Nortec Announces Further Excellent Results From the Kaukua Property, Finland
Tue Nov 25, 1:40 PMVANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2008) - Nortec Ventures Corp. (TSX VENTURE: NVT.V), ("Nortec" or the "Company"), is pleased to announce further results from the Phase III diamond drilling program on the Kaukua Palladium-Platinum-Gold ("PGE+Au") - Copper ("Cu") - Nickel ("Ni") Project located in central Northeastern Finland.
Highlights include:- - 11.50m @ 2.95g/t PGE+Au from 218.00m (Hole Kau08-026) - 58.00m @ 1.28g/t PGE+Au from 140.90m (Hole Kau08-020) - 70.80m @ 1.00g/t PGE+Au from 150.20m (Hole Kau08-023) - 44.70m @ 1.06g/t PGE+Au from 163.00m (Hole Kau08-024) The Company has a 70% interest with an option to increase to 80% interest in the Kaukua Project from Akkerman Exploration B.V. ("AEbv"), a private company based in the Netherlands. Drill program A total of 38 holes have been drilled at Kaukua by Nortec in 2007 and 2008. The Phase III drilling program was completed last week for a total of 24 holes (Kau08-015 to Kau08-038) totalling 5,992 metres ("m"). Based on the excellent results from the Phase I and II drilling program, the Phase III drilling program was designed to extend the trace of known mineralization a further 200m along strike and 200m down-dip. As part of the Phase III drilling program, three holes were also drilled to test the geophysical chargeability anomaly to the south of the main zone recently identified in the 2008 3D-Induced Polarization ("3D-IP") survey. Drilling to date suggests that the mineralization appears to be coincident with the chargeability anomalies. Drill hole locations are shown in Figure 1. Best Intercepts Drill results have been received for PGE+Au, Cu and Ni for holes Kau08-019 ("Hole 19"), Kau08-020 ("Hole 20"), Kau08-021/Kau08-022 ("Hole21" and "Hole 22"), Kau08-023 ("Hole 23"), Kau08-024 ("Hole 24"), Kau08-025 ("Hole 25") and Kau08-026 ("Hole 26"). Drill results are shown below in Table 1 (PGE+Au) and Table 2 (Cu and Ni).
TABLE 1: Best Intercepts of PGE + Au from Phase III drilling at Kaukua
----------------------------------------------------------------------------
From To Interval Gold Palladium Platinum PGE + Gold
Hole_ID (m) (m) (m) g/t g/t g/t g/t
----------------------------------------------------------------------------
Kau08-015# 79.00 99.00 20.00 0.11 0.82 0.30 1.12
----- ----- ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Including 80.00 88.00 8.00 0.15 1.30 0.47 1.77
----------------------------------------------------------------------------
Kau08-016# 50.00 101.00 51.00 0.37 0.37 0.13 0.54
----- ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Including 25.00 33.00 8.00 0.39 0.50 0.20 0.74
----------------------------------------------------------------------------
Including 50.00 61.00 11.00 0.69 0.49 0.17 0.73
----------------------------------------------------------------------------
Including 75.00 83.00 8.00 0.50 0.74 0.27 1.06
----------------------------------------------------------------------------
Including 100.00 101.00 1.00 0.83 1.05 0.33 1.46
----------------------------------------------------------------------------
Kau08-017# 90.30 121.00 30.70 0.54 0.72 0.24 1.02
----- ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Including 90.30 95.00 4.70 0.92 1.34 0.46 1.90
----------------------------------------------------------------------------
AND 166.00 167.00 1.00 0.13 1.36 0.36 1.84
----------------------------------------------------------------------------
Kau08-018# 153.00 218.00 65.00 0.18 1.04 0.35 1.57
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Including 153.00 180.55 27.55 0.30 1.11 0.37 1.78
----------------------------------------------------------------------------
Including 188.00 218.00 30.00 0.11 1.22 0.41 1.75
----------------------------------------------------------------------------
WITH 191.10 199.60 8.50 0.18 1.66 0.57 2.42
----------------------------------------------------------------------------
Kau08-019 155.10 158.80 3.70 0.01 0.89 0.29 1.19
----------------------------------------------------------------------------
Kau08-019 167.80 177.20 9.40 0.09 1.12 0.34 1.55
----------------------------------------------------------------------------
Kau08-019 182.75 193.65 10.90 0.04 0.59 0.17 0.80
----------------------------------------------------------------------------
Kau08-020 140.90 198.90 58.00 0.09 0.91 0.29 1.28
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
including 168.55 185.00 16.45 0.13 1.42 0.45 2.00
----------------------------------------------------------------------------
Kau08-020 215.00 218.00 3.00 0.15 1.20 0.36 1.72
