scheint sich doch zu lohnen, mexiko:
Northwestern announces commencement of 2005 exploration program at Picachos silver-gold property, Mexico
MONDAY, MAY 02, 2005 9:01 AM
- PR Newswire
TORONTO, May 2, 2005 /PRNewswire-FirstCall via COMTEX/ -- Northwestern Mineral Ventures Inc. (NWTMF) is pleased to announce the commencement of its 2005 exploration program at Picachos, the company's silver-gold project area in Mexico's Durango State. The C$526,000 work program is comprised of airborne magnetometer surveys, soil geochemistry and trenching. Work is expected to be completed in the third quarter of 2005.
"We are excited that exploration is continuing at our silver-gold Picachos project," said Kabir Ahmed, President and CEO of Northwestern. "The decision to proceed was based on a number of factors, including encouraging results from the 2004 exploration and evaluation of our Mexican properties."
The Picachos project area consists of a total of approximately 7,700 hectares (19,000 acres) and includes the Picachos claim and Camargo and Camargo-2 concessions.
A Conceptual Study of the Picachos silver-gold area conducted by Watts, Griffis and McOuat (WGM) in 2004 reported that the eastern portion of the Picachos claim hosts a major north-northwest trending shear zone measuring at least four kilometers (2.5 miles) in length. This zone controls epithermal mineralization at the El Pino prospect and may be related to gold-porphyry stock at depth. WGM further explained that even at relatively low elevations, the silver-gold ratios are quite high and it is possible that the near surface mineralization at El Pino and El Toro represents the upper part of a largely unseen (or buried) mineralized system.
The initial stages of the 2005 work program are expected to enable Northwestern to efficiently direct exploration towards the more prospective areas of the Picachos project area. Overall, a total of approximately 85 line kilometers (52 miles) of soil surveying is planned for El Pino and El Toro, during which 3,600 soil samples will be collected. At Los Cochis, which is on the Camargo claim, approximately 83 line kilometers (51 miles) of soil surveying is proposed, amounting to more than 3,300 samples. Hand trenching at El Pino and El Toro will also deliver up to 600 rock samples. Furthermore, airborne magnetometer surveys, which are expected to total 400 line kilometers (248 miles), are intended to help define lithology, buried intrusions and structures that may control the emplacement of mineralization and could be used to select areas for detailed follow-up surveying.
With the results of these geophysical and soil surveys, Northwestern can more accurately target the most ideal zones for diamond drilling and underground or surface development as potential exists for both underground and bulk tonnage open pit targets.
Northwestern has an option agreement with RNC Gold Inc. (CA:RNC) to acquire a 50% undivided interest in the 7,700-hectare silver-gold Picachos project area and the 17,800-hectare (43,900-acre) Tango gold concession in Sinaloa, Mexico. This land position was increased in early 2005 by Northwestern and RNC, as per the recommendations of the WGM Conceptual Study. To earn its interest, Northwestern must expend C$1.5 million in exploration expenditures, on or before December 30, 2006, and prepare a bankable feasibility study. RNC is the operator of the project. The qualified person for RNC is Denis Francoeur, M.Sc., P.Geo., a practicing member (No. 0781) of the Association of Professional Geoscientists of Ontario.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (
www.northwestmineral.com) is an emerging international exploration company with an experienced management team. The company is focused on properties with potential uranium and iron-oxide copper-gold targets and currently has interests in Mexico's Durango and Sinaloa provinces and Canada's Northwest Territories. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
SOURCE Northwestern Mineral Ventures Inc.
Kabir Ahmed, President and CEO, (866) 437-9551,
info@northwestmineral.com