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El Nino Ventures Inc. (ELN:CA)

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Web site: 
http://www.elninoventures.com/
El Niño Ventures is a exploration company, focused on exploring for Copper/Cobalt in the Democratic Republic of Congo ("DRC").  In addition the Company had entered into an Option agreement with Votorantim and Xtrata Zinc whereby Votorantim, by incurring exploration expenditures of $10 million over a period of 5 years.  Votorantim may further elect to increase its interest to 70% by spending another $10 million over an additional two years. The Votorantim option is on an extensive land package in the Bathurst Mining Camp that ELN currently shares 50/50 with Xstrata Zinc Canada. (Please refer to ELN's August 6, 2009 news release).



Our discovery on what is now known as the Kasala Project gives the Company a bona fide development project going forward. The results on this project are very consistent and have a true thickness that bears the foundation of a world class project over time.
High Grade Drill Results On The Kasala Project In The DRC
  • Numerous intercepts with widths from 50 metres to 91 metres of mineralization
  • High grade intercepts: 
    • 7 metres @ 7.07% Cu (Hole MDB-DD-019)
    • 10 metres @ 6.07% Cu (Hole MDB-DD-011B)
    • 11 metres @ 3.68% Cu (Hole MDB-027)
    • 21 metres @ 2.42% Cu (Hole MDB-026)
  •  IP program indicates extension of Kasala Main Zone to the south east

On January 12, 2009, El Niño Ventures announced the drilling results from its Kasala Project (P.R. 5214) in the Democratic Republic of Congo ("DRC"). These results confirm the presence of significant mineralization within the Kasala Main Zone with the potential for expansion based on our recently completed Induced Polarization ("IP") Survey. The Company has a 70 percent interest in this project with an option to earn up to 90 percent on terms to be negotiated and the Company holds title to this property through one of its Congolese subsidiaries.



The Company completed 56 Reverse Circulation ("RC") drill holes (totaling 5883 metres) and 20 Diamond Drill ("DD") drill holes (totaling 3583.6 metres) across the P.R. 5214 permit. Of these holes, 35 RC holes (totaling 3336 metres) and 15 DD holes (totaling 2458.6 metres) were completed within the Kasala Main Zone area (Figure 1).



Allan Lines, exploration manager for El Nino Ventures Inc., reports that "with the latest assay results we have confirmed that copper mineralization in the Kasala area has a minimum strike length of approximately 800 metres and a width of approximately 250 metres. Intersections in some of the drill holes completed in 2008 indicate thicknesses of as much as 91 metres. The Kasala Main Zone is still open in all directions and at depth.
Links: 
PinnacleDigest: El Nino Ventures (ELN:TSXV): A Story of David Teaming up with Goliath
Interview of Harry Barr, Chairman and Acting CEO of El Nino Ventures by Dale Jackson of the Corporate Profile Minute
Kasala Copper Project
Bathurst Zinc Project
Fact Sheet
Corporate Presentation
ELN:CA
Category: 
Mining