🕐02.10.12 - 15:27 Uhr
EL NIÑO VENTURES INC. ANNOUNCES A 45.4 METRE DRILL INTERSECTION ASSAYING 8.49%
ZINC, 0.18% COPPER, 4.58% LEAD, 0.59 GPT GOLD AND 152.2 GPT SILVER AT THE MURRAY BROOK DEPOSIT, NEW BRUNSWICK
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Re: News Releases - Tuesday, October 02, 2012
El Nio Ventures Inc.
announces a 45.4 metre drill intersection
assaying 8.49% Zinc, 0.18% Copper, 4.58% Lead, 0.59 gpt Gold and
152.2 gpt Silver at the Murray Brook Deposit, New Brunswick
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Drilling Highlights
- 8.49% zinc, 0.18% copper, 4.58% lead, 0.59 gpt gold and 152.2 gpt
silver over 45.4 metres in drill hole MB-2012-138
- Including 13.7% zinc, 0.20% copper, 9.60% lead, 1.10 gpt
gold and 269.7 gpt silver over 11.0 metres
- 2.82% zinc, 0.65% copper, 1.78% lead, 1.57 gpt gold and 63.9 gpt
silver over 11.6 metres in drill hole MB-2012-144
- Metallurgical test results to be available in fourth quarter of
2012
- An updated NI43-101 mineral resource estimation is slated for
completion in the last quarter of 2012
- Votorantim Metals Canada Inc., a wholly owned subsidiary of
Votorantim Metais which is Brazils second largest mining company,
provided further option to ELN to purchase an additional 15% in the
project for a combined total of 50%.
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October 2, 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 ten 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 infill and delineation drilling.
The 2012 drill
program was completed in June.
Ninety seven vertical holes were drilled
for a total of 18,470 metres.
To view Table 1, Figures 1, 2 & 3, please visit the hyperlink below:
http://www.elninoventures.com/s/NewsReleases.asp?ReportID=550782
MB-2012-138 was drilled to infill gaps in the previous drilling
(Figures 1).
Hole MB-2012-138 was drilled in the northern side of the
Western Zone and intersected 45.4 metres of 8.49% zinc, 0.18% copper,
4.58% lead, 0.59 gpt gold and 152.2 gpt silver from 179.6 metres down
hole, including 11.0 metres of 13.7% zinc, 0.20% copper, 9.60% lead,
1.10 gpt gold and 269.7 gpt silver from 214.0 metres down hole (Table
1).
Holes MB-2012-141 to 143, 146 and 148 were drilled to better delineate
the western boundary of the Western Zone and Holes MB-2012-144, 145,
147 and 149 were drilled to delineate the northeastern boundary of the
eastern Zone (Figure 1).
Western Zone appears thicker and more Zn-Pb-Ag
rich where Eastern Zone is thinner and more Cu-Au rich.
Hole MB-2012-144, drilled in the northeastern side of the Eastern Zone
intersected 11.6 metres of 2.82% zinc, 0.65% copper, 1.78% lead, 1.57
gpt gold and 63.9 gpt silver from 147.4 metres down hole (Table 1).
Drill holes MB-2012-144 and MB-2012-149 in the Eastern Zone, and Drill
Holes MB-2012-137 and MB-2012-146 to MB-2012-148 in the Western Zone
were drilled in areas that were not drilled previously and are external
to the resource defined by the 2012 NI 43-101 compliant resource
estimate (Figure 2).
These holes as well as all other holes drilled in
2012 will be included in and will augment an updated National
Instrument 43-101 ("NI 43-101") mineral resource estimate slated for
completion in the last quarter of 2012.
Table 1 - Composited Drill Hole Intercepts
http://www.elninoventures.com/s/NewsReleases.asp?ReportID=550782
*The composite assays provided are of massive sulfide intersections
only employing a 0% Zn cutoff
Note: Intervals approximate the true width of the mineralized zone.
Drill holes MB-2012-143 and MB-2012-145 to MB-2012-148 were drilled to
delineate the boundaries of the deposit and did not return economically
significant results.
