Nuinsco Commences New Metallurgical Studies at Prairie Lake
Nuinsco Commences New Metallurgical Studies at Prairie Lake
Toronto, January 26, 2023 – Nuinsco Resources Limit ed (“ Nuinsco” or the “Company”) (CSE: NWI) today
announced that it has commenced a new phase of metallurgical studies at its Prairie Lake critical minerals and
phosphate project located near Terrace Bay, Ontario (“Prairie Lake” or the “Project”). The new program follows
from very successful earlier metallurgical work that demonstrated th e Prairie Lake carbonatite can produce
phosphate concentrate that exceeds 30% P 2O5 , suitable for use in agricultural applications with substantial rare
earth element (“REE”) content, indicating excellent potential for economic viability.
“Importantly, th is work will lead to the production of concentrate that will be used in planned studies of REE
recovery,” said Paul Jones, Nuinsco’s CEO. “Apatite from the Prairie Lake project contains amongst the world’s
highest known light rare earth element content.”
A 250kg sample of blended carbonatite-ijolite rock from the Prairie Lake project has been sent to SGS Laboratories
Lakefield, Ontario facility where it will be evaluated through a series of studies. The intent of the current program
is further understanding into mineralogical, chemical and physical characteristics of the rock that will provide more
detailed insight into processing and concentration of the Prairie Lake feed.
“The new metallurgical work , currently in progress , will provide added insight into a critical facet of the
development of the Prairie Lake project,” Mr. Jones added . “From our earlier studies we know that high value
phosphate concentrate can be produced from Prairie Lake carbonatite rock. We are now e xpanding examination
to include study into recoveries from ijolite rock, the other main rock type at the Project. The sheer magnitude of
the mineral resource estimate at Prairie Lake (refer to news release dated May 31, 2022), the apatite containing
amongst the highest rare earth element conten ts in the world , and the innumerable forecasts of dramatically
increased global demand for phosphate and REE s over the coming decades , in agriculture, vehicle electrification,
and a host of other applications, makes the Prairie Lake project an incredibly exciting and an extremely strategic
and valuable asset.”
The current metallurgical program comprises mineralogical analysis, grindability and abrasion test s, a heavy
liquid/dense media separation study, stage grinding, low intensity magnetic separation, gravity separation, batch
phosphate/REE flotation tests, and niobium flotation. At the conclusion of the tests , apatite concentrate will be
further evaluated for REE recovery. The Company has requested proposals for onward REE recovery test programs.
The Project benefits from being in a politically stable jurisdiction; is exceptionally located near to available rail, road,
shipping, and power infrastructure; and is ideally placed in North America with respect to current supply chain
concerns for critical minerals.
Prairie Lake consists of 46 mineral claims covering an area of ~630 ha. Prairie Lake is superbly lo cated, easily
accessed by an all-weather road from the TransCanada Highway located 28 kilometres to the south.
Laura Giroux, P.Geo, Chief Geologist, acts as Nuinsco's Qualified 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 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 four properties in Ontario – the high-grade Sunbeam gold property near Atikokan, the
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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 hist oric 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 su ch 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 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 Nuinsc o to differ materially from those discussed in the 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, changes 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, unexpected geological conditions,
imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety ris ks,
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.
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