Nuinsco Intersects Down‐Dip Extension to Historic Sunbeam Gold Mine
Nuinsco Intersects Down‐Dip Extension to Historic Sunbeam Gold Mine
Toronto, July 22, 2020 – Nuinsco Resources Limited (“ Nuinsco” or the “ Company”) (CSE: NWI) today announced
that recent diamond drilling at the Sunbeam Gold Property (the “Property”) near Atikokan in northwestern
Ontario successfully intersected the down‐dip extension of the structure hosting gold mineralization at the past‐
producing Sunbeam Mine, returning anomalous gold mineralization.
“The presence of gold mineralized rock at depth below the histo ric Sunbeam mine is very encouraging,” said Paul
Jones, CEO. “In addition to the 15km strike length of gold mineralized structures at surface and known gold
occurrences, the gold mineralization and host‐structure is now known to continue to depth below the historic
work at the Sunbeam Mine. Technical issues resulted in only two h o l e s b e i n g c o m p l e t e d , h o w e v e r t h e r e s u l t s
from those holes add to our knowledge of this extensive domain of little‐explored, favourable gold mineralized
host rock that Nuinsco can explore going forward.”
Diamond drill holes NS‐20‐01 and 02 were collared to test for a n extension of the northeast striking and
approximately 50° northwest dipping host structure to gold min eralization of the historic Sunbeam mine. Both
drill holes were collared at 625N on line 6770E, oriented at 13 5° and inclined at ‐70° and ‐80° respectively. The
completed drill holes intersected the down‐dip extension of the mineralized structure hosting the Sunbeam Mine
u p t o 3 0 m b e l o w t h e m a x i m u m d e p t h a t t a i n e d i n t h e o l d m i n e w o r kings. Due to technical issues it was not
possible to test the interpreted trend of the mineralization occurring in the mine. DDH NS‐20‐01 intersected
3.75m (between 73.25m and 77.0m core‐length, estimated at 3.5m true‐width) of consistently anomalous gold
mineralization, peaking at 1.1 g/t Au (between 74,65‐75.07m core ‐ l e n g t h , e s t i m a t e d a t 0 . 3 9 m t r u e w i d t h ) i n
sulphide bearing quartz veins in altered chlorite schist and tronjhemite host rock. DDH NS‐20‐02 intersected
6.08m (between 80.12m and 86.2m core‐length, estimated at 5.1m true‐width) of deformed and altered rock
hosting quartz‐veining and returned anomalous gold mineralizati on, peaking at 218 ppb Au (see tabulated
analytical results below).
Previous work conducted by Nuinsco identified gold mineralizati on in mine waste dumps and vein material that
suggests high‐grade gold mineralization is present at the Sunbe am mine site. Grab samples collected by Nuinsco
from waste‐rock at the mine have returned assays as high as 122 g/t gold (refer to the Nuinsco news release
dated 21 March 2019, grab samples are selected samples and are not representative of the mineralization hosted
on the property); these findings concur with grades reported historic records and sampling results by previous
workers.
T h e S u n b e a m M i n e i s l o c a t e d o n a n o r t h e a s t ‐ t r e n d i n g , m i n e r a l i z ed lineament that traverses the property for
5 . 4 k m . H o s t m i n e r a l i z a t i o n a t t h e S u n b e a m M i n e i s a n o r t h e a s t striking, chloritized sheared zone of altered,
schistose rock within which sulphide and gold bearing quartz ve ins occur. Historically a t the Sunbeam Mine, pits
and shafts were excavated to trace the quartz veining and schist along strike in excess of 300m.
As well as the Sunbeam mine, the 101 mining claims of the Property optioned by Nuinsco in 2017 encompass
numerous other sites of gold mineralization including the historic Roy and Pettigrew deposits and a number of
other gold showings located on the northeast‐striking, gold‐mineralized trends that traverse the Property.
The Sunbeam Gold Property is located in northwestern Ontario 27km northeast of the town of Atikokan and
12km southeast of Agnico Eagle’s Hammond Reef gold deposit. It is accessible via well‐maintained logging roads
from Hwy 11.
QP
P.L. Jones, P. Geo., is a qualified person as defined by NI 43‐101 and has reviewed and approved the technical
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contents of this press release regarding the Property.
