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Mink Ventures Reports Positive Base Metal Assays From Sampling Program at Warren Copper Nickel Cobalt Project, Timmins, Ontario
Mink Ventures Corporation
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Mink Ventures Corporation
Mink Ventures Corporation

TORONTO, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Mink Ventures Corporation (TSXV:MINK) (“MINK” or the "Company") today announced positive base metal assays from a summer sampling program at its Warren Ni Cu Co project. The Warren property covers 1,130 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario. (See Figure 1.)

The valuable information obtained in the recent sampling efforts has been incorporated into the GIS data base in order to accurately plan and orient the second phase of drilling at Warren in the highest priority areas. Mink plans to begin a diamond drill program at Warren after freeze up (~December 2024) when the Company can most cost effectively test several zones concurrently.

The prospecting program was focused on a series of historical occurrences designated the Shaft Zone, SW Zone, D Zone, and North Zone. The Shaft Zone, SW, and D Zone are associated with a 1.5 km geophysical trend. The North Zone, a separate occurrence, was also evaluated in the NE portion of the patents.

HIGHLIGHTS:

  • Prospecting, sampling, and a geological evaluation of Shaft, SW, D, and North Zones was completed during summer 2024 to accurately locate the most prospective zones of mineralization for drill testing. Thirty-eight (38) reference samples were taken.

  • Sampling confirmed the presence of extensive zones of mineralization with excellent nickel grades and significant copper, and cobalt grades. (See Table 1 and Figure 2.)

  • North Zone: The North Zone, located in the northeast section of the Warren Patents, has emerged as the highest priority drill target from the summer program. The North Zone lies on the flank of large magnetic high and is associated with an IP response. Within the center of the magnetic high are a series of broad IP anomalies. These IP anomalies are untested and represent excellent drill targets along with the North Zone. Very limited historical work has been carried out other than a single blasted pit exposing considerable massive sulphides (see Photo 1). The sulphide zone is hosted in a gabbroic intrusive. The more significant Ni values from the North Zone massive sulphide ranged from 0.597% to 0.967% Ni in association with cobalt values ranging from 0.0573% to 0.0738% Co. The best copper value returned 0.515% Cu.

  • Shaft Zone: This is also a high priority drill target, along a 1.5 km long geophysical anomaly that is coincident with significant mineralization. Semi massive sulphide and disseminated sulphide was noted in samples in a gabbro host rock. The main sulphide mineralization observed was pyrrhotite and some chalcopyrite. Significant samples from Shaft Zone returned copper values ranging from 0.365% to 0.773% copper and nickel values ranged from 0.341% to 0.461% nickel. Cobalt values ranged from 0.0339% to 0.461% cobalt. The Shaft Zone is coincident with a 130-meter-wide IP anomaly over 100 meters of strike length in the immediate vicinity of the shaft. The Shaft Zone is also associated with a large “bull’s eye” magnetic response over the shaft collar and the southern portion of the IP target.

  • SW Zone: The SW Zone is located approximately 220 meters north of the Shaft Zone and mineralization consists of semi massive and disseminated pyrrhotite and chalcopyrite hosted in a gabbro intrusive. The best nickel values obtained were 0.354% to 0.401% Ni. Cobalt values ranged from 0.0392% to 0.0475% Co. The best copper value returned 0.579% Cu. The SW Zone trench is coincident with a broad 130-meter-wide IP anomaly, the same IP response which extends 200 meters northward from the Shaft Zone IP anomaly. Approximately 50 meters west of the SW Zone trench is the best ground electromagnetic (EM) response on the property. The Company intends to drill test these EM and IP targets along with the known mineralized SW Zone simultaneously.

  • D Zone: The D Zone, located approximately 150 meters north of the SW Zone, is associated with a broad IP response similar to the SW Zone IP anomaly, and the strike extension of those found at the Shaft Zone and SW Zone. The primary reason for re-examination of this area was the significant amount of sulphide mineralization noted in outcrop and the presence of a documented historical channel sample with a reported to grade of 0.5% Ni over 30 feet. (C. Mackenzie Consulting Geologist, 1990). Recent sampling returned weakly anomalous nickel and copper grades. Significant oxidation was noted, since the original work was completed some 35+ years ago, and consequently it was difficult to obtain a representative sample. Further work in this area is warranted.

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