Atlas Salt Inc. press release
Significant Gold Results over Substantial Lengths, Chamana Area, Ganarin Property, Southern Ecuador
TSXV - TSX Venture Exchange · Salt · Sodium · Gypsum · Aluminium · Canada
VANCOUVER, Jan. 9 /CNW/ - Further to the press release, dated December 14, 2005, Nortec Ventures Corp., ("Nortec" or the "Company"), is pleased to announce that significant results over substantial lengths were obtained from systematic channel sampling of trenching in the Chamana Oeste and Chamana Este zones, Chamana area, Ganarin Joint-venture Property, Southern Ecuador. Results from this recent sampling are detailed below. The Company had earlier reported results over short lengths from surface sampling, some of the results were 18.35 grams/tonne, 22.6 grams/tonne and greater than 1000 grams/tonne gold. The Company is encouraged by these new sample results suggesting the presence of economic bonanza gold-silver deposits at depth.
Chamana Oeste:
Trenching and channel sampling of a north-east trending road-cut within the large geochemical soil anomaly in the Chamana Oeste area returned values of 0.628 grams/tonne gold over 104 metres including 0.931 grams/tonne over 32 metres. The detailed grid soil anomaly (line spacing of 25 metres) with values greater than 100 parts per billion gold and as high as 2 grams/tonne gold was traced over an area 200 metres by 300 metres by sampling. The area is underlain by zones of intense silicification, argillic alteration, quartz-chalcedony breccias and vuggy-druzy quartz stockwork zones, including silica sinter deposits. In 1993 Newmont drilled 6 random rotary holes in the area. One of the holes was designed to intersect the Chamana Oeste breccia zone at depth. The hole was terminated at the top of the breccia zone due to drilling problems, but It returned 3.6 grams/tonne gold over 1.5 metres at the bottom of the hole. Detailed geological mapping and geochemical soil anomalies suggest the mineralization is controlled by north-north-east and east-north- east structures. Further trenching of other geochemical soil anomalies is in progress.
<< Trench No CTR05-14
Sample Metres Metres Gold Silver Sample Metres Metres Gold Silver No. From To g/t g/t No. From To g/t g/t
15738 0.0 2.0 0.031 0.4 15764 52.0 54.0 1.055 2.0 15739 2.0 4.0 0.177 0.5 15765 54.0 56.0 2.450 1.3 15740 4.0 6.0 0.516 1.0 15766 56.0 58.0 0.964 1.5 15741 6.0 8.0 0.470 1.6 15767 58.0 60.0 1.110 1.7 15742 8.0 10.0 0.471 0.9 15768 60.0 62.0 1.175 1.9 15743 10.0 12.0 0.621 0.7 15769 62.0 64.0 1.410 1.0 15744 12.0 14.0 1.320 1.2 15770 64.0 66.0 0.786 1.4 15745 14.0 16.0 1.520 1.3 15771 66.0 68.0 0.250 2.0 15746 16.0 18.0 2.090 1.2 15772 68.0 70.0 0.674 1.2 15747 18.0 20.0 0.304 0.8 15773 70.0 72.0 1.145 3.1 15748 20.0 22.0 0.483 0.9 15774 72.0 74.0 0.497 1.3 15749 22.0 24.0 0.288 0.9 15775 74.0 76.0 0.583 1.5 15750 24.0 26.0 0.175 1.7 15776 76.0 78.0 0.339 2.1 15751 26.0 28.0 0.228 1.3 15777 78.0 80.0 0.254 1.1 15752 28.0 30.0 0.230 0.8 15778 80.0 82.0 0.592 0.8 15753 30.0 32.0 0.321 0.9 15779 82.0 84.0 1.250 0.7 15754 32.0 34.0 2.330 2.8 15780 84.0 86.0 0.298 1.3 15755 34.0 36.0 1.705 3.4 15781 86.0 88.0 0.254 1.1 15756 36.0 38.0 0.248 2.0 15782 88.0 90.0 0.406 0.7 15757 38.0 40.0 0.199 1.4 15783 90.0 92.0 0.136 0.9 15758 40.0 42.0 0.331 2.2 15784 92.0 94.0 0.162 0.8 15759 42.0 44.0 0.398 1.6 15785 94.0 96.0 0.165 1.7 15760 44.0 46.0 0.46 1.5 15786 96.0 98.0 0.156 0.3 15761 46.0 48.0 0.542 1.3 15787 98.0 100.0 0.133 0.5 15762 48.0 50.0 0.125 0.7 15788 100.0 102.0 0.157 1.0 15763 50.0 52.0 0.197 1.1 15789 102.0 104.0 0.254 0.9 Contd. next column 15790 104.0 106.0 0.226 1.0
Average Values Metres Metres Length Gold Silver from to metres g/t g/t
2.0 106.0 104.0 0.628 1.33 4.0 90.0 86.0 0.722 1.42 4.0 84.0 80.0 0.753 1.45 10.0 76.0 66.0 0.794 1.50 10.0 72.0 62.0 0.811 1.51 12.0 64.0 52.0 0.833 1.48 52.0 84.0 32.0 0.939 1.54
Chamana Este:
Chamana Este zone occurs approximately 180 metres east of the Chamana Oeste zone. Channel sampling of exposed chalcedony breccias and an underground cross-cut approximately 25 metres apart returned significant gold-silver values as shown in the following tables. A large geochemical soil anomaly with values greater than 100 ppb gold and values as high as 647 ppb gold was delineated in the area. The anomaly occurs over an area approximately 200 metres by 100 metres and trends east-west.
