VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2013) - Nikos Explorations Ltd. (TSX VENTURE:NIK) ("Nikos") is pleased to announce that a high-resolution VTEM (Versatile Time-Domain Electromagnetic System) airborne survey was recently completed by Geotech Ltd. over its Borden Lake Extension Property located near Chapleau Ontario.
The VTEM and magnetic surveys were completed in order to identify electromagnetic anomalies that may be associated with gold mineralization and to help in the geological interpretation of this underexplored area. The target on the property is gold mineralization associated with disseminated sulphide, as found on the adjacent Borden Lake property. A total of 391 line kilometers were flown to cover the 1,598 hectare property. Results of the survey are expected in about four weeks.
The Borden Lake Extension property lies immediately east of Probe Mines' Borden Lake gold property where recent exploration has defined pit constrained indicated resources of 3,686,000 ounces of gold (112,844 M tonnes grading 1.02g/t gold) and inferred resources of 625,000 ounces of gold (18,036 M tonnes grading 1.08g/t gold) at a 0.5g/t cutoff grade.
About Nikos Explorations:
Nikos Explorations is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in the Americas. The company has 44,475,406 shares issued and outstanding and trades on the TSX Venture Exchange under the symbol NIK.
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.