TORONTO, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Mink Ventures Corporation (TSXV:MINK) ("Mink” or the "Company") today announced that it has been selected to receive an Ontario Junior Exploration Program ("OJEP”) grant for $89,160 from the Government of Ontario to support ongoing exploration efforts on its Warren Ni Cu Co Project. The Warren property covers 1,130 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario (see Figure 1) and is just south of Mink's Montcalm Ni Cu Co project.
"Ontario's competitive advantage to be a leading global supplier of critical minerals lies in our commitment to investing in exploration,” said George Pirie, Minister of Mines. "Through our government's Ontario Junior Exploration Program (OJEP), this investment in Mink Ventures Corporation's Warren Ni Cu Co project will help facilitate the exploration of critical minerals, like nickel, copper, and cobalt, which are needed for the made-in-Ontario supply chain that will fuel the future.”
"We are very pleased to acknowledge the financial support of the Government of Ontario with this non-dilutive capital from the OJEP grant, that supports our exploration efforts for nickel, copper, and cobalt at Mink's Warren project,” said Natasha Dixon, President & CEO.
Pursuant to the OJEP grant, Mink will receive $89,160 to cover eligible exploration costs on the Warren project. Mink was selected for the grant under OJEP's critical minerals stream, which is aimed at facilitating exploration for critical minerals within Ontario.
The Company completed a summer exploration program focused on a series of historical occurrences designated the Shaft Zone, SW Zone, D Zone, and North Zone. The Shaft Zone, SW, and D Zone are associated with a 1.5 km geophysical trend (see Figure 2). The North Zone, a separate occurrence, was also evaluated in the NE portion of the patents.
Sampling on the various historical occurrences confirmed the presence of extensive zones of mineralization with excellent base metal values. Nickel values of interest on the mineralized zones ranged from 0.310% to 0.967% Ni, and significant copper ranged from 0.365%-0.773% Cu. The North Zone also hosted interesting cobalt grades ranging from 0.0573% to 0.0738% Co. (See press release September 4, 2024 for full details.)
A diamond drill program to test these zones is expected to commence in the next few weeks, as soon as freeze up occurs, when the Company can most cost effectively test several of these zones concurrently. Upon completion of this drill program, the Company will have completed the exploration expenditures required to earn its 100% interest in the Warren patents.
Qualified Person
Mr. Kevin Filo, P. Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical minerals in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its Montcalm project, which covers approximately 40 km2 adjacent to Glencore's former Montcalm Mine with historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010), as well as the expanded Warren Project. These complementary nickel copper cobalt projects have excellent access and infrastructure and are in close proximity to the Timmins Mining Camp. The Company has 22,456,488 common shares outstanding.
For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: [email protected] or Kevin Filo, Director, T: 705-266-6818 or visit www.sedar.com.
Figure 1: Mink Property Location Map:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5c8c104f-cb7b-442f-9f84-056953e0e1b5
Figure 2: Warren Project Zone Map:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4608fbe6-da0a-428e-80e4-1609a554950f
Forward Looking Statements
This press release includes certain "forward-looking statements” under applicable Canadian securities legislation, including, but not limited to, statements with respect to the exploration potential of the Company's mineral properties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals; or failure to obtain regulatory approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink's filings with Canadian securities regulators available on SEDAR+ at www.sedarplus.ca.
Although Mink has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Mink disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