QA/QC
Sample Analyses: all drill core was sawn and half or the core w as submitted as samples for analysis to Activation
Laboratories Ltd. through their Thunder Bay facility using the 1 A ‐ 2 a n a l y t i c a l m e t h o d o f f i r e a s s a y – a t o m i c
absorption with detection limits of between 5ppb and 5000ppb. Given the number of samples the laboratory QC
methods were relied upon – this comprised insertion of four ana lytical standards, two analytical blanks and two
sample duplicates.
chl = chlorite, hem = hematite. py = pyrite, po = pyrrhotite, cp = chalcopyrite, QV = quartz vein,
bx = breccia, fz = fault zone, alt’d = altered, trondhj = trondhjemite, diss = disseminated
About Nuinsco Resources Limited
Nuinsco Resources has over 45 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 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 has completed an agreement to exploit the El Sid project in southeastern Egypt – this project
DDH Sample
number
From
(m)
To
(m)
Length
(m)
Au
(ppb)
FA‐AA
Description
NS‐20‐01 81751 27.58 27.93 0.35 < 5 QV / intrusion, py‐chl on fractures
NS‐20‐01 81752 43.3 43.61 0.31 < 5 QV, sulphide at lower contact
NS‐20‐01 81753 73.25 74.09 0.84 184 Trondhj, hem alt'd, fine diss sulphide in
sericitic masses near lower contact w/ QV
NS‐20‐01 81754 74.09 74.65 0.56 82 Milky white to pale pink (hem alt'd) QV,
hem fractures
NS‐20‐01 81755 74.65 75.07 0.42 1100 Trondhj, pale pink & green alt'd, 2‐3% fine
diss to fine blebs py
NS‐20‐01 81756 75.07 75.95 0.88 16
Def zone, sharp UCT, chl schist, boudinaged
QV, 5cm clay altered zone, slickensided
fractures (chl)
NS‐20‐01 81757 75.95 76.5 0.55 588 Def zone, chl schist, boudinaged QV
NS‐20‐01 81758 76.5 77 0.5 44 QV, hem alt'd, chl‐clay‐hem filled fractures
1‐2cm wide, 5cm+ loss
NS‐20‐01 81759 77 77.25 0.25 < 5 Rubble, chl schist & hem alt'd QV
NS‐20‐01 81760 77.25 78 0.75 31 Hem alt'd trondhj, sulphide blebs at end
NS‐20‐01 81761 78 78.96 0.96 40 Hem alt'd trondhj, sulphide blebs noted
NS‐20‐02 81762 65.8 66.45 0.65 < 5 Trondhj w/ multiple QVs, py+/‐po
NS‐20‐02 81763 80.12 81 0.88 119 Trondhj, hem alt'd
NS‐20‐02 81764 81 81.3 0.3 173 Low angle QV, sulphide along fine fracture
NS‐20‐02 81765 81.3 81.85 0.55 5 Mixed QV, chl‐sericite schist
NS‐20‐02 81766 81.85 82.75 0.9 < 5 Chl‐schist w/ 1cm thick QVs, 5cm Bx/Fz
NS‐20‐02 81767 82.75 84 1.25 < 5 Chl schist
NS‐20‐02 81768 84 85.15 1.15 6 Chl schist
NS‐20‐02 81769 85.15 85.35 0.2 7 QV + chl‐hem schistose wall rock at ends
NS‐20‐02 81770 85.35 86.2 0.85 218 Trondhj, fg, hem alt'd, 1‐3% sulphide (py)
blebs
NS‐20‐02 81771 90.07 90.3 0.23 < 5 QV ~10cm w/ coarse blebs py+/‐po+/‐cp
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requires little capital and can provide near‐term revenue to the C o m p a n y ; t h e C o m p a n y i s i n t h e p r o c e s s o f
sourcing funding to commence the process of building a plant on‐site.
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 sta t e m e n t s a r e s u b j e c t t o a
number of risks and uncertainties that may cause the actual res ults of Nuinsco to differ materially from those discussed in th e forward‐looking statements,
and even if such actual results are realized or substantially r ealized, there can be no assurance that they will have the expe cted consequences to, or effects on
Nuinsco. Factors that could cause actual results or events to d iffer materially from current expectations include, among other things, failure to successfully
complete financings, capital and other costs varying significan tly from estimates, production ra tes varying from estimates, ch anges in world copper and/or
gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the futur e, equipment failure, unexpected
geological conditions, imprecision in resource estimates, succe ss of future development initiatives, competition, operating pe rformance of facilities,
environmental and safety risks, delays in obtaining or failure to obtain tenure to properties and/or necessary permits and app rovals, 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 requir ed by applicable securities
laws, Nuinsco disclaims any intent or obligation to update any forward‐looking statement, whether as a result of new informati on, future events or results or
otherwise. Although Nuinsco believes that the assumptions inher ent in the forward‐looking statements are reasonable, forward‐l ooking 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 contact:
Paul Jones, CEO Sean Stokes, Executive VP Cathy Hume, Consultant Website:
www.nuinsco.ca
[email protected] [email protected] [email protected] Twitter:
@NWIResources
416 868‐1079 x 231