Nortec Ventures Corp.
TSX VENTURE : NVT

Nortec Ventures Corp.

April 10, 2007 09:00 ET

Nortec Announces Plans for Drilling TDEM Anomalies, Koillismaa-Naranka Nickel-Copper-PGE Project, Northeastern Finland

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 10, 2007) - Further to the news release dated February 6, 2007 ("Press Release"), Nortec Ventures Corp. (TSX VENTURE:NVT), (the "Company", "Nortec"), is pleased to announce that the Company identified a drilling company, Suomen Malmi Oy, from Finland to drill the various anomalies delineated from its helicopter-borne, deep penetrating TDEM (Time Domain Electromagnetic Survey) and magnetic surveys, completed in November 2006, on the Koillismaa-Naranka nickel-copper-PGM (platinum group of metals) property located in northeastern Finland. The drilling program is expected to commence in mid-May, 2007.

The geophysical surveys were carried out by SkyTEM Aps ("SkyTEM"), a Danish airborne-geophysical survey company based in Aarhus, Denmark. A total of nearly 1,500 line kilometres was flown on the Koillismaa-Naranka reservation and claims area with a line spacing of 100 metres and the control lines at 1,000 metres. The interpretation of the TDEM data was carried out by geophysicists from SkyTEM and Condor Consulting, Inc. and indicates that the survey was successful in achieving a depth penetration of at least 300m, which is considerably more than any of the previous electromagnetic surveys in the area.

As mentioned in the Press Release, three potential target areas, Naranka, Musta, and Pyhitys were identified from depth modeling, layered earth inversion and resistivity studies of TDEM data. Depth modeling was carried out to filter out possible cultural sources from surface and determine the presence of conductors at depth.

Naranka Target

Depth modeling interpretation by layered earth inversion methods suggests the presence of two distinct north-west trending, moderate to strong, conductor anomalies approximately 900 metres apart. These conductors with coincident resistivity lows appear to be present over a strike distance of 2.5 kilometres, starting at a depth of 100 to 300 metres directly beneath the Naranka Hill. Two 600 metre angle diamond drill holes are planned to test these two anomalies. Outcrops at the Naranka Hill comprise ultramafic rocks of peridotite and pyroxenite composition with nickel depletion and without sulphides. These results and observations suggest the possibility of the occurrence of massive sulphides at depth.

The Naranka intrusion exhibits similar geological characteristics and setting to the Jinchuan deposit in China with reserves of 515 million tonnes grading 1.06 per cent nickel in an ultramafic dike over a strike length of 3 kilometres. Geochemical and petrological work suggests depletion of nickel in the magma with potential for magmatic segregation and settling of nickel sulphide in the deeper portions of the system. The Naranka dike extends over a length of 25 kilometres.

Musta Target

Two 600 metre angle drill holes are planned to test two strongest conductors. One of these two conductors, the northern most conductor, was interpreted to start at a depth of 100 to 200 metres in a hilly area with pyroxenite outcrops and no surface disturbances and could represent a buried massive sulphide body. The other conductors, which are located within a broader area of moderate conductivity, could be the result of surface disturbances, e.g., tailings and related pipes from the old Mustavaara vanadium mine. However, previous shallow drilling in this area returned sulphide intersections with significant nickel, copper and PGE values over wide widths, as shown in the following tables. All the core holes were drilled into the basal contact of the layered ultramafic complex. Some of the significant intersections are as follows:



-----------------------------------------------------
Hole Width Copper Nickel Pt+Pd+Au g/t
(metres) % %
-----------------------------------------------------
M00-10 36 0.18 0.16 0.323
-----------------------------------------------------
R648 34 0.28 0.24 0.638
-----------------------------------------------------
R636 23 0.27 0.21 0.334
-----------------------------------------------------
R655 25 0.25 0.22 No assays
-----------------------------------------------------
M00-14 31 0.12 0.12 0.261
-----------------------------------------------------

