Overview
Nortec Ventures is focused on the exploration of a number of properties in Finland, Canada and Equador. This includes the 100% owned Tammela Lithium-Tin-Tantalum Project in the south west of the country. Nortec is also exploring the LK Palladium-Platinum-Gold-Copper-Nickel Project (formerly the combined Kaukua-Haukiaho Projects) in north central Finland; the Seinajoki-Kaatiala Gold-Antimony-REE Property in western Finland; the TL Nickel-Copper-Cobalt Property in Northern Labrador, Canada; and also, the Ganarin Gold Property in Ecuador.
Chief Properties
Tammela Lithium-Tin-Tnantalum Project – Southern Finland
Believing that the demand for lithium will continue increasing, Nortec consolidated the Tammela Lithium-Tin-Tantalum (“Li-Sn-Ta”) Project and assess the spodumene-hosted lithium potential in the pegmatite dyke swarms within the Somera-Tammela region in south-west Finland. The Geological Survey of Finland (“GTK”) has already delineated a historic resource of 400,000 tonnes @ 1.5% Li2O, and the potential is open along strike and at depth.
Mr. Mohan Vulimiri, President and CEO of Nortec has stated:
“There is also a welcome opportunity to delineate a large pegmatite-hosted REE deposit whereby demand for tantalum, niobium and caesium continue to increase on the back of technological advances in electronics and the metal alloy industry. The associated potential of significant Lithium and REE mineralization both within the Seinajoki-Kaatiala area and in the Company’s 100% Tammela Project in the southwest of Finland, where there is a known historical resource, really adds quality to Nortec’s group of assets in Finland.”
In 1985, the GTK drilled 17 short diamond drill holes for 734 metres across 3 section lines to test the lithium potential of the KMD. The drilling traced the KMD over 120 metres and the zone remains open along strike. The average true width of the mineralised KMD intersected in the shallow drilling is 12 metres with zones thickening up to 18 metres. The down-dip potential has been tested to 75 metres below natural surface and is open at depth. The GTK calculated a drill weighted-average Li grade of 1.5% taken from 94 metres of mineralised pegmatite. GTK estimated an inferred resource of 400,000 tonnes down to the extrapolated depth of 100 metres over a strike length of only 120 metres on the KMD zone. The readers and potential investors are warned that these estimates are not compliant with the industry standard National Instrument 43-101 guidelines.
The majority of the Li is hosted in spodumene (LiAlSi2O6) that makes up 20% of the mineral distribution in the KMD. Coincident zones of elevated values in tin (“Sn”) and tantalum (“Ta”), in the form of cassiterite and columbite respectively, have also been intersected in the KMD. No detailed exploration work has been carried out on the Hirvikallio prospect since 1970. However, historical GTK reports and other research papers in various professional journals discussed the presence of swarms of pegmatites dykes that have recorded whole rock geochemical values of around 1% lithium oxide (Li2O) on the Hirvikallio Prospect. GTK estimated inferred resources of 100,000 tonnes down to 25 metres depth on the Hirvikallio Prospect. These resources are also not compliant with the National Instrument 43-101 guidelines.
TL (Tasisuak Lake) Property – Labrador, Canada
The TL Property is a Nickel-Copper-Cobalt discovery located 70 kilometres west of the coastal town of Nain in the Tasisuak Lake area of northern Labrador, Canada. CVRD’s (formerly INCO) large nickel-copper-cobalt mine at Voisey’s Bay is located about 50 kilometres to the southeast. The Property consists of 219 contiguous claims, contained in four Exploration Licenses, covering 5,475 hectares. In March 2003 Nortec optioned the TL Property from Vulcan Minerals of Saint John’s, Newfoundland. Nortec can earn up to a 100% interest in the TL Property, at it’s option, may earn a 51% interest by incurring exploration expenditures of $1.5 million by March 17, 2009.
Upon earning a 51% interest, should Vulcan Minerals elect not to participate in future exploration, Nortec, in stages, earn up to a 100% interest in the property by issuing an additional 400,000 common shares and incurring an additional $10,000,000 in cumulative exploration expenditures over a ten year period, and granting a 2.5% net smelter return to Vulcan Minerals.
Garnarin Project – Southern Ecuador
Ganarin is a low sulphidation epithermal gold-silver deposit located in southern Ecuador 65 kilometers southwest of Cuenca. Access is good and topography a dissected plateau ranging from 1200 to 2200 meters altitude.
The Ganarin property is subject to option and joint venture agreements with Doubloon Exploration Corp. whereby, Nortec has the option to acquire 51% interest in the Ganarin property located in Azuay province, Ecuador. The Ganarin property is situated in the prolific Ganarin Mineral Belt. IAMGOLD Corporation’s Quimsacocha gold deposit occurs in the same belt approximately 40 kilometres northeast of the Ganarin Property Channel Resources’ El Mozo gold property also is located in the same area.
Trenching with systematic channel sampling has been carried out designed to provide assays of the veins and breccias over mineable widths. Four areas of interest were identified on the project; Chamana area, Rio Minas zone, Chuscuyacu zone and Loma La Cruz zone.
Management
Mohan R. Vulimiri, M.Sc., P.Geo. – Executive Chairman, CEO & Director – Mohan Vulimiri has many years public company experience, having been involved in the management of numerous junior and established companies. A graduate geologist with a Master of Science degree in Economic Geology, he has over 30 years experience in the exploration and delineation of ore deposits with emphasis on structural controls and modes of occurrence of mineral zones.
