Proactiveinvestors USA & Canada

El Nino Ventures closes private placement to raise C$1.5 mln, updates on Kasala copper project in DRC

Wed, 02 Dec 2009 17:18:00 -0500

El Nino Ventures Inc (TSX-V: ELN; Frankfurt: E7Q) said it has closed the non-brokered private placement announced in October 2009 to raise C$1.5 million which it will use in part to advance properties in the Democratic Republic of Congo.

It also said the recent drill program at the Kasala copper project in the DRC identified consistent mineralization over large widths. Highlights of the recent work include 22 metres at 3.28 percent copper, 29 metres at 2.82 percent Cu, 31 metres at 2.19 percent and 11 metres at 3.68 percent Cu.

The Kasala prospect is located approximately 70 kilometers northwest of Lubumbashi, the center of the country's massive copper/cobalt mining industry. The Central African Copperbelt contains over 10 percent of the worlds copper and 34 percent of the world's cobalt.

These latest results confirm the presence of significant mineralization within the Kasala Main Zone with the potential for expansion based on the results from an IP Survey completed in early 2009.

The recent drill program focused exclusively on Kasala Block A. Blocks B and C are yet to be drill tested, but are considered as priority drill targets due to the strong copper-in-soil values identified over large areas on these blocks. Block C in particular has numerous multi-point anomalies of greater than 300 parts per million copper-in-soil and has an anomalous area of approximately 1,500 meters long by 1,500 meters wide, making it a high priority for drilling, the company said.

An infill diamond drilling program of at least 5,000 meters is planned to commence on Block A in late April 2010, to determine the complete extent of the mineralization and to allow an NI 43-101 compliant resource estimate to be completed on Block A by the end of summer 2011.

In advance of any additional drilling the company will undertake additional soil sampling, both across Blocks A, B and C and regionally, to provide enhanced geochemical detail while selecting drill targets.

El Nino Ventures says Votorantim Metals agrees option deal for Bathurst zinc project

Thu, 06 Aug 2009 16:32:00 -0400

El Nino Ventures Inc said (TSX-V: ELN) Votorantim Metals Canada Inc has elected, following completion of in-depth due diligence, to enter into an option agreement with the company which will allow Votorantim to earn up to a 70 percent interest in 1,805 mineral claims in the Bathurst Mining Camp, New Brunswick.

ELN currently owns 50 percent interest and Xstrata Canada Corp -- Xstrata Zinc Canada Division the remainder in the zinc and copper project Bathurst. The due diligence study carried out by Votorantim included a study of an additional 2,907 mineral claims wholly owned by Xstrata Zinc.

The tripartite option agreement now being drafted is between Votorantim, ELN and Xstrata Zinc whereby Votorantim may elect to earn up to a 70 percent interest in mineral claims comprised of 1,805 claims owned 50 percent by ELN, 50 percent Xstrata, and 2,907 claims owned 100 percent by Xstrata Zinc.

Votorantim may earn a 50 percent interest in the property by incurring exploration expenditures of C$10 million over a period of 5 years and may further elect to increase its interest to 70 percent by spending another C$10 million over an additional two years.

Upon Votorantim taking a 50 percent interest in the Property ELN will retain a 25 percent interest in the 1805 claims as well as a 25 percent interest in any mineral claims staked subsequently by the parties within the Area of interest. Should Votorantim increase its interest to 70 percent, the ELN interest would be reduced to 15 percent.

El Nino Ventures raises CDN$2.25 mln for Kasala copper project, names Mayer CFO

Tue, 05 May 2009 11:51:00 -0400

El Nino Ventures Inc (TSX.V: ELN) said it is raising up to CDN$2,25 million in a non-brokered private placement of up to 22.5 million units at a price of CDN$0.10 each to finance the company's 2009 exploration program for the Kasala copper project in the Democratic Republic of Congo and provide working capital.

Each unit will consist of one common share and one share purchase warrant which entitles the holder to purchase one common share at CDN $0.25 for 18 months.