The 2012 drilling program was very successful in delineating the Murray
Brook Massive sulfide deposit.
2012 Exploration Program
A $3 million exploration budget was approved for the 2012 exploration
drill program.
It includes $2.5 million for drilling measured resources
at the Murray Brook deposit and $500,000 for exploration of the Murray
Brook and Camel Back properties, both of which are covered by the
option agreement with Murray Brook Minerals.
In addition to exploration activities a metallurgical tests of a 3
tonne bulk sample of drilled massive sulfide material from the Murray
Brook deposit is currently underway.
Three HQ diameter diamond 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 flow sheet which, subsequently,
will form the basis for a small scale metallurgical pilot plant
program.
Metallurgical results, along with an amended resource
estimation incorporating the 2012 drill results, will form the basis of
a Preliminary Economic Assessment (or Scoping Study) study planned for
completion in Q1 2013.
Should the PEA be positive it is anticipated the project will enter a
prefeasibility stage and in 2013 work will include some additional
resource definition drilling, drilling to obtain a 30 -- 40 tonne
sample for metallurgical studies, geotechnical drilling and
environmental assessment studies.
Please see Project page.
The Exploration Agreement
On September 6, 2012 ELN announced that Murray Brook Minerals Inc.
("MBM") has been given formal notice by both ELN and Votorantim Metals
Canada Inc.
("VMC") that a 70% earned interest in the Murray Brook
polymetalic project, Bathurst, New Brunswick has been completed.
ELN and VMC currently own 70% of the project, of which 35% is held by
each of the two parties.
Under a purchase agreement signed by VMC on August 28, 2012 with MBM
and Murray Brook Resources Inc.
(collectively the owners), VMC acquired
the right to purchase the additional 30% of the Murray Brook Project
from the owners.
ELN has been provided the option to purchase an
additional 15% in the project for a combined total of 50% (35% +15%).
Although the terms of the Participation Agreement provided for a
three-year period to earn the initial 50% and two years to earn the
additional 20%, ELN and VMC completed their earn-in in less than 18
months.
Encouraging drill results and a robust NI 43-101 resource
estimation accelerated the exploration and development programs and is
a testament to Votorantims commitment to aggressively advance the
project (see ELN press releases dated: February 28 and May 17, June 5,
June 27, July 17, July 30, August 14 and August 28, 2012).).
About The Murray Brook Project
The Murray Brook project is a polymetallic, massive sulfide deposit.
Historically, the deposit is the fifth largest in the Bathurst Mining
Camp, New Brunswick.
The Murray Brook property is located 60 km west of
Bathurst.
It is supported by excellent infrastructure, including paved
roads, grid electricity and communities to provide goods, services and
skilled labour (Figure 3).
To date, more than 28,000 metres of drilling
has been completed with encouraging results.
In February 2012, a NI
43-101 resource estimation was announced (see news release).
The
technical report is filed on SEDAR.com and also 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.
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)
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Figure 2 -- View looking down at the 3D model of the Murray Brook
deposit (Orange).
The red line illustrates the areas outside the 2012
NI 43-101 compliant resource estimate1 .
1Figures 2 is provided for illustrative purpose, it is not to scale and
have no demonstrated economic viability.
Figure 3 - Land tenure map showing the location of the Murray Brook
Project in the northwest part of the Bathurst Mining Camp, New
Brunswick
Votorantim Metals Canada Inc.
Statement
http://www.elninoventures.com/s/NewsReleases.asp?ReportID=550782
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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.
About Murray Brook Minerals Inc.
Murray Brook Minerals Inc.
is a privately owned mining exploration
company with mineral properties in New Brunswick, Canada.
It is owner
of the Murray Brook deposit, situated on Mining lease 252 (352 Ha),
which is one of the largest massive sulfide deposits in the Bathurst
Mining Camp.
It is also owner of the Camel Back Property consisting of
215 claims (3,440 Ha) and the Legacy Copper-Silver project which
consists of 23 claims (564.6 Ha).
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 one of the Brazilian leaders 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 Oct 2, 2012 at 5:47:36 AM Pacific Time
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