Nitinat Provides Progress Report On Carscallen And Jasper Properties
April 23 2018 - 4:30PM
Nitinat Minerals Corp. (the “Company”) (TSXV:NZZ)
(Frankfurt:04U1) is pleased to announce that the work on its 100%
owned Carscallen Property is underway and is going as planned. The
Corporation will be providing details on an ongoing basis as the
work progresses and details become available.
The Corporations is also pleased to announce the
initiation of a work program on its 100% owned Jasper Property
which is located inland from the western shore of Vancouver Island,
B.C., roughly 80 kilometers Northwest of Victoria, lying in the
area of Nitinat Creek and Lake and is accessed by logging roads
coming in from the North. The Jasper Property consists of the Jas 3
legacy mineral claim and eight unnamed cell mineral claims that
together comprise nine contiguous claims that cover 3978 hectares.
The Jasper Property is 100% owned and operated by the Company.
The Highly Visible mineralized showings on the
Jasper claims lie in a rugged forested area accessible by logging
roads. The item of significance which set the claim area apart is
that, when cuts were being made for the logging roads, significant
showings of copper sulfide mineralized rocks occurred.
The Company will be proceeding with a work
program immediately and has contacted professionals to provide
modeling and 3D inversion of the airborne magnetic and
electromagnetic data was completed for a portion of the Jasper
Property. Also, magnetic inversion established low susceptibility
bodies coincident with polymetallic MINFILE occurrences surrounded
by narrow, vertical high susceptibility pipes. Electromagnetic
inversion established a 2 layer resistivity model - thick high
resistivity layer from surface to 300-600 m. depth overlying a
thin, sub-horizontal to undulating low resistivity (high
conductivity) layer. The deep high conductivity layer could
represent a sedimentary, replacement, epithermal or metallic
sulphide horizon, and has never been tested by drilling. Two to
four deep (750 m.) diamond drill holes are proposed to test the
sub-horizontal conductive layer where it is coincident with the
area of low magnetic susceptibility and underlies
copper-zinc+/-lead-silver-gold soil geochemical anomalies and 14 of
15 known polymetallic mineral occurrences. Also, downhole EM
surveys will be included as part of the drilling program.
Prior to the drilling program, a property-wide
isopach map of the conductive horizon will be generated by a
qualified and experienced geophysicist to better interpret the
lateral extent, depth and varying thickness of that horizon.
“The Corporation is highly pleased with the
progress on both properties.” Says Herb Brugh, President of the
Company. “We are looking forward to getting the work done as
quickly as possible and to a great drilling season”.
The Qualified Person for the Carscallen Property
is John A. Gould, B.Sc. University of the Witwatersrand (Geology,
Physics and Chemistry) Potchefstroom University of Higher Christian
Education: BSc (Hons) (Geology) SACNASP Registration:
400022/10.
The Qualified Person for the Jasper Property is
Jacques Houle, B.A.Sc., University of Toronto – Geological
Engineering – Min. Ex. Option P.Eng. since 1989 Association of
Professional Engineers and Geoscientists of B.C.
Corporation contact:
Herb Brugh, President and DirectorTel:
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.
Three photos accompanying this announcement are available at
http://resource.globenewswire.com/Resource/Download/b591cc3a-393e-498e-80e7-d9ced695bd8e
http://resource.globenewswire.com/Resource/Download/ea967a1d-c95c-4265-9482-db5372b826bd
http://resource.globenewswire.com/Resource/Download/671e92b5-bf62-4cdc-82f9-d354ecf1f1a9
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