Drill holes with higher grades over narrower widths are as follows:

-----------------------------------------------------
Hole Width Copper Nickel Pt+Pd+Au g/t
(metres) % %
-----------------------------------------------------
R352 2 0.40 0.25 1.101
-----------------------------------------------------
M00-2 1 0.43 0.13 1.165
-----------------------------------------------------
R340 6 0.17 0.50 No assays
-----------------------------------------------------
R647 6 0.35 0.21 No assays
-----------------------------------------------------
M01-2 10 0.31 0.23 0.55
-----------------------------------------------------


These holes were drilled in the 1960's and 1990's by Geological Survey of Finland ("GTK"), in 1975 by Rautaruukki, the former Finnish vanadium mining company, and by North Atlantic Natural Resources, a Lundin Company, during 2000 - 2001. A total of 62 shallow holes were drilled in the contact area of the ultramafic complex with the basement rocks over a strike length of 12km. Nearly all the drill holes returned significant nickel, copper and platinum - palladium - gold values. A typical geological section with the drill holes shows that the mineralization is fairly consistent near the bottom of the layered gabbro intrusive body. The maximum vertical depth of intersection of the basal contact was 140 metres. The further down-dip extension of this prospective mineralized zone has never previously been tested by drilling.

Pyhitys Target

The Pyhitys target is located approximately 7 kilometres to the east of Musta. Pyhitys is underlain by the same north dipping ultramafic complex with quartz-albite alteration zone at the contact, overlain by gabbro-norite-peridotite, and in turn overlain by gabbro. TDEM surveys in this area show two weak late-time anomalies, one to the south near the footwall contact and the other, located 2 kilometres to the north, down-dip of the intrusive complex, and near the axis of gravity highs as well as a very distinctive north-east trending mafic dike.

Outcrop grab sampling and reconnaissance drilling near the footwall contact by GTK (Geological Survey of Finland) returned significant nickel, copper and platinum-palladium-gold values as follows:



GTK Outcrop Sampling:

--------------------------------------------------------
Sample No. Copper% Nickel% Pt+Pd+Au g/t Sulphur%
--------------------------------------------------------
45 0.27 0.23 0.16 1.08
--------------------------------------------------------
46 0.05 0.03 0.16 0.06
--------------------------------------------------------
47 0.35 0.13 0.25 0.79
--------------------------------------------------------
48 0.15 0.23 0.15 1.00
--------------------------------------------------------
70 0.22 0.30 0.20 1.08
--------------------------------------------------------
84 0.02 0.02 0.01 0.01
--------------------------------------------------------
94 0.96 1.45 1.44 5.25
--------------------------------------------------------
95 1.17 0.29 0.47 2.12
--------------------------------------------------------

The above area has not been drilled in the past, due to the presence of
steep slopes which prevented access to the drill rigs used at that time.

GTK drill holes several hundred meters to the west of the above outcrops
yielded the following intersections:

---------------------------------------------------------------------------
Hole From - To Width Copper Nickel Pt+Pd+Au Sulphur
(metres) (metres) % % g/t %
---------------------------------------------------------------------------
R338 150.2 - 154.5 4.30 0.19 0.14 0.14 0.58
---------------------------------------------------------------------------
R340 69.2 - 75.5 6.50 0.19 0.16 0.16 0.60
---------------------------------------------------------------------------
R341 89.4 - 123.45 34.50 0.17 0.11 0.12 0.29
---------------------------------------------------------------------------
R342 71.0 - 71.4 0.40 0.27 0.26 0.61 0.85
---------------------------------------------------------------------------


One 600 metre angle drill hole is planned to test the north-dipping contact of the gabbro-norite-peridotite with the footwall basement rocks towards the second TDEM anomaly, the gravity high axis, and the mafic dyke. This drill hole is designed to determine the presence of any potential nickel-bearing massive sulfide bodies in feeder dikes and vein-type mineralization similar to the massive sulphide occurrences at the Monchegorsk nickel mine across the border in Russia.

