MINTO METALS CORP.
The Company commissioned
MT is a passive electromagnetic technique that maps resistivity by measuring telluric currents induced in the earth by natural sources such as lightning, solar flares and ionospheric resonances. SPARTAN MT is full-tensor audio-magnetotelluric technology that acquires data in the 10 kHz to 0.001 Hz frequency band.
For more information on MT and SPARTAN MT refer to: https://quantecgeo.com/spartan-mt/.
Results from the MT survey highlighted three significant low resistivity, moderate to high conductive anomalies on the Minto Mine Property:
A. | A large low resistivity anomaly below the Minto Mine Property orebodies extending to a depth of ~-300m elevation (ELEV) (approximately 650 metres below the lowest current mine development or roughly 1,000 meters below surface (Figures 3&4); |
B. | A low-moderate resistivity anomaly to the NE of the Minto Mine Property workings (Figures 3&4) that appears to follow the regional NW-SE structure. The anomaly extends from 200m ELEV to ~-900m ELEV (approximately 1,100 meters of interest); and |
C. | A large, low resistivity anomaly at the south end of the Minto Mine Property that likely represents the younger-aged, |
Figure 1: Regional Map of
Figure 2: Location map for the MT survey over the Minto Mine Property. Individual MT data collection points highlighted.
Figure 3: Horizontal MT plan section at 0m ELEV. For comparison, surface infrastructure at the Minto Mine Property is at 790m ELEV; the deepest Minto orebody is currently at 400m ELEV. MT low resistivity anomalies A, B and C denoted. Hatched patterns denote projections of the Minto Mine Property orebodies. Cross-section in Figure 4 denoted by X-X'.
Figure 4: X-X'cross-section from Figure 3. MT Anomalies A, B and C denoted. Minto orebodies annotated and identified as dark grey shadows. Interpreted structures denoted by dashed lines.
The Minto Mine Property orebodies appear within the upper portion and cluster around MT anomaly 'A' that extends to depths up to 650 metres below the current mining infrastructure (Figures 5 & 6). The relationship between mineralized orebodies at the Minto Mine Property and the low resistivity anomaly is not currently constrained due to lack of drilling. Two conceptual targets have emerged based on these results and previous geophysics surveys (Titan DC-IP / MT circa 2010): 1) the entirety of the low resistivity Anomaly 'A'; and 2) the transitional zone between low and moderate resistivity at Anomalies A, B and several other isolated, targets. This data is being integrated into the Minto geological model and will be a key input for
Figure 5. Plan view map depicting the Minto Mine Property site surface infrastructure (satellite image) and underground mine development (Green) with projected 3D MT resistivity clipped at 100 ohm-m.
Figure 6. 3D view looking Az 255° (north is to the right) depicting MT Anomaly 'A' clipped at 100 ohm-m from Figures 3&4 in spatial relationship to underground mine development from Figure 5.
The Company has completed its drilling program for 2022 and are awaiting results from 19 drill holes that targeted
The technical contents of this news release have been reviewed and approved by
Minto operates the producing Minto mine located within the traditional territory of the Selkirk First Nation in the Minto Copper Belt of the
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements"), within the meaning of applicable Canadian securities laws and "forward-looking information" within the meaning of applicable
Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: expectations in connection with the Company's 2022 exploration program being met, the successful completion of development and exploration projects, planned expansions and other projects within the timelines anticipated and at anticipated production levels; interest and exchange rates; that required financing and permits will be obtained; general economic conditions; no labour disputes or disruptions, flooding, ground instability, geotechnical failure, fire, failure of plant; that equipment and processes continue to operate as anticipated and other risks of the mining industry will not be encountered; that contracted parties provide goods or services in a timely manner; that there is no material adverse change in the price of copper, gold or other metals; competitive conditions in the mining industry; title to mineral properties; costs; taxes; the retention of the Company's key personnel; no changes in-laws, and no material worsening of the direct and indirect impact of COVID-19 including rules and regulations applicable to Minto.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance, or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual performance and results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: changes in commodity prices, general economic conditions, mineral reserve and mineral resource estimates may change and may prove to be inaccurate; Minto has a limited operating history and is subject to risks associated with establishing new mining operations; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; risks related to the Company's use of contractors; the hazards and risks normally encountered in the exploration, development and production of copper, gold and silver; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the Company's operations and workforce are exposed to health and safety risks; the Company's title to exploration, development and mining interests can be uncertain and may be contested; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company may be subject to litigation; and those risk factors set out in the Company's annual information form dated
Although the Company has attempted to identify important factors that could cause actual performance, results, or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in or incorporated by reference in, this news release if these beliefs, estimates, and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the
Director, Investor Relations
(604) 759 4666
E-mail: info@mintomine.com
SOURCE
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