Nortec Minerals Posts Very Thick Gold Intercepts at Marttalanniemi Project Including 87.4 Metres of 0.90 gram/tonne Gold

March 31, 2011

 

In a release out towards the end of trading yesterday, Nortec Minerals (TSX-V: NVT and OTC: NMNZF) posted some very thick gold intercepts from their Marttalanniemi prospect (part of the Seinajoki Gold Project in western Finland) including intercepts of 87.4 metres @ 0.90 g/t Gold from 0.6 metres (Hole MTL10-007) — 99.0 metres @ 0.50 g/t Gold from 12.0 metres (Hole MTL10-001) — 68.5 metres @ 0.58 g/t Gold from 1.5 metres (Hole MTL10-004). These are truly some exceptional drill results and look to be overlooked by the market so far (results like this in Mexico, Nevada or the Yukon would likely send underlying shares skyrocketing). Company geo Mohan Vulimiri is quoted in the release:  “These results show that several sub parallel higher grade shoots associated with mica schists and mica gneisses are present within the TKM Shear Zone which could average out in to wide intersections. This type of mineralization is present and well documented in the Klondike Schist in the Tintina Belt, Yukon. I am confident that with more systematic drilling, potential large gold zones will be defined. The Riukka and Satulinmaki zones in the recently announced Tammela project area also show bonanza gold grades amongst lower grade mineralized zones within similar geological environments.”

This is the third wave of good news from the Nortec camp over the past 45 days – they recently released NI 43-101 mineral estimate numbers from their LK property (also in Finland) as well as the fact that they recently announced their 100% owned Tammela project (Finland), which already hosts a very respectable lithium deposit has potential for a good sized gold discovery as well.

The LK NI 43-101 was just posted to SEDAR last week and a quick review of that report outlines total in-situ values (indicated and inferred categories) totaling roughly: 98,000 oz gold; 152,500 oz platinum; 438,500 oz palladium, 68,000 tonnes copper and 44,000 tonnes nickel, resulting in a total in-ground metal value of $2.25 billion (at $1,400 gold, $1,700 platinum, $750 palladium, $4 copper and $10 nickel). Applying 85% recovery on the precious metals and 90% on the copper and 45% on the nickel (our estimates for illustration purposes only) yields total metal value of around $1.56 billion and using a very rough short cut method of valuing in-ground assets at 3 to 5% – this could add as much as $78.2 million to Nortec’s current market value for this project alone  – which is only $32.5 million at this time) and the upside exploration potential could yield 2 to 3 times this current resource as the deposit remains open along strike and to depth along with additional exploration targets that remain to be drill tested.

So in other words, while the market is looking the other way, Nortec Minerals is quickly establishing a portfolio of what look to be material gold properties in Finland, which just happens to be one of the top mining regions in the world. With much on the go in Finland, it’s been easy to overlook the Company’s efforts to reestablish their presence in Ecuador – a region that the Company has made significant progress over the last six months by virtue of spearheading a new “working relationship” paradigm for foreign mining companies to operate in a way that is more equitable to all parties involved. If Nortec is successful in bringing to light significant new opportunities from their efforts in Ecuador, we could be in for another round of meaningful news from this underappreciated junior miner.

eResearch recently updated research on the Company with a $0.30 target which came out before the Marttalanniemi news release, so we can only expect that there will be a future report forthcoming that will incorporate these results and we see good days ahead for Nortec sharesholders as they continue to expand on these recent foundation building events.

Here is link to that report: http://nortecminerals.com/files/eresearch-update-report.pdf

and a link to Nortec’s most recent Corporate Presentation: http://nortecminerals.com/files/nmcorp-presentation-mar2011.pdf


Andover Hires General Manager for SUN Project

March 31, 2011

Andover Ventures (OTC Other: AOVTF; TSX-V: AOX) has hired Bradley C. Peek, B.Sc., Geology, M.Sc., Geology as General Manager for the SUN project in Alaska.  Mr. Peek has extensive industry experience with multiple mining companies since his graduation with a B.Sc., Geology from the University of Nebraska followed by his M.Sc., Geology from the University of Alaska. Mr. Peek has also completed a Hazardous Waste Management program at Colorado School of Mines.

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Golden Phoenix to Discuss 2011 Exploration and Production Milestones at Chicago Resource Expo

March 31, 2011

Golden Phoenix Minerals (OTCBB: GPXM) will discuss the Company’s anticipated 2011 exploration and production milestones on Saturday morning, April 16th, 2011 at the Chicago Resource Expo. The event will take place at the Holiday Inn Convention Center in Rolling Meadows, IL. Registration is free and is open to the general public.

