Toronto, Ontario--(Newsfile Corp. - April 22, 2024) - Mink Ventures Corporation (TSXV: MINK) ("MINK" or the "Company") today announced that it has acquired a 100% interest in six (6) mining claims located adjacent to its Warren North claim boundary (see Figures 1 and 2) from STLLR Gold Inc. (TSX: STLR) referred to as the "Warren Northeast" or "WNE" claims. Total consideration made for the six claims is a 2% net smelter return royalty (NSR) on those six claims, granted in favour of STLLR Gold Inc., with Mink retaining the right to a buy-back of 1% NSR for one million dollars (CAD$1,000,000). The combined Warren property now covers 1,130 hectares of land in Whitesides Township, approximately 35 road kilometers west of Timmins, Ontario.
HIGHLIGHTS:
The Warren Northeast (WNE) claims represent a non-dilutive, strategic addition to Mink's Warren Property holdings.
The WNE claims host two significant copper (Cu) zones within historical drill hole ML9601. The upper zone (M1) returned 0.174% Cu over 13 m, including an intercept of 0.36% Cu over 3.05 meters. The lower zone (M2) returned 0.84% Cu over 4.3 meters including higher-grade intercepts of 1.20% Cu over 2.4m and 3.62% Cu over 0.5 meters. Some minor gold values up to 0.25 g/t gold over short intervals were noted with better copper values in the M2 Zone.*
A strong, horizontal loop electromagnetic (HLEM) conductor and coincident pulse EM conductor associated with the M1 and M2 zones is untested for 200 meters along strike to the south of the M1 and M2 intercepts in hole ML9601. No significant drilling to depth has been carried out, the zones have only been evaluated to approximately 120 meters vertical and there has been no down hole geophysics conducted. In addition, there are a number of other EM anomalies present on the WNE claims that are untested.*
The mineralization on WNE claims represents a new geological environment for base metal mineralization on Mink's Warren Project. Historical drill logs suggest that mineralized intervals comprised of semi massive sulphides and stringer sulphide zones are hosted within an intercalated package of altered felsic and mafic volcanics indicative of a new volcanogenic massive sulphide (VMS) environment. The Timmins Mining Camp hosts a number of significant VMS deposits including Glencore's Kidd Mine.
The Company intends to file exploration permit applications for down hole geophysical surveying as well as for a series of diamond drill holes.
* References: Resident Geologist Office Timmins Ontario: Morgain Minerals Drill Logs (K. Lapierre, 1996) and Geophysical Report for Morgain Minerals on the Massey Project, Massey and Whitesides Township, Porcupine Mining Division, Northeastern Ontario. (Grant, J. 1996)
Qualified Person:
Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV: MINK) is a Canadian mineral exploration company exploring for critical minerals (nickel, copper, cobalt) at its Warren and Montcalm projects, in the Timmins, Ontario area. Mink's flagship Montcalm Project covers 40 km2 adjacent to Glencore's former Montcalm Mine which had historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010). Its Warren Ni Cu Co Project, which covers 1,130 hectares is located 35 km away. Both projects have excellent access and infrastructure with an all-weather access road and power as well as its proximity to the skilled labour and facilities of the Timmins Mining Camp. The Company has 18,810,534 shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: ndixon@minkventures.com or Kevin Filo, Director, T: 705-266-6818 or visit www.sedarplus.ca.
Forward Looking Statements
This press release includes certain "forward-looking information", including, but not limited to, statements with respect to the Warren Project, the exploration work required to exercise the option, and the prospectivity of the Warren Project and the Montcalm Project. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of exploration work; inability to raise the money necessary to incur the expenditures required to retain and advance the Warren Project and Montcalm Project; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, or delays in obtaining governmental and stock exchange approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink's filings with Canadian securities regulators available on SEDAR+. These forward-looking statements are made as of the date hereof and Mink disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
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 ac curacy of this release.
Figure 1: Detailed Location Map
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Figure 2: Claim Map
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206370
SOURCE: Mink Ventures Corporation
