Mink Ventures continues to scour Montcalm Property

Mink Ventures Corporation has completed analysis of core from a recent, single drill hole, to test a strong induced polarization (IP) anomaly designated SW IP Anomaly 1, associated with a large magnetic high in the SW Target Area (STA) of its Montcalm Ni, Cu, Co project. 

The drill hole intersected a disseminated sulphide zone over approximately 19 meters consisting of disseminated pyrite, minor pyrrhotite with the occasional speck of chalcopyrite, however, no significant base metal or precious metal values were returned. The cause of the SW IP Anomaly 1 was barren, disseminated sulphide mineralization which explained the anomaly. This sulphide zone was not detected by previous airborne EM systems due to its disseminated nature and thus lack of conductivity. This lends credence to the approach by Mink that both 3D borehole IP and surface IP are good tools to detect potential new zones of mineralization that have not been found by previous operators. Ongoing target development work (ground IP surveying) is currently under way in the eastern portion of the STA. Numerous borehole IP and ground IP targets on the Montcalm Project remain untested and it is anticipated that further targets will be developed from this ongoing IP program. These will be prioritized for future drill testing. 

Once this IP program is complete, Mink will have expended the $600,000 work commitment portion of the earn in agreement. Upon issuance, in late December 2023, of the second payment of cash ($25,000), the second share issuance (800,000 Mink shares) and transfer of assessment credits, the Company will have secured its 80% interest in the highly prospective Montcalm Project and the project will remain in good standing for several years with banked assessment.

Natasha Dixon President and CEO commented, "Mink is using advanced geophysics on the overburden covered Montcalm project which can penetrate deeper than previous systems and are capable of outlining both disseminated and massive sulphides. There is less than 1% outcrop to chase, so this technology is one of the primary means to identify targets that were missed by previous operators with less powerful airborne systems. Drill testing these newly identified targets is the only way to determine if the mineralization is carrying nickel, copper, cobalt sulphides. With our ongoing IP work and existing drill ready targets, there remains significant opportunity for new discoveries to be made across the underexplored 40 km2project."

Following the program at Montcalm, the technical team will begin preparations to commence drilling on the A Zone at its Warren project in early January. The A Zone has a surface strike length of approximately 120 meters exposed in a series of surface trenches. Confirmation work by Company geologists on the A Zone, as well as other target zones, returned significant base metal numbers in grab samples. Excellent copper values were noted in the A Zone trenches which ranged from 1.075% to 2.08% Cu. Nickel values of interest from the A zone ranged from 0.313% to 0.348% Ni. Cobalt values ranged from 0.0389% to 0.0498% Co. Some interesting silver values, which ranged from 10.3 ppm to 23.8 ppm silver,were associated with some of the better Cu values on the A Zone. (See press release September 20, 2023).

Both the Montcalm and Warren projects are located northwest of Timmins, Ontario, approximately 35 km apart, along the Montcalm Mine Road. (See Figure 1). The Montcalm Project surrounds Glencore's former Montcalm Mine which had historical production of approximately 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co. (Ontario Geological Survey, Atkinson, 2010). 

RATIONALE FOR MONTCALM EXPLORATION:

Historical work at the Glencore mine site demonstrated that in addition to the higher-grade Ni Cu Co lenses at the mine, there is potential for disseminated mineralization. In some instances, this type of mineralization is associated with a magnetic high and no coincident electromagnetic (EM) response (ex. Hole MAC9731 in Figure 3). Numerous magnetic targets of this nature are present on Mink's claims both within the Hook Zone and across the southern portion of the property; these represent valid exploration targets. Both disseminated and/or stringer mineralization as well as massive mineralization responds well to IP surveying and Mink's approach at Montcalm utilizing both borehole IP and surface IP surveys rather than EM has proven successful in generating significant new targets. 

Mink's claims cover very prospective geology including approximately 10 km2 of the gabbro phase of the Montcalm gabbro complex. The gabbro phase of the complex hosted the former Montcalm Mine. (See Figure 2 - light blue unit.) Current IP work is targeting the contact of the gabbro phase and a breccia zone contact associated with a strong magnetic response. Mink's project has excellent access and infrastructure including an all-weather road to the property, a series of logging roads throughout, as well as a power line, and proximity to the Timmins Mining Camp, enabling cost-effective mobilization and exploration. 

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.

Figure 1: Location Map

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Figure 2: Montcalm Gabbro Complex Geology

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Figure 3: Compilation Map - Magnetics, Historic Drill Holes & Target Areas

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About Mink Ventures Corporation:
Mink Ventures Corporation (TSXV: MINK) is a Canadian mineral exploration company exploring for critical minerals (nickel, copper, cobalt) at its Warren and Montcalm projects, in the Timmins, Ontario area. Mink's flagship Montcalm Project, covers 40 km2 adjacent to Glencore's former Montcalm Mine which had 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). Its Warren Ni Cu Co Project is located 35 km away. Both projects have excellent access and infrastructure with an all-weather access road and power as well as its proximity to the skilled labour and facilities of the Timmins Mining Camp. The Company has 17,902,984 shares outstanding.

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