Vancouver, British Columbia - News Direct - Nuinsco Resources Limited
Toronto-News Line-November 24, 2021-Nuinsco Resources Limited ("Nuinsco" or "Company") (CNSX: NWI.CN) (OTC: NWIFF) today announced that it owns 100% of Prairie Ontario The Lake project near Terrace Bay ("Prairie Lake" or "Project") produced 495m (starting from 2.0m downhole) the intersection of continuous key elements and phosphate mineralization in the diamond borehole NP0810.
The intersection of rare earth elements, niobium, tantalum and phosphate mineralization in DDH NP0810 is worth noting for the following reasons: The mineralization extends vertically to 480m, which is one of the deepest intersections obtained by the project; the mineralization extends from the surface to the end of the borehole It is continuous; the mineralization grade is consistent with the mineralization obtained from a borehole one kilometer away; the borehole is located north of the southwest region ("Southwest Region"), and the company recently reported a continuous borehole intersection of more than 100m; Several key elements within the intersection have sufficient levels and have potential economic benefits. The result of NP0810 clearly proves the extensive continuity of complex rock mineralization in the horizontal and depth of the entire grassland lake.
"The drilling of NP0810 is to test Jim's Showing. It is located near the Prairie Lake complex center (see picture below), about 500m north of the Southwest Regional Center. Most of the samples were taken this year," said Paul Jones, CEO of Nuinsco . "The analysis results of NP0810 strengthen our understanding of the extensive endowment of key elements and phosphate mineralization in the complex rocks of Prairie Lake and its impact on economic potential. Prairie Lake is a huge resource pool of these important economic elements with excellent logistical properties As the world economy’s transition to electrification accelerates demand, the prices of these key elements are expected to rise sharply; from August 2020 to now, the price of neodymium alone (neodymium oxide with a purity of 99.0%) has risen from approximately US$60/ The kilogram has increased to approximately US$140/kg (source: kitco.com)."
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Analysis results (Sm) of 495 m continuous mineralization (2-497m) of niobium (Nb), tantalum (Ta), phosphate (P2O5) and rare earth elements (REE) including lanthanum (La), cerium (Ce), and samarium , Neodymium (Nd), praseodymium (Pr), yttrium (Y) and scandium (Sc) are listed in the table below. DDH NP0810 was used to assess the mineralization of Jim's Showing, which is located near the center of the Prairie Lake complex and is considered a unique mineralized area within the Prairie Lake exploration target (see "Prairie Lake ET" below).
Main rock types: CRBT = Carbonatite; IJ-PYX BX = breccia with crbt matrix and ijolite or pyroxene fragments; MEL-IJ = melanite.
∑REE = the sum of Sc, Y, La, Ce, Nd, Sm; Y-yttrium, La-lanthanum, Ce-cerium, Nd-neodymium, Sm-samarium.
P2O5-Phosphate, Nb2O5-Niobium Oxide, Ta2O5-Tantalum Oxide, 1g/t = 1 ppm
The mineralization of the economic benefits contained in the Prairie Lake intrusion occurred in the surface exposure of the entire Prairie Lake complex, where it was sampled and extended to an unknown depth (approximately vertical 525m) below the deepest drilling that has not yet been conducted. There is no indication that mineralization will decrease with increasing depth, and the analysis results of DDH NP1003 indicate that there is extensive and continuous mineralization of the rocks in the complex. The Prairie Lake complex has a series of elements of economic interest in a very large area of mineralized rock. These elements have been identified as key elements defined in the Canadian Minerals and Metals Plan. Infrastructure has been established. The demand for many elements found in Prairie Lake is expected to increase significantly, and a safe supply chain in areas suitable for mining is currently being sought.
The project includes 46 mineral claims and covers an area of approximately 630 hectares. Prairie Lake is strategically located and can be easily reached by all-weather road from the TransCanada Highway 28 kilometers to the south. ET is defined by 59 diamond drill holes.
All samples were analyzed by Activation Laboratories (ActLabs) of Ancaster, Ontario. The fusion XRF method was used to analyze the whole rock and trace element ICP analysis package of the sample and the oxides of niobium, tantalum and zirconium. Implement an internal quality control quality assurance (QAQC) plan to add four QAQC samples (blank and reference standards) to the sampling stream.
Grassland Lake Drilling and Trenching Divided by Target Area 1:
1 The groove length is calculated as the cumulative length of the sample along the groove.
La Ce Sm Nd Y (ppm)
2 The technical report of P&E Mining Consultants Inc. submitted on SEDAR dated November 30, 2018 contains a complete description of the methods used to estimate the exploration targets of the Prairie Lake project. The potential quantity and grade of ET are conceptual in nature, and there is not enough exploration to define mineral resources. It is uncertain whether further exploration will discover mineral resources. There is no national document 43-101—the disclosure standard for the preliminary economic evaluation of mineral projects in the eastern part of Prairie Lake.
Laura Giroux, P.Geo, chief geologist, qualified as Nuinsco according to National Instrument 43-101. Ms. Giroux has reviewed and approved the technical content of this press release.
Nuinsco Resources has more than 50 years of successful exploration experience and is a growth-oriented multi-commodity mineral exploration and development company focusing on potential opportunities in Canada and internationally. The company currently owns four assets in Ontario-the high-grade Sunbeam gold mine near Atikokan, the Dash Lake gold mine near Terrace Bay, and the large-scale multi-commodity (rare earth, niobium, tantalum, phosphate) Prairie Lake project near Terrace Bay. And the zigzag lake assets (lithium, tantalum) near Armstrong. In addition, Nuinsco has signed a gold mining agreement with the El Sid project in the eastern desert of Egypt.
This press release contains certain "forward-looking statements." Except for statements of historical facts, all statements concerning activities, events, or developments that Nuinsco believes, anticipates, or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are usually, but not always, identified by the use of words such as "seeking", "anticipating", "believing", "planning", "estimating", "anticipating" and "intending", and events or results are "probable" , "Will", "may", "should", "may" or "may" occur or be achieved, and other similar expressions. These forward-looking statements reflect Nuinsco's current expectations or beliefs based on information available to Nuinsco. Forward-looking statements are subject to many risks and uncertainties, which may cause Nuinsco’s actual results to differ materially from the results discussed in the forward-looking statements. Even if such actual results have been achieved or materially achieved, there is no guarantee that they will Nuinsco has the expected consequences or impact. Factors that may cause actual results or events to be materially different from current expectations include, among other things, failure to complete financing, capital and other costs that are very different from estimates, productivity differs from estimates, and the world's copper and/or gold markets. Changes, changes in the stock market, uncertainties related to the availability and cost of future financing required, equipment failures, unexpected geological conditions, inaccurate resource estimates, success of future development plans, competition, facility operating performance, environment And security risks, delays in obtaining or failing to obtain property use rights and/or necessary permits and approvals, and other development and operational risks. Any forward-looking statements are only published on the date they are made, unless applicable securities laws may require, Nuinsco assumes no intention or obligation to update any forward-looking statements, whether due to new information, future events or results or otherwise. Although Nuinsco believes that the assumptions inherent in forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and should not be overly dependent on such statements due to the inherent uncertainties.
For more information, please visit www.nuinsco.ca or contact:
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