El Nino Ventures Inc. continues to intersect High Grade Zinc, Gold and Silver Over Significant Intervals at Murray Brook Polymetallic Deposit, Bathurst Mining Camp, New Brunswick
- Significant drill results; include:
- 4.66% zinc, 1.55% lead, 1.451 gpt gold and 57.4 gpt silver over 7.05 metres in MB‐2012‐98
- 2.66% zinc, 1.13% lead, 1.05 gpt gold and 56.84 gpt silver over 75.00 metres in MB‐2012‐97
- 1.53% zinc, 0.73% lead, 0.72 gpt gold and 35.71 gpt silver over 111.0 metres in MB‐2012‐91
- 97 holes have been successfully completed for a total of 18,467 metres
- Votorantim and El Nino spent approximately $4.5 million from November 2010 to date
VANCOUVER, June 27, 2012 /CNW/ - El Nino Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; OTCQX:ELNOF Frankfurt: E7Q) is pleased to announce additional high-grade results over significant intervals obtained from holes drilled during its 2012, 18,000 metre drill program at the Murray Brook massive‐sulfide deposit, in the Bathurst Mining Camp of New Brunswick, Canada. The Company has received and confirmed assay results from drill holes MB-2012-90 to MB-2012-101. A complete list of the intercepts from the 2012 drill program is provided in Table 1. The widths of the intercepts are approximate to the true width of the mineralized intercept.
The drill program commenced on February 9, 2012 and to date, 97 holes have been successfully completed for a total of 18,467 metres. The entire drill program consists of 164, vertical drill holes; totalling approximately 28,500 m. Figure 1 illustrates the location of 2012 drill holes.
Discussion:
On the basis of work completed to date, two important observations and conclusions can be made:
- The program was successful in confirming the continuity of the massive sulfide mineralization at the Murray Brook deposit;
- Results of the 2012 drill program have been successful in identifying two distinct massive sulfide zones with different mineralogical characteristics and thickness. Western Zone appears thicker and more Zn-Pb- Ag rich and Eastern Zone is thinner and more Cu-Au rich (Figures 2 and 3) 1 illustrates Murray Brook Massive Sulfide thickness at 10 metre contours.
About 2012-2013 Exploration Program:
A minimum $3 million budget has been proposed for the 2012‐2013 exploration program. The budget includes $2.5 million for diamond drilling work on the Murray Brook deposit and a $500,000 exploration geophysical program on Murray Brook property and the adjacent Camel Back property (Figure 3). The objective of this exploration program is to explore for VMS deposits at depths of up to 200 metres below surface. The Camel Back property is located in the area between the Murray Brook deposit to the west, which is the largest open pittable massive sulfide deposit in the Bathurst Mining Camp (BMC), and the Caribou deposit to the east, which is the second largest deposit in the camp with historic resources of some 65 million tonnes.
2012 Program consists of
- $2.5 million budgeted for drill programs for measured resources
- 18,000 metre drill program began February 2012
- Delineate the outer perimeter of the Murray Brook deposit and advance the resources into the measured (highest confidence) category.
- $0.5 million budgeted for exploration of the Murray Brook Property
- Mapping and prospecting;
- Ground gravity geophysics
- 2000 metres of drilling with bore-hole EM surveys
- Metallurgical studies underway to compliment completion of a planned PEA Study in Q1 2013
The Exploration Agreement
Votorantim is the Operator of the Murray Brook Project. In January 2011, ELN announced that it provided notice to Votorantim to enter into a Participation Agreement on the Murray Brook polymetallic massive sulfide deposit situated in the Bathurst Mining Camp in New Brunswick, Canada. (See news release dated January 20, 2011).
