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.
KINGSVILLE'S SALT PROPERTY OVERVIEW
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.
|
Qualified Person
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.
About the Corporation
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.