Bactech Environmental Corp. press release
Update on the TL Nickel-Copper Property, Labrador and on the Ganarin and Condorcocha Gold-Silver Projects, Southern Ecuador
CSE - Canadian National Stock Exchange · Gold · Silver · Arsenic · Iron · Nickel · Copper · Cobalt · Rare Earth Elements · Canada
(TSX-V: NVT)
VANCOUVER, Aug. 11 /CNW/ - Nortec Ventures Corp., (TSX-V: NVT) ("Nortec" or the "Company"), a junior mineral exploration company with common shares listed on the TSX Venture Exchange is pleased to provide progress reports on its TL nickel-copper project in Labrador, Canada and the Ganarin and Condorcocha gold-silver projects in southern Ecuador.
TL Nickel-Copper Project Diamond drilling is continuing on the TL nickel-copper property, located 50 kilometers northwest of Inco's large Voisey's Bay nickel-copper deposit in Northern Labrador. A total of 9 drill holes totaling 1456 meters have been completed to date. A minimum of 2500 meters of drilling is expected to be completed in this phase. The core is being cut with a diamond saw and the splits sent for assay to be analyzed for nickel, copper, cobalt, sulphur and the platinum group elements. Results will be announced in a timely fashion as the assays are received. The TL Property is the subject of a joint venture agreement with Vulcan Minerals Inc. (TSX-V: VUL) whereby Nortec may earn a 51% interest in the property.
Ganarin and Condorcocha Projects Further to the news release dated June 7, 2005, the Company completed detailed geochemical soil sampling on contour lines and on grids at 25 meter spacing on the Ganarin and Condorcocha projects in southern Ecuador. Geological mapping at a scale of 1:1000 was also completed. Initial grid soil sampling results from the Lomas La Cruz area on the Ganarin project show extensive parallel geochemical soil anomalies with several values in the range of 1000 to 8000 parts per billion ("ppb") gold. One of the anomalies with values greater than 500 ppb gold trends for a distance of 200 meters. These anomalies coincide with several parallel quartz-chalcedony breccia veins and veinlets. Initial results in the Chamana area located 800 meters north of Loma La Cruz also suggest extensive geochemical soil anomalies. Detailed geological mapping and rock sampling results of the veins along with the geochemical soil survey results are being compiled for both the Ganarin and Condorcocha projects, and results will be disseminated on a timely basis. Diamond core drilling of targets identified by the above surveys will be carried out later this year. The amount of proposed drilling will be dependent on the targets identified. The Ganarin Project consists of the Ganarin and Ganarin II mineral concessions, located near the town of Santa Isabel. Ganarin is a gold-silver epithermal prospect with gold and silver values occurring in multi-stage banded chalcedony-quartz veins, veinlets and breccia zones. The mineralization is emplaced in Eocene volcanic rocks of andesitic to dacitic composition belonging to the Ganarin Belt. Precious metal values as reported by previous companies including Newmont and Grantham Resources approach "bonanza" grades in places. Mineralization with associated hydrothermal alteration at Ganarin is exposed over an area of at least 1.5 kilometers (north-south) by 800 meters (east-west) and up to 300 meters vertically. Extensive artisan surface and underground workings occur on the property. Recent sampling of veins and breccia zones in the workings by geologists employed by Doubloon returned several values including 12 grams gold, 18.85 grams gold, and 27 grams gold over narrow widths ranging from 10 cm to 50 cm and grab samples up to 56.6 grams gold. These values suggest an epithermal "bonanza" deposit model but the economic potential of Ganarin has not yet been adequately tested. Confirmation rock sampling results are being compiled at present and will be disseminated upon completion. The Ganarin and Condorcocha properties are both subject to option and joint venture agreements with Doubloon Exploration Corp. ("Doubloon"). Pursuant to the first agreement with Doubloon, Nortec has the option to acquire up to a 51% interest in the Ganarin project, and pursuant to the second agreement Nortec has the option to acquire up to a 70% interest in the Condorcocha project, both located in Azuay province, Ecuador. Mr. Mohan R. Vulimiri, M.Sc. P.Geo., President and Director of Nortec, is the person responsible for initiating and guiding the work programs on the TL Property, the Ganarin and Condorcocha projects. Mr. Vulimiri is a qualified person in accordance with National Instrument 43-101 guidelines. For further details on Nortec Ventures Corp., please visit the company's website at http://www.nortecventures.com.
On behalf of the Board of Directors,
Nortec Ventures Corp.
"Mohan R. Vulimiri" Mohan R. Vulimiri, President & CEO
This press release contains forward-looking statements that involve risks and uncertainties. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the contents herein.