NITINAT Advances Carscallen Property
(firmenpresse) - NITINAT Advances Carscallen Property
March 19th, 2018
TSX Venture Exchange: NZZ
Frankfurt: 04UI
Nitinat Minerals Corporation is pleased to announce that it is furthering the Technical Analysis of its Carscallen Gold project, located in the Carscallen Township in Ontario. The technical analysis, along with planned state of the art Geophysics will identify the drill targets. The area covered by the property is of particular interest in that surface exploration to date on the properties has shown the existence of historic surface mining and sampling.
Based on available but pre-exploration data accumulated by the Company, historical data, and professional expertise, the Company has decided to expand its claim holdings to adjacent properties located along a portion of its the western boundary of its initial claims. That acquisition has quadrupled the area to be brought under exploration.
The items which make the properties attractive as exploration targets include publicly reported but not, as yet scientifically verified, factors. Those factors include surface grab samples with reported but unmapped and unconfirmed promising values along with evidence of, but again unconfirmed and unmapped, past shallow mining activity.
The Company is rapidly moving toward the professional exploration phase, the following preliminary technical appraisal is the initial professional summary from the companies Q.P. from which an initial work plan will be prepared.
Eastern Extent of the Property Package: Regional geological information for the eastern area of the property package includes a 70m to 230m strike extent mafic intrusion, possible structurally controlled, with a NNW-SSE orientation and about 200m wide, tapering towards the extremities. Three small historical shafts are found within this area of the property package and appear along strike with the regionally mapped geological units. The property has unverified grab sample results, with supporting photographic evidence of structurally controlled vein quartz intrusions as well as evidence of vein swarming.
Central Strike Extent: There is an approximately 10 km strike extend without any geological information between the eastern and western areas.
Western Extent of the Property Package: In this area a number of unverified sampling positions have been identified from historical records. The geological interpretation related to these sampling positions has never been described however there appears to be alignment of sampling positions suggesting structural control. The work program should include the mapping and interpretation of the gold hosted sampling positions with the intention of updating the geological model for more targeted exploration activities.
Geological Model: Pioneering work done on a geological model for the region has been developed on neighbouring mines. The following geological setting is proposed:
1. The TWM (Timmons West Mine) is located along a NE trending contact zone. The contact zone is within the interface between the southern metavolcanics rock, separated from the northern metasediments by an unconformity.
2. Steeply dipping unconformities are associated with folding and shearing and may be associated with gold mineralization.
3. In addition to the mineralized shear zone, there are pyroxenite-rich as well as synite-type intrusives.
4. The mineralization is also associated with multi-pulse quartz-carbonate-tourmaline and albite veins with sulphide (pyrite) alteration haloes. Disseminated pyrite mineralization is associated with these veins.
Mr. Herb Brugh states, the Company is very pleased to be moving forward on the technical side of things, and with the team that Nitinat has assembled, we are very confident that the Carscallen Gold project will be fully exploited to further increase shareholder value.
The Carscallen Gold Property is located 25 kms west of the City of Timmins and 7 kilometers north of the Lakeshore Golds Timmins Mine which produced an aggregate of 185,600 ounces in 2014.
The Qualifed Person for the Carscallen Property is John A. Gould, B.Sc. University of the Witwatersrand (Geology, Physics and Chemistry) BSc (Hons) (Geology) SACNASP Registration: 400022/10
Corporation contact:
Herb Brugh, President and Director Tel: 416.216.0964
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release 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.
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Datum: 20.03.2018 - 07:19 Uhr
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