Nitinat Minerals Corporation

November 17, 2009 09:27 ET

Nitinat to Commence Exploration on the Jasper Property

TORONTO, ONTARIO--(Marketwire - Nov. 17, 2009) - Nitinat Minerals Corporation (the "Corporation") (TSX VENTURE:NZZ) is pleased to announce that it intends to commence exploration work on the Jasper Property for base and precious metals, including molybdenum, immediately after the Corporation is able to secure the necessary personnel to carry out the work program and assuming that the weather permits the commencement of the work program.

The Jasper Property, which contains volcanogenic massive sulphide (VMS) and associated porphyry-related mineralization, is located in the Victoria Mining Division, southwestern Vancouver Island, British Columbia, Canada and covers 6,615 hectares. Complete details of the Jasper Property can be found in the Corporation's prospectus which can be viewed through the Corporations homepage on the SEDAR website (

Exploration evidence gathered to date indicates that the geological setting of the Jasper Property is favorable for two styles of mineralization: (i) Noranda/Kuroko massive sulphide copper-zinc-lead-silver-gold mineralization syngenetic with the Jurassic-aged host rocks; and (ii) porphyry copper-gold-molybdenum mineralization and related copper skarn and epithermal gold-silver-copper mineralization of Jurassic or possible younger Eocene age.

Initial work will consist of follow-up ground truthing of 22 anomalies delineated by a recent helicopter-borne electromagnetic and aeromagnetic survey. Prospecting, mapping, and trenching will prioritize 16 new geochemical anomalies from previous work for drill testing, in addition to the 13 known copper-zinc-lead sulphide showings already located in outcrop during previous exploration campaigns.

Progress from field work will be reported when assay results from sufficient samples are in hand. Drill testing of prioritized targets is expected to commence immediately after the completion of the ground truthing.

The Qualified Person in charge of the Jasper Property and the person who prepared the technical data in this release is Jacques Houle, P. Geo.

This update contains "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

Neither 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.

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  • Nitinat Minerals Corporation
    Marc Branson