Nortec Ventures Corp.
TSX VENTURE : NVT

Nortec Ventures Corp.

October 14, 2008 12:51 ET

Nortec Announces 65m @ 1.57g/t PGE+Au on the Kaukua Property, Finland

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2008) - Nortec Ventures Corp. (TSX VENTURE:NVT), ("Nortec" or the "Company"), is pleased to announce the first results from the Phase III diamond drilling program on the Kaukua Platinum-Palladium-Gold ("PGE + Au") - Copper ("Cu") - Nickel ("Ni") project located in Northeastern Finland.

Highlights include:-

- 65.0m @ 1.57g/t PGE+Au from 153.0m (Hole Kau08-018)

- 20.0m @ 1.12g/t PGE+Au from 79.0m (Hole Kau08-015)

- 30.7m @ 1.02g/t PGE+Au from 90.3m (Hole Kau08-017)

The Company has a 70% interest with an option to increase to 80% interest in the Kaukua Project from Akkerman Exploration B.V. ("AEbv"), a private company based in the Netherlands.

Drill program

To date, 34 holes were drilled at Kaukua by Nortec Ventures in 2007 and 2008. The Phase III drilling program is ongoing with a total of 17 holes (Kau08-015 to Kau08-034) drilled to date totalling 4,569 metres ("m"). Based on the excellent results from the Phase I and II drilling program, the Phase III drilling program was designed to extend the trace of known mineralization a further 200m along strike and 200m down-dip. The Phase III drilling program is also evaluating the geophysical chargeability anomalies identified in the recently completed Induced Polarization ("IP") survey. Drilling to date suggests that the mineralisation appears to be coincident with the chargeability anomalies. Drill hole locations are shown in Figure 1.

Best Intercepts

Drill results have been received for PGE+Au, Cu and Ni for holes KAU08-015 ("Hole 15"), KAU08-016 ("Hole 16"), KAU08-017 ("Hole 17") and Kau08-018 ("Hole 18") are shown below in Table 1 (PGE+Au) and Table 2 (Cu and Ni).



TABLE 1: Best Intercepts of PGE + Au from Phase III drilling at Kaukua
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From To Interval Gold Palladium Platinum PGE +
Hole_ID (m) (m) (m) g/t g/t g/t Gold g/t
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Kau08-015 79.00 99.00 20.00 0.11 0.82 0.30 1.12
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Including 80.00 88.00 8.00 0.15 1.30 0.47 1.77
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Kau08-016 50.00 101.00 51.00 0.37 0.37 0.13 0.54
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Including 25.00 33.00 8.00 0.39 0.50 0.20 0.74
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Including 50.00 61.00 11.00 0.69 0.49 0.17 0.73
----------------------------------------------------------------------------
Including 75.00 83.00 8.00 0.50 0.74 0.27 1.06
----------------------------------------------------------------------------
Including 100.00 101.00 1.00 0.83 1.05 0.33 1.46
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Kau08-017 90.30 121.00 30.70 0.54 0.72 0.24 1.02
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Including 90.30 95.00 4.70 0.92 1.34 0.46 1.90
----------------------------------------------------------------------------
AND 166.00 167.00 1.00 0.13 1.36 0.36 1.84
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Kau08-018 153.00 218.00 65.00 0.18 1.04 0.35 1.57
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Including 153.00 180.55 27.55 0.30 1.11 0.37 1.78
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Including 188.00 218.00 30.00 0.11 1.22 0.41 1.75
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WITH 191.10 199.60 8.50 0.18 1.66 0.57 2.42
----------------------------------------------------------------------------

TABLE 2: Best Intercepts of base metals (Cu and Ni) from Phase III drilling
at Kaukua
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From To Interval Copper Copper Nickel Nickel
Hole_ID (m) (m) (m) % lbs/ton % lbs/ton
----------------------------------------------------------------------------
Kau08-015 79.00 99.00 20.00 0.17 3.79 0.11 2.37
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Including 80.00 88.00 8.00 0.26 5.75 0.17 3.79
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Kau08-016 50.00 101.00 51.00 0.11 2.33 0.09 2.02
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Including 25.00 33.00 8.00 0.12 2.58 0.12 2.64
----------------------------------------------------------------------------
Including 50.00 61.00 11.00 0.16 3.60 0.10 2.15
----------------------------------------------------------------------------
Including 75.00 83.00 8.00 0.12 2.74 0.14 3.09
----------------------------------------------------------------------------
Including 100.00 101.00 1.00 0.31 6.81 0.39 8.66
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Kau08-017 90.30 121.00 30.70 0.16 3.45 0.11 2.43
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Including 90.30 95.00 4.70 0.25 5.60 0.16 3.63
----------------------------------------------------------------------------
AND 166.00 167.00 1.00 0.20 4.32 0.55 12.08
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Kau08-018 153.00 218.00 65.00 0.18 3.90 0.10 2.18
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Including 153.00 180.55 27.55 0.19 4.26 0.12 2.68
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WITH 165.00 179.50 14.50 0.26 5.72 0.12 2.70
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Including 188.00 218.00 30.00 0.20 4.49 0.09 2.08
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WITH 191.10 199.60 8.50 0.27 5.88 0.12 2.69
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NOTES: g/t - grams/tonne or ppm (part per million); 1 pound = 454 grams


