NWI.CN · 2019-06-10 12:00:00

Nuinsco Reports up to 15 Metre Widths of High-Grade REEs at Prairie Lake

Corporate Updates

Nuinsco Reports up to 15 Metre Widths of High‐Grade REEs at Prairie Lake

Toronto, June 10, 2019 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE: N W I ) r e p o r t s t h e

identification of up to 15 metre widths in drill core of high‐g rade rare earth element (REE) domains in iron‐rich

carbonatite rock (ferrocarbonatite) at its 100%‐owned Prairie Lake project near Terrace Bay, Ontario.

“Carbonatites contain the highest REE content of any igneous ro ck making them attractive exploration targets for

REE mineralization, and ferrocarbonatites are usually particul arly enriched with respect to REEs,” said Paul Jones,

CEO of Nuinsco. “These domains are assumed to be late stage int rusions into the Prairie Lake carbonatite

complex, and their presence is an indicator that other, similar intrusions are possible. As previously reported the

Prairie Lake complex has unusually high concentrations of REEs in apatite, in particular neodymium oxide (Nd 2O3)

(see news release of June 6, 2019); the REE content with high proportional Nd2O3 content in association with

other mineral commodities of economic interest in the Exploratio n T a r g e t ( “ E T ” ) m a k e s i t v e r y a t t r a c t i v e f o r

further investigation.”

Holes NP 1006 and 1007 were drilled in the southwest part of th e Prairie Lake complex, an area dominated by

carbonatite mineralization. Assays were as follows:

DDH From To Width

g/t

∑REE

g/t

P2O5

Nb2O5

g/t

NP1006 160.92 175.85 14.93 525 1,338 2,913 1,506 406 6,687 5.65 0.016 0.55

NP1007 427.16 429.06 1.9 82 1,786 3,965 2,340 541 8,715 0.078 0.040 0. 23

Y – yttrium, La – lanthanum, Ce – cerium, Nd – neodymium, Sm – samarium, P2O5 ‐ phosphate, Nb2O5 ‐ niobium, Ta – tantalum

1g/t = 1 ppm

Drill holes NP 1006 and 1007 contain the mineral ancylite, a st rontium‐rich REE‐carbonate with high

concentrations (typically >50wt%) of rare earth oxides. Accompanying the ancylite mineralization is burbankite

(another REE‐carbonate mineral), and strontianite (SrCO3).

The Prairie Lake project consists of nine mineral claims covering an area of 608 ha. Logistically Prairie Lake is

superbly located, with ready access to power, road, rail and sh ipping infrastructure; it is easily accessed by an all‐

weather road from the TransCanada Highway 28 kilometres to the south. The mineralization identified is entirely

contained within the Prairie Lake carbonatite complex, presentl y an ET of 515‐630 million tonnes defined by 46

diamond drill holes with grades as tabulated below.

Prairie Lake ET1:

Main/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

1 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 of a mineral resource. There is no National Inst rument 43‐101 –

Standards of Disclosure for Mineral Projects preliminary economic assessment in respect of the Prairie Lake ET.

Qualified Person

P.L. Jones, P. Geol., is a qualified person as defined by NI 43 ‐101 and has reviewed and approved the technical

contents of this press release regarding the Prairie Lake project.

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 recently completed an agreement for gold exploitation at the El Sid project in the Eastern

Desert of Egypt – a project with the potential to provide near‐term revenue.

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 significantly from estimates, production rates varying from estimates, changes in world commodities

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, 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

416 626‐0470 x 229 416 626‐0470 x 224 416 868‐1079 x 231

← Back to feed