Results on Lac Rocher property
Nuinsco Resources Limited NWI
Shares issued 34,407,866 May 4 close $0.70
Tue 5 May 98 News Release
Mr. H. Douglas Hume reports
Seven of the diamond drill holes intersected disseminated nickel copper
mineralization in a noritic phase of a layered mafic-ultramafic intrusion.
Preliminary exploration on the company's optioned Lac Rocher property about
75 miles north of Matagami, Quebec consisted of 10 diamond drill holes to
test favourable surface geology and to explain responses from an earlier IP
geophysical survey. This program has tested only a 50m portion of the 1km
long IP anomaly.
The sulphide bearing intrusion is hosted by biotite gneiss. This limited
drilling suggests the mineralized intrusion is at least 150m wide and
elongated in a northwest-southeast direction. The zone appears to plunge at
a shallow angle to the southeast. The length and thickness has yet to be
determined. In the direction of the plunge there is an increase in nickel
copper assay values. With this class of deposit it is hoped the improving
trend will lead to massive and semi-massive sulphides of much higher grade.
Moving in a southeast direction, hole No. 9 is the most significant, with
continuous mineralization over 102m, a respectable width. While the
weighted average grade of the drill core from the program assayed 0.5 per
cent nickel and 0.2 per cent copper, there were several sections in three
holes that assayed over 1 per cent nickel. Anomalous values of platinum,
palladium, cobalt and gold were found in all holes. Additional regional
exploration targets have been identified. The original group of 20 claims
measuring 790 acres (320 ha) has been enlarged to 197 claims totalling
7,788 acres (3,152 ha) to protect potentially mineralized mafic bodies with
coincident airborne EM and magnetic anomalies and to provide land
protection in the work area and the original discovery outcrops.
Encouraging results and the absence of any prior exploration history attest
to the highly prospective character of the Lac Rocher property. Additional
diamond drilling is planned to trace the mineralized body along strike and
to depth, while geophysical surveys will provide other regional targets.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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