----------------------------------------------------------------------------
Kau08-021(1) NSI
----------------------------------------------------------------------------
Kau08-022 56.80 60.10 3.30 0.14 0.34 0.13 0.61
----------------------------------------------------------------------------
Kau08-023 97.90 100.35 2.45 0.11 0.63 0.19 0.93
----------------------------------------------------------------------------
Kau08-023 150.20 221.00 70.80 0.06 0.73 0.21 1.00
------ ------ ----- ---- ---- ---- ----
----------------------------------------------------------------------------
including 180.45 193.00 12.55 0.12 1.41 0.45 1.98
----------------------------------------------------------------------------
including 212.50 217.60 5.10 0.06 2.20 0.47 2.73
----------------------------------------------------------------------------
Kau08-024 163.00 207.70 44.70 0.32 0.56 0.18 1.06
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
including 193.70 202.00 8.30 1.39 0.74 0.20 2.33
----------------------------------------------------------------------------
Kau08-024 224.00 225.00 1.00 0.01 0.99 0.33 1.33
----------------------------------------------------------------------------
Kau08-025 138.95 139.85 0.90 0.02 1.09 0.37 1.48
----------------------------------------------------------------------------
Kau08-025 149.50 171.90 22.40 0.08 0.61 0.21 0.90
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Kau08-025 206.10 212.45 6.35 0.04 0.79 0.26 1.09
----------------------------------------------------------------------------
Kau08-026 169.10 229.50 60.40 0.06 0.71 0.25 1.02
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
including 218.00 229.50 11.50 0.18 2.01 0.76 2.95
----------------------------------------------------------------------------
TABLE 2: Best Intercepts of base metals (Cu and Ni) from Phase III drilling
at Kaukua
----------------------------------------------------------------------------
From To Interval Copper Copper Nickel Nickel
Hole_ID (m) (m) (m) % lbs/ton % lbs/ton
----------------------------------------------------------------------------
Kau08-015# 79.00 99.00 20.00 0.17 3.79 0.11 2.37
----- ----- ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Including 80.00 88.00 8.00 0.26 5.75 0.17 3.79
----------------------------------------------------------------------------
Kau08-016# 50.00 101.00 51.00 0.11 2.33 0.09 2.02
----- ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Including 25.00 33.00 8.00 0.12 2.58 0.12 2.64
----------------------------------------------------------------------------
Including 50.00 61.00 11.00 0.16 3.60 0.10 2.15
----------------------------------------------------------------------------
Including 75.00 83.00 8.00 0.12 2.74 0.14 3.09
----------------------------------------------------------------------------
Including 100.00 101.00 1.00 0.31 6.81 0.39 8.66
----------------------------------------------------------------------------
Kau08-017# 90.30 121.00 30.70 0.16 3.45 0.11 2.43
----- ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Including 90.30 95.00 4.70 0.25 5.60 0.16 3.63
----------------------------------------------------------------------------
AND 166.00 167.00 1.00 0.20 4.32 0.55 12.08
----------------------------------------------------------------------------
Kau08-018# 153.00 218.00 65.00 0.18 3.90 0.10 2.18
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Including 153.00 180.55 27.55 0.19 4.26 0.12 2.68
----------------------------------------------------------------------------
Including 188.00 218.00 30.00 0.20 4.49 0.09 2.08
----------------------------------------------------------------------------
WITH 191.10 199.60 8.50 0.27 5.88 0.12 2.69
----------------------------------------------------------------------------
Kau08-019 155.10 158.80 3.70 0.02 0.53 0.12 2.60
----------------------------------------------------------------------------
Kau08-019 167.80 177.20 9.40 0.14 3.16 0.13 2.78
----------------------------------------------------------------------------
Kau08-019 182.75 193.65 10.90 0.07 1.62 0.06 1.39
----------------------------------------------------------------------------
Kau08-020 140.90 198.90 58.00 0.17 3.76 0.13 2.77
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
including 168.55 185.00 16.45 0.25 5.61 0.17 3.79
----------------------------------------------------------------------------
Kau08-020 215.00 218.00 3.00 0.24 5.31 0.09 2.07
----------------------------------------------------------------------------
Kau08-021(1) NSI
----------------------------------------------------------------------------
Kau08-022 56.80 60.10 3.30 0.13 2.81 0.09 1.92
----------------------------------------------------------------------------
