Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Positive Preliminary Economic Assessment for Murray Brook Zn-Cu-Pb-Ag Deposit, Bathurst Mining Camp, New Brunswick filed on


Positive Preliminary Economic Assessment for Murray Brook Zn-Cu-Pb-Ag Deposit, Bathurst Mining Camp, New Brunswick filed on SEDAR

Highlights:


    --  Pre-production capital requirements $261 million
    --  Mill throughput of 2 million tonnes of ore per annum - 6,000
        tonnes per day
    --  Life of Mine 9.5 years
    --  Life of Mine Production: 239,000 tonnes of copper concentrate,
        122,000 tonnes of lead concentrate
        and 770,000 tonnes of zinc concentrate
    --  Total Net Smelter Return Revenue $1,246 million
    --  Further metallurgical studies planned
    --  Excellent exploration upside with additional drilling plans on
        adjacent Camel Back Claims

VANCOUVER, July 23, 2013 /CNW/ - El Nino Ventures Inc. ("ELN" and the 
"Company") (TSX.V: ELN) (OTCQX: ELNOF) (Frankfurt: E7Q) is pleased to announce 
the SEDAR filing of the NI 43-101 Preliminary Economic Assessment ("PEA") for 
the Murray Brook polymetallic massive sulfide deposit, New Brunswick (the 
"Project"). The results of the PEA demonstrate the potential technical and 
economic viability of establishing a new mine and mill complex on the Murray 
Brook property.  The projected cash flows indicate an after-tax NPV at a 5% 
discount rate of $96.4 million, an IRR of 11.4%, and a payback period of 5.4 
years (see table 1).

The PEA was prepared by P&E Mining Consultants Inc. under the supervision of 
Eugene Puritch, P. Eng. of P&E Mining Consultants Inc. Mr. Puritch is an 
independent QP in accordance with NI 43-101.

Qualified Persons Statement

The PEA was prepared under the supervision of Eugene Puritch, P. Eng. of P&E 
Mining Consultants Inc. Mr. Puritch is an independent QP in accordance with NI 
43-101 and has reviewed and approved the technical information in this 
release. The information in this release was reviewed 
by Dr. William Stone,  Executive Vice President of Exploration of ELN and 
a QP as defined by NI43-101.

About El Niño Ventures Inc. Bathurst Projects

El Niño Ventures Inc. has two active projects in the Bathurst Mining Camp;

1. Murray Brook Project

The Murray Brook Project is located 60 km west of Bathurst, in the northwest 
part of the Bathurst Mining Camp (Figure 1). The Murray Brook deposit is a 
zinc-lead-copper-silver massive sulphide which is the subject of a recently 
completed Preliminary Economic Assessment.  The project is supported by 
excellent infrastructure including paved roads, grid electricity and 
communities to provide goods, services and skilled labour.

ELN and VMC currently own 100% of the Murray Brook Project and VMC is the 
operator. Under a purchase agreement signed by VMC on August 28, 2012 with 
Murray Brook Minerals and Murray Brook Resources Inc. (collectively the 
"Owners"), VMC acquired the right to purchase, in addition to its 35% 
interest, the additional 30% of the Murray Brook Project from the Owners. The 
purchase agreement between VMC and the Owners provides for staged payments 
totaling $6 million over 5 years and a 0.25% NSR payable to the Owners after 
one year of commercial production. VMC provided ELN with the option to 
purchase an additional 15% in the Murray Brook Project as required by an 
underlying Amending Agreement dated September 30, 2010 between Xstrata Zinc 
(now Glencore Xstrata PLC), VMC and ELN (see reference to the BOJV Tri-Party 
Agreement above).  ELN did not elect to exercise the option and consequently 
at this time the Joint Venture remains at VMC 65%: ELN 35%.

Figure 1. Murray Brook Project and Camel Back property location map, Bathurst 
Mining Camp, New Brunswick.
(http://www.elninoventures.com/s/NewsReleases.asp?ReportID=594115) 

To date, more than 28,000 metres of drilling has been completed on the Murray 
Brook Project.  The first NI43-101 mineral resource estimation and the first 
metallurgical results were published in press releases dated February 2012 and 
January 2013, respectively. On June 5, 2013 a positive Preliminary Economic 
Assessment was announced (see news release).  The results of the PEA 
demonstrate the potential technical and economic viability of establishing a 
new mine and mill complex on the Murray Brook property.  The projected cash 
flows indicate an after-tax NPV at a 5% discount rate of $96.4 million, an IRR 
of 11.4%, and a payback period of 5.4 years (see news release).  The NI43-101 
Technical Report is now filed on SEDAR and is also available on the ELN 
website (see www.elnventures.com).

