Ed Monton
16 years ago
El Nino drills 2.82% Cu over 29 m at Kasala project
2008-10-06 09:53 ET - News Release
Mr. Jean Luc Roy reports
EL NINO VENTURES INC. MAKES SIGNIFICANT COPPER/COBALT DISCOVERY (29 METERS AT 2.82% CU AND 0.34% CO) IN THE DEMOCRATIC REPUBLIC OF CONGO
El Nino Ventures Inc. has made a significant copper/cobalt discovery on its research permit PR 5214, located in southeastern Katanga province in the Democratic Republic of Congo. This area has now been dubbed the Kasala project.
The discovery was made during the course of the company's 10,000-metre reverse circulation (RC) drilling program, when an RC drill hole, MDB-023, was completed in the central northern area of PR 5214.
Company geologists reported the presence of malachite mineralization over a wide interval in the drill cuttings from this hole. MDB-023 (minus-45 degrees) ended at 97 m due to difficult ground conditions.
Samples from MDB-023 were collected using strict quality controls and were then dispatched to ALS Chemex Laboratories in Johannesburg, South Africa, for sample preparation and assay. Analytical results received from ALS Chemex indicate a 29 m intersection grading 2.82 per cent Cu between 17 and 46 m, which includes an intersection of 4.11 per cent Cu and 0.50 per cent Co between 21 and 26 m.
Drill highlights of hole MDB-023 can be found at the company's website.
Since the completion of hole MDB-023, an additional 47 holes have been drilled in the Kasala area, 19 diamond drill holes (DDH) and 29 reverse circulation holes (RC). Company geologists report visible malachite mineralization (ranging from weak to very strong over varying thicknesses) in 31 of the 48 holes drilled in this area. The strike length of this discovery stands at approximately 800 m at present. Drilling has been halted for the time being in order for the company to compile and analyze the substantial assay data which are expected to be received over the next four to six weeks.
An induced polarization (IP) ground geophysical survey is now under way in the Kasala area to trace possible extensions of the mineralized zone. All information gathered over the next six to eight weeks will be compiled and analyzed by the company's technical team to plan additional drilling in this area. Remaining samples from the other mineralized drill holes completed in this area are being shipped to the ALS Chemex facilities in Johannesburg where they will be analyzed. The company has requested that ALS Chemex perform priority analysis of these samples.
Research permits 5215 and 5217
Two other target areas on PR 5215 and PR 5217, respectively, were tested during the company's 10,000 m RC scope drilling program without significant results. Thirty RC holes totalling 3,215 m were drilled on PR 5217 and 23 RC holes totalling 1,995 m were drilled on PR 5215. Analytical results have been received from ALS Chemex for 21 of the 32 holes drilled on PR 5127 and for five of the 23 holes drilled on PR 5215 with no significant results reported. Analytical results are awaited for the remaining 29 drill holes. No further drilling is currently planned for on these two research permits. The company will compile all results from this year's campaign and plans further geochemical and geophysical surveys to generate new targets on these two permits.
Jean Luc Roy, president and chief executive officer of El Nino, states: "This discovery on our Kasala project is very significant and we feel that when all assay results are returned the company will have a substantial project to work on, over the next drill season. The grades and thicknesses on our findings are very encouraging and we look forward to sharing results from other drill holes on the Kasala project, over the next four to six weeks."
The content of this press release has been reviewed by Benoit M. Violette, Geo, consulting geologist and the qualified person under NI 43-101.
