Nortec Ventures Corp.
TSX VENTURE : NVT

Nortec Ventures Corp.

November 26, 2007 18:40 ET

Nortec Ventures (NVT) Announces Diamond Core Drilling Returned Significant Palladium, Platinum and Gold Values, Kaukua Property, Northeastern Finland

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - Further to the press release dated November 14, 2007, Nortec Ventures Corp. (TSX-V:NVT), ("Nortec" or the "Company"), is pleased to announce that geochemical analyses of the first three (3) diamond drill holes (Kau07-01, Kau07-02, Kau07-03) returned significant Platinum, Palladium, Gold, values over significant lengths on the Company's optioned Kaukua property located in Northeastern Finland. Nortec is earning a 70% interest with an option to increase to 80% in the Kaukua property.

The claims area is called the Kaukua Block, of the Koillismaa - Naranka layered ultramafic complex. Geological Survey of Finland ("GTK") carried out detailed field work consisting of geological mapping, geophysical surveys and limited shallow diamond core drilling (6 core holes) in 1999 and 2004.

A total of 1024.70 metres of core drilling consisting of 7 holes (Kau07-01 to Kau07-07) were drilled at 100 metre spacing up-dip from previous core holes R387, R404 and R405 drilled by GTK. Results for R404, R405 and R387 are shown below. This drill program was designed to test the extent of the higher grade mineralization intersected in drill hole R405 over a distance of 600 metres. The holes Kau07-01 to Kau07-06 were drilled over a horizontal distance of 750 metres and Kau07-07 was drilled 100 metres south from Kau07-01 to test down-dip potential. Results from this phase of diamond drilling will help in understanding the rake, if any, of the mineralization as well as the grade continuity and potential tonnage for near surface mineralization. All the drill holes were between 110 metres and 170 metres in length and were terminated several tens of metres below the basal contact of the layered ultramafic series. Nickel and copper analyses from drill holes Kau07-01, Kau07-02 and Kau07-03 and analyses from drill holes Kau07-04, Kau07-05, Kau07-06 and Kau07-07 have not been received to date. Please refer to the Company's press release dated November 14, 2007 for results from the GTK drilling.



Significant averages from some of the previous GTK drilling:

---------------------------------------------------------------------
Intersection Copper + PGE + Gold
Hole From in metres Nickel% grams/tonne
---------------------------------------------------------------------
R387 66.51 17 0.28 1.00
---------------------------------------------------------------------
R404 58.00 16 0.35 1.39
---------------------------------------------------------------------
R404 60.40 39 0.30 1.24
---------------------------------------------------------------------
R405 124.53 14 0.29 1.35
---------------------------------------------------------------------


1000 ppb = 1 gram/tonne = 0.0291 oz/short ton

The attached figure with the current and GTK drill holes shows the area
tested by drilling.

Results from the first three holes, Kau07-01, Kau07-02, and Kau07-03 are as
follows:

Kau07-01

----------------------------------------------------------------------------
Width Gold Palladium Platinum PGE + Nickel Copper
From To metres ppb ppb ppb Au ppb % %
----------------------------------------------------------------------------
55.00 78.00 23 135 888 314 1337
----------------------------------------------------------------------------
Including
57.00 75.00 18 157 981 337 1475
----------------------------------------------------------------------------
Including
57.00 63.00 6 300 1297 467 2064
----------------------------------------------------------------------------
Including
70.00 75.00 5 124 1345 445 1914
----------------------------------------------------------------------------


Detailed analyses of drill hole Kau07-01 are shown in the following table:

--------------------------------------------------------------------
Width Gold Palladium Platinum Nickel Copper
From To metres ppb ppb ppb % %
--------------------------------------------------------------------
54.00 55.00 1.00 12 267 117
55.00 56.00 1.00 78 508 284
56.00 57.00 1.00 65 395 215
57.00 58.00 1.00 28 1160 367
58.00 59.00 1.00 1360 1360 624
59.00 60.00 1.00 99 1540 604
60.00 61.00 1.00 146 1330 421
61.00 62.00 1.00 95 1360 460
62.00 63.00 1.00 74 1030 328
63.00 64.00 1.00 156 798 252
64.00 65.00 1.00 45 427 145
65.00 66.00 1.00 37 252 88
66.00 67.00 1.00 45 413 139
67.00 68.00 1.00 58 606 198
68.00 69.00 1.00 33 262 86
69.00 70.00 1.00 20 394 134
70.00 71.00 1.00 72 1470 476
71.00 72.00 1.00 100 1360 438
72.00 73.00 1.00 164 1400 486
73.00 74.00 1.00 123 1530 506
74.00 75.00 1.00 162 963 319
75.00 76.00 1.00 12 163 60
76.00 77.00 1.00 16 261 82
77.00 78.00 1.00 95 1170 388
78.00 79.00 1.00 37 324 122

88.00 89.00 1.00 143 805 272
89.00 90.00 1.00 83 712 247
--------------------------------------------------------------------


Kau07-02

Two mineralized intervals were intersected in Kau07-02 shown below.