Kau08-023 97.90 100.35 2.45 0.18 3.93 0.15 3.22
----------------------------------------------------------------------------
Kau08-023 150.20 221.00 70.80 0.14 2.98 0.10 2.21
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
including 180.45 193.00 12.55 0.26 5.64 0.22 4.77
----------------------------------------------------------------------------
including 212.50 217.60 5.10 0.30 6.52 0.12 2.54
----------------------------------------------------------------------------
Kau08-024 163.00 207.70 44.70 0.22 4.88 0.16 3.44
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
including 193.70 202.00 8.30 0.18 3.97 0.20 4.37
----------------------------------------------------------------------------
Kau08-024 224.00 225.00 1.00 0.01 0.32 0.01 0.17
----------------------------------------------------------------------------
Kau08-025 138.95 139.85 0.90 0.09 2.00 0.20 4.30
----------------------------------------------------------------------------
Kau08-025 149.50 171.90 22.40 0.15 3.42 0.09 2.08
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
Kau08-025 206.10 212.45 6.35 0.12 2.58 0.11 2.47
----------------------------------------------------------------------------
Kau08-026 169.10 229.50 60.40 0.17 3.71 0.12 2.67
------ ------ ----- ---- ---- ---- -----
----------------------------------------------------------------------------
including 218.00 229.50 11.50 0.35 7.69 0.19 4.20
----------------------------------------------------------------------------
NOTES:
# = holes previously released; g/t - grams/tonne; ppm - part per
million; lower cut-off grade = 0.5g/t PGE+Au; 1 pound = 454 grams;
Nickel results are total Nickel contained in both sulphides and
silicates; Based on current geological interpretation results are
true widths;
(1) = Drill hole Kau08-021 was abandoned at 41m due to poor ground
conditions.
Results Explained PGE+Au mineralization was intersected in Holes 19, 20, 22, 23, 24, 25, and 26. The average width of these drill hole intercepts is approximately 42.5m with a weighted average grade of 1.08g/t PGE+Au, reflecting an increase in thickness of the mineralization down-dip. These holes, covering a strike of 300m, confirmed the continuity of the PGE+Au mineralization a further 80m down-dip from the mineralization encountered in drill holes Kau07-001 to Kau08-018. Section 3553500 East ("3500E") and 3553750 East ("3750E") are shown in Figures 2 and 3. Hole 26 was collared behind drill hole Kau08-018 ("Hole 18"), along Section 3553700E ("3700E") to test continuation of the mineralization 80m down-dip from the mineralization encountered in Hole 18 (Figure 4). Although the weighted average grade is lower, the wide intercept of 60.4m is approximately the same thickness as in Hole 18. More importantly, at the base of this wide zone, there is a high grade intercept of 11.50m @ 2.95g/t PGE+Au. The mineralization appears as disseminations and aggregates within the augen pyroxenite with occasional granodiorite xenoliths. Holes 21 and 22 are situated in the eastern part of the project area. Hole 21 was abandoned due to poor ground conditions. Both holes were drilled to the northeast (azimuth 070 degrees) to test the geological interpretation that the layered sequence flexed to the south around the Section 3750E. Based on the geological logging and supported by the lower grade results, Hole 22 drilled above and away from the main mineralized sequence. This is supported by the geology and analytical results encountered in the other holes drilled in the eastern part of the project (Kau07-006 and Kau08-016). PGE and Gold mineralization at Kaukua is intimately associated with significant Nickel and Copper values and is predominantly hosted in the lower pyroxenite, peridotite and gabbronorite phases of the Kaukua block of the Koillismaa intrusive complex near the footwall contacts with the Precambrian basement K-feldspar rich and siliceous granites. Nortec is encouraged by the consistency in both grade and width from all the drilling results to date. Drilling continues to delineate the mineralized zone beyond 600m in strike and is open to the west. There is down-dip continuity to 350m from near-surface, which is open to the south and southwest. Based on these latest results, the average thickness of the mineralized zone drilled to date, has now increased to approximately 36m in width with a weighted average grade of 1.20g/t PGE+Au. The mineralized zone also contains higher grade sections of greater than 2.0g/t PGE+Au, averaging between 10 and 15m. In house resource estimates are constantly being updated. The Kaukua Project continues to show the potential for hosting significant