Ian F. Laurent, BSc.(Hons), MSc. (Econ.Geol), MAIG, RPGeo. – President and Director- Mr. Laurent has sixteen years of experience in mineral exploration and resource development on four continents. Mr. Laurent was recently Vice President – Exploration for Frontier Pacific Mining Corporation, a Vancouver based Exploration Company, responsible for guiding exploration and carrying out internal resource estimations on their projects in Greece, Peru and Colombia. Prior to 2007, Mr. Laurent worked as a project geologist in Mexico, Sweden, and Turkey, and as an exploration geologist in West Africa and Western Australia. Mr. Laurent also graduated from the Centre for Ore Deposit Research (CODES) at the University of Tasmania in 2003 with a Masters of Science in Economic Geology. Mr. Laurent brings with him a diversity of experience, geological and technical knowledge that will be beneficial to the requirements of advancing the Company’s projects in particular the Kaukua Project to a bankable feasibility study.
Peter F. Tegart, P.Geo. – Executive Director – Peter Tegart is an accomplished professional geologist with extensive experience in exploration and mining of all kinds of mineral deposits. He has a successful career in the delineation of these deposits. He was responsible for the acquisition of Manhattan Minerals Corporations world-class Tambo Grande Project, located in northern Peru. Prior to this he was Vice-President, Exploration, Cheni Gold Mines and Western Manager, Serem Ltd.
Etienne Walter – Non- executive Chairman and Independent Director – Mr. Walter is the Honorary Consul General of the Republic of Ecuador with jurisdiction over the Provinces of Alberta and British Columbia, the Northwest Territories and the Yukon Territory. He earned his diploma in Hotel Management and Financial Administration from the Ecole Hôtelière de la Société Suisse des Hôteliers in Lausanne, Switzerland in November 1972 and he has worked for some of the world’s leading hotels. Since coming to Canada in 1975, Mr. Walter worked for public and private corporations until he formed his own company, Andes Trade and Investment Ltd.
Victor H. Bradley – Director – Victor Bradley is a Chartered Accountant with forty years experience in the minerals industry. Mr. Bradley has a very successful career in numerous large financings as well as taking junior public companies to a senior level. He joined the board of Nortec Ventures Corp. in Nov. 2007. His experience includes 15 years with Cominco Ltd., where he held a wide variety of financial positions including Corporate Controller. He also served as the Chief Financial Officer of MacIntyre Mines. He is the founder and Lead Director of Yamana Gold Inc. (TSX:YRI), a Toronto-based company listed on the Toronto , NYSE (AUY) and London AIM (YUA) Stock Exchanges, and as well was the founder of Aura Minerals Inc. (TSX:ORA), a Toronto-based mineral exploration Company. He is also the founder of Nevoro Inc.
Ernest S. Peters – Independent Director – With over 35 years of experience in the mining industry, Mr. Peters has worked in exploration, development and production in Canada, the U.S., Brazil, Mexico and Australia. Ernie Peters is also the President, C.E.O. and Director of Carmax Explorations Ltd. (TSX-V: CMX).
Grant F. Crooker, P. Geo – Independent Director – Grant Crooker is an independent mining consultant and principal of GFC Consultants Inc. based in Keremeos, BC. He received his Bachelor of Science degree from the University of British Columbia in 1972 and has been a member of the Association of Professional Engineers and Geoscientists of British Columbia since 1992. He has over thirty years experience in mineral exploration having worked in British Columbia, Yukon Territory, Northwest Territories, Arizona, Nevada, Washington, Mexico, Argentina and Ecuador. He has been a member of Nortec’s Board of Directors since February 2000.
Richard L. Richards, CA – Independent Director – Dick Richards is a charted accountant and businessman based in Vancouver, BC. Mr. Richards has had a long career in the real estate industry, most recently with Colliers Macauley Nicolls Inc. He received his Bachelor of Commerce degree from the University of British Columbia in 1960 and has been a member of the BC Institute of Chartered Accountants since 1964. Mr. Richards joined Nortec’s Board of Directors in December 2003. He has previously served on the board of several Canadian publicly listed companies.
Balraj Mann, CA. – Chief Financial Officer – Balraj Mann is a Chartered Accountant with over 28 years of extensive experience in areas of Corporate Finance,acquisitions and financial reporting, and served as a director and advisor for both public and private companies. Mr. Mann was a Senior Manager with Price Waterhouse and attained his designation with the same firm in 1982. From 1989 to 2001 he was president of a private real estate development corporation completing industrial, commercial, single and multi-family high-rise residential projects in excess of $200 million. Durin this time, Mr Mann was also an active participant in the corporate management of the Boundary Bay Airport in Delta, BC. He was a Member of the advisory board of Accelerate Power Systems Inc, formerly Key CapitalGroup Inc, from 2000 to 2001. Mr. Mann was also president of a private company specializing in providing financing and strategic direction to real estate development. He is currently the Chief Financial Officer and director of Eagle Star Petroleum Corporation, a TSX-V listed company.
Giovanna Martino – Corporate Secretary – Giovanna Martino joined Nortec Ventures Corp. in April 2006 and was appointed Corporate Secretary in October 2007. She has held the position of Corporate Secretary for Frontier Pacific Mining (TSX-V: FRP) since August 2006. Ms. Martino received her paralegal training at B.C. Institute of Technology in Burnaby B.C. and Douglas College in New Westminster B.C. She has fifteen years experience as a legal secretary. In addition Ms. Martino worked as an executive assistant with a Vancouver law firm that provided various corporate duties and services for TSX Venture Exchange resource companies. Ms. Martino is responsible for all aspects of Nortec Ventures corporate administration, documentation and regulatory filings.
