El Nino Ventures
El Nino Ventures Inc. is a junior exploration company focusing its efforts on copper exploration in the Democratic Republic of Congo (DRC) and base metals exploration in the Bathurst Mining Camp in Bathurst New Brunswick, through an option joint venture agreement with Xstrata Zinc Canada
Market: TSX – Venture, Frankfurt
Tickers: ELN.V, E7Q
Number of shares in issue: 40.08 million
Share Price: C$0.23
Market Cap: C$9.22 million
1 Year trading range: C$1.40 – C$0.22
Company website address: http://www.elNiñoventures.com
El Nino grabs additional research permit in DRC
El Niño Ventures (TSX.V: ELN; Frankfurt: E7Q) announced that it had signed a Letter of Intent with Phoenix Mining Corporation (PMC), a Congolese mining company, to earn into a 70 percent interest on Research Permit (PR) 9316 in the Democratic Republic of Congo (DRC) Copper belt.
El Nino will act as operator on the licence, which was awarded to PMC only two weeks ago. The permit covers around 25 square kilometres of highly prospective geology just north of Lubumbashi, and is close to the Ruashi Mine operated by Metorex, the Etoile Mine and the Luiswishi Mine. El Niño said the permit also hosts excellent infrastructure, including rail, electricity and hard-surfaced roads.
El Nino can earn 70% by making a payment of $200,000 USD, issuing 100,000 shares on each anniversary date of the agreement for three years. El Nino will fund 100% of all exploration work on the permit.
Jean Luc Roy President & CEO of El Nino summarised:
“This acquisition is consistent with the company's philosophy of acquiring highly prospective exploration ground. The location of this Permit is what attracted us to this Permit as it lies on the same mineralized trend of world class operating mines in the area. With year-round exploration on this highly accessible property, our shareholders will benefit from a constant news flow. We will have immediate access to this ground and our intentions is to fast-track exploration. Our drilling program in the DRC is on-going and our new sample prep laboratory is now on site. We look forward to sharing the results from drill programs as they come in.”
Register here for more articles on El Nino Ventures
Other El Nino Ventures articles
-
29/05/08 El Nino Ventures: Weathering a storm
Other El Nino Ventures news
-
26/06/08 El Niño Ventures says drilling in DRC on schedule
-
06/05/08 El Nino Ventures starts drilling in Ireland
-
14/04/08 El Nino Ventures begins 25,000 metre drill program in DRC
-
03/04/08 El Nino Ventures makes board appointment
-
21/02/08 El Nino Ventures confirms DRC land position is secure
-
11/02/08 El Nino Ventures picks up more acreage in Ireland
-
04/02/08 El Nino Ventures options additional project in the DRC
-
01/02/08 El Nino Ventures drills 10 m @ 3.5% copper in DRC
Investors interested in El Nino Ventures recently viewed
-
Abbastar Uranium (TSX: TSX-ABA)
-
Commerce Resources Corp. (TSX: CCE)
-
Fission Energy (TSX: TSX-FIS)
-
Forum Uranium (TSX: FDC)
-
Global Hunter (TSX: TSX-BOB)
-
Hi Ho Silver (CNQ: HIHO)
-
LANDORE RESOURCES (AIM: LND)
-
Mindoro Resources (TSX: TSX-MIO)
-
Pencari Mining (TSX: TSX-PMC)
-
Raytec (TSX: TSX-V: RAY)
-
Ringbolt Ventures (TSX: TSX-RBV)
-
Strathmore Minerals (TSX: TSX-STM)
-
Xemplar Energy Corp (TSX: TSX-XE)