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

To: Bron-y-aur who wrote (68)	1/21/1999 12:01:00 PM
From: rdww	Read Replies (1) \| Respond to 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