Under Votorantimʹs Option and Joint Venture Agreement with Murray Brook Minerals Inc. and Murray Brook Resources Inc., both privately held companies, Votorantim can earn a 50% interest in the properties by funding $2,250,000 in exploration expenditures and making payments totalling $300,000 over a three year period that commenced November 1, 2010. Votorantim can earn an additional 20% interest in the properties by funding an additional $2,250,000 in exploration expenditures over an additional two year period. ELN has elected to enter into a participation agreement wherein it can earn 50% of Votorantim's interest by paying 50% of the costs incurred by Votorantim in the Option and Joint Venture Agreement.
On May 10, 2012 ELN announced that Murray Brook Minerals Inc. has been given formal notice by ELN and Votorantim Metals Canada ("Votorantim") of a 50% earned interest in the Murray Brook, polymetalic project, Bathurst, New Brunswick. MBM has also been provided with a valid notice that ELN and Votorantim are exercising their option to acquire and become owner of an additional 20% (for a total of 70%) beneficial interest in the Murray Brook mining claims.
Qualified Persons Statement
This news release has been reviewed and approved for technical content by Ali Hassanalizadeh M.Sc. P.Geo a qualified Person under the provisions of National Instrument 43‐101.
Figure 1- Plan view of the Murray Brook polymetallic massive sulfide deposit and drill holes locations
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Figure 2- Cross Section of Murray Brook deposit; looking northeast.
Location of the section is highlighted in the index map at the left top corner
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Figure 3- Plan view of Murray Brook Massive Sulfide thickness 10 metre contours
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Table‐1 Composited drill hole intercepts
| Hole ID | From m | To m | Interval m | Zn % | Pb % | Cu % | Au gpt | Ag gpt |
| MB-2012-98 | 167.00 | 174.05 | 7.05 | 4.66 | 1.55 | 0.29 | 1.45 | 57.38 |
| MB-2012-92 | 208.06 | 210.60 | 2.54 | 2.86 | 1.16 | 0.10 | 0.51 | 39.29 |
| MB-2012-97 | 126.00 | 201.00 | 75.00 | 2.66 | 1.13 | 0.46 | 1.05 | 56.84 |
| MB-2012-101 | 118.00 | 171.72 | 53.72 | 2.36 | 1.07 | 0.49 | 0.95 | 50.36 |
| MB-2012-95 | 153.45 | 156.40 | 2.95 | 2.27 | 0.65 | 0.09 | 0.34 | 19.45 |
| MB-2012-96 | 189.90 | 228.30 | 38.40 | 2.12 | 1.03 | 0.52 | 1.14 | 48.82 |
| MB-2012-99 | 195.90 | 240.50 | 44.60 | 1.92 | 0.90 | 0.93 | 1.73 | 44.95 |
| MB-2012-94 | 118.00 | 196.10 | 78.10 | 1.66 | 0.86 | 0.52 | 1.04 | 36.64 |
| MB-2012-91 | 73.65 | 184.65 | 111.00 | 1.53 | 0.73 | 0.68 | 0.72 | 35.71 |
| MB-2012-93 | 86.60 | 141.05 | 54.45 | 0.84 | 0.47 | 0.96 | 0.48 | 20.44 |
**The composite assays provided are of massive sulfide intersections only employing a 0% Zn cutoff
Figure 4- Land tenure map showing the location of the Murray Brook Project
Bathurst Mining Camp, New Brunswick
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About El Niño Ventures Inc. Bathurst Projects
1. Bathurst Mining Camp Project: (Tri-Party Agreement)
Consists of an initial 4,712 claims in the Tri‐Party Agreement with Xstrata & Votorantim whereby Votorantim may incur exploration expenditures of $10 million over a period of 5 years to earn a 50% interest. Votorantim may further increase its interest to 70% by spending an additional $10 million over 2 years.
2. Murray Brook Project:
The Murray Brook project, which has an excellent infrastructure, is the largest open-pitable massive sulfide deposits in the Bathurst Mining Camp. Votorantim can earn up to a 50% interest in the Murray Brook Project by funding $2,250,000 of exploration expenditures over a period of 3 years. Votorantim may acquire a further 20% by incurring an additional $2.5 million in exploration costs over an additional two year period. ELN has elected to participate by paying 50% of Votorantim's exploration costs during the earn-in period.
