Assay results for the due diligence drill program positively confirmed
the grades for zinc, copper, lead, gold and silver as previously
determined by hand held XRF analyzer.
Significant drill results in hole MB-10-16:
9.56% Zinc; 3.39% Lead; 122.1 g/t (3.56 opt) Silver; 0.10 g/t Gold and
0.47% Copper over 27.00 metres (88.56 ft)
6.98% Zinc; 2.22% Lead; 89.1g/t (2.60 opt) Silver; and 0.08% Copper over
12 metres (39.37 ft)
Significant drill results in hole MB-10-15:
9.16% Zinc; 2.00% Lead; 77.0 g/t (2.25 opt) Silver; 1.6 g/t (0.05 opt)
Gold and 0.10% Copper over 3.90 metres (12.79 ft)
7.51% Zinc; 4.24% Lead 84.0 g/t (2.45 opt) Silver; 1.0 g/t (0.05 opt)
Gold and 0.10% Copper over 17.00 metres (55.77 ft)
Work in Q1 2011 included a property wide HeliTEM survey utilizing a-100
m line spacing and a Phase I - 3,500 metres drilling program. Final
HeliTEM survey results are pending; Phase I drilling is complete and is
now pending verification assay results.
VANCOUVER, May 11 /CNW/ - El Niño Ventures Inc. ("ELN" or "Company")
(TSX.V: ELN) (OTCQX: ELNOF) (FSE: E7Q) is pleased to announce
significant diamond drill results from the Murray Brook project in the
Bathurst Mining Camp, New Brunswick.
Under the terms of the original Tri-Party Agreement between El Niño,
Xstrata Zinc Canada ("Xstrata Zinc") and VotorantimMetals Canada Inc.
("VM Canada") (May 2010). El Niño has the right to and has provided
notice to VM Canada in January 2011 that it intends to enter into a
second agreement with VM Canada whereby it could earn a 50% interest in
VM Canada's position on the Murray Brook property. (This agreement
remains subject to certain conditions and final acceptance from the TSX
Significant assay results from an initial, 595 metre, due diligence,
drill program of three drillholes on the Murray Brook Project are
listed in Table-1.
Table-1 Significant Drill Intervals (Composite Results)
The program was designed to confirm the grade and width of the
massive-sulphide body, where intertsected, in three, historical, drill
holes reported by previous operators.
Under the terms of the Agreement between El Niño and VM Canada, El Niño
could earn a 50% interest in VM Canada's option interest of Murray
Brook project. (This agreement remains subject to certain conditions
and final acceptance from the TSX Venture Exchange.)
The Murray Brook deposit is a polymetallic, volcanic hosted,
massive-sulphide deposit and is the fifth largest in the Bathurst
Mining Camp. The property is located approximately 60 km west of
Bathurst New Brunswick, in Restigouche County, within the Bathurst
Mining Camp. An existing gravel road accesses the property from a paved
highway. The electricity grid is nearby, as are communities with
goods, services and skilled labor.
The gossan indicated on the section below was removed during the
open-pit mining operations carried out by Novagold Resources Inc.
during the early 1990s. The hanging wall is moderately chloritic and is
locally intensely deformed. The foot wall consists of fine grained,
felsic tuff and tuffaceous sediments with moderate to strong chlorite
and sericite alteration. Sulphides are mainly fine grained, massive,
vaguely laminated pyrite with disseminated and banded sphalerite,
chalcopyrite and galena.
Removal of the gossan also removed any evidence of previous drilling
within the shallow pit area. Consequently, VM Canada's due diligence
process to acquire the Murray Brook deposit required the confirmation
of several historically, reported drill results, in addition to
compilation of previous work. Three holes from previous drill campaigns
on the Murray Brook deposit were redrilled (twinned). A total of 595
metres was drilled during the twin-hole program, including 40 metres on
one abandoned drillhole. Significant drill results from the due
diligence, drill twin-hole program included massive sulphide
intersections that were similar in width, position and positively
confirmed the grades for copper, lead, zinc, gold and silver reported
from the three previously drilled holes. Based in part on these
results, VM Canada entered into an option agreement with Murray Brook
A vertical section through the twin-holes drilled in the program is
presented in Figure-1 with composite grades calculated from the assay
To view "Figure-1 Drill section showing three due diligence drill holes" please click: http://www.elninoventures.com/s/NewsReleases.asp?ReportID=455774
Table-2, below, summarizes the assay-composite grades from the current
twin-hole, drill program (MB-10-15, 16 & 17) compared to composite
grades from assay results reported for the three, previously drilled
holes (MB-98-13, CP-20, & R-3 respectively). The assay results for this
twin-hole drill program have confirmed the presence of massive-sulfide
mineralization and verified, with allowances for natural variation, the
grades for copper (Cu), lead (Pb), zinc (Zn), gold (Au) and silver (Ag)
reported from the three, previous drillholes, as well as the apparent
width of the massive sulphide intercepts.
