NWI.CN · 2021-11-29 12:00:00

Nuinsco Announces 602.24 m Intersection of Continuous Critical Elements & Phosphate Mineralization at Prairie Lake Project

Exploration Programs

Nuinsco Announces 602.24m Intersection of Continuous Critical Elements & Phosphate

Mineralization at Prairie Lake Project

Toronto, November 29, 2021 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE: NWI) today

announced receipt of analyses f rom diamond drill hole NP1003, r esulting in a continuous intersection of Critical

Elements and Phosphate measuring 602.24m (from 2.76‐605m) in length in the SW Area of its 100%‐owned Prairie

Lake project (the “Project”) near Terrace Bay, Ontario. The intersection from DDH NP1003 continues the succession

of intersections of exceptional length from the SW Area of the project.

“The remarkable result of 602.24m of mineralized rock obtained from DDH NP1003, the longest intersection to

date, further highlights the exceptional opportunity presented b y t h e P r a i r i e L a k e P r o j e c t , ” s a i d P a u l J o n e s ,

Nuinsco’s CEO. “A mineralized int ersection of this extent, wel l over a third of a mile long, with no indication that

the mineral endowment is diminishing with depth speaks to the extraordinary potential scope of the project. As we

have previously noted the combined intersections from the SW Area now define an extensive domain of rare earth

element, niobium, tantalum, and phosphate mineralized rock that is approximately one kilometre long and up to

750m wide – only part of the much larger mineralized domain on the project that remains to be fully evaluated.

The project is a substantial asset to the Company”

Analytical results from the 602.24m of continuous mineralizatio n from DDH NP1003, of niobium (Nb), tantalum

(Ta), phosphate (P2O5), and rare earth elements (REE) including lanthanum (La), ceriu m ( C e ) , s a m a r i u m ( S m ) ,

neodymium (Nd), praseodymium (Pr), scandium (Sc), and yttrium (Y) are tabulated in the “Analytical Results” table

below. The sampling program has focussed on drill‐holes collared to intercept the SW area which currently

measures 1km in total length a nd is between 150m and 750m wide at surface. The SW area alone hosts 435‐530

million tonnes of the total 515‐ 630 million tonne Prairie Lake Project ET, with grades as t abulated in the “Prairie

Lake ET” table below.

Analytical Results DDH NP1003:

Hole ID From

(m)

Width

(m)

Rock

Type*

P2O5

(%)

Nb2O5

(%)

Ta2O5

(%)

(g/t)

∑REE

(g/t)

New intersections:

NP1003

40.45 93.2 52.75 CRBT/PYX 2.37 0.091 0.0026 22 63 390 896 107 4 11 63 1952

147.5 181.7 34.2 PYX 1.63 0.197 0.0015 39 52 489 1188 143 533 7 6 2520

260.25 266 5.75 PYX 1.23 0.231 0.0018 33 53 341 808 103 395 60 1794

274.8 299 24.2 PYX 2.37 0.179 0.0032 25 45 242 570 71 277 46 12 76

397.5 410.6 13.1 PYX 1.98 0.115 0.0012 36 46 142 343 48 209 42 866

601 605 4 IJ 1.48 0.028 0.0016 2 123 120 277 38 169 40 769

Combined extended intersections:

NP1003 2.76 605 602.24 ‐‐ 3.15 0.131 0.0017 15 71 304 731 90 35 2 59 1621

*Principal rock type: CRBT=carbonatite, SILCARB = silicocarbonatite, IJ= ijolite, PYX = pyroxenite

The mineralization of economic interest contained within the Pr airie Lake intrusion occurs at surface and extends

to unknown depths below the deepest drilling yet conducted (cir ca 525m vertically). There is no indication that

mineralization diminishes with depth and the intersections from the Program reported to date occur in a domain

that presently extends 1000m, oriented southeast‐northwest, in the Southwest (“SW”) Area (see map above). The

Prairie Lake complex hosts a suite of elements of economic inte rest identified as Critical Elements defined under

the Canadian Minerals and Metals Plan (“CMMP”) contained within the very large domain of mineralized rock that

is extremely favourably located from a logistical perspective with rail, road, shipping, and power infrastructure

already established. Prairie Lake hosts a number of elements and compounds of economic interest including those

for which demand is projected to substantially increase and for which secure supply chains are sought.

The Prairie Lake project consists of 46 mineral claims covering an area of ~630 ha. Prairie Lake is superbly located,

easily accessed by an all‐weather road from the TransCanada Hig hway located 28 kilometres to the south. The ET

is defined by 59 diamond drill holes.

All samples were analysed by Activation Laboratories (ActLabs) in Ancaster, Ontario. Samples were analysed for a

whole rock and trace element ICP analytical package as well as for niobium, tantalum, and zirconium oxides using

a fusion XRF method. An internal Quality Control Quality Assura nce (QAQC) program was implemented with four

QAQC samples (blanks and reference standards) added into the sampling stream.

Prairie Lake Drilling & Trenching by Target Area1:

1 Trench lengths are calculated as cumulative length of samples along trench.

S W Jim's Showing East NE Other

Areas Total

Historic Drill Holes

(1969‐1983)

Drill Holes 16 11 1 0 17 45

Metres 1351.7 938.4 34.1 0 1528.5 3852.7

Drill Holes (2007‐

2010)

Drill Holes 21 10 0 0 1 32

Metres 6632 1692.4 0 0 101 8425.4

Trenches (2010) Trenching 1 0 2 2 0 5

Metres 377.7 0 433.0 754.55 0 1562.2

Prairie Lake ET2:

2 A full description of methodology used to estimate the Prairie Lake Project Exploration Target is contained in the Technical Report dated 30

November 2018 prepared by P&E Mining Consultants Inc. that is filed on SEDAR. The potential quantity and grade of the ET is conceptual in

nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the discovery

o f a m i n e r a l r e s o u r c e . T h e r e i s n o N a t i o n a l I n s t r u m e n t 4 3 ‐ 1 0 1 – Standards of Disclosure for Mineral Projects preliminary economic

assessment in respect of the Prairie Lake ET.

Laura Giroux, P.Geo, Chief Geologist, acts as Nuinsco's Qualifi ed Person under National Instrument 43‐101. Ms.

Giroux has reviewed and approved the technical contents of this news release.

About Nuinsco Resources Limited

Nuinsco Resources has over 50 years of exploration success and is a growth‐oriented, multi‐commodity mineral

exploration and development company focused on prospective oppo rtunities in Canada and internationally.

Currently the Company has four properties in Ontario – the high ‐grade Sunbeam gold property near Atikokan, the

Dash Lake gold property near Terrace Bay, the large multi‐commodity (rare‐earths, niobium, tantalum, phosphate)

Prairie Lake project near Terrace Bay, and the Zig Zag Lake property (lithium, tantalum) near Armstrong. In addition,

Nuinsco has an agreement for gold exploitation at the El Sid project in the Eastern Desert of Egypt.

Forward‐Looking Statements

This news release contains certain "forward‐looking statements." All statements, other than statements of historic fact, that address activities, events or

developments that Nuinsco believes, expects or anticipates will or may occur in the future are forward‐looking statements. For ward‐looking statements are

often, but not always, identified by the use of words such as " seek," "anticipate," "believe," "plan," "estimate, “expect," an d "intend" and statements that an

event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward‐looking statements reflect

the current expectations or beliefs of Nuinsco based on information currently available to Nuinsco. Forward‐looking statements are subject to a number of risks

and uncertainties that may cause the actual results of Nuinsco to differ materially from those discussed in the forward‐lookin g statements, and even if such

actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Nuinsco. Factors

that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings,

capital and other costs varying significantly from estimates, p roduction rates varying from estimates, changes in world copper and/or gold markets, changes

in equity markets, uncertainties relating to the availability a nd costs of financing needed in the future, equipment failure, unexpected geological conditions,

imprecision in resource estimates, success of future developmen t initiatives, competition, operating performance of facilities , environmental and safety risks,

delays in obtaining or failure to obtain tenure to properties and/or necessary permits and approvals, and other development and operating risks. Any forward‐

looking statement speaks only as of the date on which it is mad e and, except as may be required by applicable securities laws, Nuinsco disclaims any intent or

obligation to update any forward‐looking statement, whether as a result of new information, future events or results or otherw ise. Although Nuinsco believes

that the assumptions inherent in the forward‐looking statements are reasonable, forward‐looking statements are not guarantees of future performance and

accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SW Jim's Showing East NE Total

REEs

La (ppm) Lanthanum 275 ‐ 340 295 ‐ 360 305 ‐ 370 200 ‐ 250 280 ‐ 340

Ce (ppm) Cerium 650 ‐ 790 670 ‐ 820 670 ‐ 820 450 ‐ 550 650 ‐ 790

Sm (ppm) Samarium 55 ‐ 70 55 ‐ 70 55 ‐ 70 50 ‐ 60 55 ‐ 70

Nd (ppm) Neodymium 295 ‐ 360 290 ‐ 360 320 ‐ 390 235 ‐ 290 300 ‐ 360

Y (ppm) Yttrium 85 ‐ 100 90 ‐ 110 80 ‐ 100 135 ‐ 170 85 ‐ 100

La+Ce+Sm+Nd+Y (ppm) 1360 ‐ 1660 1400 ‐ 1720 1430 ‐ 1750 1070 ‐ 1320 1370 ‐ 1660

Additional Elements (as oxides)

P2O5 (%) Phosphate 3.0 ‐ 4.0 3.5 ‐ 4.5 2.5 ‐ 3.0 2.5 ‐ 3.5 3.0 ‐ 4.0

Nb2O5 (%) Niobium 0.095 ‐ 0.115 0.100 ‐ 0.120 0.040 ‐ 0.050 0.085 ‐ 0.105 0.090 ‐ 0.110

Ta2O5 (ppm) Tantalum 18 ‐ 25 25 ‐ 30 5 ‐ 7 10 ‐ 12 18 ‐ 21

Volume ‐ m3 (million) 140 ‐ 175 12 ‐ 14 13 ‐ 16 2 ‐ 3 170 ‐ 210

Tonnes (million) 435 ‐ 530 35 ‐ 45 40 ‐ 50 7 ‐ 8 515 ‐ 630

To learn more, please visit www.nuinsco.ca or contact:

Paul Jones, CEO Sean Stokes, Executive VP Cathy Hume, Consultant Instagram:

@nuinscoresources

[email protected] [email protected] [email protected]

Twitter:

@NWIResources

← Back to feed