In 2011, ELN and Votorantim spent $2.1 million on exploration; and completed 10,000 metres of drilling. Drill results to date have been encouraging.
The first NI 43‐101 Mineral Resource Estimate for the Murray Brook Zn‐Cu‐Pb‐Ag‐Au deposit, which includes explanatory footnotes, is presented in the table below (see ELN press release dated February 28, 2012). The resource estimate is based on various assumptions regarding mining methods, processing and metal recoveries, payable metal NSR credits and metal prices. This estimate makes no provision for capital costs to mine the deposit, nor mill the material mined, as resources are not reserves.
Murray Brook Mineral Resource Estimate Summary
| Category | NSR Cut-Off $/t | Tonnes | Cu% | Pb% | Zn% | Au gpt | Ag gpt |
| Measured | $20 | 1,620,873 | 0.27 | 1.19 | 3.53 | 0.5 | 44.1 |
| Indicated | $20 | 17,063,441 | 0.43 | 0.93 | 2.52 | 0.51 | 38.8 |
| M + I | $20 | 18,684,314 | 0.42 | 0.95 | 2.61 | 0.5 | 39.3 |
| Inferred | $20 | 3,020,893 | 0.62 | 0.75 | 1.83 | 0.75 | 35 |
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
(1) The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
(2) The mineral resources in this news release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standard Committee on Reserve Definitions and adopted by CIM Council
(3) The Dec 31, 2011 two year trailing average US metal prices used in this estimate were $3.71/lb Cu, $1.03/lb Pb, $0.98/lb Zn, $1,397/oz Au, $27.63/oz Ag. The C$/US$ Exchange rate was 0.99.
(4) Overall payable metal in the NSR calculation were 81% Cu, 72% Pb, 64% Zn, 71% Au and 56% Ag.
(5) Mineral resources were determined within a Whittle pit shell with 45 degree slopes utilizing mining costs of C$2.50/tonne for mineralized material and waste rock, and C$1.75/tonne for overburden.
(6) Costs used to determine the C$20/tonne NSR resource cut-off value were processing at C$15/tonne and G&A C$5/tonne.
(7) The Murray Brook Mineral Resource Estimate was undertaken by Eugene Puritch, P.Eng. of P&E Mining Consultants Inc.
2012 NI 43-101 Mineral Resource Estimate is filed on SEDAR.com
Votorantim Metals Canada Inc. Statement:
Technical details in this news release were provided by Votorantim whose professional geologists conduct operations consistent with mineral industry best practices. Votorantim accepts no responsibility for this news release or any inferences made from the technical details provided herein.
About Murray Brook Minerals Inc.
Murray Brook Minerals Inc. is a privately owned mining exploration company, owner of one of the largest deposit of the Bathurst Mining Camp, (New Brunswick, Canada) the Murray Brook Deposit, as well as of the Camel Back Property consisting of 215 claims.
About Votorantim Metals Canada Inc.
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metais; a company that is part of the Votorantim Group that was founded in Brazil in 1918 operates in twenty countries and has over forty thousand employees. Votorantim Metais is the largest electrolytic‐nickel producer in Latin America and one of the world's leaders in the production of zinc, aluminum and nickel.
About El Nino Ventures Inc.
El Niño Ventures Inc. is an international exploration company, focused on exploring for lead, zinc, copper, gold and silver in New Brunswick, Canada and copper in the Democratic Republic of Congo ("DRC").
On Behalf of the Board of Directors
"Signed"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements. Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
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1 Source: Voterantim Metals Canada
SOURCE El Nino Ventures Inc.
Tel: +1 604 685 1870 Fax: +1 604 685 8045 Email: info@elninoventures.com or visit www.elninoventures.com 650-555 West 12th Avenue, City Square, West Tower, Vancouver, B.C., Canada, V5Z 3X7