DRILLING SUMMARY -- KASALA PROJECT
Hole Id Depth (m) From (m) To (m) Interval (m) Copper (Cu) Cobalt (Co)
MDB-DD-006 150.0 Assays pending
MDB-DD-007 195.7 Assays pending
MDB-DD-008 122.3 Assays pending
MDB-DD-009 128.0 Assays pending
MDB-DD-010 150.7 Assays pending
MDB-DD-011A 109.0 Assays pending
MDB-DD-011B 144.8 Assays pending
MDB-DD-012 146.8 Assays pending
MDB-DD-013 150.0 Assays pending
MDB-DD-014 150.0 Assays pending
MDB-DD-015 250.0 Assays pending
MDB-DD-016 187.3 Assays pending
MDB-DD-017 161.3 Assays pending
MDB-DD-018 167.3 Assays pending
MDB-DD-019 213.0 Assays pending
MDB-023 97.0 17 97 80 1.42% 0.13%
including 17 46 29 2.82% 0.34%
including 21 26 5 4.11% 0.50%
MDB-024 53.0 Assays pending
MDB-025 100.0 Assays pending
MDB-026 47.0 Assays pending
MDB-027 100.0 Assays pending
MDB-028 100.0 Assays pending
MDB-029 89.0 Assays pending
MDB-030 100.0 Assays pending
MDB-031 56.0 Assays pending
MDB-032 96.0 Assays pending
MDB-033 100.0 Assays pending
MDB-034 100.0 Assays pending
MDB-035 100.0 Assays pending
MDB-036 45.0 Assays pending
MDB-037 61.0 Assays pending
MDB-038 100.0 Assays pending
MDB-039 73.0 Assays pending
MDB-040 100.0 Assays pending
MDB-041 100.0 Assays pending
MDB-042 100.0 Assays pending
MDB-043 100.0 Assays pending
MDB-044 100.0 Assays pending
MDB-045 83.0 Assays pending
MDB-046 89.0 Assays pending
MDB-047 85.0 Assays pending
MDB-048 100.0 Assays pending
MDB-049 100.0 Assays pending
MDB-050 109.0 Assays pending
MDB-051 149.0 Assays pending
MDB-052 77.0 Assays pending
MDB-053 83.0 Assays pending
MDB-054 150.0 Assays pending
MDB-055 150.0 Assays pending
Ed Monton
16 years ago
El Nino to begin diamond drilling at DRC project
2008-05-13 06:24 MT - News Release
Mr. Jean Luc Roy reports
EL NINO VENTURES DRC EXPLORATION PROGRAM UPDATE
El Nino Ventures Inc. has provided an update on the continuing exploration program that commenced on April 14, 2008.
Since commencing reverse circulation (RC) drilling operations on PR5217 on April 14, 2008, El Nino Ventures has completed 11 RC holes totalling 925 metres over an area of prospective rock formation of the Mines Group. This area was previously tested during El Nino Ventures' 2007 RC drilling campaign -- one of the four holes drilled in this area during the 2007 program (ANCU-001) intercepted 10 metres of 3.51 per cent copper. The 2008 campaign is continuing with holes that had been planned before heavy rains forced an early end to the 2007 program. An additional seven RC holes are planned for this area.
The RC drill will next move to the western central area of PR5217 where regional soil sampling completed during the rainy season has identified a 2.5-kilometre-long copper anomaly along an east-west-trending fault identified by regional mapping. A minimum of eight RC drill holes are planned to test this soil anomaly and structural corridor to depths of approximately 100 m. Several diamond drill holes are also planned to assess this structure at depth. The diamond drilling program is planned to start this week, when a diamond drill rig from Boart-Longyear mobilized to PR5217.
Other near-term activities part of the program, include a 133 line km ground magnetometer geophysical survey in the southeastern corner of PR5215 to aid in tracing numerous crosscutting structures identified from interpretation of the 2007 Heli-Mag geophysical survey that El Nino Ventures had flown over four of the company's permits. Upon completion of the ground magnetic survey and interpretation of the results of this program, it is planned to drill test several targets in this complex structural area which hosts prospective Roan supergroup strata.
An auger drill program will be undertaken on PR5214 to obtain soil samples under marshy grounds which cover areas mapped as Roan strata. The auger drill will be used to collect soil samples from 12 to 15 metres depth, below the alluvial soils which might otherwise mask the geochemical signature of any metal deposits under these marshes.
Regional soil sampling on PR2461 will start on Saturday, May 3, and is expected to take approximately seven to 10 days to complete.
El Nino's DRC exploration manager, Allan Lines, states that: "It is a busy and exciting time for us. We are once again drilling with Titan who is doing a fantastic job for us on the RC. Our diamond drill from Boart-Longyear will be on site early next week and we will start testing known mineralized structures at depth. Our multidisciplinary approach is continuing to generate new targets for us -- the soil geochem and our airborne geophysics have identified a number of new areas that we plan to test with the RC drill this year."
The company also has received about 75 per cent of the outstanding drill results from its 2007 drill campaign. Results from 44 shallow reverse circulation holes show some mineralization up to 13,750 parts per million Cu and 3,960 ppm Co over narrow intervals. These holes totalled 2,320 metres of drilling.
These results are west of the 2.5-kilometre anomaly identified by the soil geochemical survey and the airborne geophysical survey.
Jean Luc Roy, president and chief executive officer, states: "The 2008 drill program is well under way and the company is looking to expand on the results it published to date and also to test drill several significant areas which have yet to be tested. The interpretation work done by our technical team gives us a much more focused approach for the 2008 program. Work done in 2007 has identified a high-grade copper zone and we will look to expand that zone in the next few months. We are also very encouraged by the results from our geochemical soil sampling campaign carried out during the rainy season. The company has purchased a prep laboratory facility and we hope that this will cut down the turnaround time in getting results."
