Mink Ventures Corporation (TSXV: MINK) has kicked-off a phase one diamond drill program at its 40sq. km Montcalm nickel copper cobalt project, located adjacent to Glencore’s historical Montcalm Mine, 65km northwest of Timmins, Ontario.
The Montcalm Mine had historical production of approximately 3.93Mt of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010). The first hole is testing two of three significant conductivity anomalies identified through the recent borehole IP survey.
In January 2023, the company completed phase 1 of a planned multiple borehole induced polarization (IP) survey covering approximately one third of the large Hook Zone magnetic anomaly.
Previous historical drilling by past operators failed to explain a number of electromagnetic (EM) anomalies within the Hook Zone. Mink’s recent programme outlined three high priority targets with strong conductivity responses associated with coincident and strong magnetic responses; two of these targets will be tested with current hole MT23-1 (See Figures 2, 3A, 3B). These targets are proximal to unexplained EM responses and/or anomalous mineralization detected by previous exploration teams.
Mink’s phase 1 drill programme will test two of the priority targets; one near surface target and a second zone at depth. Both of these targets exhibit a strong conductive response as well as a good chargeability response.
These targets are hosted in the “gabbro phase” of the Montcalm gabbro complex which hosts the former Montcalm Mine.
The current borehole IP anomalies to be drill tested are proximal to historical hole WT0512 which returned 40 meters of anomalous nickel copper just below the WT0512’s casing.
A third borehole IP target was also detected proximal to VTEM anomaly D.
VTEM anomaly D was a very strong EM response and a single historical drill hole failed to explain the EM response. Mink will drill test this third borehole anomaly during the next drill programme.
The interpretation of the borehole IP survey has provided much greater detail on why holes by previous operators may have missed their target and have demonstrated other zones of interest on the periphery of the survey area at depth. The company has outlined another borehole IP survey to be conducted over the remaining two thirds of the Hook Zone.
Further, at the Southern Target Area, line-cutting is complete and the surface IP survey is underway and should be completed within the week. A number of untested historical EM targets and magnetic anomalies identified by previous operators and government surveys are the focus of this IP survey. This programme will refine these targets for the next phase of diamond drill testing on the project.
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