Nuinsco Announces High-Grade Results with Visible Gold from Sunbeam Gold Property
Nuinsco Announces High-Grade Results with Visible Gold from Sunbeam Gold Property
High-Grade Values up to 122g/t Gold returned from Sunbeam Mine Area Quartz Veining
Toronto, March 21, 2019 – Nuinsco Resources Limit ed (“Nuinsco” or “the Company”) (CSE: NWI) today
announced that analytical results received from samples collected around the Sunbeam Mine returned very high -
grade results – up to 122 g/t (3.9 oz/t) gold from quartz vein material collected near the past-producing Sunbeam
Mine shaft.
“The analytical results received from the sampling of rock at the Sunbeam Mine confirms our expectations of
grade at the site and demonstrates that very high -grade gold mineralization is present,” said Paul Jones, CEO.
“Given the known extent of the gold min eralization at the site from historic records and the confirmation of gold
grade from our sampling , the Sunbeam area is a prime exploration target both down -dip and along- strike from
the old workings.”
Twenty-eight grab samples, three of which contain visible gold, were collected from near the Sunbeam Mine (see
attached table) - from outcrop, waste-dump material and debris in the Sunbeam shaft. All samples were analysed
for gold and a sub-set were analysed for silver. The range of analytical results is <5ppb to 122g/t gold and <0.2g/t
to 24.8g/t silver. The samples are from material mined from the Sunbeam mine workings during operations more
than 100 years ago and from samples collected from surface near the historic Sunbeam Shaft . Higher gold grade
is directly related to the amount of quartz vein and sulphide mineralization contained within a sample . Highest
gold-grade samples contain pyrite, chalcopyrite, sphalerite and galena as well as visible gold grains.
The Sunbeam Gold Property, optioned by Nuinsco in 2017, encompasses numerous sites of gold mineralization
and includes the historic Sunbeam m ine, a high-grade underground gold mine that operated between 1898 and
1905, as well as the Roy and Pettigrew deposits and a number of other gold showings located on southwest
striking trends that traverse the Sunbeam property. Mineralization at the Sunbeam mine is hosted by a 30m wide
sheared zone of altered , schistose rock . Gold mineralization occurs within a southwest -striking quartz
vein/chloritic zone that has been traced from surface to at least 100m vertically. A 1903 mine plan shows an
average grade of ~13g/t Au in the historic workings (no qualified person, as defined by NI 43 -101, has conducted
sufficient verification to treat the reported grade as other than an historic grade) . There has been no exploration
of the formerly patented mine site since the mine closed 115 years ago. Intermittent exploration surrounding the
patent area was conducted between 1981 and 2012.
The Sunbeam Gold Property consists of 101 unpatented mining claims situated 27km northeast of the town of
Atikokan, Ontario, and 15km southeast of Agnico Eagle’s Hammond Reef gold deposit. It is easily accessible via
well maintained logging roads from Hwy 11. All analyses were conducted by Activation Laboratories at their
Thunder Bay facility (ISO/IEC 17025 Accredited (Lab 673) by the Standards Council of Canada).
Laura Giroux, M.Sc. , P. Geo. is a qualified person as defined by NI 43 -101 and has reviewed and approved the
technical contents of this press release regarding the Sunbeam Project
About Nuinsco Resources Limited
Nuinsco Resources has over 45 years of exploration suc cess and is a growth oriented, multi-commodity mineral
exploration and development company focused on prospective oppor tunities in Canada and internationally.
Currently the Company has two properties in Ontario – the high-grade Sunbeam gold prospect near Atikokan and
the large, multi-commodity (rare-earths, niobium, tantalum, phosphorus) Prairie Lake project near Terrace Bay. In
addition, Nuinsco recently completed an agreement go process gold -bearing dumps and tailings at the past -
producing El Sid mine in the Eastern Desert of Egypt – a project with the potential to provide near-term revenue.
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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. Forward-looking statements are
often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate, “expect," and "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 o f 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 t he forward-looking 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, production rates varying from estimates, c hanges in world copper and/or
gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpe cted
geological conditions, imprecision in resource estimates, success of future development 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 made 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
otherwise. 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.
Sample
ID Description Au_ppb_ Ag_gpt Au_gpt
Fire Assay - AA
Fire Assay-
Grav
Fire Assay -
Grav
P210962
mine dump, mixed sheared host rock and minor
QV 34
P210963
mine dump, mixed sheared host rock and minor
QV 45
P210964
mine dump, mixed sheared host rock and minor
QV > 5000
7.11
P210965
mine dump, mixed sheared host rock and minor
QV 182
P210966
mine dump, mixed sheared host rock and minor
QV < 5
P210967 mine dump, sheared host rock 8
P210968
mine dump, mixed sheared host rock and minor
QV < 5
P210969
mine dump, mixed sheared host rock and minor
QV < 5
P210970 mine dump, sheared host rock < 5
P210971 mine dump, sheared host rock 18
P210972 mine dump, QV 101
P210978 mine shaft, QV, trace sulphide > 5000 22.6 52.6
P210979 mine shaft, sheared host rock 104 1.8
P210980
mine dump, mixed sheared host rock and minor
QV 46 < 0.2
P210981
mine dump, mixed sheared host rock and minor
QV 1820 < 0.2
SS1
mine dump, mixed sheared host rock and minor
QV 101
SS2
mine dump, mixed sheared host rock and minor
QV 7
SS3
mine dump, mixed sheared host rock and minor
QV 112
SS4
mine dump, mixed sheared host rock and minor
QV 393
SQ1 QV, trace sulphide 555
To learn more, please contact:
Paul Jones, CEO Sean Stokes, Executive VP Cathy Hume, Consultant Website:
www.nuinsco.ca
[email protected] [email protected] [email protected] Twitter:
@NWIResources
416 626-0470 x 229 416 626-0470 x 224 416 868-1079 x 231
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SQ2 QV, trace sulphide 78
351601 mine dump, QV, trace sulphide, visible gold > 5000 17.8 41
351602 mine dump, QV 1890 0.3
351603 mine dump, abundant QV > 5000 14.7 9.31
351604 QV 161 < 0.2
351605 QV, sulphides, visible gold > 5000 24.8 122
351606 mine dump, sheared host rock 29 0.4
351607 QV, sulphides, visible gold > 5000 14 36.4