Benoit Violette, PGeo, is the qualified person and has reviewed the contents of this press release.
We seek Safe Harbor.
pplatte9
16 years ago
El Nino Resumes Drilling for High Grade Copper in DRC
By James West
The rainy season is drawing to a close in the Democratic Republic of Congo (DRC), and that means its time to get the drills turning again on El Nino Ventures' (TSX.V:ELN) 350 square kilometer concession.
According to Jean Luc Roy, CEO of El Nino:, "Based upon the interpretation of our recently completed airborne geophysical survey, we believe we may be on the edge of a mineralized system which extends for over 2.8 kms in strike length. We will drill test the extent of this anomaly starting in April. We have also identified four other geophysical anomalies on our other permits which will be tested in the forthcoming drill program."
The DRC Copperbelt hosts multiple world class deposits and the exploration potential is considered one of the best in the world.
For example, one June 12, 2007 Anvil Mining Limited (TSX:ABM) based in Montréal Canada announced intersections of 10.9% copper over 21 m, 8.9% copper over 36 m, and 8.6% copper over 31 m.
The Katanga province of the DRC has more than 10% of the world's copper and many of the world's best deposits. All of Anvil's copper projects and operations are based on resources with average grades of more than 4% copper.
As a result of the recent work on the Kinsevere project, Anvil has established the following Proven and Probable Mineral Reserve estimate for the combined Stage I and II pits as at April 30, 2007.
Proven and Probable Mineral Reserve mined in Stage I is estimated at 3,726,000 tonnes, of which 917,000 tonnes will be processed through the Stage I plant (Heavy Media Separation ("HMS") and Electric-Arc Furnace ("EAF")), with the remaining ore being stockpiled for later processing through the Stage II plant (SXEW).
The Kinsevere Mineral Resource estimates as at December 31, 2006, which appeared in Anvil's April 23, 2007 news release, are as shown below:
Tiger resource is an Australian-based mining company, recently announced an intersection of 122 m grading 7% copper.
These companies both trade at substantially higher levels than does El Niño. In fact Anvil Mining recently announced a $201 million bought deal financing.
The DRC Copperbelt hosts multiple world class deposits and the exploration potential is considered one of the best in the world. Major mining companies such as Phelps Dodge and First Quantum Minerals are now in construction on world class ore bodies. Several junior companies are now actively exploring for copper and other minerals in the DRC..
Under the terms of the Agreement El Niño purchased a 70 percent interest in the Joint Venture with an option to acquire up to 90 percent of the project by coming to an agreement with our partners, over time. An initial cash payment of $250,000 USD will be made when all regulatory approvals have been received and upon titles of the properties being transferred to the new SPRL Congolese Company that is now being formed.
Additional cash payments totaling $300,000 USD will be made in three annual installments. 300,000 shares of El Niño will initially be issued to GCP Group upon regulatory approval and 400,000 additional shares will be issued over a three year period to the GCP Group. El Niño will fund all exploration work but will retain the services of the CGP Group in an agreement to be negotiated at a later date to support administrative and logistical aspects of the project.
El Nino recently appointed Allan Lines as Exploration Manager for the company's DRC operations.
Mr. Lines has worked in the mineral exploration industry for the past 13 years, exploring for VMS base metals in eastern Canada, greenstone gold exploration in West Africa and, for the past several years has been managing exploration programs in the DRC Copperbelt for a TSX/ASX listed copper producer and a NYSE listed major company.
Mr. Lines started working in the Democratic Republic of Congo in early 2005. Since then he designed and supervised geochemical sampling programs, advised on project acquisitions, authored baseline environmental studies and planned and managed RC and diamond drilling programs totaling well over 50,000 meters.
In addition to mineral exploration, Mr. Lines has several years experience in the field of mine permitting, including managing Environmental Impact Assessment Studies and public consultation programs.
Mr. Lines commented: "I am excited to be joining El Nino Ventures Inc. at this time -- the vast experience of the management team in doing business in the DRC and the company's project portfolio puts the company in a great position. I am eager to begin the 2008 drill campaign and maximize the value of the exploration properties."