Earlier that week, Golden Phoenix is hosting a private event for institutional investors in the heart of Chicago’s financial district with guest speaker and Golden Phoenix Board member, Clyde Harrison. Mr. Harrison is Carl Icahn’s former General Partner and a veteran of 25 years on the Options Exchange Floor. His topic is “Raw Materials: Boom or Bust.”

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Comstock Mining Announces 2010 Results

March 31, 2011

Comstock Mining (OTCBB: LODE) releases certain unaudited financial results for the year ended December 31, 2010, as part of which, the Company is hosting a conference call at 2:00pm EST / 11:00am PST.

Today’s call will be based in large part on the Company’s press release from today, which discusses in detail (i) the Company’s 2010 full year results; (ii) exploration and development activities; (iii) production expectations; and (iv) a general corporate update.

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Biomoda Collaborates with University of Texas in San Antonio

March 31, 2011

Biomoda (OTCBB: BMOD) has entered into a Memorandum of Understanding with the University of Texas Health Science Center at San Antonio to collaborate on research to optimize the CyPath® diagnostic assay for lung cancer.

According to John Cousins, President of Biomoda, “Our research will progress more quickly and our science will be strengthened by this initiative.  Biomoda is focused on optimization of its assay to include automating sample reading through flow cytometry and refining the use of fluorescent microscopy to identify cancer cell types and pre-cancerous cells. The Health Science Center not only will greatly assist us with the science, but we believe the partnership has the potential to create jobs and economic growth for the region.”

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Constantine Metals Adds Second Drill at Munro-Croesus Gold Project

March 31, 2011

Constantine Metals (OTC Other: CNSNF; TSX-V: CEM) has added a second drill on its Munro-Croesus Gold Project located 75 kilometers east of Timmins, Ontario.  The Munro-Croesus property includes the formerly producing Croesus mine (1914-1933), which according to the 60th Annual Report of the Ontario Department of Mines, Geology of Munro Township, J. Satterly vol. LX, Part VIII, 1951, has produced some of the highest grade gold ever mined in Ontario.  To this end, five Croesus gold specimens held by the Royal Ontario Museum weigh 85 pounds collectively and contain 480.7 ounces of gold or 11,310 ounces gold per short ton (387,771 grams per tonne).

The second drill will test a shallow vein target within 75 meters of surface with multiple holes. The new vein structure is about 25 meters west and below the Croesus shaft vein and appears to be approximately parallel to the Croesus vein, but does not extend to surface because it is truncated by a westerly dipping northwest fault structure. Meanwhile, the first drill will continue to target the immediate Croesus mine area at depth and for faulted extensions of the exceptionally high-grade vein that was originally mined. The initial 10 to 20 meter pattern of drill holes is testing for bonanza grade chutes within a newly identified vein structure at a vertical depth of 200 to 250 meters from surface and intersected in previous drilling by Constantine (see news release dated April 9, 2009). This vein zone occurs within the same distinct sulphide-carbon rich host rock sequence and shares the same broad gray-zone alteration with associated arsenopyrite mineralization as the historically mined vein. The current drill program that started March 8th 2011, is expected to expand beyond the minimum 3000 meters originally contemplated. Samples from the first drill holes have been delivered to the ALS Chemex prep lab in Timmins for processing and analyses.

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Laurion Commences Drill Program on High Priority Targets at Sturgeon River

March 31, 2011

Laurion Mineral Exploration (OTCQX: LMEFF; TSX-V: LME) has completed an induced polarization (“IP”) survey on the Ahki Zone and the Asha Zone on its Sturgeon River Property, Beardmore, Ontario.  Drilling has commenced on the IP anomalies defined by the survey in the Ahki Zone.

Results from the IP survey on the Ahki Zone indicated multiple chargeability anomalies.  The A2 gold zone has previously been drilled by Placer Dome (1988) and zones of significant sphalerite and chalcopyrite over 900 meters of strike were recorded. The strongest IP chargeability anomalies were not drilled, but are being tested in the current drill program. In addition, 3 drill holes will test base metal mineralization in the area of the A6 vein, which during previous prospecting and mapping in 2010, returned a grab assay of 6.76 g/t Au, 10.2% Zn, 0.70% Cu and 8.5 g/t Ag.  The initial drilling program on the Ahki Zone has nine holes planned across 1,300 meters. It is expected that this first phase of drilling will take 3 weeks to complete, although spring thaw may require a 2 week break during the program, extending the timeline to completion. This program will be followed by drilling of identified targets on the Asha Zone.

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