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TORONTO, Nov. 18, 2019 /CNW/ - Central Timmins Exploration Corp. ("CTEC" or the "Company") (TSXV: CTEC) is pleased to announce a potential Kimberlite Pipe identified in Bonar Township near Chapleau 160km west of Timmins, Ontario. This was a pleasant surprise as CTEC was evaluating 2 Mag anomalies located about 1 km apart for Cu Zn. Based on a follow-up, detailed helicopter Mag survey both Mag anomalies model as steeply dipping pipes. Review of the CTEC MMI results indicates that one anomaly has a unique, very anomalous rare earth MMI response modelled as per a SGS MMI template of the diamond bearing C14 kimberlite located 20km NE of Kirkland Lake, Ontario – See attached Bonar maps and chart of CTEC MMI data vs. SGS MMI data over C14 kimberlite.
C14 Kimberlite MMI Charts - 30m of OB (CNW Group/Central Timmins Exploration Corp)
CTEC's exploration path to evaluating the 2 Mag anomalies in Bonar Township was as follows:
The Chapleau area of the Kapuskasing Structural Zone (KSZ) was sampled by Operation Treasure Hunt for diamond indicator minerals in 2001; as part of a multi-year regional geochem program; G9 and G10 diamond indicator minerals were found. (OGS Open File Report 6063)
In 2002 the Ontario Government funded a regional airborne aeromagnetic survey of the Chapleau Uplift portion of the KSZ; 2 of the most interesting Mag anomalies were located in Bonar Township.
A Timmins prospector staked the 2 Mag anomalies and then funded a low-level Helicopter Mag /EM survey in 2003. Both Mag anomalies model as steeply dipping pipes with core areas, 6ha and 10ha respectively.
Claims came open in 2007 – Claim Post Resources (CPS) staked the claims, completed a 180 sample MMI program crossing both Mag anomalies; prospected the area - local geology appears to be a dolostone.
CTEC re-staked the claims in 2019; re- evaluation of the MMI data indicates the 12ha pipe has the C14 rare earth rim and a central Kimberlite signature, whereas the 6ha pipe has no rare earth signature.
The C14 pipe was one of the first diamond bearing kimberlite pipes found about 20km NE of Kirkland Lake, Ontario. A large diameter drill core - pilot plant test program recovered 5 diamonds.
Three lines of MMI sampling at 25m centers generated the SGS Laboratories MMI template for kimberlite exploration. The C14 SGS MMI data is on the SGS website.
Charles Gryba, President and CEO stated "CTEC's potential kimberlite pipe in Bonar Township is located 45km directly north of the newly-commissioned Newmont Goldcorp Borden Lake Gold Mine. This area of the Kapuskasing uplift near Chapleau was extensively explored for carbonatites in the 1960s. Most of the carbonates were 5 to 10 kilometres in diameter with some areas grading 0.3% to 0.5% Niobium.
Claim Post Resources MMI sampled the Bonar magnetic anomalies but switched to frack sand in Manitoba and the claims lapsed. CTEC re-staked the claims in 2019 to follow up on the anomalous Cu and Zn values. The high rare earth assays on the outside perimeter of the north anomaly were noted but what was missed is that the core area of the Mag anomaly matched the Kimberlite Mg+Cr+Co response of the C14 kimberlite pipe. Graphs of the CTEC and C14 SGS data are attached; CTEC responses are much higher due to shallower overburden. When taken together; the very anomalous rare earth rim combined with the separate kimberlite core area response gives a unique overall kimberlite signature.
Nature being what it is; another possibility is the 12ha pipe is a magnetic carbonatite pipe potentially rich in rare earths. If the 2 CTEC pipes were part of a large carbonatite complex, one would expect both pipes to be anomalous in rare earths. Only the 12ha pipe is anomalous in rare earths thus it could be Carbonate Group type Kimberlite pipe, perhaps geologically similar to the DeBeer's Victor North kimberlite pipe where the fine-grained kimberlite matrix is mainly dolomite and calcite."
Deep Seismic plus gravity surveys indicate that portion of the KSZ has a 150km deep keel thus there is a good chance that if the kimberlite is diamondiferous the diamonds could still be intact. Permitting to drill a diamond drill hole to test the 12ha pipe is in progress. Most kimberlites in Canada are remote, under deep overburden or more likely under a small lake. The CTEC Bonar possible pipe has road access and all indications are that is close to surface as there are granite gneiss outcrops within 300m of the anomaly.
Mr. Charles Gryba P. Eng. has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure has approved the scientific and technical information relating to the disclosure discussed in this news release. Mr. Gryba - President and Director of CTEC was also the founder, President and Director of Claim Post Resources TSXV CPS from listing until 2018; thus, providing continuity on the Company's Timmins area exploration programs.
About Central Timmins Exploration Corp.
CTEC is an early-stage Canadian-based junior exploration company with property mainly within the city limits of Timmins in the Porcupine Mining District in the northeastern region of Ontario. The Company's assets are prospective for gold; a suite of base metals and now kimberlites as well. See the company website at www.centraltimmins.com.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, the Corporation's expectations, strategies and plans for the Timmins Properties, including the Corporation's planned exploration activities and the intended uses of the net proceeds of the IPO.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Corporation to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Corporation's final prospectus dated October 4, 2018 filed on SEDAR at www.sedar.com for a discussion of these risks.
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SOURCE Central Timmins Exploration Corp
Central Timmins Exploration Corp., Charles Gryba, President, CEO & Director, [email protected], Tel: 416-801-6366; Chris Hopkins, CFO, [email protected], Tel: 416 786 9793
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