----------------------------------------------------------------------------
Width Gold Palladium Platinum PGE + Nickel Copper
From To metres ppb ppb ppb Au ppb % %
----------------------------------------------------------------------------
38.25 70.00 31.75 115 836 283 1234
----------------------------------------------------------------------------
Including
38.25 61.50 23.25 135 990 333 1458
----------------------------------------------------------------------------
Including
38.25 47.35 9.10 195 1260 442 1897
----------------------------------------------------------------------------
Including
51.35 61.50 10.15 109 1008 318 1436
----------------------------------------------------------------------------
Including
51.35 70.00 18.65 88 738 239 1065
----------------------------------------------------------------------------


----------------------------------------------------------------------------
Width Gold Palladium Platinum PGE + Nickel Copper
From To metres ppb Ppb ppb Au ppb % %
----------------------------------------------------------------------------
80.00 103.00 23.00 72 603 216 891
----------------------------------------------------------------------------


Detailed analyses of Kau07-02 are:

--------------------------------------------------------------------
Width Gold Palladium Platinum Nickel Copper
From To metres ppb ppb ppb % %
--------------------------------------------------------------------
38.25 39.00 0.75 14 1080 371
39.00 40.00 1.00 62 1350 476
40.00 41.00 1.00 242 1820 608
41.00 42.00 1.00 85 557 200
42.00 42.65 0.65 123 905 335
42.65 43.35 0.70 150 496 217
43.35 44.35 1.00 145 1160 411
44.35 45.35 1.00 136 1330 492
45.35 46.35 1.00 764 1220 408
46.35 47.35 1.00 147 2280 783
47.35 48.35 1.00 50 204 73
48.35 49.35 1.00 181 517 194
49.35 50.35 1.00 12 316 118
50.35 51.35 1.00 10 278 99
51.35 52.35 1.00 81 1160 398
52.35 53.30 0.95 65 1080 350
53.30 53.54 0.24 1610 399 110
53.54 54.50 0.96 20 812 237
54.50 55.50 1.00 215 1570 509
55.50 56.50 1.00 125 1320 458
56.50 57.50 1.00 40 641 207
57.50 58.50 1.00 42 1100 328
58.50 59.50 1.00 28 818 260
59.50 60.50 1.00 42 552 184
60.50 61.50 1.00 71 1170 301
61.50 62.50 1.00 159 578 211
62.50 63.50 1.00 44 179 75
63.50 64.50 1.00 18 218 63
64.50 65.50 1.00 17 389 153
65.50 66.50 1.00 31 197 72
66.50 67.50 1.00 23 432 138
67.50 68.71 1.21 55 610 209
68.71 69.03 0.32 442 481 146
69.03 70.00 0.97 27 660 227
--------------------------------------------------------------------

--------------------------------------------------------------------
80.00 81.00 1.00 74 930 318
81.00 82.00 1.00 92 666 222
82.00 83.00 1.00 31 608 240
83.00 84.00 1.00 12 105 46
84.00 85.00 1.00 73 873 282
85.00 86.00 1.00 86 743 250
86.00 87.00 1.00 90 481 161
87.00 88.00 1.00 60 480 158
88.00 89.00 1.00 101 923 333
89.00 90.00 1.00 87 576 204
90.00 91.00 1.00 87 660 246
91.00 92.00 1.00 74 738 273
92.00 93.00 1.00 89 786 300
93.00 94.00 1.00 99 1180 416
94.00 95.00 1.00 17 198 80
95.00 96.00 1.00 229 98 53
96.00 97.00 1.00 79 515 203
97.00 98.00 1.00 51 442 159
98.00 99.00 1.00 37 429 177
99.00 100.00 1.00 56 439 154
100.00 101.00 1.00 90 1080 368
101.00 102.00 1.00 22 296 95
102.00 103.00 1.00 21 618 225