Mr. Jean Luc Roy, President of El Nino Ventures states:" I am very pleased to have Mr. Allan Lines join our team in the DRC. We are very fortunate to have on board a geologist with such valuable DRC Copperbelt experience. With Allan's technical background and management's very substantial experience in the DRC the company is in a prime position to maximize the value of its highly prospective exploration permits in the DRC. Allan will work closely with his local technical team and he anticipates the start of our 2008 drill program for mid-April. "
Ed Monton
16 years ago
El Nino Ventures 25,000 meter drill program underway in the Democratic Republic of Congo (DRC)
VANCOUVER, Apr 14, 2008 (Canada NewsWire via COMTEX) --
-------------------------------------------------------------------------
-
First Reverse Circulation (RC) drill rig operational on April 12.
-
Two more drill rigs slated to begin on May 1.
-
Follow-up drilling on high grade copper zone (3.5% Cu over 10 meters)
started.
-
Four new very prospective zones to be drill tested over the next
5 months.
-------------------------------------------------------------------------
TSX.V: ELN
OTCBB: ELNOF
Frankfurt: E7Q
El Nino Ventures Inc. ("El Nino") (ELNOF) is pleased to announce that their 2008, 25,000 meter drill program is underway in the DRC.
The company will drill a minimum of 25,000 meters over the next 5 months. The Company will do a minimum of 12,500 meters of RC drilling and 12,500Â meters of Diamond Drilling. On April 12, 2008 the first RC drill rig started drilling the high grade copper zone where the company reported 3.5% Cu over ten meters in its initial drill program.
On May 1, 2008 two more drill rigs will be in operation. One of the drill rigs will be a diamond drill and this rig will focus on the copper showing now being drilled with the first RC rig and drill test the full length of the anomaly which runs just over 3 kilometers. When that drill rig is in operation the RC drill rigs will drill test 4 other areas of interest which have yet to be drill tested. These areas are located on our land position.
Mr. Allan Lines, our Exploration Manager, has prepared the 2008 exploration and drill program in conjunction with Caracle Creek International Consulting Inc. (CCIC). CCIC was retained by El Nino to review all the technical data and from that review the 2008 exploration program has been developed.
On our new acquisition announced in February 2008, airborne geophysics will be flown in the very near term, geochemical sampling will be carried out and later on in the season and we expect to drill test this permit.
Jean Luc Roy, President of El Nino states, "The dry season in the DRC is upon us and I am very pleased to announce the start of our extensive exploration and drilling program for 2008. We will follow up on promising results already obtained and we look forward to drill test other areas that show strong indicators on our permits. We are embarking on a very ambitious program and we will keep everyone up-to-date on the progress of our efforts in the DRC."
About El Nino Ventures Inc.
El Nino Ventures is a junior exploration company, whose corporate objective is to revisit former mining regions and apply the latest technologies to advanced stage exploration targets. El Nino has acquired a 70% interest in over 350 square kilometers in the world renowned copper belt in the Democratic Republic of Congo. In addition to our copper project in the Congo, the company has its project with Xstrata Zinc on the Bathurst mining camps and will soon start work on their Ireland properties.
On Behalf of the Board of Directors
("signed")
Jean Luc Roy, President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
Ed Monton
16 years ago
El Nino Ventures Inc. appoints new Independent Director
Last Update: 4/1/2008 8:03:14 AM
VANCOUVER, Apr 1, 2008 (Canada NewsWire via COMTEX) -- TSX.V: ELN
OTCBB: ELNOF
Frankfurt: E7Q
VANCOUVER, April 1 /CNW/ - El Nino Ventures Inc. ("El Nino") (ELNOF) is pleased to announce the appointment of Mr. Damian Towns to its Board of Directors.
Mr. Towns has significant financial expertise in dealing with the public financial reporting of Canadian mining Companies and since October 2006 has been the Chief Financial Officer (CFO) of Coro Mining Corp. A graduate of the University of Otago in New Zealand (Bachelor of Commerce with Honors) and a member of the Institute of Chartered Accountants of New Zealand. For the past eight years, his work has focused on the mining industry. Prior to his current position, Mr. Towns was also the Controller of First Quantum Minerals Ltd. and also an audit manager with PricewaterhouseCoopers LLP in Canada. Mr. Towns has international mining and accounting experience in Africa (including the DRC), South America and New Zealand.
Mr. Jean Luc Roy, President of El Nino Ventures states, "We are pleased to welcome Damian Towns to our Company's Board of Directors. His experience in the mining industry and his understanding of our dealing in the Democratic Republic of Congo (DRC) will further enhance the strength of our Board of Directors. Furthermore Mr. Towns financial experience will be most valuable as we move our projects forward."
Mr. Towns will be granted, subject to regulatory approval, an incentive stock option to acquire 200,000 shares of El Nino Ventures Inc. at a price of $0.60 per share, exercisable for five years under the Company's Stock Option Plan.
