Nortec Minerals Corp.
TSX VENTURE : NVT
FRANKFURT : WMQ
PINK SHEETS : NMNZF

Nortec Minerals Corp.

March 01, 2011 15:06 ET

Nortec Confirms Gold Mineralization at Tammela

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2011) - Nortec Minerals Corp. (TSX VENTURE:NVT)(PINK SHEETS:NMNZF)(FRANKFURT:WMQ) ("Nortec" or the "Company"), is pleased to announce that it has confirmed the presence of gold mineralization in the northern part of the Company's Tammela Project ("Tammela") in southern Finland. The Company holds a 100% interest in Tammela.

Highlights:

  • 37.7 metres @ 1.03 g/t Gold from 51 metres (Hole R330 – Satulinmäki Prospect)
  • 10.0 metres @ 2.47 g/t Gold from 20 metres (Hole R356 – Riukka Prospect)
  • 2.50 metres @ 6.81 g/t Gold from 61.35 metres (Hole R357 – Riukka Prospect)

In September 2010, Nortec converted the 2,500 hectare claim reservation that covers the Tammela Lithium Project into 30 contiguous claims for a total of 1,511 hectares. During this process, Nortec was able to include two gold prospects, Riukka and Satulinmäki, located only 1 kilometre north and 5 kilometres north-west respectively of the main zone of lithium mineralization identified on the Kietyönmäki prospect that initially made up the Tammela Project.

Further research on the two prospects, including site visits, identified that during the 1990's, the Geological Survey of Finland (GTK) drilled 39 holes at the Riukka prospect and 57 holes in the Satulinmäki prospect targeting geochemical anomalies with elevated gold. Last quarter, Nortec carried out a relogging and select re-sampling programme of available drill core stored at the GTK's core storage facility in the town of Loppi, north-west of Helsinki.

Fifteen holes (9 from Riukka and 6 from Satulinmäki) were available for inspection. The drill core was geologically logged to identify the styles and controls of gold mineralization from both prospects. Samples were selected from 13 of the 15 holes logged for a total of 414 samples (141 samples from Riukka and 273 from Satulinmäki). The best assay intervals from the samples taken by Nortec are shown in the Table 1 below. Best assay results from Riukka drill holes not available for inspection but documented in public domain GTK reports are shown in Table 2.

Table 1: Best drill intercepts from Nortec sampling of archive drill core.
Hole_ID From
(m)
To
(m)
Interval
(m)
Gold
g/t
  Prospect Comments
R329 13.40 20.50 7.10 1.67   Satulinmäki Nortec sampling
R330 51.00 88.70 37.70 1.03   Satulinmäki Nortec sampling
including 58.50 61.50 3.00 3.85   Satulinmäki Nortec sampling
including 84.20 88.70 4.50 3.37   Satulinmäki Nortec sampling
R332 19.60 20.60 1.00 1.16   Riukka Nortec sampling
R333 NSI NSI NSI NSR   Riukka Nortec sampling
R334 29.20 34.20 5.00 1.60   Satulinmäki Nortec sampling
R340 20.80 31.80 11.00 0.48   Satulinmäki Nortec sampling
R356 20.00 30.00 10.00 2.47   Riukka Nortec sampling
including 21.00 24.00 3.00 7.37   Riukka Nortec sampling
R357 61.35 63.85 2.50 6.81   Riukka Nortec sampling
R358 NSI NSI NSI NSR   Riukka Nortec sampling
R366 NSI NSI NSI NSR   Riukka Nortec sampling
R374 53.00 56.00 3.00 0.66   Riukka Nortec sampling
R385 13.00 15.00 2.00 1.57   Satulinmäki Nortec sampling
R386 40.00 43.00 3.00 0.56   Satulinmäki Nortec sampling
Notes: Samples taken by Nortec were submitted to ALS Chemex in Outokumpu for Ore grade Gold by fire assay with an AAS finish (FA-AAS). Best intercepts were calculated using a cut-off grade of 0.4g/t Gold and a maximum internal waste of 2 metres. NSI = No significant Interval. NSR = No significant Result.
 
