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Gold/Mining/Energy : Nuinsco Resources (NWI)
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To: Bron-y-aur who wrote (68)1/21/1999 12:01:00 PM
From: rdww  Read Replies (1) of 5821
 
Nuinsco reports nickel assays from Lac Rocher

Nuinsco Resources Limited NWI
Shares issued 40,440,366 Jan 20 close $0.75
Thu 21 Jan 99 News Release
Mr. H. Douglas Hume reports
The company has released partial assay results from diamond drill hole No.
LR-99-1, on the company's 100 per cent owned property, 120 kilometres
northeast of Mattagami near Lac Rocher, northwestern Quebec. These results
are from the bottom mineralized portion of the drill hole where the highest
mineral values are located.
At the base of the hole a 3.2-metre massive sulphide section ran 10.8 per
cent nickel. The lower 19 metres assayed 3.68 per cent nickel within a
longer section of 37 metres that ran 2.47 per cent nickel. The 19-metre
section contains significant but lower-grade copper mineralization in the
order of 1 per cent.
Drill hole No. 99-1 was targeted to test a geophysical response related to
nickel-copper mineralization obtained during a diamond drilling program
conducted by Nuinsco in 1998. The drill hole intersected 175.7 metres of a
gabbroic intrusion hosting disseminated and massive sulphide
mineralization. Typically the intrusion contains 3 to 25 per cent
pyrrhotite and pyrite. At the footwall contact, a band of massive sulphide,
3.2 metres wide, occurs. In the more heavily sulphide mineralized parts of
the intrusion pyrrhotite, pyrite, pentlandite and chalcopyrite are
observed. A complete set of assays has yet to be received by the Company
but the 39 results received so far provide ample evidence of strong
nickel/copper sulphide mineralization within the Lac Rocher gabbroic
intrusion.
The company regards this result as a new and very significant discovery in
a region that has received very limited exploration. These very encouraging
results require a full evaluation of the economic potential of the
discovery and the best strategy for follow up work. Nuinsco recently
completed a rights offering to shareholders which raised $1.1-million.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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