El Nino has outlined its exploration program which will test the Kasala East Zone which has significant drill potential over 2.5 kilometers. In 2008, significant results were released for the Main Zone and the geophysics signature on the East Zone has the same footprint throughout with a very intense zone to the south. The Program calls for up to 5,000 meters of diamond drilling on this Zone.

The company also intends to do exploration reverse circulation drilling on its research permit 9316 just north of Lubumbashi where several active and old artisanal workings are located. This permit is located in between three world class operating mines, Ruashi, Etoile and Luswishi.

El Nino also announced the promotion of Tony Mayer from controller to chief financial officer.

President and CEO Jean Luc Roy said: "This financing will give the company the funds required to move the Kasala project forward. This project has great potential and the planned drill program will allow a full initial assessment. Much work has been done in compiling and analyzing the data from our 2008 exploration program resulting in the identification of several first class drill targets following the geological model we have put together for this project.

Jean Luc Roy, President and CEO of El Niño Ventures Speaks to Proactiveinvestors

Tue, 17 Feb 2009 00:00:00 -0500

Jean Luc Roy of El Niño Ventures gives an update on their propsective projects in the Democratic Republic of Congo et al and where El Niño is headed over the next 18 months.

El Nino Ventures reports spectacular grades at Kasala Copper Project

Mon, 12 Jan 2009 00:00:00 -0500

Shares in El Nino Ventures were halted in trading moments before the company released an update on drilling at the Kasala Copper Project in the Democratic Republic of Congo

El Niño Ventures Completes Acquisition of Phoenix Mining

Tue, 16 Dec 2008 00:00:00 -0500

El Niño Ventures (TSX.V: ELN) announce that it has signed an Acquisition of an Interest Agreement with Phoenix Mining Corporation, a Congolese mining company.

Under the terms of the agreement, El Niño can earn a 70% interest in PR 9316 in the DRC by making a payment of US$200,000, issuing 100,000 shares on each of the three anniversary dates of the agreement for a total of 300,000 shares, and pay $2 million to Phoenix Mining upon the following schedule: (i) $250,000 within 15 days of the first anniversary (ii) $300,000 within 15 days of the second anniversary (iii) $350,000 within 15 days of the third anniversary, and (iv) the balance of $1,100,000 within 15 days of the fourth anniversary.

Jean Luc Roy, President & CEO of El Niño Ventures Inc. states: "We are very happy to reach a conclusion on this acquisition with Phoenix Mining. This Research Permit 9316 is located between two world class deposits, the Ruashi deposit and the Luishi deposit and the Company is already planning its initial exploration program which will be carried out over the next year.

I would also like to update our shareholders on the pending results on our PR 5214 which were expected this month. We should have all results in a couple of weeks and at that point the Company will release its results on the Kasala Project. "

El Niño expects Kasala project drilling results in December and says its land position in DRC is safe

Thu, 13 Nov 2008 00:00:00 -0500

El Niño Ventures Inc expects the remaining results from reverse circulation drilling at its Kasala project to be available in early December and moved to dispel fears over its land position in the Democratic Republic of Congo, saying it is not under review.

Results from a geophysics survey to determine the extension of the Kasala project discovery are anticipated to be available at the end of December.

President and CEO Jean Luc Roy, who just returned from a work trip to the DRC, commented on the mining review in the country: “The review of mining contracts in the DRC is following its course and has created some uncertainties in the marketplace with regards to its possible outcome for some mining projects in the DRC.

“I want to again point out that El Nino's land position in the DRC is not under review and has never been under review. Our land position was obtained under the New Mining Code of the DRC and we have no contracts whatsoever with any state owned company. Our affiliate companies have clear title to our research permits,” he added.

The next month and a half will bring more results of our Kasala project and all the data will be compiled to plan the next drilling campaign in 2009. The 2008 campaign has been a true success and El Nino looks to build on that next year on the Kasala project and plans to start work on two of its other “very promising“ research permits.