119.12 119.20 0.08 252 12200 5260
--------------------------------------------------------------------


Kau07-03

----------------------------------------------------------------------------
Width Gold Palladium Platinum PGE + Nickel Copper
From To metres ppb ppb ppb Au ppb % %
----------------------------------------------------------------------------
72.00 102.00 30 760 255 255 1271
----------------------------------------------------------------------------
Including
73.35 93.00 19.65 98 973 320 1391
----------------------------------------------------------------------------
Including
73.35 88.00 14.65 105 1066 346 1517
----------------------------------------------------------------------------
Including
81.10 88.00 6.9 115 1330 426 1871
----------------------------------------------------------------------------


Detailed analyses of Kau07-03 are shown below:

--------------------------------------------------------------------
From To Width Gold Palladium Platinum Nickel Copper
metres ppb ppb ppb % %
--------------------------------------------------------------------
72.00 73.35 1.35 10 456 153
73.35 74.70 1.35 30 1490 451
74.70 75.70 1.00 67 736 217
75.70 76.70 1.00 115 1140 403
76.70 77.70 1.00 118 1170 417
77.70 78.70 1.00 37 256 87
78.70 79.90 1.20 92 614 227
79.90 81.10 1.20 220 318 102
81.10 82.00 0.90 29 1020 317
82.00 83.00 1.00 79 698 253
83.00 84.00 1.00 140 1870 650
84.00 85.00 1.00 217 2430 762
85.00 86.00 1.00 125 918 295
86.00 87.00 1.00 122 924 280
87.00 88.00 1.00 83 1420 415
88.00 89.00 1.00 108 304 113
89.00 90.00 1.00 62 366 185
90.00 91.00 1.00 114 757 243
91.00 92.00 1.00 56 1310 416
92.00 93.00 1.00 51 765 253
93.00 94.00 1.00 21 459 167
94.00 95.00 1.00 43 479 191
95.00 96.00 1.00 58 49 24
96.00 97.00 1.00 61 146 61
97.00 98.00 1.00 15 236 118
98.00 99.00 1.00 40 444 158
99.00 100.00 1.00 42 516 175
100.00 101.00 1.00 31 80 36
101.00 102.00 1.00 60 668 244
--------------------------------------------------------------------


The analyses were performed by Labtium Oy, a Finnish Government company
based in Espoo and Rovaniemi, Finland. The laboratory methods used for the
analyses are as follows.

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


PGE mineralization at Kaukua is intimately associated with significant nickel and copper values and is predominantly hosted in pyroxenite and gabbronorite phases of the Kaukua block of the Koillismaa intrusive complex. It is very interesting to note that a narrow sulphide stringer (8 cm wide) was intersected in the pyroxenite near the bottom contact and returned 12200 ppb (12 gms/tonne) Palladium and 5260 ppb (5.2 gms/tonne) Platinum.

The mineralized zone was intersected at approximate true widths and at very shallow depths, and the zone dips gently to the south. This suggests that the zone is amenable for exploitation by open-pit methods. The mineralization appears to have very similar modes of occurrence to the North American Palladium's Portimo platinum deposit located approximately 75 kilometres to the west. Outkumpu and Goldfields have delineated 74.1 million tones grading 1.39 grams PGE + gold (approx. 3.3 million ounces). GTK recognized two types of PGE mineralization at Kaukua; Reefal-type similar to the Bushveld Complex - Merensky Reef, South Africa and the Stillwater Complex, Montana, and the Marginal Series type at the contact of the ultramafic sequence with the Archean basement. Reefal-type mineralization occurs higher up in the ultramafic sequence. This has not been evaluated and tested by Nortec's drilling to-date.

A second phase of core drilling consisting of off-set and deeper down-dip holes is being planned at the present time.

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 Kaukua Project. Mohan Vulimiri is the Qualified Person responsible for the contents of this press release.

About Nortec

Nortec is a mineral exploration and development company based in Vancouver, British Columbia. Nortec is earning a 60% interest, with an option to earn 70% interest, in the Koillismaa - Naranka project. 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. Nortec is also earning a 51% interest with an option to earn 90% interest in the TL nickel property in Northern Labrador. The Company is continuing to evaluate other potential acquisitions.

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.

Click here for a Figure showing drill hole locations and surface geology of the Kaukua layered ultramafic complex:

http://www.ccnmatthews.com/docs/1126NVT_map.pdf

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