VANCOUVER, Sept. 26, 2012 /CNW/ - El Niño Ventures Inc. ("ELN" and the "Company") (TSXV: ELN) (Frankfurt:
E7QN) (OTCQX: ELNOF) is pleased to announce that it is retaining the services of Renmark
Financial Communications Inc. to enhance and increase its existing
investor relations activities. Renmark will focus on increasing
visibility of El Nino Ventures in the retail investment community.
"We are pleased to announce that we have selected Renmark to reinforce El
Niño Ventures Inc.'s profile in the financial community and enhance the
visibility of our project portfolio. We choose Renmark because its
standards and methodologies fit best with the message we wish to
communicate to the investing public," noted Harry Barr, Chairman and CEO of El Niño Ventures Inc.
In consideration of the services to be provided, El Niño Ventures Inc.
has agreed to a monthly agreement with a monthly retainer of $7,000
with a 3-month out clause to Renmark Financial Communications Inc.
Renmark Financial Communications Inc. does not have any interest,
directly or indirectly, in El Niño Ventures Inc. or its securities, or
any right or intent to acquire such an interest.
About El Niño Ventures Inc.
El Niño Ventures Inc. is an international exploration and development
company, focused on exploring for zinc, copper, silver, gold and lead
in New Brunswick, Canada and copper/cobalt in the Democratic Republic
of Congo ("DRC").
About El Niño Ventures Inc. Bathurst Projects
El Niño Ventures Inc. has two active projects in the Bathurst Mining
Camp, New Brunswick;
1. Bathurst Mining Camp Project - Bathurst Option Joint Venture (BOJV)
Consists of an initial 4,712 claims in the tri-party agreement with
Xstrata Zinc Canada & Votorantim Metals Canada ("VM Canada"), (wholly
owned subsidiary of Votorantim Metais, the 2nd largest mining company in Brazil) whereby VM Canada may incur
exploration expenditures of $10 million over a period of 5 years to
earn a 50% interest. VM Canada may further increase its interest to 70%
by spending an additional $10 million over 2 years. The 2012
exploration program, funded entirely by Votorantim, consists of approx.
12,000 metres of drilling on select targets. The program also included
airborne and ground geophysics.
The BOJV agreement has an area of interest clause that provides for the
ability for VM Canada, Xstrata Zinc and
ELN to elect to participate in any new acquisitions within the area of
interest. In September 2012 VM Canada, as the operator of the BOJV
agreement, contracted Diagnos Inc. of Brossard, Quebec to complete a
comprehensive study utilizing their proprietary software (see Diagnos TSX.V: ADK press release dated September 18) that will identify areas (within the area of interest) with high
statistical probability of containing mineralization.
2. Murray Brook Polymetallic Project - Bathurst, N.B.
The Murray Brook acquisition for ELN was a direct result of the Area of
Interest clause in the BOJV agreement, as outlined previously. Murray
Brook is a polymetallic, massive sulphide deposit, and is currently
under evaluation for the development potential of an open pit mine.
Historically, the deposit was the fifth largest in the Bathurst Mining Camp and is under option to VM and ELN from Murray Brook Minerals (MBM) and
Murray Brook Resources (MBR). The Murray Brook project 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 1). To date, more than 28,000 metres of drilling has been completed with
In February 2012, an NI 43-101 resource estimation was announced (see news release. The technical report is filed on SEDAR.com and also available on ELN's website.
An updated NI 43-101 is slated for release by the end of 2012 and will
include the results of the 18,500 metre drill program. Plans are to
complete a Preliminary Economic Assessment (PEA) by the end of the
first quarter of 2013.
Although the terms of the agreement with VM Canada, ELN, MBM and MBR
provided for a three-year period to earn the initial 50% and two years
to earn the additional 20%, VMC and ELN completed their 70% earn-in in
less than 18 months. Encouraging drill results and a very positive NI
43-101 resource estimation accelerated the exploration and development
programs and is a testament to both ELN and Votorantim's commitment to
aggressively advancing the project (see ELN press releases dated: May 17, June 5, June 27, July 17, July 30, August 14 and August 28, 2012).
Under a purchase agreement signed by VMC on August 28, 2012 with MBM and
MBR., VM Canada acquired the right to purchase the additional 30% of
the Murray Brook Project. ELN has been provided the option to earn an
additional 15% in the project for a combined total of 50% (35% +15%).
The company is currently completing the 2012 $3 million exploration
program that will include:
$2.5 million exploration a the Murray Brook deposit, 97 holes drilled
for a total of 18,500 metres
$500,000 exploration at the adjacent Camel Back property
Updated resource calculation and initial metallurgical study
Metallurgical test-work of bulk sample material from the Murray Brook
deposit is currently underway at RPC Laboratories (Fredericton, New
Brunswick). Under the direction of Votorantim Metals Canada Inc.,
operators of the Murray Brook Project, three 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 flowsheet
which, subsequently, will form the basis for a small scale
metallurgical pilot plant program.
Metallurgical results, along with a revised resource estimate will
incorporate 2012 drill results, and will form the basis of a
Preliminary Economic Assessment study to be completed in Q1 2013.
Phase 2 of Metallurgical studies (Pilot Plant), Preliminary Economic
Assessment Studies, Geotechnical drilling, detailed delineation of base
of oxidation and Environmental assessment studies are slated for 2013.
Subject to continued positive results, the companies plan to complete a
pre-feasibility study and a feasibility study by 2015.
Figure 1- Land tenure map showing the location of optioned properties in
the Bathurst Mining Camp
3. Kasala Copper-Cobalt Project - DRC
The Kasala Copper/Cobalt project is located in the Democratic Republic
of Congo's Central African Copper Belt, approximately 16 miles from
Minmetals Mining Resources' Kinsevere Mine (formerly owned by Anvil
Mining). Anvil Mining was recently purchased by Minmetals Mining
Resources for $1.3 billion. Drilling has intercepted of up to 23 metres
grading 3.28% Cu on the Kasala project. The project is currently under Force Majeure pending outcome of arbitration in British Columbia and litigation in
On Behalf of the Board of Directors
Chairman & CEO
El Niño Ventures Inc.
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: 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 Company's 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.
SOURCE: El Nino Ventures Inc.
For further information:
Tel: +1 604 685 1870 Fax: +1 604 685 8045
Email: email@example.com or visit www.elninoventures.com
650-555 West 12th Avenue, City Square, West Tower, Vancouver,
B.C., Canada, V5Z 3X7
Renmark Financial Communications Inc.
Robert Thaemlitz: firstname.lastname@example.org
John Boidman: email@example.com
Tel.: (514) 939-3989 or (416) 644-2020