El Nino Ventures is a junior exploration company, focused on exploring for copper and cobalt in the DRC. El Nino has an option to acquire a 70 percent interest in over 350 square kilometres in DRC’s copper belt. It also has has zinc properties in Ireland and holds a 50 percent interest on an extensive land package in the Bathurst Mining Camp with Xstrata Zinc Canada.

The Congo – A Misunderstood Mining Review

Tue, 11 Nov 2008 00:00:00 -0500

The Democratic Republic of Congo (DRC) is again in the lime light, and again for the wrong reasons. After a brief lull, the civil conflict is raising its ugly head in the eastern Congo.

El Nino Ventures Make Significant Copper and Cobalt Discovery

Fri, 10 Oct 2008 00:00:00 -0400

El Niño Ventures (TSX:ELN), the junior exploration company which applies the latest technologies to former mining regions to advance stage exploration targets, has announced a significant Copper and Cobalt discovery.

El Nino starts drilling in Ireland

Tue, 06 May 2008 00:00:00 -0400

El Niño Ventures (TSX.V: ELN / Frankfurt: E7Q) confirmed that it had commenced a 4000 metre diamond drilling program on its prospecting licences in Ireland.

El Niño holds thirteen prospecting licences covering approximately 500 square kilometres within the Central Carboniferous Basin. The Basin is hosts three zinc-lead mines.

Jean Luc Roy, President & CEO commented:

"I am very pleased that our Ireland work program has now started. Exploration in Ireland has increased significantly over the last two years with several companies having success. I look forward to sharing our progress with our shareholders and this program is a testament to our continued efforts to add value to the company for our shareholders."

El Nino begins 25,000 metre drill program in DRC

Mon, 14 Apr 2008 00:00:00 -0400

El Niño Ventures (TSX.V: ELN; OTCBB: ELNOF; Frankfurt: E7Q) announced the beginning of a 25,000 meter drill program in the Democratic Republic of Congo ('DRC').

The campaign is expected to take five months to complete, with drilling split equally between reverse circulation and diamond drilling. Drilling will test a copper anomaly over a 3 kilometre strike, plus four additional anomalies which have yet to be drill tested by El Nino.

El Nino also confirmed that it would fly airborne geophysics and conduct geochemical sampling over additional acreage it secured in February.

Jean Luc Roy, President, commented:

"The dry season in the DRC is upon us and I am very pleased to announce the start of our extensive exploration and drilling program for 2008. We will follow up on promising results already obtained and we look forward to drill test other areas that show strong indicators on our permits. We are embarking on a very ambitious program and we will keep everyone up-to-date on the progress of our efforts in the DRC. "

El Nino makes board appointment

Thu, 03 Apr 2008 00:00:00 -0400

El Niño Ventures (TSX-V: ELN, OTCBB: ELNOF, Frankfurt: E7Q) announced the appointment of Damian Towns to its board of directors.

Mr Towns is a member of the Institute of Chartered Accountants of New Zealand and worked previously as, Controller of First Quantum Minerals, and as an audit manager with PricewaterhouseCoopers LLP in Canada.

Jean Luc Roy, President of El Nino Ventures said:

"We are pleased to welcome Damian Towns to our Company's Board of Directors. His experience in the mining industry and his understanding of our dealing in the Democratic Republic of Congo (DRC) will further enhance the strength of our Board of Directors.”

El Nino Ventures confirms DRC land position is secure

Thu, 21 Feb 2008 00:00:00 -0500

El Niño Ventures (TSX.V: ELN), which has five research permits prospective for copper mineralisation in the Democratic Republic of the Congo, confirmed today that its land position in the country is not affected by a review underway in the DRC. The mineral exploration company also confirmed that it had sufficient cash for its exploration ambitions in 2008, with approximately C$7.9 million in cash.

