World Mining Exploration News

Nuinsco Resources Limited: Diamond Drilling to Commence Immediately at Prairie Lake Project

Nuinsco Resources Limited (”Nuinsco”) (CA:NWI: news, chart, profile) ( www.nuinsco.ca) announced today that diamond drilling will commence immediately at its 100% owned Prairie Lake Project in northwestern Ontario. A diamond drill has been mobilized to the property to commence approximately 2,500 metres of drilling to follow up on positive results identifying a suite of minerals of economic significance.
“In addition to the historic uranium resource, past exploration has identified niobium (Nb), tantalum (Ta), phosphorous (P) and rare earth elements (REE) including lanthanum (La), cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y). Limited supply and escalating demand have dramatically raised the prices of many of these commodities, including tantalum and phosphorous, making Prairie Lake a valuable asset given current and projected future demand increases in the agricultural, high-tech, industrial and nuclear energy markets for these minerals,” said Paul Jones, President.
Diamond drilling conducted in 2007 returned a number of very significant assay intersections including:
- Hole NP-07-01 - 13.5 metres (58.6-72.1metres) of 0.125% U3O8 with 0.249% Nb2O5, 9.03% P2O5, 109 ppm Ta2O5 and 3,103ppm REE.
- Hole NP-07-10 - 4.58 metres (17.22-21.8 metres) of 0.709% Nb2O5 with 0.010% U3O8, 5.76% P2O5 and 47ppm Ta2O5.
- Hole NP-07-11 - 6.35 metres (21.85-28.2 metres) of 408 ppm Ta2O5 with 0.364% Nb2O5, 0.046% U3O8 and 4.21% P2O5, and 98.3 metres (2.7-101 metres) of 1,376 ppm REE.
- Hole NP-07-09 - 44.3 metres (13.2-57.5 metres) of 2,355 ppm REE.
Drill holes in this 2008 program will be collared around the Prairie Lake carbonatite intrusion but will be concentrated in the southwest quadrant which the 2007 work program identified as being the domain with the most consistently elevated, anomalous, geochemistry. Drill holes will vary from about 125 metres to 550 metres in length and are planned to better determine distribution of mineralization in the subsurface and to better characterize the nature of the shape and contacts of the Prairie Lake Intrusion. The diamond drilling follows the collection of large (approximately 50 kilogram) samples earlier in the summer for processing using dense media separation (DMS) to determine what level of beneficiation may be accomplished - results are pending.