Nuinsco’s First Round of Infill Sampling at Prairie Lake Rare Metals Project Significantly Extends Mineralized Intersections

TORONTO, ON / ACCESSWIRE / June 19, 2019 / Nuinsco Resources Limited (“Nuinsco” or “the Company”) (CSE: NWI) is pleased to announce results for previously unsampled drill core from the 2007 drilling program at its 100%‐owned Prairie Lake project near Terrace Bay, Ontario. This additional sampling of holes NP0702 and NP0714 significantly extends the known niobium (Nb), tantalum (Ta), phosphorous (P) intercepts in these holes and adds assays for rare earth elements (REE) including lanthanum (La), cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y).

“The ongoing infill sampling of drill core from the 2007, 2008 and 2010 diamond drilling programs moves Nuinsco a step closer to upgrading part of the current 515-630 million tonne Exploration Target (“ET”) on the Prairie Lake project to a mineral resource,” said Paul Jones, Nuinsco’s CEO.

A total of 21 samples were taken from two holes, NP0702 and NP0714. In hole NP0702, a 5.5m section was sampled down to the bottom of the hole at 143m. In NP0714, a 50m long hole, two intervals totalling 31.75m were sampled.

Hole
ID

From
(m)

To
(m)

Width
(m)

Nb2O5
(%)

P2O5
(%)

Ta
(g/t)

Y
(g/t)

La
(g/t)

Ce
(g/t)

Nd
(g/t)

Sm
(g/t)

∑REE
(g/t)

NP0702

137.5

143.0

5.5

0.0423

0.26

9.3

45

41

100

66

15

267

NP0714

4.1

8.45

4.35

0.139

3.75

6.4

92

361

812

377

62

1704

NP0714

10.95

31.5

27.4

0.164

3.25

11.5

88

407

931

443

65

1934

∑REE = Sum of Y, La, Ce, Nd, Sm; Y – yttrium, La – lanthanum, Ce – cerium, Nd – neodymium, Sm – samarium;
P2O5 – phosphate, Nb2O5 – niobium oxide, Ta – tantalum, 1g/t = 1 ppm

When combined with previously reported sampling (see press release dated January 7, 2008), the new results extend the intersection in hole NP0714 to 0.207 % Nb2O5 and 5.26 % P2O5 with 43 g/t Ta over 45.9m, between 4.1m and 50.0m, from the 17.45m length reported in 2008.

Previous diamond drilling on the Prairie Lake property (2007 to 2010) has returned assays up to:

  • 1.008 % Nb2O5 over 1.0m (NP0711; 97.5-98.5m; carbonatite)
  • 23.08 % P2O5 over 0.44m (NP1005; 336.27-336.71m; carbonatite)
  • 474 g/t Ta over 1.0m (NP0711; 23.75-24.75m; ijolite)
  • 2380 g/t Nd, 1910 g/t La and 4160 g/t Ce over 1.06m (NP1007; 428.0-429.06m; carbonatite)
  • 590 g/t Sm and 887 g/t Y over 1.38m (NP1006; 165.92-167.3m; Carbonatite)

The Prairie Lake project consists of 46 mineral claims covering an area of ~630 ha. Logistically Prairie Lake is superbly located, with ready access to power, road, rail and shipping infrastructure; it is easily accessed by an all-weather road from the TransCanada Highway 28 kilometres to the south. The mineralization identified is entirely contained within the Prairie Lake carbonatite complex; the ET of 515-630 million tonnes is defined by 59 diamond drill holes with grades as tabulated below:

Prairie Lake ET1:

 

Main/SW

Jim’s Showing

East

NE

Total

REEs

         

La (ppm) Lanthanum

275 – 340

295 – 360

305 – 370

200 – 250

280 – 340

Ce (ppm) Cerium

650 – 790

670 – 820

670 – 820

450 – 550

650 – 790

Sm (ppm) Samarium

55 – 70

55 – 70

55 – 70

50 – 60

55 – 70

Nd (ppm) Neodymium

295 – 360

290 – 360

320 – 390

235 – 290

300 – 360

Y (ppm) Yttrium

85 – 100

90 – 110

80 – 100

135 – 170

85 – 100

La+Ce+Sm+Nd+Y (ppm)

1360 – 1660

1400 – 1720

1430 – 1750

1070 – 1320

1370 – 1660

Additional Elements (as oxides)

         

P2O5 (%) Phosphate

3.0 – 4.0

3.5 – 4.5

2.5 – 3.0

2.5 – 3.5

3.0 – 4.0

Nb2O5 (%) Niobium

0.095 – 0.115

0.100 – 0.120

0.040 – 0.050

0.085 – 0.105

0.090 – 0.110

Ta2O5 (ppm) Tantalum

18 – 25

25 – 30

5 – 7

10 – 12

18 – 21

Volume – m3 (million)

140 – 175

12 – 14

13 – 16

2 – 3

170 – 210

Tonnes (million)

435 – 530

35 – 45

40 – 50

7 – 8

515 – 630

1 The potential quantity and grade of the ET is conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the discovery of a mineral resource. There is no National Instrument 43-101 – Standards of Disclosure for Mineral Projects preliminary economic assessment in respect of the Prairie Lake ET.

All exploration work at Prairie Lake is supervised by Laura Giroux, P.Geo, Chief Geologist, who acts as Nuinsco’s Qualified Person under National Instrument 43-101. Ms. Giroux has reviewed and approved the technical contents of this news release.

About Nuinsco Resources Limited

Nuinsco Resources has over 45 years of exploration success and is a growth oriented, multi-commodity mineral exploration and development company focused on prospective opportunities in Canada and internationally. Currently the Company has two properties in Ontario – the high-grade Sunbeam gold prospect near Atikokan and the large, multi-commodity (rare-earths, niobi­um, tantalum, phosphorus) Prairie Lake project near Terrace Bay. In addition, Nuinsco has completed an agreement for gold exploitation at the El Sid project in the Eastern Desert of Egypt – a project with the potential to provide near-term revenue.

Forward-Looking Statements

This news release contains certain “forward-looking statements.” All statements, other than statements of historic fact, that address activities, events or developments that Nuinsco believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate, “expect,” and “intend” and statements that an event or result “may,” “will,” “can,” “should,” “could,” or “might” occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Nuinsco based on information currently available to Nuinsco. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Nuinsco to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Nuinsco. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world copper and/or gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain tenure to properties and/or necessary permits and approvals, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Nuinsco disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Nuinsco believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

To learn more, please contact:

Paul Jones, CEO
paul.jones@nuinsco.ca
416 626-0470 x 229

Sean Stokes, Executive VP
sean.stokes@nuinsco.ca 
416 626-0470 x 224

Cathy Hume, Consultant
cathy@chfir.com
416 868-1079 x 231

www.nuinsco.ca
Twitter: @NWIResources

SOURCE: Nuinsco Resources Limited

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