
future events or results and are based on current expectations or
beliefs.
For this purpose, statements of historical fact may be deemed
to be forward-looking statements.
In addition, forward-looking
statements include statements in which the Company uses words such as
"continue", "efforts", "expect", "believe", "anticipate", "confident",
"intend", "strategy", "plan", "will", "estimate", "project", "goal",
"target", "prospects", "optimistic" or similar expressions.
These
statements by their nature involve risks and uncertainties, and actual
results may differ materially depending on a variety of important
factors, including, among others, the Companys ability and
continuation of efforts to timely and completely make available
adequate current public information, additional or different regulatory
and legal requirements and restrictions that may be imposed, and other
factors as may be discussed in the documents filed by the Company on
SEDAR (www.sedar.com), including the most recent reports that identify
important risk factors that could cause actual results to differ from
those contained in the forward-looking statements.
The Company does not
undertake any obligation to review or confirm analysts expectations or
estimates or to release publicly any revisions to any forward-looking
statements to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
Investors should not
place undue reliance on forward-looking statements.
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Copyright (c) 2012 EL NINO VENTURES INC.
(ELN) All rights reserved.
For more information visit our website at
http://www.elninoventures.com/ or send mailto:
Message sent on Tue Aug 28, 2012 at 5:42:58 AM Pacific Time
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