Nuinsco Begins Drilling at Berta Copper-Gold Project in Northeastern Turkey
Thu Apr 10, 12:10 PM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - April 10, 2008) - Nuinsco Resources Limited ("Nuinsco")(TSX: NWI.TO)( www.nuinsco.ca) today announced that diamond drilling of high-priority targets has begun at its Berta Project in northeastern Turkey. The 2008 drill program will be operated by Nuinsco's 50% joint venture partner Xstrata Copper one of the commodity business units within Xstrata plc (LSE: XTA.L)(SWX: XTR.SW) and build upon the spectacular results obtained from drilling in 2007 where DDH SD-07-08 returned an interval of 710.9m grading 0.28% copper and 0.07 g/t gold between 3.80m and 714.7m.
"Berta has tremendously exciting geology, and the drill results from last year highlight the enormous potential of this essentially unexplored project," said Paul Jones, President. "The 2,000 metre 2008 drill program will continue to test the highly prospective domain intersected in 2007 by DDH SD-07-08."
Hole SD-07-08 was collared to test a broad domain of low-resistivity in the northern part of the altered and mineralized system at Berta identified from an airborne AEM/AMAG survey. Importantly hole SD-07-08 was collared approximately 350 metres south of a drill hole completed by Inco in 1993; this hole intersected sulphide bearing sediments that returned an interval of 0.19 g/t gold and 0.36% copper over 43.5 metres. The proximity of these drill holes indicates the potentially significant size of the mineralized area.
The Berta Property is located approximately 50 kilometres south of the Black Sea in northeastern Turkey, within the prolifically mineralized Tethyan-Eurasian Metalogenic Belt which hosts numerous ore deposits in several countries including Iran's Sarcheshmeh Mine, one of the world's largest copper mines at 1.2 billion tonnes grading about 1% copper. The property is reputed to host the largest copper anomaly in the Turkish Pontides, covering 15 square kilometres and more than 1,000 metres of vertical elevation. P.L. Jones, President, acts as Nuinsco's Qualified Person under National Instrument 43-101.
About Nuinsco Resources
Nuinsco is focused on identifying mineral investment opportunities worldwide using its exploration programs and operating and financial expertise to crystallize value for its shareholders. In addition to its property holdings in Canada and Turkey, Nuinsco owns approximately 22% of the outstanding common shares of Victory Nickel Inc. (TSX: NI.TO) and approximately 11% of the outstanding common shares of gold and copper producer Campbell Resources Inc. (TSX: CCH.TO). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.
For further information, please visit our website at www.nuinsco.ca.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements." All statements, other than statements of historical 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 commodity 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 necessary permits and approvals from government authorities, 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.
Contacts
Rene Galipeau
Nuinsco Resources Limited
(416) 626-0470
Paul Jones
Nuinsco Resources Limited
(416) 626-0470
Sean Stokes
Nuinsco Resources Limited
(416) 626-0470
Email: admin@nuinsco.ca
Website: www.nuinsco.ca |