To view "Table-2 Composite Assay Comparison between Historical and VM Canada Diamond
Drilling", please click: http://www.elninoventures.com/s/NewsReleases.asp?ReportID=455774
VM Canada has recently completed a Phase I, 3,500 metre, drill program
(16 holes). The Phase I, drilling program has tested specific portions
of the Murray Brook deposit. Verification assays are pending.
Approximately 50% of historical drill holes were not assayed for
precious metal content. VM Canada routinely assays mineralized drill
core for Cu, Pb, Zn, Au and Ag.
A planned 3,500 metre, Phase II, drill program is scheduled to commence
on or about June 01, 2011. Phase II drilling will focus on areas with
low drill density (as determined from historical drilling records), any
higher-grade intervals intersected in the Phase I program as well as
test the known margins and possible extensions of the deposit. In
addition, any significant targets resolved by the recently completed
HeliTEM survey and ongoing Falcon AGG (airborne gravity gradiometry)
survey will be evaluated as an additional component of the Phase II
drill program, if feasible.
VM Canada Statement:
Technical details in this news release were provided by VM Canada whose
professional geologists conduct operations consistent with mineral
industry best practices. VM Canada accepts no responsibility for this
news release or any inferences made from the technical details provided
John W. Londry is a Qualified Person (QP) who has reviewed and approves
the information that is included in this press release
About the Bathurst Mining Camp (BMC) Project
Upon execution of the tripartite agreement, the BMC project comprised:
1,805 claims owned 50% ELN, 50% Xstrata Zinc; 2,907 claims owned 100%
by Xstrata Zinc; together with an Area of Interest in which ELN and
Xstrata Zinc hold equal interest. Earlier drilling campaigns delineated
several historical deposits of lead, zinc and copper mineralization
within the 1,805 claims in which ELN currently holds 50% interest (see
June 4, 2008 press release).
In February 2010, ELN announced that a planned $5 million, exploration
program, to consist of airborne and ground geophysics, had begun as
well as a 10,000 metre drill program slated to commence in the spring
of 2011. (See press release dated February 23, 2011).
About the Murray Brook and Camel Back Properties
The 505 hectare, Murray Brook mining lease (ML252) contains the Murray
Brook deposit, discovered in 1956 and mined by Novagold Resources from
1989 to 1992. Total production was 1,384 kg of gold and 9,829 kg of
silver from 2.7 Mt of oxide ore (Gossan). A sulphide resource was
defined below the open pit (Gossan), prior to the implementation of NI
43-101 standards of disclosure, historically reported by NovaGold in
1988 to be 20.2 Mt grading 1.4% Zn, 0.3% Cu, 0.6% Pb, 25 g/t Ag and 0.3
g/t Au. A copper-rich zone within this deposit contains an estimated
2.087 Mt grading 2.0% Cu, 1.1% Zn, 0.4% Pb, 46 g/t Ag and 0.3 g/t Au.
Under the provisions of NI 43-101, insufficient work has been carried
out to classify any of the historic occurrences as current mineral
resources and the historical estimates should not be relied upon.
The Camel Back claim block consists of 215 claims covering 4,100 hectares situated between the
Murray Brook mining lease and the Caribou mining lease (ML246). The
Caribou, Murray Brook and Restigouche deposits are all hosted within
the California Lake Group. The Caribou deposit is within
volcano-sedimentary rocks of the Spruce Lake Formation while the Murray
Brook and Restigouche deposits are within sedimentary rocks of the
Mount Britain Formation. According to geological and geophysical data,
the presence of favourable stratigraphy and some untested EM anomalies
shows that the Camel Back block still merits further exploration for
discovering new deposits.
About VM Canada (Votorantim Metals Canada Inc.)
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metais, a
company that is part of the Votorantim Group, that was founded in
Brazil in 1918 and now operates in twenty countries and has over
sixty-five thousand employees. Votorantim Metais is the largest
electrolytic-nickel producer in Latin America and one of the world's
leaders in the production of zinc, aluminium and steel.
About El Niño Ventures Inc.
El Niño Ventures Inc. is a mineral exploration company focused on
base-metal exploration and development internationally. Currently the
company is focused on developing its Canadain and African projects:
1) Murray Brook Project: Under Votoratim's Option and Joint Venture Agreement with Murray Brook
Minerals and Murray Brook Resources, Votorantim can earn a 50% interst
in the Properties, by funding $2,250,000 in exploration expenditures
and making payments totalling $300,000 over a three year priod
commencing November 1, 2010. Votorantim can earn an additional 20%
interest in the Properties by funding an additional $2,250,000 in
exploration expenditures over an additional two year period.
2) Bathurst Mining Camp Project: Consists of an initial 4,712 claims in tri-party agreement with Xstrata
& VM Canada 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.
3) Kasala Project, DRC: El Niño Ventures is also focused on a copper project in the Democratic
Republic of Congo. The Kasala discovery is the first green-fields
copper find in the last 10 years in the Central African Copper Belt.
The company is also aggressively negotiating to acquire new projects to add to its current portfolio.
Harry Barr, Chairman & Acting CEO
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.
Note: 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
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3