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

To: Salt'n'Peppa who wrote (5658)	3/3/2000 12:22:00 PM
From: Buckey	Respond to of 5821

I like NWI very much - Obviously the market expected this as not much happened - I did not buy or sell any Evrything just keeps going up for me except NWI - I am being patient here - we will be possibly rewarded this year.

To: Salt'n'Peppa who wrote (5658)	3/6/2000 9:05:00 AM
From: Buckey	Read Replies (1) \| Respond to of 5821

Nuinsco receives Thompson results Nuinsco Resources Limited NWI Shares issued 44,772,438 Mar 3 close $0.77 Mon 6 Mar 2000 News Release Mr. H. Douglas Hume reports Nuinsco Resources has completed 10 holes of an 18-hole drill program on the Mel deposit in the Thompson nickel belt, Man. Among the highlights of this program: drill hole 2000-6 intersected 10.2 metres of 2.43 per cent nickel, drill hole 2000-9 intersected 19.4 metres of 1.98 per cent nickel and drill hole 2000-10 intersected 11.7 metres of 2.60 per cent nickel. Earlier work on the Mel deposit resulted in the calculation of a resource of 6.3 million tonnes grading 1.25 per cent nickel. The purpose of the current drill program is to delineate a minable resource by drilling step-out holes from a previous Inco intersection which averaged 1.89 per cent nickel over 36.5 metres across two zones of mineralization. The primary Zone A remains open down plunge and along strike over minable widths and Zone B appears to be pinching out at depth. The results from the first 10 Nuinsco holes and one previous Inco drill hole are shown in the table below. Hole Dip No. Section Departure Azimuth (deg.) 2000-1 9014 S 2750 E 270 -58 2000-2 9014 S 2750 E 270 -69 2000-3 9065 S 2760 E 270 -62 2000-4 9065 S 2760 E 270 -51 2000-5 8965 S 2740 E 270 -60 2000-6 8965 S 2740 E 270 -45 2000-7 9115 S 2830 E 270 -58 2000-8 9115 S 2830 E 270 -47 2000-9 8915 S 2750 E 270 -60 2000-10 8915 S 2750 E 270 -45 Hole From To Length Assay No. Section (m) (m) (m) (%Ni) 2000-1 9014 S 93.1 102.1 9.0 1.06 2000-1 9014 S 106.8 108.7 1.9 2.49 2000-2 9014 S 116.2 125.7 9.5 0.81 2000-3 9065 S 100.1 101.9 1.8 2.20 2000-3 9065 S 106.4 112.2 5.8 1.27 2000-4 9065 S 90.8 94.2 3.4 1.60 2000-4 9065 S 98.6 104.7 6.1 2.18 2000-5 8965 S 94.1 100.0 5.9 1.94 2000-6 8965 S 83.5 93.7 10.2 2.43 2000-6 8965 S 100.7 105.6 4.9 2.55 2000-7 9115 S 123.9 128.1 4.2 2.08 2000-8 9115 S 92.8 100.2 7.4 2.14 2000-9 8915 S 93.1 112.5 19.4 1.98 2000-10 8915 S 83.4 95.1 11.7 2.60 Previous Inco Hole 9000 S 68.6 105.2 36.6 1.89 The results to date complement the previous drill results, which suggested an economic near-surface nickel deposit, with minor copper values of 0.15 per cent to 0.20 per cent, located within 40 kilometres of Inco's Thompson facility. Geophysical surveys on the adjoining Mel claim block have identified a number of targets for follow-up with diamond drilling. These targets coincide with areas of known nickel mineralization. Further exploration opportunities are present on the Strong and Moak claims adjacent to and northeast of the Mel claims. Nuinsco has the right to earn a 49-per-cent interest from Falconbridge on the Strong and Moak claims. Bucko deposit A 4,000-metre, 11-hole drill program is currently under way to test mineralization and to obtain metallurgical test samples on a known high-grade zone containing up to 9 per cent nickel over 14 metres. Results from the first five holes were previously reported in the March 3, 2000, press release. Minago deposit Nuinsco has recently acquired a 100-per-cent interest in this deposit for a cash payment and a 1-per-cent net smelter royalty below a nickel price of $4 (U.S.) per pound. This nickel-copper-cobalt-palladium deposit is located 200 kilometres south of Thompson, 100 kilometres south of the Bucko deposit, and is within two kilometres of a major road and power line. Studies conducted by Fluor Daniel Wright in 1992 projected a 13.4-per-cent after-tax return on equity. The study was based on a resource estimated by Roscoe Postle and Associates of 10.6 million tonnes, averaging 1.19 per cent nickel to a depth of 550 metres, and which used the following unit metal prices: nickel $5.29 ($6.72), copper $1.18 ($1.13), cobalt $15.29 ($21.74), and palladium $94 ($1,017). Prices are quoted in Canadian dollars and current prices have been included in brackets. The annual payable palladium was projected at 6,000 to 7,000 ounces. Additional exploration is planned to test a nose-fold structure adjacent to the known resource. Nuinsco's interest in the three known nickel deposits with development potential are summarized below: Mel 6.3 millimetres at 1.25 per cent Nickel Interest: earning 100 per cent (Inco Limited has a 51-per-cent back-in) Bucko 1.5 millimetres at 2.6 per cent Nickel Interest: Earning 100 per cent subject to NSR Minago 10.6 millimetres at 1.19 per cent Nickel Interest: Earning 100 per cent subject to NSR (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com