TORONTO, Jan. 23, 2013 /CNW/ - MillenMin Ventures Inc. (TSX-V: MVM) ( " MillenMin " or the "Company") is pleased to report drill assay results from the 2012 drilling program (the "Drilling Program") recently completed on its Windpass gold property (the "Property") situated 10 Km east of Little Fort in Central British Columbia, Canada.
As previously described in MillenMin's news release on October 23, 2012, the Drilling Program consisted of 4 diamond drillholes (Wp12-2 to Wp12-7) totaling 910 meters designed to test the geophysical (magnetic and electro-magnetic) anomalies identified by earlier survey work. This drilling program was outlined in Phase I work program recommended by Norm Tribe, P. Eng., in his April 2012- NI43-101 report entitled "Windpass Gold Property Evaluation Report" which is available on SEDAR at www.sedar.com.
|The drilling results (at a cut-off grade of 0.50 g/t Au) are summarized in the following table.|
|Hole No.||ft (m)||ft (m)||ft (m)||(g/t Au)|
|Wp12-2||810.0 (246.89)||811.5 (247.35)||1.5 (0.46)||0.74|
|Wp12-4||208.0 (63.40)||213.0 (64.92)||5.0 (1.52)||0.79|
|359.0 (109.42)||361.0 (110.03)||2.0 (0.61)||2.95|
|including||360.0 (109.73)||360.5 (109.88)||0.5 (0.15)||4.75|
|Wp12-5||37.0 (11.28)||42.0 (12.80)||5.0 (1.52)||2.01|
|265.0 (80.77)||270.0 (82.29)||5.0 (1.52)||3.34|
|340.0 (103.63)||345.0 (105.15)||5.0 (1.52)||0.58|
|370.0 (112.78)||375.0 (114.30)||5.0 (1.52)||1.30|
|515.0 (156.97)||520.0 (158.49)||5.0 (1.52)||1.17|
|670.0 (204.22)||680.0 (207.26)||10.0 (3.04)||1.18|
|Wp12-7||No intercepts, and no assay results|
(1) The intervals approximate true mineralization widths as the drillholes were drilled normal to the plane of the mineralization zones.
These results appear to indicate several intercepts of the vein structure-associated gold mineralization. The Company will review these results in conjunction with the existing data on the Property to decide on the next step for the Property.
The Company's CEO, Shunyi Yao, is pleased with the results of the 2012 drilling program at the Property. "The success of this program adds credence to the story that additional gold mineralization exists on the Property," he said.
The Drilling Program was supervised by Norm Tribe, P. Eng., a consultant to MillenMin and the qualified person as defined by NI 43-101. A total of 209 core samples were split and placed in sealed bags. The samples were taken from NQ core with one half sent to ALS Minerals in North Vancouver for assaying and the other half retained for future reference. ALS Minerals is an ISO 9001:2000 certified laboratory. All samples were assayed using industry-standard assay techniques for gold analyzed by a standard 30-gram fire assay with atomic absorption finish and/or Au screen metallic fire assay and 33 elements by ICP-AES (inductively coupled plasma - atomic emission spectrometry).
The technical information in this news release has been reviewed and approved by John H. Paterson, M.Sc., P. Eng., a director of MillenMin, and the qualified person as defined by NI 43-101.
MillenMin is a Canadian company engaged in the acquisition, exploration and development of mineral properties in Canada and intends to deliver value through exploration activities. The Company has completed its 2012 drilling program on its Windpass gold property situated at Central British Columbia, Canada. Pursuant to the option agreement dated March 7, 2012 with Nevada Clean Magnesium Inc. ("Nevada CMI"), MillenMin has been granted the exclusive right and option to acquire an undivided 70% interest in the Property by paying an aggregate of $120,000 to Nevada CMI, incurring $750,000 aggregate exploration expenditures on the Property and issuing an aggregate of 400,000 common shares in the capital of MillenMin to Nevada CMI over a period of four years.
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This press release may include forward-looking information within the meaning of applicable securities laws including information concerning the business and future results of the Corporation. Any such forward-looking statements are subject to risks and uncertainties. Additional information on these and other potential factors that could affect the Company's actual results, performance or achievements are detailed in disclosure documents filed from time to time with the applicable securities regulatory authorities. The Company disclaims any obligation to update or revise any forward-looking information or statements except as may be required under the applicable laws.
SOURCE: MillenMin Ventures Inc.
For further information:
Yunkai (Kent) Cai, President, Secretary and Director, Telephone: (416) 366-1888, [email protected].