A second hole will test the first TDEM anomaly down dip from the outcrops with higher grade nickel-copper massive sulphide mineralization (sample numbers 94 and 95) as shown in the above GTK outcrop sampling table.

This initial drilling program on the three targets is estimated to be 2500 metres and will be expanded to 5000 metres depending on the results.

The company is earning an undivided 70% interest in the Koillismaa-Naranka project from Akkerman Exploration B.V. ("AEBV") of the Netherlands. Mineral rights pertaining to the project comprise 3 claim reservations and 19 exploration licenses, as well as a series of additional exploration licenses under application. For further details on the geology and mineralization of the Koillismaa - Naranka Project please visit the Company's website at http://www.nortecventures.com.

Mohan R. Vulimiri, M.Sc, P.Geo., President, CEO and Director of Nortec, and Mr. Jan Akkerman, Managing Director of AEBV, are the persons responsible for initiating and guiding the work programs on the Koillismaa - Naranka Project.

Other News

The Company is planning a helicopter-borne TDEM survey on the TL nickel-copper project, located 70 kilometres west of Nain and 50 kilometres north of CVRD-Inco's Voisey's Bay nickel-copper mine, Northern Labrador. This survey will help in determining the presence of any deep nickel-bearing massive sulphide targets in the vicinity of the drill hole intersections on the Pond Zone and the Goose Feather Anomaly in 2005. The drill hole No. 54 from the Pond Zone returned significant nickel and copper values as follows:



----------------------------------------------------
From - To Width Copper Nickel Cobalt
(metres) (metres) % % (ppm)
----------------------------------------------------
5.5 - 13.8 8.30 0.37 0.84 231
----------------------------------------------------
5.8 - 13.8 8.00 0.38 0.87 239
----------------------------------------------------
6.8 - 13.8 7.00 0.43 0.97 266
----------------------------------------------------
6.8 - 12.8 6.00 0.48 1.09 298
----------------------------------------------------
6.8 - 11.8 5.00 0.53 1.19 235
----------------------------------------------------


Included in this is a 0.7 metre intersection assaying 0.35% copper and 2.19% nickel. More drilling is required to determine the true widths and the source of the mineralization. The sulphide mineralization, up to 40% in places, consists of pyrrhotite, pentlandite and chalcopyrite in places and exhibits leopard textures typical of the mineralization at the Voisey's Bay orebody. The mineralization occurs in gabbro intrusive bodies of probable troctolitic composition. The drill hole was designed to trace the source of the sulphide mineralization and intersected several gabbro-troctolite bodies at depth. It was terminated at 325 metres due to drilling problems.

In another area known as Goose Feather Anomaly, 800 metres south of the Pond Zone, drill hole no. 46 returned anomalous values in the range of 100 to 580 ppm copper and 100 to 370 ppm nickel over 10 metres.

Nortec is earning 51% interest with an option to earn 90% interest in TL property from Vulcan Minerals of St. John's, Newfoundland.

About Nortec

Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company holds an option to earn a 51% interest in the Ganarin Gold-Silver Project, and a 70% interest in the Condorcocha Gold-Silver Project, both located in Southern Ecuador, from joint-venture partner Doubloon Exploration Corp. The Company is also evaluating other potential acquisitions.

On behalf of the Board of Directors,

NORTEC VENTURES CORP.

Mohan R. Vulimiri, President & CEO

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. 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.

Contact Information

  • Nortec Ventures Corp.
    Mohan R. Vulimiri
    President & CEO
    (604) 717-6426
    or
    Suite 875, 555 Burrard Street
    Box 205, Bentall Two Centre
    Vancouver, BC, Canada V7X 1M8
    (604) 717-6426
    (604) 717-6427 (FAX)
    Email: info@nortecventures.com
    Website: www.nortecventures.com