About El Nino Ventures Inc.
El Nino Ventures is a junior exploration company, whose corporate objective is to revisit former mining regions and apply the latest technologies to advanced stage exploration targets. El Nino has acquired a 70% interest in over 350 square kilometers in the world renowned copper belt in the Democratic Republic of Congo. In addition to its copper project in the DRC, the company is in the final stage of its exploration project in Bathurst, New Brunswick with Xstrata Zinc. El Nino will also commence drilling on its Irish exploration licenses in the month of April 2008.
On Behalf of the Board of Directors
(signed)
Jean Luc Roy, President and CEO
99fxd
16 years ago
More Good News coming shortly
El Nino Ventures appoints Lines as exploration manager
2008-03-27 08:27 ET - News Release
Mr. Jean Roy reports
EL NINO APPOINTS SENIOR GEOLOGIST TO HEAD ITS EXPLORATION PROGRAM IN THE DEMOCRATIC REPUBLIC OF CONGO
El Nino Ventures Inc. has appointed Allan Lines as exploration manager for the company's exploration in the Democratic Republic of Congo.
Mr. Lines has worked in the mineral exploration industry for the past 13 years, exploring for VMS base metals in Eastern Canada, greenstone gold exploration in West Africa and, for the past several years, has been managing exploration programs in the DRC copper belt for a Toronto Stock Exchange/Australian Stock Exchange-listed copper producer and a New York Stock Exchange-listed major company.
Mr. Lines started working in the Democratic Republic of Congo in early 2005. Since then he designed and supervised geochemical sampling programs, advised on project acquisitions, authored baseline environmental studies, and planned and managed RC and diamond drilling programs totalling well over 50,000 metres.
In addition to mineral exploration, Mr. Lines has several years experience in the field of mine permitting, including managing environmental impact assessment studies and public consultation programs.
Mr. Lines commented: "I am excited to be joining El Nino Ventures Inc. at this time -- the vast experience of the management team in doing business in the DRC and the company's project portfolio puts the company in a great position. I am eager to begin the 2008 drill campaign and maximize the value of the exploration properties."
Jean Luc Roy, president of El Nino Ventures, states: "I am very pleased to have Mr. Allan Lines join our team in the DRC. We are very fortunate to have on board a geologist with such valuable DRC copper belt experience. With Allan's technical background and management's very substantial experience in the DRC the company is in a prime position to maximize the value of its highly prospective exploration permits in the DRC. Allan will work closely with his local technical team and he anticipates the start of our 2008 drill program for mid-April. "
johnlw
16 years ago
El Nino Ventures drills five m of 0.50% Cu in the DRC
2008-03-14 06:39 MT - News Release
Mr. Jean Luc Roy reports
EL NINO VENTURES REPORTS ADDITIONAL DRILLING RESULTS AND UPDATES ON-GOING WORK PROGRAM IN THE DEMOCRATIC REPUBLIC OF CONGO (DRC)
El Nino Ventures Inc. has provided further analytical drill results from the recently completed 6,200-metre reverse circulation drill program on its 70-per-cent-owned research permit 5217 in the Democratic Republic of Congo. Analyses were carried out by ALS Chemex, Johannesburg, South Africa. Quality control procedures were strictly adhered to and included taking drill chip samples directly from the drill return by the project geologist, placing them in sealed bags and sending them directly to ALS Chemex in Johannesburg by air freight, which carried out the preparation and analysis.
The company has received additional assay results from drill hole ANCU-001 which previously reported 3.5 per cent Cu over a 10-metre interval from 12 m to 22 m. Assays for metres 22 to 25 are still pending but results from 25 m to 50 m are as follows:
25 to 30 m: 0.24 per cent Cu
30 to 35 m: 0.36 per cent Cu
35 to 40 m: 0.50 per cent Cu
40 to 45 m: 0.43 per cent Cu
45 to 50 m: 0.35 per cent Cu
These latest results expand the apparent thickness of the mineralized zone to in excess of 35 metres. The company anticipated that the current mineralization, which lies at the margin of a 2.8-kilometre-long geophysical anomaly, will extend along strike as this anomaly is fully drill tested.
The company has also received drill results from holes AN2-001, AN2-002, AN2-003, AN2-006, AN2-008 and AN2-009. These holes were drilled in an area of artisanal workings where workers were formerly mining high-grade cobalt mineralization. This zone is outside the copper zone and is south of the geophysical anomaly. Drilling completed to date in this area has not been ideal because it was done in the rainy season and wet conditions prevented the company from being able to properly assess the cobalt potential of this area because of difficulties in accessing and collaring holes within the workings. Also significant sample loss was experienced due to the extremely wet drilling conditions. ELN plans to fully test the cobalt potential of this zone once field conditions permit.
