(TheNewswire)
Vancouver, BC – TheNewswire - March 30, 2021 – NORTEC MINERALS CORP . (the “Company” or “Nortec”) ( TSXV : NVT ) (OTC:NMNZF) is pleased to announce significant values of 1% Vanadium and0.69% Uranium from reconnaissance rock sampling on its CottonwoodUranium-Vanadium Project (“Cottonwood” or “Property”) locatedin Garfield County, Southeast Utah, USA.
James Rasmussen, Senior Consultant at North AmericanMining Services said, ”These elevated uranium and vanadium valuesare very promising since they are contained within orientation samplescollected during early work on the property. Follow up work todelineate potential higher grade uranium drilling targets at depthwill include analysis of other trace element anomalies found in thesamples. ”
A reconnaissance geologic program was conducted on theCottonwood Project to help assess the vanadium and uranium potential of the propertybetween October 25, 2020 to October 31, 2020. Twenty rock chipsamples were collected on the property during this program. Thesamples were collected as chips of rock from approximately one squaremeter (nine square feet) of outcrop.
Nortec has received the final analytical results forthese samples from ALS USA Inc., an accredited laboratory based inReno, Nevada, on March 15, 2021. The assay results were delayedbecause of the Covid-19 restrictions.
Cottonwood is located approximately 372 kilometres (230miles) by road southeast of Salt Lake City, Utah (Figure 1) and issituated in the Cottonwood Wash-Trachyte vanadium-uranium district,Henry Mountains Basin.
The samples were analyzed for 61 elements using an ICPAtomic Emission Spectroscopy and ICP Mass Spectrometry techniques. Atotal sample digestion method was chosen for these analyses becausemany vanadium minerals are clays that are not digestible by morecommonly used partial digestion techniques. The analysis of resultsfor trace elements associated with vanadium and uranium deposits willbe evaluated for use in future exploration of the Property. TheUranium and Vanadium results are shown in the following table and inFigure 4 :
SAMPLE | AREA | ALTERATION * | U | V |
NUMBER | ppm | ppm | ||
22784 | 1 sq. metre | White | 45.30 | 47.00 |
22785 | ” | White | 16.20 | 97.00 |
22786 | ” | White | 2.50 | 27.00 |
22787 | ” | Limonite | 3.80 | 24.00 |
22788 | ” | Limonite | 1570.00 | 9480.00 |
22789 | ” | Carbon | 23.80 | 1140.00 |
22790 | ” | White | 6900.00 | >10000 |
22791 | ” | White | 156.50 | 1200.00 |
22792 | ” | White | 29.30 | 181.00 |
22793 | ” | White | 12.40 | 217.00 |
22794 | ” | Limonite | 168.00 | 792.00 |
22795 | ” | White | 119.00 | 1900.00 |
22796 | ” | Limonite | 7.20 | 503.00 |
22797 | ” | Limonite | 320.00 | 1440.00 |
22798 | ” | Limonite | 82.30 | 582.00 |
22799 | ” | White | 2.30 | 34.00 |
22803 | ” | Limonite | 0.90 | 28.00 |
22804 | ” | Limonite | 1.60 | 34.00 |
22805 | ” | Limonite | 0.90 | 24.00 |
22806 | ” | White | 0.70 | 11.00 |
The chip samples were collected from altered andunaltered sandstone within the Jurassic Salt Wash Member of theMorrison Formation, a known uranium and vanadium producing unit. Thealteration was identified during this early-stage field investigationof the claim block. The target mineralization at the Project issandstone hosted vanadium and uranium deposits similar to theShootaring Canyon Deposit, about 50 kilometres (30 miles) south of theCottonwood Project. These drilled deposits contain over twenty-fivemillion pounds of uranium and associated vanadium, in several separatedeposits. These deposits are some of the largestknown within the Salt Wash Member (Figures 2, 3 & 4).
A widespread, visual alteration envelopinguranium-vanadium mineralization at Shootaring Canyon and othersandstone-hosted deposits in the Salt Wash Member also occurs on theCottonwood property. The alteration is seen as a change of themedium brown unaltered sandstone to a white to light pink sandstonedue to the depletion of iron oxide and the enrichment of calcite andclays. The known uranium-vanadium mineralization within theCottonwood claim block is contained within this envelope ofalteration. The alteration is also observed in one or more of themassive sandstone beds within the Salt Wash Member. The altered bedsare distinguishable at a distance from unaltered beds in outcrop.
These sampling results will help in the use of trace element geochemistry to design futureexploratory drilling for vanadium and uranium mineralization withinthe altered envelope.
The Company is planning to continue the Phase 1 programto further define drilling targets based on the sampling results andgeological mapping to date. This will consist of detailed geologicalinterpretation, Alpha Track and radiometric surveys. Any potentialtargets defined in the Phase 1 exploration program would be followedup with drilling in the Phase 2 program.
Details with respect to the mining and explorationcompanies active in Garfield County area and the history of Uraniumand Vanadium mining can be referred to in the Company’s pressreleases dated September 15, 19, and October 13, 2020.
Nortec holds 100% interest in the Property, subject toa 1% Net Smelter Royalty (NSR). The 1% NSR may be reduced to 0.5% bypaying US$500,000 at anytime on before March 20, 2024.
James Rasmussen, BS., CPG and O.Jay Gatten, B.S., CPG, of North American Mining Services guided andcarried out the work program. James and Jay are Qualified Persons asdefined by NI 43-101 guidelines and approved scientific and technicalinformation in respect of the Cottonwood Property contained in thispress release.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development companybased in Vancouver, British Columbia. Nortec has a 17% interest in theTammela Gold and Tammela Lithium projects in Southwest Finland. TheCompany has incurred over CDN$2.9 million in exploration, diamonddrilling and support costs to earn a 51% interest in the Tomboko GoldProject, Northeast Guinea, West Africa. The Company is alsoevaluating advanced properties in Ecuador. Detailed information onthese projects are posted on the Company’s website www.nortecminerals.com .
Onbehalf of the Board of Directors, “ __Michael M Malana_ ” CFO, Director |
TheTSX Venture Exchange has not reviewed and does not accept theresponsibility for the adequacy or accuracy of this news release. This pressrelease contains certain forward looking statements which involveknown and unknown risks, delays and uncertainties not under theCompany’s control which may cause actual results, performances orachievements of the Company to be materially different from theresults, performances or expectations implied by these forward lookingstatements. This news release does not constitute an offer to sell or asolicitation of an offer to buy any of the securities in the UnitedStates .
Figure 1: Location map, Cottonwood Vanadium-UraniumProject.
Uranium-Vanadium District within Upper JurassicMorrison Formation strata
Uranium-Vanadium District within Upper Triassic ChinleFormation strata
Farmers Knob – Past Producer
Figure 2: Uranium-Vanadium Districts in theCottonwood Project area
Figure 3: Geology Map with past producers and mineraloccurrences, Garfield County, Utah
Figure 4: Cottonwood Claim Map with sample locationsand mine portal workings
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