Table 2: Best drill intercepts from GTK drill core at Riukka
Hole_ID From
(m)
To
(m)
Interval
(m)
Gold
g/t
  Prospect Comments
R353 3.50 4.50 1.00 35.50   Riukka GTK REPORT : 2007
R354 36.10 36.90 0.80 1.92   Riukka GTK REPORT : 2007
R363 50.00 51.50 1.50 0.54   Riukka GTK REPORT : 2007
R363 81.30 82.30 1.00 0.50   Riukka GTK REPORT : 2007
R364 53.00 59.00 6.00 0.50   Riukka GTK REPORT : 2007
R365 17.00 18.00 1.00 1.69   Riukka GTK REPORT : 2007
R369 NSI NSI NSI NSR   Riukka GTK REPORT : 2007
R370 18.00 19.00 1.00 1.28   Riukka GTK REPORT : 2007
R373 NSI NSI NSI NSR   Riukka GTK REPORT : 2007
R375 31.00 42.00 11.00 0.60   Riukka GTK REPORT : 2007
R376 47.50 48.50 1.00 1.17   Riukka GTK REPORT : 2007
R377 37.00 38.00 1.00 0.64   Riukka GTK REPORT : 2007
R378 61.00 63.00 2.00 0.77   Riukka GTK REPORT : 2007
R399 NSI NSI NSI NSR   Riukka GTK REPORT : 2007
R400 25.20 30.70 5.50 2.00   Riukka GTK REPORT : 2007
R401 NSI NSI NSI NSR   Riukka GTK REPORT : 2007
R402 NSI NSI NSI NSR   Riukka GTK REPORT : 2007
R403 53.60 54.60 1.00 0.67   Riukka GTK REPORT : 2007
R404 22.10 23.10 1.00 2.22   Riukka GTK REPORT : 2007
R406 17.70 18.70 1.00 0.56   Riukka GTK REPORT : 2007
R407 NSI NSI NSI NSR   Riukka GTK REPORT : 2007
R408 73.00 74.00 1.00 0.61   Riukka GTK REPORT : 2007
R410 NSI NSI NSI NSR   Riukka GTK REPORT : 2007
R411 42.50 43.10 0.60 1.10   Riukka GTK REPORT : 2007
R412 NSI NSI NSI NSR   Riukka GTK REPORT : 2007
R433 NSI NSI NSI NSR   Riukka GTK REPORT : 2007
Source: GTK report "Kärkkäinen et al., 2007. GTK Report M06/2024/2007/1/10/69"

The Riukka and Satulinmäki gold prospects are situated in the Häme Schist Belt in southern Finland, dominated by mafic and felsic to intermediate metavolcanic rocks. Gold mineralization at Riukka is hosted within the arsenopyrite-pyrrhotite bearing quartz veins and biotite-altered and silicified wall rock that is over 100m wide and can be traced for over 1km along an east-west strike. Gold mineralization at Satulinmäki is hosted within sulphide-tourmaline rich quartz veins within a 400m wide biotite-altered and silicified wallrock along a 700 metre northeast-southwest strike. Wide zones of mineralization at Satulinmäki are confirmed by the intersection in drill hole R330 (37.70 metres of 1.03 g/t gold). 

The significant drillhole intersections have been projected onto the Satulinmäki and Riukka GTK-generated surface geology map confirming that the mineralization is hosted in several discrete sub-parallel steeply plunging significant mineralized quartz-vein hosted shoots. This suggests these shoots have the potential to form bulk-tonnage gold deposits.

Ian Laurent, President of Nortec states, "The Company is excited to not only have a 100% interest in a project that contains an important strategic commodity like lithium, but that within that same project, only 1 km to the north of the main lithium prospect, there is near-surface gold mineralization delineated and systematically studied by the GTK. Nortec confirmed the GTK results by re-sampling the archive drill holes. This really does create a new dynamic in how the company will conduct exploration in this multi-commodity district. We are looking forward to adding to this discovery with the aim of delineating potential gold resources along with lithium from the Tammela Project."

With the addition of the Riukka and Satulinmäki gold prospects, along with the original Kietyönmäki lithium prospect, Nortec regards the Tammela Project as an important and strategic acquisition. An exploration programme is being designed to help further delineate the bulk-style gold mineralization over wide widths identified at Riukka and Satulinmäki.

Gold exploration and mining has been very active in the Tampere-Häme district since 2001. Australian mining company, Dragon Mining, is operating the Orivesi and Jokisivu Gold Mines, approximately 80km north of the Nortec's Tammela Project.

The Kietyönmäki Prospect, to the south of Riukka, remains an important area as it contains significant lithium mineralization; including 9 metres @ 1.03% Lithium (see Nortec News Release February 10, 2010). The lithium mineralization is also complemented by very low iron and magnesium content. Demand for lithium, continues to grow due to lithium applications in automobile and hi-tech batteries. Lithium projects in Finland have become increasingly important to European manufacturers as it addresses their concerns regarding security in the supply of lithium.

Mr Turkka Rekola, M.Sc,, Project Geologist – Finland and, Mr Ian F. Laurent MSc.(EconGeol) MAIG RPGeo, President for Nortec, are the persons responsible for initiating and guiding of the work programs on the Tammela Project. Ian F. Laurent is the Qualified Person responsible for the contents of this press release.

About Nortec Minerals Corp.

Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has a 100% interest in the Tammela Gold & Lithium Project in south-west Finland; a 100% interest in the LK Palladium-Platinum-Gold-Copper-Nickel Project in north-central Finland; an option to earn from Akkerman Exploration B.V., a 100% interest in the Seinäjoki Gold Property and Kaatiala Beryllium-Rare Earth Property in western Finland; a minimum 51% interest with an option to earn 100% interest in the TL Nickel-Copper-Cobalt Property in Northern Labrador, Canada; and, an option to acquire 51% interest in the Ganarin Gold-Silver Property, Ecuador.

On behalf of the Board of Directors

NORTEC MINERALS CORP.

Mohan R. Vulimiri, Executive Chairman & CEO

This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

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

Contact Information

  • Nortec Minerals Corp.
    Ian F. Laurent
    President
    +1 604-717-6426
    or
    Nortec Minerals Corp.
    Mr. Mohan Vulimiri
    Chairman and CEO
    +1 604-717-6426
    +1 604-683-9649 (FAX)
    www.nortecminerals.com