Significant values intersected in the above holes are in the table.
AN2-001 0 to 1 m 0.72% Co and 0.50% Cu
35 to 51 m Values ranging from 180 ppm to 0.53% Co and 130ppm
to 0.4% Cu
AN2-002 37 to 54 m Values up to 0.14% Co and 0.21% Cu
AN2-008 15 to 36 m Values from 630 ppm to 0.29% Cu
AN2-009 10 to 23 m Values from 0.12 ppm to 0.24% Cu
Jean Luc Roy, president of El Nino, stated: "I am very pleased with the additional results from hole ANCU-001 as they provide us with an indication of the substantial thicknesses of copper mineralization that may be found in this area. Based upon the interpretation of our recently completed airborne geophysical survey, we believe we may be on the edge of a mineralized system which extends for over 2.8 km in strike length. We will drill test the extent of this anomaly starting in April. We have also identified four other geophysical anomalies on our other permits which will be tested in the forthcoming drill program.
"Although the results from the initial drilling in the artisanal area are lower than expected, we will redrill test this area in the dry season when we will be able to drill right through this artisanal zone. We were unable to do this in the initial drilling as we had to locate the drill collars further back than we had intended because of ground conditions. This zone was high graded for cobalt by artisanal workers and extends over an area 450 metres long and 60 metres wide.
"At present the geochem survey results are being compiled and analyzed by CCIC and our technical team and we will have a finalized exploration program for 2008 by the end of the month and anticipate our 25,000-metre drill program to start by mid-April."
The content of this press release has been reviewed by Benoit M. Violette, PGeo, consulting geologist and the qualified person under National Instrument 43-101.
We seek Safe Harbo
Ed Monton
16 years ago
NP says Africa offers El Nino, others virgin ground
2008-03-03 05:14 MT - In the News
Also In the News (C-FM) First Quantum Minerals Ltd
The National Post reports in its Saturday, March 1, edition that in Africa, a company like First Quantum Minerals can get its Lonshi mine operational in less than a year after a discovery is made. The Post's Peter Koven writes that First Quantum president Clive Newall says, "We wouldn't want to be in the U.S., for example, because the permitting requirements are so severe." Mr. Newall says: "It takes 10 to 20 years to take a mine into production. We just don't operate like that." Another simple truth is that it is much easier to find resources in Africa. In Canada, the easy stuff has been found. Canadian companies now develop low-grade projects with marginal economics. The most notorious is Teck Cominco's Galore Creek. That British Columbia debacle was halted late last year after costs spiralled out of control. In Africa, there are highly prospective regions that have had no serious exploration for decades, or ever. "You're looking at virgin ground that's almost untouched. It's finally being explored properly," says El Nino Ventures chief Jean Luc Roy. For investors, it comes down to picking your poison. Either go for the geological risk of Canada or the political risk of Africa.
johnlw
16 years ago
El Nino DRC lands not affected by gov't review
2008-02-21 07:12 MT - News Release
Mr. Jean Luc Roy reports
EL NINO VENTURES UPDATE ON DEMOCRATIC REPUBLIC OF CONGO PROJECTS
El Nino Ventures Inc. has responded to mining contracts review by the Democratic Republic of Congo and provided a corporate update.
This release is in response to the issues that were addressed at the Indaba Mining Conference in Cape Town, South Africa, on Feb. 5, 2008, pertaining to the review by the government of approximately 60 mining contracts in the Democratic Republic of Congo (DRC).
El Nino Ventures' land position is not affected by this review of mining contracts, and the company will continue to conduct business in the DRC under the rules and regulations of the new mining code that came into effect in 2003.
Since El Nino acquired its five research permits, covering more than 350 square kilometres in the DRC, it has made it abundantly clear that it will fast-track its exploration efforts in order to identify economic mineralization on its properties. El Nino president Jean Luc Roy stated: "Our first set of assay results, recently reported from our initial drill program, have demonstrated that we are in a highly mineralized area. Additional assay results from our drill program will be reported when received. Our 2008 drill program, scheduled to commence in April, 2008, is now being finalized."
