VANCOUVER, BRITISH COLUMBIA, Jan 05, 2012 (MARKETWIRE via COMTEX) –
Announcement Highlights:
— Appointment of Philip Olson to the Advisory Board
— Drill Program Planned for February / March 2012
— Geological Consulting Agreement with Peter Theyer
— Resignation of Director
Black Smoker Ventures Inc. (cnsx:BSM) ("Black Smoker" or the
"Company") announces that it has appointed Philip E. Olson, P.Geo.,
to its advisory board to assist the Company with the development of
its exploration plans at the Fox Lake Mine project.
Mr. Olson's career includes the positions of Chief Geologist at the
Kidd Creek Mine from 1990 to 1995 for Falconbridge Limited,
Exploration Manager at Hemlo Gold Mines until 1997, followed by
successive positions VP, Exploration and Corporate Development with
Claude Resources Inc. from 1997 to 2005 and successively President,
Chairman and CEO with Titan Uranium Inc. until his retirement in
2009.
Mr. Olson has been a Director of Pelangio Mines Inc. and its
successor Pelangio Exploration Inc. since 1997. He was also a
Director of Detour Gold Corporation from 2007 until 2010. Mr. Olson
served a three year term with the Association of Professional
Engineers and Geoscientists of Saskatchewan as a Councilor and member
of its Law and Ethics Committee. He was also a member of the
committee for the development of National Instrument 43-101 -
Standards of Disclosure for Mineral Projects.
February/March 2012 Drill Program
Black Smoker, upon conclusion of recent modeling and additional
geophysical interpretation, now plans to commence a February/March
drill program at Fox Lake to test the deep conductor identified in
this past summer's deep penetrating SQUID survey. The Fox Lake
deposit area has never been tested at depth and this signature has
emerged as the primary drill target for the first phase campaign.
Geological Consulting Agreement with Peter Theyer
The Company has entered into a consulting agreement with Peter
Theyer, Ph.D., pursuant to which Dr. Theyer will provide geological
consulting services and technical advisory services to the Company in
connection with the exploration program on the Company's Fox Lake
Property.
Pursuant to the terms of the consulting agreement, the Company will
pay Dr. Theyer $80.00 per hour and reimburse Dr. Theyer for all
pre-approved expenses incurred in connection with the consulting
agreement.
Dr. Theyer completed his Ph. D. in geology in 1969 at the University
of Vienna in Austria. Dr. Theyer began his career in 1970 with
Falconbridge Nickel Mines as an exploration geologist in the Manitoba
Nickel Belt. This initial exposure and interest in the geology and
economic prospects of mafic-ultramafic rocks hosting nickel, copper
and Platinum Group Elements, was soon rounded out with the discovery
of an eventually mined copper, zinc gold VMS deposit in the Dominican
Republic. After five years as an exploration geologist, Dr Theyer
transitioned to the Manitoba civil service where he spent over 30
years as a commodity geologist specializing in base and precious
metals. While working with the Provincial Geological Survey, Dr.
Theyer pioneered the search for Platinum Group Elements in Manitoba
by proving their existence in the Bird River Sill of southeast
Manitoba.
Carson Seabolt, President and Chief executive officer states: "The
appointment of Philip Olson is particularly complementary to our
program as Phil completed a thesis on the mine area during its
operation by Sherritt Gordon in the mid 80's and as a result is
intimately familiar with the exploration potential of the Fox Lake
Mine project. We view Philip's participation as a validation of our
exploration concept and we are grateful for his guidance as we
advance towards our deep drill test this February. Philip's tenure as
Chief Geologist at Kidd Creek, one of the world's largest and deepest
VMS deposits, makes him a well suited advisor as Black Smoker pursues
additional deep lenses of mineralization at Fox Lake."
Resignation of Director
The company would also like to announce that Bruce Hannan has
resigned as a Director of the Company effective December 8, 2011.
About Black Smoker
Black Smoker is presently focused on the exploration of the Fox Lake
Property in Manitoba, Canada. The Company will continue its core
business of promotional management while developing and assessing
plans for the Fox Lake Property. A total of approximately 12 million
tonnes grading 1.82 % copper and 1.78% zinc was produced from the Fox
Mine in the years 1970 to 1985. Black Smoker is utilizing modern deep
penetrating geophysical techniques to target new discoveries at depth
and in proximity to the historic mine site.
On behalf of the board of directors of:
BLACK SMOKER VENTURES INC.
Carson Seabolt, Chief Executive Officer
FORWARD LOOKING STATEMENTS: This press release contains
forward-looking statements, which address future events and
conditions, which are subject to various risks and uncertainties. The
Company's actual results and financial position could differ
materially from those anticipated in such forward-looking statements
as a result of numerous factors, some of which may be beyond the
Company's control. These factors include: results of exploration
activities and development of mineral properties, fluctuations in the
marketplace for the sale of minerals, the inability to implement
corporate strategies, the ability to obtain financing, currency
fluctuations, general market and industry conditions and other risks
disclosed in the Company's filings with Canadian Securities
Regulators.
Forward-looking statements are based on the expectations and opinions
of the Company's management on the date the statements are made. The
assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise unless required by applicable securities law.
The CNSX has neither approved nor disapproved the information
contained herein.
Contacts:
Black Smoker Ventures Inc.
Carson Seabolt
(604) 687 6684 ext 103
www.blacksmokerventures.com
SOURCE: Black Smoker Ventures Inc.
http://www.blacksmokerventures.com
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