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NUINSCO RESOURCES LTD.
NUINSCO REPORTS FURTHER LAC ROCHER ASSAY RESULTS
NEAR DISCOVERY
Nuinsco Resources Limited today announced the latest assays from
the 100%-owned Lac Rocher property 120 kilometers northeast of
Mattagami, Quebec.
Highlights from the recent drilling include Hole 99-06, which
intersected 47.07 metres grading 1.59% nickel and 0.57% copper,
including a high-grade intercept of 2.57 metres grading 11.24%
nickel and 0.76% copper. (Full results are tabulated below.)
Company President H. Douglas Hume said that "Hole No. 99-06
reflects both the high-grade component with massive sulphides,
and the wide, lower-grade, intercepts that we have seen in
earlier drill holes. The results are promising because
nickel-bearing sulphide mineralization occurs in virtually every
hole that has been assayed."
The Company considers developments to date to be typical of the
early stages of a major new exploration undertaking. For this
phase of the program the Company has budgeted up to $3.2 million
in funds. Objectives of this work will be to: (1) interpret the
host rock geology in order to determine which phase of the
layered intrusion is associated with the nickel-copper sulphide
mineralization; (2) resolve the structural setting and geometry
of the discovery zone to determine the down-plunge direction of
the massive sulphides; and (3) determine the sense of
displacement across faulting on Line 10+50 N.
Significant mineralized intercepts from recently assayed holes
include the following:
HOLE FROM TO LENGTH Ni Cu Co Pt Pd Ag
No. (m) (m) (m) (%) (%) (ppm)(ppb)(ppb) (ppm)
-----------------------------------------------------------------
#99-05 154.55 159.40 4.85 1.48 0.74 410 * * 6.80
#99-06 96.65 141.15 44.50 1.03 0.60 257 152 90 4.37
141.15 143.72 2.57 11.24 0.76 2434 416 267 5.80
96.65 143.72 47.07 1.59 0.57 376 166 100 4.45
#99-07 20.45 31.75 11.30 1.05 0.22 248 539 303 2.64
23.25 28.00 4.75 1.82 0.31 387 863 477 3.64
#99-08 Inter- granite Gneiss - - - - -
-
sected and
#99-09 36.07 102.40 66.33 0.70 0.28 198 * * 2.60
91.50 102.40 10.90 1.08 0.45 285 * * 3.57
*Assays pending.
Diamond drilling completed in 1999 has been sited to better
define the original discovery area, identified in previously
reported holes, 99-01, the extension of 98-09 and 99-04. Thick
intervals of gabbro and particularly pyroxenite have been
obtained from most drill holes and continue to be intersected in
the most recently drilled holes. Disseminated and massive
sulphide zones at the base of the host layered gabbro-pyroxenite
intrusion indicate the nickel-copper mineralization may be
widespread. Massive sulphide intervals have been encountered at
the contact between the layered intrusion and the enveloping
feldspathic gneiss and as bands within the pyroxenite above the
footwall contact in drill holes 98-09 extension, 99-04 and 99-06.
Results of 1999 drilling received to date cover only 150 metres
of strike of the host gabbro-pyroxenite intrusion; magnetic
surveys indicate that the host body is more than one kilometre in
length. Diamond drilling is currently continuing with two drill
rigs. The drill hole spacing will be increased so that the host
intrusion can be tested further away from the discovery area.
Numerous geophysical responses (IP, EM and magnetic) will also be
tested. Down-hole pulse EM surveys in Holes 99-17 and 99-18 have
detected an off-hole anomaly, which the Company is optimistic
will result in locating additional massive sulphide
mineralization. Borehole Pulse EM geophysics will be
consistently used as a tool to guide future drilling.
The following table summarizes drill hole locations, dip,
direction and depth of holes completed to date. Assays are
pending for holes 99-10 through 99-18.
Drill Location Angle Azimuth Depth Comments
hole# (deg- (deg- (m)
rees) rees)
----------------------------------------------------------------
99-05 Line 10+50N at 1+75W -90 Vertical 197.0 Targeted on
sulphide trend
99-06 Line 11+00N at 1+65W -90 Vertical 155.0 as above
99-07 Line 11+00N at 1+15W -90 Vertical 148.3 as above
99-08 Line 10+50N at 2+00W -90 Vertical 200.0 In Gneiss - no
significant
assays
99-09 Line 11+50N at 1+50W -90 Vertical 125.0 Targeted on
sulphide trend
99-10 Line 10+50N at 1+50W -90 Vertical 209.0 as above
99-11 Line 11+50N at 1+75W -90 Vertical 113.0 as above
99-12 Line 10+50N at 1+25W -90 Vertical 217.0 as above
99-13 Line 10+00N at 0+50W -80 225 247.0 as above
99-14 Line 10+50N at 0+75W -90 Vertical 34.0 Aborted at 34m
in fault
99-15 Line 10+50N at 0+74W -90 Vertical 230.0 Targeted on
sulphide trend
99-16 Line 10+00N at 0+50W -50 45 149.0 as above
99-17 Line 10+00N at 0+55W -50 225 243.0 Testing gabbro
contact
99-18 Line 10+00N at 2+50W -85 225 218.0 Testing SW
gabbro contact
A drill plan and longitudinal sections are being updated for
posting on the Company's website.
Nuinsco Resources Limited is an exploration and development
company with projects in northwestern Ontario (Rainy River) and
northwestern Quebec (Lac Rocher). Both properties are 100% owned
by Nuinsco. Shares of Nuinsco trade on the Toronto Stock
Exchange under the symbol NWI. U.S. S.E.C. exemption:
12g3-2(b)#821846.
-30-
FOR INFORMATION PLEASE CONTACT:
H. Douglas Hume, President or George Archibald, VP of Exploration
and Designated Qualified Person
Nuinsco Resources Limited:
(416) 626-0470
Cathy Hume or Olav Svela
Hume, Kieran Inc., Investor Relations:
(416) 868-1079
This release is available at nuinsco.ca.
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