March 28, 2012
Nortec Minerals Corp. (TSX-V: NVT; OTC: NMNZF) announced today the signing of drill contracts for bedrock and lithogeochemical sampling to locate higher grade gold mineralization, on the Seinajoki gold project. The drilling is expected to start in the beginning of April, 2012.
The Seinajoki Gold Project is located in southwestern Finland and is made up of over 5,500 hectares of contiguous claims covering three prospect areas, Marttalanniemi prospect (TKM Shear Zone); the Sikakangas-Tulisilma district and the Ylijoki prospect. The gold mineralization is also associated with the Paleo-protererozoic Hame Schist Belt
In 2010, Nortec drilled 9 holes, for 750 metres, on the Marttalanniemi prospect. The drill holes returned significant results (Nortec press release dated March 30, 2011) with the highlights shown below:
-87.4 metres @ 0.90 g/t Gold from 0.6 metres (Hole MTL10-007), including 4 metres @ 13.52 g/t Gold from 52 metres
-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)
March 12, 2012
Nortec Minerals (OTC Other: NMNZF; TSX-V: NVT) continues to intercept significant results from the on-going Phase V drilling program on the LK palladium-platinum-gold-copper-nickel project in north central Finland, including:
- 25.0 metres @ 0.72g/t PGE+Au; 0.23% Cu; 0.18% Ni from 66m (Hole HAU11-010)
- 28.0 metres @ 0.66g/t PGE+Au; 0.23% Cu; 0.18% Ni from 56m (Hole HAU11-008) including 5.0 metres @ 1.03g/t PGE+Au; 0.28% Cu; 0.30% Ni from 57m
January 31, 2012
Nortec Minerals (OTC Other: NMNZF; TSX-V: NVT) recently optioned the LK palladium-platinum-gold-copper-nickel project to Finore Mining Corp., which can earn an 80% interest by making payments of $10.5 million and spending $10 million over 3 years. Nortec and Finore have released initial results from the Phase V drill program, highlights of which include:
- 44.0 metres @ 0.80g/t PGE+Au; 0.28% Cu; 0.19% Ni from 58m (Hole HAU11-002), including 13.0 metres @ 1.15g/t PGE+Au; 0.38% Cu; 0.27% Ni from 84m
- 5.0 metres @ 1.05g/t PGE+Au; 0.33% Cu; 0.24% Ni from 114m (Hole HAU11-004)
These drill results extend the known palladium-platinum-gold-copper-nickel (“PGE+Au-Cu-Ni”) mineralization on the Haukiaho Target (“Haukiaho”), situated in the southern part of the LK Project. Drilling began in November 2011 focusing on the central-western mineralization at Haukiaho, known as the Torkoaho Zone. To date, a total of 12 holes have been geologically and geotechnically logged with zones of potential mineralization selected for sampling and assaying.
January 30, 2012
Nortec Minerals Corp. (TSX-V: NVT-V: OTC: NMNZF) announced today that the Company signed a Memorandum of Understanding (“MOU”) on January 24, 2012, with Akkerman Exploration B.V. (“AEbv”) to earn an undivided 80% interest in the Karhujupukka Iron-Titanium-Vanadium (“Fe-Ti-V”) Palladium-Platinum-Gold (“PGE-Au”) Property, located in Finland. Nortec will fund and incur Exploration Expenditures of EUR1,500,000 over an Earn-In-Period of four (4) years following the signature of an Option Agreement.
Akkerman has filed an application for 100% of legal and beneficial right, title and interest in and to seven (7) exploration claims (“Karhujupukka Property”) with a combined surface area of approximately 600 hectares. The application was filed with the Finnish Ministry of Labor and the Economy on June 27, 2008.
Nortec will issue to AEbv the following common shares of the Company:
- The date of signature of the Option Agreement: 250,000 common shares;
- The first year anniversary of the Option Agreement: 1,000,000 common shares;
- The second year anniversart of the Option Agreement: 1,500,000 common shares;
- The third year anniversary of the Option Agreement; 2,000,000 common shares.
According to published data (Karvinen, GTK Special Paper 10, 1988), the mineralization contains on average: 40% Fe, 5.5% Ti, 0.3% V, 0.4% Cr, 0.04% Ni and 0.03% Cu and 0.02% Co, 100ppb Pt, 100ppb Pd and 20ppb Au. In addition to these metal values, assay information from the GTK (Geological Survey of Finland) database includes a small number of samples with anomalous nickel and copper values including up to 0.66% copper and 0.12% nickel.
December 22, 2011
Nortec Minerals Corp. (TSX-V: NVT; OTC Other: NMNZF) was written up recently by highly regarded resource newsletter writer Lawrence Roulston in a non-sponsored editorial which highlights several near term value drivers for the junior gold explorer including the recent spin off of their LK project to Finore as well as two highly prospective exploration projects in Finland – Seinajoki and Tammela. LK is a large tonnage (30 million tonnes) PGM (platinum group metals) + gold + base metal project which Finore plans to add considerable tonnage with a large 2012 exploration program. After vending LK for a combination of cash, stock and work commitments totaling just north of $20 million, Nortec retains a 20% stake in this project which could become a very valuable asset on their balance sheet once fully developed. The Company’s Seinajoki and Tammela exploration targets in Finland have already exhibited excellent drill results which Nortec plans to further develop in the first half of 2012.
Here is a brief excerpt from the coverage which sums up the situation nicely: “At the current share price, the company is heavily oversold. With a highly regarded geological team and high quality projects, the share price should rebound fairly quickly. Favorable results from the work planned over the coming months could add enormous value.”
Here is a link to the full report:
October 4, 2011
Nortec Minerals Corp. (TSX-V: NVT and OTC Other: NMNZF) released a corporate update on the Company’s activities today. As per the Company’s recent press releases, the LK palladium-platinum-gold-copper-nickel project, located in North-central Finland was optioned to Finore Mining Corp. (formerly Otterburn Ventures Inc.) to earn an 80% interest by making option payments and work expenditures totalling $20.5 million. Nortec will now concentrate on continuing exploration and, if warranted, developing the Tammela and the Seinajoki projects. Both Tammela and Seinajoki have excellent potential to host large tonnage higher grade gold deposits and pegmatite-hosted Lithium-Tin-Tantalum-Rare Earth zones based on the results obtained to date.
As we look through the names that should rebound well over the next few quarters, Nortec Minerals looks to be in a very good position at this time. With scheduled payments from the vend-in transaction with Finore complete, Nortec looks set up with a healthy balance sheet going forward to further extend gold discoveries at their Tammela and Seinajoki claims (Finland) which they plan to continue drilling this fall for the eventual buildup of NI 43-101 resource estimates. Add to that the extensive drilling campaign at the LK property being financed by Finore and we expect to see plenty of news from the field for this junior gold explorer.
September 14, 2011
Further to the press releases dated August 30 and September 6, 2011, Nortec Minerals Corp. (TSX-V: NVT and OTC: NMNZF) announced this morning that it has received the first option payment consisting of $900,000 cash and $500,000 in shares of Otterburn Ventures Inc. (1,660,408).
The Option and Joint Venture Agreement gives Otterburn the option to earn up to an 80% interest in Nortec’s Lantinen Koillismaa project, a 100 % owned palladium-platinum-gold-copper-nickel property (“LK Project”), located in north central Finland. The LK project comprises of the following target areas (exploration claims and exploration claim applications): Kaukua, Haukiaho, Haukiaho East, Lipeavaara and Murtolampi Targets.