Bactech Environmental Corp. press release
Nortec Provides Update on the TL Nickel-Copper Property, Labrador, and on the Ganarin and Condorcocha Epithermal Projects, Southern Ecuador
CSE - Canadian National Stock Exchange · Gold · Silver · Arsenic · Iron · Nickel · Copper · Cobalt · Rare Earth Elements · Canada
(TSX-V: NVT)
VANCOUVER, June 8 /CNW/ - Further to the news release dated December 15, 2004 Nortec Ventures Corp. ("Nortec" or the "Company") announces that the results from gravity, UTEM and magnetic surveys, and geological mapping carried out on the TL Property, Northern Labrador, were compiled and interpreted by Dr. W.J. Scott of Geoscott Exploration Consultants, St. John's, Newfoundland. The property was acquired through a joint venture with Vulcan Minerals Inc., a TSX Venture resource company, based in St. John's, Newfoundland. Several potential drill targets with coincident strong gravity, UTEM and magnetic anomalies were identified on the property. These targets could represent nickel-copper mineralization occurrences at depth. Drilling carried out by the previous operator intersected nickel bearing ultramafic dykes (up to 2.1% nickel), which could be small intrusions from a larger nickel bearing ultramafic body. Of these, two are very strong with distinct coincident UTEM and gravity anomalies. The "B" Anomaly is located on the western portion of the claims and the data for the anomaly suggest that it dips 30 degrees to the east. Several ultramafic pyroxenite bodies outcrop to the west in places where the anomaly is projected to surface. Drill holes to the east of the anomaly by the previous operator appear to be related to the down dip extension of the anomaly. The anomaly strikes 345 degrees on surface and can be traced for a distance of 1600 metres. The gravity anomaly values reach up to 0.31 milligals and, from modeling, the UTEM conductance values are greater than 2000 Siemens at depths from 75 to 130 metres. Gravity and UTEM data for the "A" Anomaly, located in the northeast part of the property, also suggest that the source for the anomaly is from a large ultramafic intrusive body. One of the previous operator's drill holes intersected and bottomed in 80 metres of gabbro in the area of this anomaly. The anomaly trends north-south with a steep dip and was delineated for a distance of 1800 metres. Gravity anomaly values reach up to 0.28 milligals and the UTEM model conductance values are around 2000 Siemens from depths of 50 to 65 metres. Camp and Drill permits were granted and received from the Department of Natural Resources, Government of Newfoundland and Labrador. Diamond core drilling, up to 4000 metres, is expected to commence in the first week of July 2005. The drill holes are designed to test the two strongest anomalies and the down dip extensions of previous mineralized drill intersections. Geophysical gravity and UTEM surveys are also planned to further define several more targets on the property. Further to the news release dated March 22, 2005, Company has initiated work programs consisting of geochemical soil sampling both on contour lines and on grids at a spacing of 25 metres on the Ganarin and Condorcocha epithermal gold projects, located in Southern Ecuador. Geological mapping on a scale of 1:1000 is also being carried out on the projects. These surveys will assist in the delineation of potential drill targets and interpretation of structural controls of precious metal mineralization on these projects. Shareholders will be updated on a timely basis as the results are received. Mr. Mohan R. Vulimiri, M.Sc. P.Geo., President and Director of Nortec, recently made several visits to the project areas, examined the mineral occurrences and evaluated the available previous exploration reports. 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.