El Nino's most recent acquisition in the DRC was reported in Stockwatch on Feb. 4, 2008. This property is within six kilometres of Anvil Mining's Kinsevere copper project, and encompasses over 54 square kilometres, highly prospective for copper mineralization. With the assistance of Caracle Creek International Consulting (CCIC), a professional geological consulting company providing a wide range of geological and engineering services to the mineral exploration and mining industry, El Nino will implement a comprehensive exploration program on this new acquisition in 2008.
In addition, the company's plans for 2008 will include an analysis of the geochemical data from the recently completed soil sample survey and 2,600-line-kilometre Heli-Mag geophysical survey completed on research permits 5214, 5215, 5216 and 5217. CCIC will also be instrumental in assisting El Nino's team of experienced geologists in the DRC, in delineating drill targets for the upcoming minimum 25,000-metre drill campaign planned on its initial research permits. This drill program will commence in April, 2008.
With $7.9-million in the treasury, El Nino is fully financed to carry out its 2008 exploration program in the DRC and will continue to release results from the previous drill program as they become available.
Mr. Roy, president and chief executive officer of ELN, also stated: "El Nino Ventures' land position in the DRC is not under review as we are not under a contract agreement but under the rules and regulations of the mining code of the DRC. The review process that is taking place is only reviewing mining contracts that were signed with the state-owned mining company. Our research permits were granted under the new mining code and we have no contractual agreements with state-owned companies. We are very comfortable working in the DRC and will continue to work with the governmental authorities and operate in accordance with the legislation in place."
We seek Safe Harbor.
Ed Monton
16 years ago
El Nino Ventures to drill Irish Licences
Last Update: 2/11/2008 8:04:29 AM
VANCOUVER, Feb. 11, 2008 (Canada NewsWire via COMTEX) -- El Nino Ventures Inc. ("El Nino") (ELNOF) is pleased to report that it has recently been granted two additional Prospecting Licences within the Republic of Ireland. The Company now holds a total of thirteen Prospecting Licences overlying more than 450 square kilometres of the Central Carboniferous Limestone Basin.
Ireland's Lower Carboniferous limestones host important, very good grade, zinc and lead mineralization including the three mines currently in operation. These mines contribute a substantial proportion of Western Europe's zinc and lead concentrate requirements.
El Nino has recently received a report from CSA Group Ltd, the Company's Irish geological consultants, recommending an initial 4400m diamond drill program targeting coincident stratigraphic/structural targets on several of the licences.
The Company is now in the process of finalizing drill collar locations and is negotiating a drill contract with the objective of commencing drilling on or before May.
El Nino President Jean Luc Roy said "We are pleased with our landholding position in this highly prospective base metal area and look forward to our initial drill program, designed to test very specific targets on these licences".
About El Nino Ventures Inc.
El Nino Ventures is a junior exploration company, whose corporate objective is to revisit former mining regions and apply the latest technologies to advanced stage exploration targets. El Nino has acquired a 70% interest in over 350 square kilometers in the world renowned copper belt in the Democratic Republic of Congo. In addition to our copper project in the Congo, El Nino is currently in the middle of a 25,000 meter drill program on the Bathurst Mining Camp via an option/ joint venture agreement with Xstrata Zinc.
On Behalf of the Board of Directors
(signed)
Jean Luc Roy, President and CEO
xio
16 years ago
latest ELN project with "Mimeco AG" ?
http://www.moneyhouse.ch/u/mimeco_ag_CH-170.3.026.773-2.htm
Firma: Mimeco AG
(CH-170.3.026.773-2)
Status: Aktiv
Rechtsform: Aktiengesellschaft
Sitz: Zug
12.01.2004 (315)
Mimeco AG, Sitz: Zug, Handel mit Rohstoffen, Aktiengesellschaft (SHAB Nr. 235 vom 05.12.2003, S. 18, Id. 2015430).
Eingetragene Personen Neu: Forsyth, Mark, Heimat: Vereinigtes Königreich, in Buonas, Mitglied mit Kollektivunterschrift zu zweien.
Gelöscht: [Faust, François, Heimat: Staffelbach, in Cham, Mitglied mit Kollektivunterschrift zu zweien].
SHAB: 235 / 2003 vom 05.12.2003 (Seite 18)
01.12.2003 (11520)
Mimeco AG, Sitz: Zug, Domizil: Baarerstrasse 53, 6304 Zug, Aktiengesellschaft (Neueintragung). Statutendatum 28.11.2003.
Zweck: Handel mit Rohstoffen, Erbringung der damit zusammenhängenden Finanz- und Dienstleistungen für eigene und fremde Rechnung sowie Beteiligung an und Erwerb von Unternehmungen; kann immaterielle Rechte erwerben, verwalten, bewirtschaften und veräussern, Liegenschaften erwerben, verwalten und veräussern sowie Tochtergesellschaften gründen.
