Yahoo Finance Vatic Announces Airborne Magnetic Survey Planned at Sisters Mountain Critical Metals Project, New Brunswick
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2023) - Vatic Ventures Corp. (TSXV: VCV) (FSE: V8V) (OTCQB: VCVVF) (the "Company" or "Vatic") is pleased to announce its plans for an initial exploration program at its' recently optioned Sisters Mountain project in New Brunswick, which totals 8 claim blocks comprising 975 claim units covering 243 km2 (the "Property"). The initial exploration program will include an airborne triaxial gradient magnetic and VLF EM survey. The Company is in the process of selecting a contractor with the proper equipment and expertise to complete these surveys.
Survey block details for Sisters Mountain Critical Metals project are estimated as follows:
Survey | Area | Line Type | Line | Line | Flight | No. of | Total Planned Line km |
Sisters | 226.8 | Survey | 088º | 200 | 50 | 91 | 1133 |
Tie | 178º | 2000 | 50 | 13 | 114 | ||
Total: | 104 | 1247 |
This planned program will allow for the collection of high resolution data to produce maps showing the magnetic and electromagnetic properties of the survey area. These surveys will allow Vatic to analyze the geological and structural features underlying the property. This is an important first step in planning the next phase of exploration to identify diamond drill targets.
The Sisters Mountain Property represents an exceptional exploration opportunity based on New Brunswick Geological Survey exploration reconnaissance results. It has been concluded from the reports provided by the New Brunswick Geological Survey that the Sisters Mountain Property is believed to potentially host mineral deposit types: REE (Rare Earth Elements), tin, tungsten, molybdenum, Platinum Group Metals (PGE), and Base Metals.
Wayne Lockhart, prospector, geologist and originator of the Property has stated: "The Sisters Mountain area has now been proven by government surveys and research to be extremely anomalous for and to have great potential to contain economic deposits of multiple metals including Rare Earth Elements. The government of New Brunswick published maps (Yrs. 2005 and 2012) of this area showing extensive anomalies for tin and tungsten; precious metals; base metals; including maps of anomalous areas for a variety of Rare Earth Elements. An extensive mineral exploration programme is justified, and recommended, to commence immediately to explore this area that is both so highly anomalous, and unusually large for so many metals that are now in high demand throughout the world."
The Company's interest in the Property remains subject to TSX Venture Exchange approval and the work program will be subject to receipt of approval for the acquisition of the Property.
RESULTS OF THE GEOLOGICAL SURVEY
In 2005, the New Brunswick Geological Survey (NBGS) released the results of their survey. The survey suggested that the Sisters Mountain Property could host four distinct mineral deposit types:
REE (Rare Earth Elements)
Tin (Sn), Tungsten (W), Molybdenum (Mo)
Precious Metals
Base Metals
The Sisters Mountain Area was identified by the New Brunswick survey to have the highest metal values in basal till soil samples within the entire survey area of southwestern New Brunswick for Tin and Tungsten, Base Metal, and Precious Metal indicators. In 2012, the NBGS released two additional reports of their work within this area, Open File Report 2012-3 and MRR 2012-1A. These reports show the Sisters Mountain area to be extremely anomalous for Rare Earth Elements (REE). The Geological Survey noted that the region exhibited higher or equal values than in the areas hosting other well-known discoveries such as: Burnt Hill, Sisson Brook, St. Stephen Nickel, Clarence Stream Gold deposits and Mount Pleasant Tin/Tungsten, Indium deposits. The Burnt Hill and Sisson Brook properties are near the Sisters Mountain Property claim blocks.
Critical minerals are essential inputs for renewable energy and clean technology applications, such as advanced batteries, permanent magnets, solar panels, wind turbines, and small modular reactors, as well as advanced manufacturing applications, including defense and security technologies, semiconductors, consumer electronics, and critical infrastructure.
The Canadian government is committed towards decreasing reliance on Chinese and Russian critical minerals. Canada is developing a Critical Minerals Strategy, backed by an approximate $4 billion 2022 Budget addressing the entire value chain of exploration, extraction, intermediate processing, advanced manufacturing, and recycling.
Qualified Person – The technical content in this release has been reviewed and approved by Mitchell E. Lavery, P.Geo, who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The Company's QP has not verified the technical and scientific information from neighbouring and/or established projects and has relied on the information provided on the individual corporations' websites.
ABOUT VATIC VENTURES CORP.
The Company has an option to earn a 100% interest in the Hansen gold property in the Chapais area of Northern Quebec, strategically situated in a very active and emerging gold exploration area with over 6.7 million ounces of gold produced in the greater Chibougamau district. The Company has an option to acquire a 100% interest in a Rare Earth Elements (REE) and polymetallic claims package known as the Sisters Mountain critical metals project located in Southwestern New Brunswick.
ON BEHALF OF THE BOARD OF DIRECTORS OF VATIC VENTURES CORP.
"Loren Currie"
Loren Currie
CEO & Director
info@vaticventures.com
604-757-9792
"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." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/156366