Geology and Mineralization

The most significant result to date was encountered in Hole 18. The mineralised intercept of 65m @ 1.57g/t PGE+Au is twice the average thickness of mineralisation intersected in previously announced drill holes. There are two main zones averaging over 1.75g/t PGE+Au separated by a 7.5m thick barren peridotite. The upper zone is 27.55m thick and is hosted in a sulphide-rich massive pyroxenite. The lower zone is 30m thick, and is hosted in a mixed zone of predominantly pyroxenite with xenoliths of basement granodiorite. The mineralisation appears as disseminations and aggregates within the pyroxenite and granodiorite xenoliths. Hole 18 is located along Section 3700mE, 100m behind drill holes Kau08-008 and Kau07-004 (Figure 2.) In view of the positive results obtained in Hole 18, hole Kau08-026 was drilled 80m down-dip to test the continuity of the thicker mineralisation. Results are awaited.

Hole 15, Hole 16 and Hole 17 were drilled in the eastern part of the project area. Hole 15 was drilled to test the up-dip continuation of the mineralisation intersected in drill hole KAU07-007 along Section 3750mE. Although the intercept is slightly narrower and lower in average grade, mineralisation can be projected up-dip a further 100m towards surface. Hole 16 was drilled along Section 3850mE between the strong mineralisation encountered in hole Kau07-001 (50m to the west along Section 3800mE) and barren hole Kau07-006 (50m to the east along section 3900mE). Results from Hole 16 indicated that the pyroxenite, although sulphide-rich, was weakly mineralised and suggests that this may be the eastern extent of the higher grade PGE+Au mineralisation at Kaukua. Hole 17 was drilled to test the down-dip continuity of the mineralisation in drillholes Kau07-001 and GTK-R404. Results from Hole 17 maintain the consistent 30m wide zone with a weighted average grade of over 1g/t PGE+Au.

PGE and Gold mineralization at Kaukua is intimately associated with significant Nickel and Copper values and is predominantly hosted in the lower pyroxenite, peridotite and gabbronorite phases of the Kaukua block of the Koillismaa intrusive complex near the footwall contacts with the Precambrian basement K-feldspar rich and siliceous granites.

In general, the drill results to date have delineated a mineralised zone that has 600m of strike (open to the west) and down-dip continuity of 300m from near-surface and open to the southwest. The thickness of the mineralized zone intersected to date averages 30m with higher grade sections averaging between 10 and 15 m. However, results from Hole 18 suggest that the width and grade of the mineralised zone increases at depth. In house resource estimates are being updated and the Company is encouraged by the potential of the Kaukua Project for hosting significant PGE+Au, Cu and Ni mineralisation.

Laboratory and Analyses

The analyses were performed by Labtium Oy, a Finnish Government company based in Espoo and Rovaniemi, Finland. The analyses are taking a lot longer than anticipated as the laboratory has been operating on a part-time basis over the summer holidays. The Company has also been informed that the laboratory will be moving premises in Rovaniemi over the course of the next few months possibly adding further delays in the reception of results. The Company has raised the turn-around time issue with Labtium and they have assured the Company that the Kaukua samples will be processed as quickly as possible and will make every effort to reduce the turn-around time to less than 4 weeks.



The laboratory methods used for the analyses are as follows:

10 Drying of sample at 70 degrees Celsius
Fine crushing greater than 70% less than 2 mm with
31 Cr-steel jaws
35 Separate splitting of sample
50 Pulverizing in hardened steel bowl (max. 4 kg)
210 Hydrogen peroxide and ammonium citrate leach
510 Aqua regia leach at 90 degrees Celsius
704 Lead fire assay pre-concentration, 25g sub-sample
720 Sodium peroxide fusion, 0.2g sub-sample
+ 240P Multi-element analysis by ICP-AES
+ 510P Multi-element analysis by ICP-AES
+ 704P Determination of Au, Pd, Pt with ICP-AES-technique


The 240P method is a selective leach dissolving Nickel from sulphide minerals, e.g., pentlandite, pyrrhotite and millerite. Analyses from Drill Hole Kau07-008 shows sulphide Nickel values are approximately 0.34 times total Nickel content in the sample. Every tenth sample from all Phase III drillholes have been analyzed by this method to determine the Nickel content associated with sulphides.

For further information regarding all drill results to date from the Kaukua project please refer to previous news releases available on Nortec's website at www.nortecventures.com. Mohan R. Vulimiri, M.Sc, P.Geo., President, CEO and Director of Nortec; Mr. Jan H. Akkerman, Managing Director of AEbv and, Ian F. Laurent MEconGeol MAIG RPGeo, Vice President - Exploration for Nortec, are the persons responsible for initiating and guiding the work programs on the Kaukua Project. Mohan Vulimiri is the Qualified Person responsible for the contents of this press release.

To view a map of the Kaukua Project, click the following link: http://media3.marketwire.com/docs/1014nvt_map.pdf.

About Nortec

Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company is continuing to evaluate other potential acquisitions. Information on Nortec's activities can be referred to on the Company's website, www.nortecventures.com.

On behalf of the Board of Directors,

NORTEC VENTURES CORP.

Mohan R. Vulimiri, President & CEO

The statements made in this Press Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Nortec Ventures Corp.
    Mohan R. Vulimiri
    President & CEO
    (604) 717-6426
    (604) 683-9648 (FAX)
    Website: www.nortecventures.com