2. Bathurst Option Joint Venture

The BOJV project is a Tri‐Party Agreement with Xstrata Zinc Canada (now 
Glencore) and VMC covering much of the area of the Bathurst Mining Camp in 
northeastern New Brunswick (Figure 1).  The project commenced in July 2009. 
VMC can earn 50% by spending $10 million over 5 years. VMC can further 
increase its interest to 70% by spending an additional $10 million over 2 more 
years. Exploration expenditures to date by VMC total about $6.7 million.

BOJV project originally consisted of 4712 claims owned 50% ELN and 50% Xstrata 
Zinc and 2907 claims owned 100% by Glencore, together with an Area of Interest 
in which ELN and Glencore hold equal interest.  Due to the Area of Interest, 
the BOJV generates new projects for ELN at no initial cost.  An example of 
such project generation for ELN is the Murray Brook Project.

Votorantim Metals Canada Inc. Statement

Technical details in this news release were provided by VMC whose professional 
geologists conduct operations consistent with mineral industry best 
practices.  VMC accepts no responsibility for this news release or any 
inferences made from the technical details provided herein.

About Votorantim Metals Canada Inc.

VMC is a subsidiary of Votorantim Metais a company that is part of the 
Votorantim Group that was founded in Brazil in 1918. The Votorantim Group 
operates in twenty countries and has over 40,000 employees.  Votorantim 
Metais is the largest electrolytic nickel producer in Latin America and one of 
the world's leaders in the production of zinc, aluminum and nickel.   VMC in 
conjunction with Glencore and El Nino Ventures is operator of the Bathurst 
Option and Joint Venture which is actively exploring for base metal deposits 
within the Bathurst Mining Camp.

About El Nino Ventures Inc.

El Niño Ventures Inc. is an international exploration company, focused on 
exploring for zinc, lead, copper, silver and gold in New Brunswick, Canada and 
copper in the Democratic Republic of Congo ("DRC").

On Behalf of the Board of Directors

Harry Barr

Chairman & CEO, El Niño Ventures Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements. Note:  This release 
contains forward-looking statements that involve risks and uncertainties.  
These statements may differ materially from actual future events or results 
and are based on current expectations or beliefs.  For this purpose, 
statements of historical fact may be deemed to be forward-looking 
statements.  In addition, forward-looking statements include statements in 
which the Company uses words such as "continue", "efforts", "expect", 
"believe", "anticipate", "confident", "intend", "strategy", "plan", "will", 
"estimate", "project", "goal", "target", "prospects", "optimistic" or similar 
expressions.  These statements by their nature involve risks and 
uncertainties, and actual results may differ materially depending on a variety 
of important factors, including, among others, the Company's ability and 
continuation of efforts to timely and completely make available adequate 
current public information, additional or different regulatory and legal 
requirements and restrictions that may be imposed, and other factors as may be 
discussed in the documents filed by the Company on SEDAR (www.sedar.com), 
including the most recent reports that identify important risk factors that 
could cause actual results to differ from those contained in the 
forward-looking statements.  The Company does not undertake any obligation to 
review or confirm analysts' expectations or estimates or to release publicly 
any revisions to any forward-looking statements to reflect events or 
circumstances after the date hereof or to reflect the occurrence of 
unanticipated events.  Investors should not place undue reliance on 
forward-looking statements. 

Tel: +1 604 685 1870 Fax: +1 604 685 8045 Email: info@elninoventures.com or 
visit www.elninoventures.com  650-555 West 12th Avenue, City Square, West 
Tower, Vancouver, B.C.,  Canada, V5Z 3X7

SOURCE: El Nino Ventures Inc.

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/July2013/23/c9070.html

CO: El Nino Ventures Inc.
ST: British Columbia
NI: MNG FIELD 

-0- Jul/23/2013 12:30 GMT

Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement