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

To: Gord Bolton who wrote (336)	1/25/1999 2:15:00 PM
From: BLZBub	Read Replies (1) \| Respond to of 5821

NUINSCO REPORTS COMPLETE ASSAY RESULTS FROM DRILL HOLE 99-1 TORONTO, ONTARIO-- Nuinsco announced today complete assay results from diamond drill hole #99-1, on the Company's 100% owned Lac Rocher property about 120 km northeast of Mattagami, Quebec. On January 21 the Company reported results from the bottom mineralized portion of the drill hole where the highest mineral values are located. The following table shows drill hole intercepts for minerals analysed for #99-1. From To Length Cu Ni Co Pt Pd (m) (m) (m) (%) (%) (%) (ppb) (ppb) 123.5 147.0 23.5 (77.1 ft) 0.20 0.47 0.014 47 37 147.0 166.0 19.0 (62.3 ft) 0.41 1.20 0.03 96 65 166.0 180.5 14.5 (47.6 ft) 1.15 2.34 0.06 208 120 180.5 183.7 3.2 (10.5 ft) 0.25 10.80 0.23 601 363 183.7 185.0 1.3 (4.3 ft) 0.15 1.05 0.23 762 55 123.5 185.0 61.5 (201.7ft) 0.49 1.69 0.04 144 82 The hole was spotted on a deep EM pulse anomaly at the northwest edge of a gabbroic intrusion. Hole #99-1 is 50m southeast on the trend of the previous drilling which intersected disseminated nickel copper sulphide mineralization. Further drilling will follow this southeast trend into the main mass of the nickel-bearing gabbro intrusion. This intrusion is at least one kilometer in diameter. Preliminary scanning electron microprobe analysis of samples of massive sulphide show that all of the nickel mineralization occurs in a coarse grained pentlandite typically 10 millimeters in width. The associated pyrrhotite contains negligible nickel. The ratio of nickel to total sulphides is 1:10 throughout the mineralized section. Drill hole #99-2 was drilled from the same set-up but in the opposite direction towards the thin edge of the gabbro to test a weak IP anomaly. This hole intersected only low concentrations of sulphide mineralization which are not expected to show economic values. Drill hole #99-3 was drilled some 700m NE of hole #99-1 testing an unrelated, weak surface geophysical anomaly. The hole was collared in gneiss away from the nickel-bearing gabbro host. The hole was halted at a vertical depth of 260m. No explanation for the geophysical anomaly was found. These three holes complete Phase I of a helicopter-supported program on Lac Rocher. This work was financed by a rights offering completed in late December, 1998. Due to the impressive results in this short program, the Company is now organizing an aggressive drilling campaign to take advantage of optimal winter conditions. Phase II will include building a winter access road, mobilizing heavy drills and establishing on-site infrastructure. 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)#82-1846.