(TheNewswire)
Vancouver, BC / The Newswire / Vancouver, B.C., December 11, 2018 – Nortec Minerals Corp.(TSX-V: NVT; OTC-PK: NMNZF) (the “Company” or “Nortec”), a Canadian public company listed on the TSX Venture Exchange,
The company is pleased to announce the appointment of Jeffrey Selder, M. Eng. (Mining), to the Board of Directors of the Company. Jeffrey has over 20 years of relevant industrial and small-scale mineral production and processing equipment experience in more than 10 countries ranging from the design and manufacture, to their actual use on site for mineral processing and fluid recovery. He has also professionally consulted for several major producing mining companies and numerous governments and national and international governmental agencies on all continents.
Some of the major companies and organizations he has worked with include Coeur Mining; AngloGold Ashanti Colombia; Xstrata Copper; Northern Dynasty Minerals; Eldorado Gold; International Training Centre for Artisanal Miners, UBC, Vancouver; Wardrop Engineering, Vancouver; Tetra Tech Engineering, Vancouver; United Nations Industrial Development Organization (UNIDO), Amazon Region, Brazil. He also worked with the Canadian International Resources and Development Institute (CIRDI) as Senior Program Manager. A sample of the projects he has managed include:
Colombia Mining Training Institute
International Centre for Artisanal Mining (ITCAM) (various)
Franchise of Artisanal and Small-scale Gold Mining (ASGM) in Ecuador
Assessment of the Artisanal Gold and Silver Mining Sector in Mexico
Assess Regional Suitability for Implementation of a Training Center in Cachoeira do Piriá, Amazon region, Brazil
Supporting Technical Training for Extractive Industries in Guyana
His experience with expertise in and emphasis on social and environmental factors will greatly benefit Nortec’s projects located in community-oriented Guinea and ecologically and socially sensitive Ecuador. Jeffrey is also experienced in the waste-management field which will both benefit and greatly appeal to local communities and national governments. Additionally, he also has experience in successfully developing, executing and managing engineering studies of all levels, including National Instrument (NI) 43-101 reporting standards.
The Company also announces the issuance of 400,000 incentive stock options to Jeffrey. Each option has an exercise price of $0.10 and is exercisable at any time prior to December 11, 2021, subject to the terms and conditions of the Company’s Stock Option Plan.
About Nortec Minerals Corp.
Nortec is a Canadian mineral exploration and development company based in Vancouver, British Columbia with mineral exploration projects in Finland, Guinea – West Africa and potential acquisitions in Ecuador.
The Tomboko Gold Project is located in the North-eastern area of the Republic of Guinea, and is located immediately west of the Siguiri Gold Mine operated by AngloGold-Ashanti. The Tomboko Gold Project is owned 100% by Alamako Corporation International SARL (ACI). The Golden Rule Mining Inc has entered into an agreement to own 100% of ACI’s Equity in the Tomboko Gold Project. Nortec earned a 51% interest of Tomboko by completing Phases 1 and 2 of the Definitive Option Agreement (Agreement) entered with The Golden Rule Mining Inc. in 2017. Nortec also spent approximately US$ 1 million of the required US$ 2.5 million to earn the remaining 29%. This will convert to pro-rata interest as defined in the Agreement.
The permits are in the northern part of the Birimian Siguiri Basin which hosts three close multi-million ounce gold mines, the Lero (Nord Gold NV), the SAG (AngloGold-Ashanti) and the Keniéro (SEMAFO) along with several other lesser mines and projects in advanced stages.
Nortec undertook a first pass Diamond and RAB drill programs on these three Prospects commencing in September 2017. At TOM-1 North Target gold mineralization were intercepted (24m@3.7g/t (including 4m@10.1g/t) and 19m@2.7g/t) over the NW-striking sinistral brittle-ductile fracture systems. At TOM-2, RAB drilling over the NE-striking brittle-ductile dextral strike-slip fault systems intercepted 39m@0.7g/t (including 9m@1.1g/t) and 18m@0.5g/t. New high grade gold mineralization from follow-up mapping, sampling of outcrops and termite mound surveys show a possible northern extension of the Tom 1 deposit over 1.5 km.
Sunstone Metals (formerly Avalon Minerals), a public Australian mining company has earned the 51% interest and is carrying out the 29% Stage 2 earn-in interest on the Tammela Gold & Lithium Project in South-West Finland. Avalon has completed more than 3,000 meters diamond drilling on the Kietyonmaki lithium prospect and the Satulinmaki and Riukka gold prospects that comprise the Tammela Project.
Detailed information on the Company’s projects have been posted on the Company’s website www.nortecminerals.com.
On behalf of the Board of Directors,
NORTEC MINERALS CORP.
“Mohan R. Vulimiri”
Mohan R. Vulimiri, CEO and Chairman
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
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