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Gold/Mining/Energy : Nuinsco Resources (NWI) -- Ignore unavailable to you. Want to Upgrade?

To: Flea who wrote (5170)	9/1/1999 10:42:00 AM
From: Just G	Read Replies (2) \| Respond to of 5821

Here we go folks, great way to start a new month! Canadian Company Press Release NWI 1999-09-01 (provided courtesy of BCE Emergis E-News Services.) register to receive future releases by email from BCE Emergis E-News Services Nuinsco Provides Exploration Update On Quebec And Ontario Projects; Lac Rocher Drilling To Begin Mid-September Toronto, Ontario-- Nuinsco Resources Limited today announced it has identified many significant drill targets following a summer-long series of geophysical programs and prospecting at its Lac Rocher property. Drilling on the top-priority drill targets is expected to begin by mid-September. Nuinsco's 100%-owned Lac Rocher land package consists of 400 contiguous claims on 54 square kilometres. Lac Rocher, Quebec ------------------ Exploration since the spring has included (i) grid control, geological mapping and prospecting of several magnetic features and (ii) various geophysical methods, including airborne EM, induced polarization, magnetometer, in-loop Pulse-EM, borehole Pulse-EM, E-Scan and UTEM. The airborne geophysical survey identified 20 high priority geophysical targets, while the geo-electric survey (3-D Imaging) testing the Discovery anomaly identified three new drill targets. Prior to spring break-up 61 diamond drill holes totalling 12,319 metres tested the discovery area and, to a lesser degree, other outlying geophysical responses. Nuinsco identified an untested mafic to ultramafic intrusion enclosed within paragneisses, the "Anomaly A" intrusion, some 3 km to the west of the Discovery Anomaly. Other ovate magnetic responses within the claim group remain to be tested. Massive sulphide is hosted exclusively by pyroxenite and occurs at both the footwall contact of the Discovery intrusion or suspended within pyroxenite. While the mineralization outlined provides positive evidence of commercial ore, the Company has not yet discovered a mineable deposit. The "Anomaly A" intrusive is similar in most respects to the Lac Rocher Discovery anomaly. In particular, "Anomaly A" displays strongly depleted nickel as in the fertile portion of the Discovery intrusion which suggests that the two may be related. This information is highly significant, as the barren phases of the Discovery intrusive are not depleted. By way of explanation, depletion indicates the nickel has been removed and concentrated elsewhere, thus enhancing the possibility of the formation of nickel-bearing massive sulphides at depth. A deep penetrating geophysical survey (UTEM) has delineated at least one priority drill target. "Anomaly A" intrusive will be an important target area for nickel in the next stage of field exploration. The high-grade nature of the mineralization in the Discovery zone coupled with positive results of follow-up geochemical and geophysical studies provide ample encouragement to continue to explore Lac Rocher. Confederation Lake, Red Lake District, Ontario ----------------------------------------------- This recently acquired property is the subject of a 5,000-foot diamond drilling program now in progress to test three distinct geophysical anomalies. One drill hole was completed on the first target. Over 30 metres of disseminated sulphides and up to 25% stringer sulphide mineralization, including one short section of massive sulphides, have been intersected. The Company's geophysical consultant believes that the drill hole may have cut the edge of a larger significant sulphide body, as interpreted from the strength of the surface geophysical anomaly. A second hole is planned to further test this anomaly following completion of a down-hole EM survey. The drill has been moved to the second anomaly, while the drill cores are being analyzed and geophysical surveys completed. Rainy River, #34 Zone, Ontario ------------------------------- A limited drill program using a larger size core is in progress. It was designed to intersect the intensely mineralized # 34 nickel zone to better ascertain tonnage and grade data as well as metallurgical characteristics. This will assist in the Company's evaluation to go underground at Rainy River. Nuinsco is an exploration company with projects in northwestern Ontario (Rainy River and Confederation Lake), northwestern Quebec (Lac Rocher), and Manitoba (Mel Property). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI. U.S. S.E.C. exemption: 12g3-2(b)#82-1846. - 30 - FOR FURTHER INFORMATION PLEASE CONTACT: H. Douglas Hume, Chairman & CEO, or Garry Hughes, President & COO Nuinsco Resources Limited (416) 626-0470 Cathy Hume or Olav Svela, Investor Relations Hume, Kieran Inc. (416) 868-1079