Nuinsco targets up to 360 Mt of P2O5 at Prairie LaNuinsco targets up to 360 Mt of P2O5 at Prairie Lake
2010-01-13 13:30 ET - News Release
Mr. Rene Galipeau reports
NUINSCO RESOURCES LIMITED: 330 TO 360 MILLION TONNE EXPLORATION TARGET MINERALIZATION INVENTORY ESTIMATED AT PRAIRIE LAKE
P&E Mining Consultants Inc. has completed an exploration target mineralization inventory (ETMI) estimate that demonstrates the huge scale and potential economic significance of Nuinsco Resources Ltd.'s 100-per-cent-owned Prairie Lake project in northwestern Ontario.
The ETMI sets the target estimate for the two areas drill tested to date, the SW Zone and Jim's Showing, at between 330 and 360 million tonnes averaging 3.5% to 3.7% P2O5 and 0.12% to 0.14% Nb2O5 (1.2 to 1.4 kg/tonne). In addition to phosphorous and niobium, the suite of minerals of economic significance includes tantalum (Ta), uranium (U) and rare earth elements (REE) (including lanthanum (La), cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y)).
"We are very encouraged by the modelling which confirms the potential for significant tonnage at Prairie Lake, particularly given growing demand for tantalum, niobium and REEs in the electronics and other industries," said Paul Jones, president. "The ETMI compares very favourably in terms of grade and tonnage with other reported programs on similar targets, and Prairie Lake still has excellent exploration potential, as evidenced by the fact that the surface area used to define the ETMI covers just 12% of the total surface area of the Prairie Lake complex."
No drilling whatsoever has yet been conducted into the north and east of the intrusive complex providing easily accessible, unexplored, subsurface potential. The ETMI has been defined from 48 of the 66 existing diamond drill holes.
The ETMI, shown in the attached table, forms part of an NI 43-101 technical report to be released within 45 days of this news release.
PRAIRIE LAKE EXPLORATION TARGET MINERALIZATION INVENTORY (ETMI)(i) SW Zone Jim's Showing TotalP2O5 (%) 3.5 - 3.7 3.7 - 4.0 3.5 - 3.7Nb2O5 (%) 0.13 - 0.14 0.10 - 0.11 0.12 - 0.14Ta2O5 (ppm) 26 - 27 27 - 28 26 - 27U3O8 (%) 0.005 -0.006 0.017 - 0.018 0.007 - 0.018La (ppm) 98 - 106 12 - 14 110 - 120Ce (ppm) 293 - 319 37 - 41 330 - 360Sm (ppm 60 - 66 57 - 63 58 - 64Nd (ppm) 317 - 322 310 - 337 315 - 325Y (ppm) 88 - 93 95 - 101 91 - 93Combined REE (ppm) 1490 - 1525 1516 - 1597 1490 - 1536volume (m3 millions) 98 - 106 12 - 14 110 - 120tonnes (millions) 293 - 319 37 - 41 330 - 360(i) The potential quantity and grade of the ETMI is conceptual in nature andthere has been insufficient exploration to define a mineral resource.It is uncertain if further exploration will result in the discovery ofa mineral resource.
The ETMI was estimated by Eugene Puritch, P.Eng and Antoine Yassa, P.Geo. of P&E Mining Consultants Inc. of Brampton, Ont., using an average 3.0-tonne-per-cubic-metre bulk density as determined from site visit verification sample analyses performed by SGS Canada. The SW Zone and Jim's Showing have sufficient drill-hole density to allow an ETMI; little or no drilling has been conducted elsewhere on the intrusion.
Recent metallurgical testing by Nuinsco indicates that dense media separation and magnetic separation processing are a means of producing concentrates from Prairie Lake containing mineralization of sufficiently elevated grade to be of potential economic interest (see Nuinsco news release of October 19, 2009). In particular a non-magnetic concentrate returned mean values of 9.4% P2O5, 0.29% Nb2O5, 35.9 ppm Ta, and 2808 ppm combined rare earth elements. Results of additional metallurgical testing will be reported shortly.
Project highlights are:
- Located just 28km north of the Trans Canada Highway and the CPR railway and accessible year round by an all-weather gravel road which actually crosses the property.- The Prairie Lake Carbonatite Complex has a surface area of 2.8 km2 (approximately 2km north-south by 1.7km east-west) with a pronounced circular topographic expression and relief of 5-70m above the surrounding plain, further enhancing access to the project.- Jim's Showing Area at Prairie Lake hosts a near-surface historic (non- NI-43-101-compliant) uranium resource of over 180,000 tonnes grading 0.09% U3O8 and 0.25% Nb2O5.- The ETMI was derived from core samples drilled at Prairie Lake from 1969 to 2008 with 2,502 Nb2O5 analyses, 2,484 P2O5 analyses and 1,755 Ta2O5 analyses.- Mineralization occurs at surface and carbonatite rock continues to depths of at least 500m with grades similar to those at and near surface. For example: 3.16% P2O5, 0.104% Nb2O5, and 32ppm Ta2O5 over 82.32m (DDH NP0809; 443 to 525.58m) and 3.96% P2O5, 0.082% Nb2O5 and 25ppm Ta2O5 over 372m (DDH NP0810; 125 to 497m).(1)- Higher grade intervals indicate potential for domains of elevated grade(1): -- 18.05% P2O5, 0.76% Nb2O5 and 0.018% Ta2O5 over 1 metre (DDH NP0709; 49-50m) -- 6.12% P2O5, 1.01% Nb2O5 and 0.007% Ta2O5 over 1 metre (DDH NP0711; 97.5-98.5m) -- 4.41% P2O5, 0.37% Nb2O5 and 0.059% Ta2O5 over 1 metre (DDH NP0711; 23.75-24.75m)
Analyses were conducted by Activation Laboratories of Ancaster, Ont.
Paul Jones, PGeo, president of Nuinsco, and Eugene Puritch, PEng, president of P&E Mining, have reviewed and approved the contents of this news release.
Cambridge House: Vancouver Resource Investment Conference
Nuinsco and Victory Nickel Inc. will be attending the Vancouver Resource Investment Conference. Please visit both companies at booth No. F704 in the Fairmont Hotel, 900 West Georgia St., Vancouver, B.C., on Jan. 17 and 18, 2010.
We seek Safe Harbor.