Trench No CTR05-02 (surface sampling of chalcedony breccia zones with stockwork veins and veinlets from mineralized structures to the south-east wall)
Sample Metres Metres Gold Silver Sample Metres Metres Gold Silver No. From To g/t g/t No. From To g/t g/t
15526 0 1 0.108 1.6 15535 9 10 0.145 3.3 15527 1 2 0.092 14.2 15536 10 11 0.313 15.8 15528 2 3 4.670 16.0 15537 11 12 0.201 5.3 15529 3 4 3.050 99.7 15538 12 13 0.163 4.2 15530 4 5 1.625 36.1 15539 13 14 0.284 9.8 15531 5 6 0.294 3.1 15540 14 15 0.458 8.7 15532 6 7 0.072 2.3 15541 15 16 0.355 14.3 15533 7 8 0.121 0.9 15542 16 17 0.980 29.2 15534 8 9 0.105 2.4 15543 17 18 0.659 17.6 15535 9 10 0.145 3.3
Average Values Metres Metres Length Gold Silver from to metres g/t g/t
0 18 18 0.761 15.81 2 18 16 0.843 16.79 2 5 3 3.115 50.60
Trench No CTR05-03 (underground cross-cut towards mineralized structure towards south-south-east):
Sample Metres Metres Gold Silver Sample Metres Metres Gold Silver No. From To g/t g/t No. From To g/t g/t
15544 0 1 0.040 1.2 15551 7 8 0.025 1.0 15545 1 2 0.074 0.7 15552 8 9 0.063 0.7 15546 2 3 0.177 0.4 15553 9 10 0.024 0.8 15547 3 4 0.054 0.6 15554 10 11 0.058 4.2 15548 4 5 0.048 0.9 15555 11 12 1.655 51.3 15549 5 6 0.073 0.6 15556 12 13 2.630 32.5 15550 6 7 0.040 1.3 15557 13 14 7.310 31.6
Average Values Metres Metres Length Gold Silver from To metres g/t g/t
11 14 3 3.865 38.47
Proposed Work Program:
The Company's Management is very pleased with the results to date which suggest that the Ganarin gold-silver property could potentially host several mineralized gold-silver shoots with bonanza grades. Bonanza grades such as the above are very common in epithermal deposits. The modes of occurrence of mineralization appear to be very similar to the Comstock and Midas camps in Nevada, USA and the epithermal camps, such as the Kupol district, of eastern Siberia, Russia. In view of these very positive results, the Company is planning an extensive drill program. Systematic follow-up work consisting of 2000 metres of core drilling of the Chamana breccia zones, Rio Minas and Loma la Cruz zones is being planned for the next phase. Drill permits are being applied for with the Ecuador Ministry of Mines, with the drilling commencing on receipt. ALS Chemex Labs of North Vancouver, BC, Canada performed sample preparation and analyses. The samples were analyzed for gold by fire assay with atomic absorption finish and for other elements by 34 element aqua regia ICP method. The Ganarin property is subject to option and joint venture agreements with Doubloon Exploration Corp. whereby, Nortec has the option to acquire 51% interest in the Ganarin property located in Azuay province, Ecuador. The Ganarin property is situated in the prolific Ganarin Mineral Belt. IAMGOLD Corporation's Quimsacocha gold deposit occurs in the same belt approximately 40 kilometres northeast of the Ganarin Property. Channel Resources' El Mojo gold property also occurs in the same area. 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 Property. Brian T. Malahoff, P.Geo, is the person carrying out detailed geological mapping and systematic channel sampling on the Property. Mr. Vulimiri and Mr. Malahoff are qualified persons in accordance with National Instrument 43-101 guidelines. For further details and locations of the various zones on the Ganarin Property and information 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.
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