Aktienkapital: CHF 100'000, Liberierung: CHF 100'000, 100 Inhaberaktien zu CHF 1'000.
Publikationsorgan: SHAB.
Eingetragene Personen: PricewaterhouseCoopers AG, in Zürich, Revisionsstelle; Mehra, Ashwath, Heimat: Vereinigtes Königreich, in Zug, Präsident mit Kollektivunterschrift zu zweien; Müller, Thomas, Heimat: Walchwil, in Walchwil, Mitglied mit Kollektivunterschrift zu zweien; Faust, François, Heimat: Staffelbach, in Cham, Mitglied mit Kollektivunterschrift zu zweien. [/quote]
for further Mimeco properties see here:
http://www.miningcongo.cd/liste_des_titres_miniers_octroyes_2005.pdf
Page 22
sumisu
16 years ago
El Nino Ventures Inc. acquires new Copper Project in the Democratic Republic of Congo (DRC)
Monday February 4, 8:00 am ET
http://biz.yahoo.com/cnw/080204/el_nino_drc_project.html?.v=1
TSX.V: ELN OTCBB: ELNOF Frankfurt: E7Q
<< - Company acquires initial interest of 70 percent in PR 2461 in the DRC copperbelt. - Research permit is located just east of the Kinsevere Project of Anvil Mining. - Option to earn 85 percent. >>
VANCOUVER, Feb. 4 /CNW/ - El Nino Ventures Inc. ("El Nino") (TSX.V: ELN; OTCBB: ELNOF; Frankfurt: E7Q) is pleased to announce an agreement with MIMECO AG (MIM) to acquire a 70 percent interest in PR 2461 in the DRC under the terms specified below. El Nino will be the Operator and will be responsible for all exploration costs. This Agreement is subject to regulatory approval.
This Permit is situated just east of the Anvil Mining Kinsevere project. It has excellent accessibility and its geology makes this a highly prospective copper and cobalt project.
This Permit, which covers more than 55 square kilometers, is principally underlain by the highly prospective Roan Formation, which hosts most of the important copper deposits in the DRC Copperbelt. Comprehensive airborne geophysical surveys and geochemical surveys are planned for 2008. The Company anticipates it should also be in a position to carry out initial drilling in this area during 2008.
To view map click here:
http://www.elninoventures.com/s/NewsReleases.asp?ReportID(equal sign)284421
Jean Luc Roy, President of El Nino states, "We look forward to working with MIM in maximizing the potential of this research permit. This acquisition fits into our overall corporate strategy to selectively increase our land position in the DRC through the acquisition of quality exploration ground. Our objective is to build a mining company by delineating proven reserves and placing them into production. We are now finalizing our 2008 exploration program which will include a substantial drill program planned to test several targets delineated on Research Permit 5217 during the 2007 exploration program. We also plan to drill test other areas of our landholdings which we have prioritized from the analysis of our airborne geophysical surveys.
Terms and Conditions of Agreement:
Under the terms of this Agreement El Nino acquires an initial 70 percent interest in PR 2461 by issuing 200,000 shares of El Nino to MIM, subject to regulatory approval and El Nino making an exploration commitment of $1,500,000 over three years. $500,000 must be spent in the first year of the agreement. A new SPRL Congolese company will be created whereby El Nino will hold a 70 percent interest and MIM a 30 percent interest. El Nino has the right at anytime to increase its interest to 85 percent by paying MIM the sum of $15,000,000. The issuance of shares to MIM will be made once the title of PR 2461 is transferred into the new SPRL company which is now being incorporated.
About El Nino Ventures Inc.
El Nino Ventures is a junior exploration company, whose corporate objective is to revisit former mining regions and apply the latest technologies to advanced stage exploration targets. El Nino has acquired a 70% interest in over 350 square kilometers in the world renowned copper belt in the Democratic Republic of Congo. In addition to our copper project in the Congo, El Nino is currently in the middle of a 25,000 meter drill program on the Bathurst Mining Camp via an option/joint venture agreement with Xstrata Zinc.
On Behalf of the Board of Directors
(signed)
Jean Luc Roy, President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
CUSIP No. 28335E-10-6
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission. This email should not be construed as an offer to buy or sell securities of this company.
For further information
Tel: (604) 683-4886, Toll Free: 1-877-895-6466, Fax: (604) 683-4887, Email: info@elninoventures.com, Or visit: www.elninoventures.com
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Source: El Nino Ventures Inc.
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