Nuinsco Teams with McGill University Researchers to Evaluate Potential Economic Significance of Niobium Mineralization at Prairie Lake
Nuinsco Teams with McGill University Researchers to Evaluate Potential Economic
Significance of Niobium Mineralization at Prairie Lake
Highlights:
• Extensive domains of strong niobium (“Nb2O5“) mineralization exposed at surface.
• Closely associated with phosphate and rare earth element (REE) mineralization.
• The domains are tens to hundreds of metres wide with grades up to 0.198% Nb2O5.
• Such extensive mineralization has implications for the economics of project development.
Toronto, November 13, 2024 – Nuinsco Resources Limited (“ Nuinsco” or the “Company”) (CSE: NWI , FRA: NJX ) today
announced that ongoing study of the niobium mineralization in collaboration with McGill University researchers led by
Professor Anthony Williams-Jones has confirmed the economic potential of Nb2O5 as a significant co-product at the Prairie
Lake Critical Minerals Project (“Prairie Lake” or the “Project”).
Nuinsco’s exploration at Prairie Lake has identified widespread niobium endowment, both at surface and underground in
drill holes, of sufficiently high grade to warrant its economic evaluation as a co-product. A re-evaluation of the geology of
the Prairie Lake Complex by Professor Williams-Jones and his team is documenting the occurrence of large volumes of
previously unrecognized biotite-rich rocks (pyroxenitic glimmerite), which they have shown controlled the occurrence of
the niobium ore mineral, pyrochl ore, at St Honoré (Québec), one of only three operating niobium mines in the World;
glimmerite is also a major rock unit at the Araxá and Catalão mines (Brazil) which produce over 90% of the World’s
niobium.
“The trenching and drilling at the Project contemplated for delineating the predicted pyroxenitic glimmerite- pyrochlore
association, could potentially lead to the Prairie Lake Complex becoming Canada’s economically most important REE -
Niobium deposit after St Honoré and the first major producer of phosphate in the country, rivalling the giant Kovdor and
Phalaborwa phosphate deposits in Russia and South Africa, respectively,” said Professor Williams-Jones.
“The ongoing evaluation of Prairie Lake continues to provide increasing indications of economic potential. It is a source
of a suite of vitally important Critical Minerals located in the heart of North America capable of providing a secure supply
chain to these minerals. In addition to the enormous significance of the phosphate and rare earth mineralization, niobium
is a component of such importance to a myriad of applications in today’s high-tech economy that it cannot be ignored
when evaluating the economic potential of the project.” said Paul Jones, Nuinsco’s CEO.
Extensive trenching conducted by the Company has identified domains of surface niobium mineralization across the
exposed Prairie Lake Complex rocks. In the little explored northeast quadrant of the complex niobium mineralized domains
occur in adjacent trenches 200m apart (the Grouse Trench and Raspberry Hill Trench), that are up to tens to hundreds of
metres thick and grade up to 0.198% Nb2O5 (see table below). Such mineralization, occurring at surface as it does, can be
exploited using low -cost methods and has great economic significance as a potential co -product to the phosphate -REE
mineralization that also occurs throughout the Complex and has been extensively reported on by the Company. By
incorporating multiple commodities into the project’s resource modelling, the Company expects to substantially improve
the outlook for eventual development.
TRENCH From
(m)
To
(m)
Interval
(m) P2O5 (5) Nb2O5
(%)
Ta2O5
(ppm)
U3O8
(ppm) REE (ppm)
GROUSE 0.1 19.5 19.4 3.883 0.146 8.2 19.3 2072.4
24.9 80.5 55.6 3.166 0.156 9.1 29.4 1963.5
82.8 83.85 1.05 4.130 0.058 2.0 49.6 4930.0
84.6 103 18.4 2.590 0.071 6.0 25.4 2919.8
2
includes 86 89 3 6.140 0.028 1.8 49.4 10820.5
105.5 145 39.5 3.425 0.198 12.8 34.8 2404.2
166.2 181.5 15.3 2.417 0.100 6.1 22.6 1510.3
183.5 188 4.5 1.770 0.059 8.8 6.1 852.1
191.5 308.2 116.7 3.154 0.100 3.5 48.9 2389.4
308.2 408 99.8 Sampling gap, cedar swamp
408 417 9 3.172 0.071 9.3 28.4 1450.0
426 498 72 3.608 0.092 8.6 78.0 1818.4
498 613 115 Sampling gap, swamp, steep hill and glacial sand deposit
613 679 66 3.357 0.105 6.1 46.6 1331.6
679 685 6 Metasediments
DRAGONFLY
0 96 96 5.040 0.067 14.5 44.2 1711.2
96 102 6 Sampling gap, clay & pebble deposits
102 107.2 5.2 3.515 0.129 10.8 33.0 1662.3
111 136.5 25.5 2.552 0.144 7.2 50.4 1225.6
138 175.5 37.5 3.454 0.117 7.6 65.6 1234.7
175.5 240 64.5 Sampling gap, ravine
