January 11, 2011). Detailed exploration will be carried out on these targets during the potential Golden Zone production stages of development.
(a) pay $20,000 in cash to Mines Trust and pay $30,000 in cash to Hidefield;
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. Finore controls a 100% interest in the Lantinen Koillismaa PGE Au Cu Ni deposit, Finland, through the acquisition of NMO from Nortec. R. Vulimiri Mohan R. Vulimiri, CEO and Chairman .
The Golden Zone Property is located 320 kilometres (200 miles) north of Anchorage. Located 16 kilometres west of the Parks Highway and the Alaska Railroad it has excellent infrastructure and is accessible with a pioneer road. Both the highway and the railroad connect the cities of Fairbanks and Anchorage. The property is also accessible by air with a 1200 foot airstrip near the camp on the property. Another 3000 foot airstrip on the north end of the property will be available with repair from storm damage. The property is entirely on State of Alaska owned land and is composed of 227 State of Alaska mining claims totalling 7,894 hectares or 19,598 acres and two leases, with one upland mining lease covering the historic Golden Zone mine site and totaling 1,181 hectares or 2,920 acres and a second mill site lease for a staging area, covering 16 hectares or 40 acres.
Various metallurgical tests carried out in 1994, 1996 and 1997 showed that total recoveries of 82% to over 85% of the gold and 27% to over 42% of the silver can be expected using a mill flotation cyanidation process at a grind size of 100 mesh. Approximately 80% of the total copper should also be recoverable. The Golden Zone property hosts a number of other interesting gold showings, exposed in trenches and/or cut in drill holes. The GAS zone located approximately 460 m southwest of the Golden Zone breccia pipe consists of a similar small intrusive body that is possibly connected to the Golden Zone porphyry at depth. Preliminary work at the Copper King Long Creek area has returned positive gold and copper values and warrants additional exploration to delineate the extent and grade of the mineralization (Re: Technical Reports, Golden Zone Property, Alaska, Norwest Corporation, May 16, 2005 and Nike Dri Fit Hoodie Blue
/ ACCESSWIRE / July 31, 2014 / Nortec Minerals Corp. (TSX V: NVT), ( or the is pleased to announce that Fennor Minerals Corp.( a wholly owned subsidiary of Nortec has signed two Memoranda of Understanding ( to acquire 100% interest in the Golden Zone Property in South central Alaska.
signs Two Memoranda of Understanding on the 100
Fennor will raise $1,000,000.00 dollars Canadian privately to update the NI 43 101 measured and indicated resources and to assist in making plans to initiate a Pre feasibility Study for development. These plans will include detailed metallurgical test work, access road studies and preliminary cost analysis for development.
(b) issue 2,400,000 shares of voting stock of the Owning Entity at a value of CDN$0.10 a share to Mines Trust and issue 3,600,000 shares of voting stock of the Owning Entity at a value of CDN$0.10 a share to Hidefield;
The staging area lease is located thirteen kilometers (eight miles) southeast of the property at Colorado Station on the Alaska Railroad.
One MOU, with Chulitna Mining Company LLC ( provides for Fennor to acquire Chulitna interest in the property. The second, with Mines Trust Co. ( Trust and Hidefield Gold, Limited Hidefield Gold (Alaska), Inc. (collectively addresses the interests of the underlying landowners of the property. Together the MOUs provide for Fennor acquisition of 100% interest in the Nike Crop Top Golden Zone Property, subject to cash option payments, shares and net smelter payments.
and regulations of the Securities Act and TSX Venture Exchange policies. Nortec shareholders will also be given an opportunity to participate in the Private Placement. Fennor will subsequently apply for listing on the TSX Venture Exchange once it meets the regulatory requirements of the TSX Venture Exchange and the BC Securities Commission.
The Private Placement of $1,000,000 will consist of shares at $0.10 per share and will be distributed to shareholders in accordance with the rules Nike Long Sleeve Running Shirt
The Golden Zone Breccia deposit contains a NI 43 101 compliant resource (Re: Technical Report, Golden Zone Property, Alaska, Norwest Corporation January 11, 2011):
(d) Mines Trust and Hidefield will have the right to participate in future financings undertaken by Fennor.
feasibility studies by qualified personnel and engineering companies are required to confirm this. The inferred category is not included in the estimated resources.
Within thirty days following the date of completion of the first stage financing Fennor will:
The Golden Zone mineralization was originally discovered in 1906 through follow up of small placer gold deposits. Since that time it has seen extensive drilling, limited underground exploration and development and a brief interval of production. A reported total of approximately 17,300 tons of ore were mined in 1941 42, and processed through an on site flotation mill, producing 869 tons of sulphide concentrate (primarily arsenopyrite, chalcopyrite, pyrite and pyrrhotite), from which 1,581 tr. oz. of gold, 8,617 tr. oz. of silver, 21 tons of copper and 1.5 tons of lead were extracted by smelting in the Tacoma, Washington ASARCO smelter. The deposit and surrounding region have been well studied by both USGS personnel and State of Alaska geological personnel and is referenced in a number of publications.
Fennor will also pay cash and issue shares at a price of $0.10/share to Mines Trust and Hidefield to acquire their 30% Joint Venture interest. The payments will consist of the following:
Deposits and prospects at Golden Zone include a well documented pipe like body of stockwork controlled breccia mineralization in the late Cretaceous quartz monzonitic intrusive rocks, skarn zones near the intrusive Permian carbonate and calcareous argillite contacts, and vein and shear related mineralization in both the intrusive and meta sedimentary and meta volcanic rocks. Gold mineralization is associated with silver, arsenic, bismuth, antimony and copper values.
These resources were estimated in 2011 and do not include any subsequent drilling performed in 2011 and therefore can be considered historical. The resources appear to be amenable for development by open pit methods. Systematic pre feasibility and Nike Women's Jacket Running
(c) grant a NSR to Mines Trust of 1.0% and to Hidefield of 1.5% of production. Fennor may reduce the NSR to Mines Trust to 0.6% by the payment of $400,000 and to Hidefield to 0.9% by the payment of $600,000 at any time until July 1, 2017.
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