QNB Metals Clarification On The Kingsville Salt Property.
MONTRÉAL, March 28, 2024 /CNW/ - QNB Metals Inc. (CSE: TIM.X) (the "Company") is pleased to bring more clarification on the Kingsville property (the "Property") located in Nova-Scotia, Canada.
The Kingsville Salt Deposit is located at Kingsville, on Nova Scotia's Cape Breton Island, approximately 20 km north of the Port Hawkesbury / Point Tupper industrial area on the Strait of Canso. Deep exploration drilling for salt was initiated in the Kingsville area between 1968 and 1971 by Domtar Limited based on a significant high amplitude Bouguer gravity low anomaly that extends over a length more than 4000 meters.
Domtar drilled 10 exploration diamond drillholes (DK3-DK12) at depths of approximately 1200 meters. In 1972, Domtar estimated an historical salt mineral reserve of 31.63 million t of Proven and 1.15 billion t of Probable reserves * in the drilled area of 2400 m by 900 m to a depth of 1200 m. The reserves were later reported by Domtar in 1978 **. Depth to the top of the first salt ranges from 400 to 500 meters. The estimated reserves were defined with 10 drill holes, a Bouguer anomaly and a 60% extraction ration through brining process for the Proven reserves and a 40% extraction ration through brining process for the Probable reserves.
Domtar indicated that blocks of salt appropriate for potential brine production cavities were outlined in 10 of their 11 holes.
Domtar Ltd. (1978) reported four main categories of salt grade: (1) very high grade, greater than 95% NaCl; (2) high grade, 90-95% NaCl; (3) medium grade, 75-90% NaCl; and (4) low grade, 60-75% NaCl. Potash salts are not reported in significant amounts in any of the drillhole logs or analyses. Domtar (1978) described notable intersections of very high and high grade salt in drillholes DK-6 and DK-7.
The salt analytical database on approximately 10,000 salt samples provided by Domtar is the largest available for any salt deposit in the province (Domtar 1978). The success of the brining test (KBW No. 1) and the deposit description by Domtar, indicates that the salt grades and tonnages would be sufficient for economic extraction.
Hole Number |
Intervals (Feet) |
Apparent Thickness |
NaCl Grade |
DK-6 |
2325.1-2497.5 |
172.4' |
96.4 % |
DK-6 |
2721.7-2847.6 |
125.9' |
95.17 % |
DK-6 |
2976-3169.1 |
193.1' |
95.82 % |
DK-6 |
3278-3600.3 |
322.3' |
96.22 % |
DK-7 |
1968-2293 |
325' |
97.64 % |
DK-7 |
2342-2569.7 |
227.7' |
97.54 % |
DK-7 |
3008-3198 |
190' |
97.13 % |
DK-7 |
3410-3552 |
142' |
96.82 % |
DK-7 |
3588-3648 |
60' |
96 % |
* Reported by Domtar inc. in 1972 ; Rowbottom, E.T. (Domtar Limited)1972. Geology report, Maritimes Salt Project, Nova Scotia; Nova Scotia Department of Mines and Energy, Assessment Report 11F/10C 42-O-21(01). - The reserves were estimated before the establishment of the 43-101 norm and thus the reserves categories does not reflect the categories of the reserve's classification under the norm and the drilling, sampling and assaying would have to be redone following the adequate QAQC process to be reported today. Be advised that the reserves currently under estimation should not be regarded as reflecting current mineral reserves. |
** Domtar Chemicals Group, 1978: Proposal to the United State Department of Energy for a Strategic Petroleum Reserve in Cape Breton, Nova Scotia. Vol. III - Domtar Chemicals Group, 1978. |
The technical content of this news release has been reviewed and approved by Patrick Laforest, B.Sc., MBA, P.Geo. who is an independent Qualified Person (QP) as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. The QP and the Company have not completed sufficient work to verify the historic information on the properties, particularly regarding historical exploration, neighbouring companies, and government geological work.
QNB Metals Inc. is an exploration and development company focused on creating shareholder value through the strategic acquisition of Nickel & Copper and salt projects while closing and maintaining key partnerships.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties, and uncertain capital markets. Readers are cautioned that actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE QNB Metals Inc.
Stéphane Leblanc, Chief Executive Officer, Email: [email protected]
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