240 286.5 46.5 3.028 0.157 23.7 56.4 1761.9
286.5 320 33.5 Sampling gap, trail & steep hill
320 392 72 3.032 0.083 14.3 41.3 2067.5
392 402 10 Sampling gap, mud & clay deposits
402 414 12 1.745 0.079 4.2 13.2 713.2
416 466.5 50.5 2.020 0.104 8.6 14.1 832.9
472.5 505 32.5 2.514 0.076 16.7 19.1 1126.6
RASPBERRY HILL
0 21 21 2.428 0.166 6.6 20.4 1452.5
21 38 17 Sampling gap, clay & pebble deposits
38 48 10 2.710 0.268 8.7 22.0 1938.9
48 52.5 4.5 Sampling gap, clay & pebble deposits
52.5 63.3 10.8 3.103 0.146 3.9 16.5 1917.3
64.5 90.75 26.25 2.402 0.103 8.2 14.7 1877.7
90.75 93.5 2.75 Sampling gap, clay deposit
93.5 343.5 250 3.087 0.117 6.8 33.8 1806.7
TRAILSIDE 0 71.5 71.5 1.768 0.049 12.9 23.5 879.0
WOLLASTONITE
0 169.5 169.5 4.352 0.082 9.6 28.9 1568.8
169.5 250.0 80.5 Sampling gap, swamp
250 313.0 63.0 2.794 0.044 13.0 26.1 1171.4
313 319.0 6.0
Sampling gap,
trailway
319 332.5 13.5 2.888 0.044 11.5 23.7 1240.2
332.5 344.5 12.0 Sampling gap, clay deposit
344.5 407.5 63.0 3.135 0.032 8.8 19.9 1289.2
410.5 463.0 52.5 1.673 0.062 12.4 29.9 998.4
All samples were analysed by Activation Laboratories. Activation Laboratories is accredited under the Canadian Association For Laboratory Accreditation (CALA), ISO
9001:2015 and ISO 17025:2017. Samples were analysed for a whole rock and trace element ICP analytical package. An internal program of QA/QC was followed
including the inclusion of blank material and standard reference materials into the sampling sequence.
Niobium is a vital alloying agent in steel production. The biggest application of this element is in the production of
structural steel and the automotive and aerospace industries. Other applications affecting niobium demand include the
niobium-bearing magnets that will be employed in very high-speed mag-lev trains, currently beginning to enter service; a
potential replacement for air travel with substantial CO 2 reduction benefits. Current global demand of 107 kilotons per
annum is expected to grow at a rate of 10% per annum to 2030 when the market is estimated to be US$3B. The Prairie
Lake project hosts a significant endowment of niobium (and phosphate and rar e earth elements) in a logistically ideal
location in central North America.
Prairie Lake is a major Critical Minerals asset located close to the major urban cen tres of North America. It hosts a very
substantial Mineral R esource of phosphate mineralization , has amongst the world’s highest known light rare earth
element content in apatite and contains a host of other REE bearing minerals, as well as the niobium mineral, pyrochlore.
Metallurgical studies demonstrate that a clean phosphate concentrate, grading 26% P 2O5 at 76% process recovery with
ample room for improvement, and with valuable rare earth element co -concentrate, can be reliably produced from the
Prairie Lake feed.
3
The elements found at Prairie Lake are essential for applications in transportation, power distribution and storage, green
technologies and agriculture, to name a few . The Project is of immense value to a secure Critical Minerals supply chain,
and presents substantial logistical benefits, including easy access to:
• The Towns of Marathon, Terrace Bay, and other affected communities - all able to supply a local, skilled
workforce.
• An all-weather forest access road crossing the project and deposit.
• Paved Highways 17 and 11 to the south and north.
• Canadian Pacific Railway and Canadian National Railway networks.
• A high capacity (230kV) electrical power transmission line.
• The Marathon deep water port project (50 km away). Deep-water ports able to handle ocean-going ships
are also located at Thunder Bay and Sault Ste. Marie.
• The Marathon airport.
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 content 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 explora-
tion and development company focused on prospective oppor tunities in Canada and internationally. Currently the
Company has the large multi- commodity (phosphate, rare earth element, niobium, tantalum) Prairie Lake Project near
Marathon-Terrace Bay, the Zig Zag Lake P roperty (lithium, tantalum) near Armstrong optioned to First Class Metals PLC
and retains a NSR royalty on the Sunbeam Gold Property near Atikokan.
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 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-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 Mineral R esource E stimates, 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.
Paul Jones,
CEO
Sean Stokes,
Executive VP
Cathy Hume,
Consultant
@nuinscoresources
613-867-5902 416-712-7481 416-868-1079
877-838-1079
paul.jones@
nuinsco.ca
sean.stokes@
nuinsco.ca
@NWIResources