Jean Luc Roy, President & CEO stated:

"El Niño Ventures land position in the DRC is not under review as we are not under a contract agreement but under the rules and regulations of the Mining Code of the DRC. The review process that is taking place is only reviewing mining contracts that were signed with the State-Owned mining company. Our research permits were granted under the new mining code and we have no contractual agreements with State Owned companies. We are very comfortable working in the DRC and will continue to work with the governmental authorities and operate in accordance with the legislation in place."

El Nino Ventures picks up more acreage in Ireland

Mon, 11 Feb 2008 00:00:00 -0500

El Niño Ventures (TSX.V: ELN) announced that it had been granted two additional Prospecting Licences within the Republic of Ireland, bringing its total holding to thirteen licences over more than 450 square kilometres in the Central Carboniferous Limestone Basin. Ireland's limestone basin contains three operating zinc-lead mines.

El Nino added that it would commence a 4400 metre drill program "on or before May".

"We are pleased with our landholding position in this highly prospective base metal area and look forward to our initial drill program, designed to test very specific targets on these licences". said El Niño's President, Jean Luc Roy.

El Nino Ventures options additional project in the DRC

Mon, 04 Feb 2008 00:00:00 -0500

El Niño Ventures (TSX.V: ELN / Frankfurt: E7Q) announced an agreement with Mimeco AG ("MIM") to acquire a 70% interest in Permit 2461 in the Democratic Republic of the Congo ("DRC"), situated east of the Anvil Mining Kinsevere project.

El Niño will acquire its initial 70% stake by issuing 200,000 shares to MIM, and will commit to expend US$1.5 million over three years of which US$0.5 million must be spent in the first year of the agreement. El Niño has the right at anytime to increase its interest to 85 percent by paying MIM the sum of $15 million.

Permit 2461 covers more than 55 square kilometres and is prospective for copper and cobalt mineralisation. El Nino said a airborne geophysical surveys and geochemical surveys were planned for 2008 first a foremost, with the possibility of drilling commencing later in the year.

"We look forward to working with MIM in maximizing the potential of this research permit. This acquisition fits into our overall corporate strategy to selectively increase our land position in the DRC through the acquisition of quality exploration ground. Our objective is to build a mining company by delineating proven reserves and placing them into production. We are now finalizing our 2008 exploration program which will include a substantial drill program planned to test several targets delineated on Research Permit 5217 during the 2007 exploration program. We also plan to drill test other areas of our landholdings which we have prioritized from the analysis of our airborne geophysical surveys." said Jean Luc Roy, President of El Nino.

El Nino Ventures drills 10 m @ 3.5% copper in DRC

Fri, 01 Feb 2008 00:00:00 -0500

El Niño Ventures (TSX.V: ELN / Frankfurt: E7Q) exploration ambitions in the Democratic Republic of the Congo ('DRC') appeared to get off on the right foot after the Company announced the results from the first three drill holes from a 6200 metre reverse circulation ('RC') drilling campaign on Research Permit 5217, completed in late 2007.

El Nino currently holds a 70 % interest in four well Research Permits in southern DRC.

Results from three drill holes ANCU001, ANCU003, and ANCU004, drilled to depths of 150m and inclined at -60o returned notable intersects including 10 metres @ 3.5% copper from just 12 metres below surface, and included 4 metres @ 7.24% copper. A 1 metre intersection in the drill core was still at the labs awaiting final copper grades as it was over 10%.

Jean Luc Roy, President of El Nino commented:

"We are very pleased with these results as they confirm the presence of near surface high grade copper zones on the Permit. Substantial follow up drilling, planned to commence in April after the rainy season, will test numerous high priority targets delineated on the Permit. The particular results reported come from our copper anomaly which is situated in the center of Permit 5217 along the southern edge of a major magnetic anomaly. Only four holes were completed in this area when drilling was stopped by the heavy rains, so we look forward to getting back to drilling off the mineralization in this area in April. Other results are expected over the next weeks and we will report these as they become available. In 2008 our drill program will test other areas within Permit 5217 and will also test geophysical targets identified on Permits 5214 and 5215."