This company seems to have 2 good properties, Cameron Lake(with Cambior) and Rainy River Ont with reasonable results:
TORONTO, ONTARIO-October 7, 1996-Nuinsco Resources Limited today
reported that it intersected a long interval of impressive
mineralization in diamond drill hole nb. NR96-51. From 170.69 m to
182.96 m (40.26 ft), the hole intersected a layered mafic-ultramafic
intrusion with 2.93 m of massive sulphide grading 3.31 percent nickel,
2.34 percent copper, 3.54 grams per tonne platinum, 7.94 grams per
tonne palladium, 0.60 grams per tonne gold and 35 grams per tonne
silver. The mafic-ultramafic body and its contained sulphide
mineralization is the eastern continuation of the Ni-Cu-PGE (platinum
group elements) sulphide discovery zone; gross value of the
intersection exceeds C$400 per tonne.
Below this high grade nickel intercept, from 186.13 m to 214.62 m
(93.5 ft) the weighted average grade of gold was 3.10 grams (0.10
ounces) per tonne, including 0.35 m (1.2 ft) of 3.44 ounces per tonne
gold. The gold bearing rock extends the nb.17 Zone eastward.
NR96-51 was drilled to the north at 65 degrees. It is located about 50 m east of drill hole nb.95-34, the Ni-Cu-PGE discovery hole. DDH
nb.NR96-51 was to test the potential of both Ni-sulphide
mineralization and the gold mineralization to the east of previously
drilled areas. These results extend both the gold mineralization of the nb.17 Zone and the Ni-Cu-PGE body.
H. Douglas Hume, President, stated that the significance of this
intercept is that the drill hole provides further confirmation of the
remarkable richness of the nickel-copper-PGE mineralization which can
be expected to be representative of the source material, yet to be
discovered. Additional compelling evidence supports the premise that
the nb.17 Zone is developing into a major gold deposit.
The present drill program is designed to confirm continuity of the
nb.17 Zone and the massive sulphide deposit. The Company initiated
fill-in drilling on 50-meter centers across the 800 m, east-west strike length of the nb.17 Zone. The Zone is continuous and is open in
three directions. Nuinsco previously reported the best diagonal hole,
NR96-45, drilled near the center of the nb.17 Zone produced 205.3 ft
averaging 0.164 ounces per tonne gold (the first 50.18 ft of the core
assayed a spectacular 0.438 ounces per tonne). Exploration, including
a series of diagonal holes, is continuing on the nb.17 Zone.
Nuinsco is an exploration and development Company whose projects are
located in northwestern Ontario. Shares on Nuinsco trade on the
Toronto Stock Exchange under the symbol NWI. U.S. S.E.C. Exemption:
12g3-2(b)#82-1846.
Yet the stock is at $3.15 and falling.
This makes no sense to me so any comments/info appreciated |
