VANCOUVER, Sept. 12 /CNW/ - Nortec Ventures Corp., ("Nortec" or the
"Company"), is pleased to announce that further to the Company's press release
dated August 11, 2005, detailed evaluation of the geochemical and geological
program on the Ganarin project has now been completed. Geochemical soil
sampling on grids at 25 metre line spacing and geological mapping at a scale
of 1:1000 were completed on the project. Three potential areas, Loma La Cruz,
Chamana and Red 3, have been delineated.
Soil sampling results from the Loma La Cruz area show extensive parallel
geochemical soil anomalies with several values in the range of 1 gram to
8 grams per tonne gold. One of the anomalies, with values greater than
0.5 grams per ton gold, trends for a distance of 200 metres. These anomalies
coincide with several sub-parallel outcrops of quartz-chalcedony breccia veins
and veinlets.
On the Red 3 area, mineralization consisting of stockwork chalcedony
veins and veinlets was observed over an area of 200 metres by 50 metres.
Several values in the range of 2.5 grams to 28.4 grams per ton gold were
obtained from stockwork veins and veinlets.
Results in the Chamana area located 800 metres north of Loma La Cruz also
suggest extensive geochemical soil anomalies.
A program consisting of 3000 metres of diamond core drilling on the
Chamana, Red 3 and Loma la Cruz areas is being planned. The Company is
contemplating financing of $500,000 to initiate this drill program.
The Ganarin Property is subject to option and joint venture agreements
with Doubloon Exploration Corp. whereby, Nortec has the option to acquire up
to a 51% interest in the Ganarin project located in Azuay province, Ecuador.
The Ganarin project is situated in the prolific Ganarin Mineral Belt. IAMGOLD
Corporation's Quimsacocha gold deposit occurs in the same belt approximately
40 kilometres northeast of the Ganarin Property. Channel Resources' El Mojo
gold property also occurs in the same area.
Mr. Mohan R. Vulimiri, M.Sc. P.Geo., President and Director of Nortec, is
the person responsible for initiating and guiding the work programs on the
Ganarin project. Mr. Vulimiri is a qualified person in accordance with
National Instrument 43-101 guidelines.
For further details on Nortec Ventures Corp., please visit the Company's
website at http://www.nortecventures.com.
On behalf of the Board of Directors,
"Mohan R. Vulimiri"
Mohan R. Vulimiri, President & CEO
This press release contains forward-looking statements that involve risks
and uncertainties. The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of the contents herein.
Very Encouraging Results from Ganarin Gold Project, Southern Ecuador
Story so far
Earlier from Nortec Minerals
- Drilling returned 0.87% nickel and 0.38% copper over 8 metres (including 2.19% nickel across 0.7 metres) in Labrador
- Update on the TL Nickel-Copper Property, Labrador and on the Ganarin and Condorcocha Gold-Silver Projects, Southern Ecuador
- Nortec Provides Update on the TL Nickel-Copper Property, Labrador, and on the Ganarin and Condorcocha Epithermal Projects, Southern Ecuador
Later from Nortec Minerals
- Exploration Update, Ganarin Property, Southern Ecuador
- TSX Venture Exchange - Trading Halt - Nortec Ventures Corp. - NVT
- Significant Gold Results over Substantial Lengths, Chamana Area, Ganarin Property, Southern Ecuador
- TSX Venture Exchange - Trade Resumption - Nortec Ventures Corp. - NVT
- Private Placement Closed
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