PGE+Au, Cu and Ni mineralization. Exploration Drilling Three deep holes (Kau08-035, -036 and -038) were drilled 200m apart covering the 800m x 200m west-northwest-east-southeast ("WNW-ESE") trending chargeability anomaly located 500m south of the main area of drilling at Kaukua (Figure 1). All three holes intersected 2 distinct sulphide bearing pyroxenite zones. The upper zone is situated between 75 and 150m below surface and most likely explains the 3D-IP chargeability anomaly. A lower zone was also encountered from 320m and continues to end of hole. Should the laboratory results from these three holes be favourable and potentially mirror existing weighted average results from Kaukua, then the resource potential of the Kaukua Project could easily double. Samples have been submitted to Labtium and have been placed on priority. Results are awaited around the middle of January. Further Claim Applications Applications for a further 1,300 hectares in claims have been submitted to the Finland Ministry of Mines. The claims are situated around both, the existing Kaukua group targeting potential extensions or repetitions of favourable host rocks for PGE-Au-Cu-Ni mineralization, and over the Lipeavaara Block to the south of Kaukua that has a similar geological setting to the Kaukua Block with multiple mafic to ultramafic layered intrusions. Once the claims have been granted, the company will commission a follow-up of 3D-IP geophysical survey to identify similar chargeability anomalies to those found at Kaukua that have coincident PGE-Au-Cu-Ni mineralization. Laboratory and Analyses The analyses were performed by Labtium Oy, a Finnish Government company based in Espoo and Rovaniemi, Finland. The analyses continue to take 4 to 6 weeks to be completed. The laboratory moved to their new premises in Rovaniemi in early October. Following rigorous QAQC protocols, results are now being issued by Labtium. The Company continues to raise the turn-around time issue with Labtium and they continue to assure the Company that the Kaukua samples will be processed as quickly as possible and will make every effort to reduce the turn-around time to less than 4 weeks. The laboratory methods used for the analyses are as follows: 10 Drying of sample at 70 degrees Celsius 31 Fine crushing greater than 70% less than 2 mm with Cr-steel jaws 35 Separate splitting of sample 50 Pulverizing in hardened steel bowl (max. 4 kg) 210 Hydrogen peroxide and ammonium citrate leach 510 Aqua regia leach at 90 degrees Celsius 704 Lead fire assay pre-concentration, 25g sub-sample 720 Sodium peroxide fusion, 0.2g sub-sample + 240P Multi-element analysis by ICP-AES + 510P Multi-element analysis by ICP-AES + 704P Determination of Au, Pd, Pt with ICP-AES-techniqueThe 240P method is a selective leach dissolving Nickel from sulphide minerals, e.g., pentlandite, pyrrhotite and millerite. Analyses from Drill Hole Kau07-008 shows sulphide Nickel values are approximately 0.34 times total Nickel content in the sample. Every tenth sample from all Phase III drillholes have been analyzed by this method to determine the Nickel content associated with sulphides. For further information regarding all drill results to date from the Kaukua project please refer to previous news releases available on Nortec's website at www.nortecventures.com. Mohan R. Vulimiri, M.Sc, P.Geo., President, CEO and Director of Nortec; Mr. Jan H. Akkerman, Managing Director of AEbv and, Ian F. Laurent MEconGeol MAIG RPGeo, Vice President - Exploration for Nortec, are the persons responsible for initiating and guiding the work programs on the Kaukua Project. Mohan Vulimiri is the Qualified Person responsible for the contents of this press release. Other news - Appointment The Board of Directors of Nortec approved the appointment of Ian F. Laurent, current Vice-President - Exploration, as Executive Vice-President of the Company. Mr Laurent will participate in the management and corporate decisions of the Company. To view a map and figures pertaining to the Kaukua Project click the following link: http://media3.marketwire.com/docs/KaukuaProperty.pdf About Nortec Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company is continuing to evaluate other potential acquisitions. Information on Nortec's activities can be referred to on the Company's website, www.nortecventures.com. On behalf of the Board of Directors, NORTEC VENTURES CORP. Mohan R. Vulimiri, President & CEO The statements made in this Press Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.ContactsMohan R. Vulimiri
Nortec Ventures Corp.
President & CEO
(604) 717-6426
(604) 683-9648 (FAX)
Website: www.nortecventures.com
136.40 (1.48%)