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Building …on a Proven Track Record
2
NWI
:TSX
Nuinsco Resources Limited
at a
Building …on a Proven Track Record
2012 Objectives
•
Implement drill program at Berta in Turkey.
•
Continue exploration at the Diabase Peninsula
uranium project.
•
Continue process testing at the Prairie Lake project
and evaluate production of marketable concentrates.
•
Continue to evaluate new project opportunities
in Canada and elsewhere.
•
Advance CBay projects by creating a publicly-traded
company.
Strategic Investments
Nuinsco maintains equity investments that can be monetized
to generate cash that finances operations and exploration.
Currently those holdings are in:
Company
Percentage Equity Ownership
CBay Minerals (Private):
50%
Coventry Resources (ASX: CVY):
4%
Victory Nickel (TSX: Ni):
2%
Significant Events
2011-2012
Corporate
•
Appointed Dr. J.M. Franklin as an independent Director.
•
Appointed Roland Horst as CEO of CBay to lead the
revitalization of the Chibougamau mining assets.
•
Placed the NuMENA Minerals Corp. (“NuMENA”) spinoff
initiative on hold in the Middle East North Africa (“MENA”)
region.
•
Advised the Egyptian Mineral Resources Authority that
the Company would not continue to pursue tenure of
two gold concessions in Egypt.
•
Elected not to exercise option on J. Tobrar gold concession
in north-eastern Sudan.
Copper/Gold
•
Received a favourable decision from the Québec Superior
Court allowing 50:50 joint ownership, between the
Company and Ocean Partners, of an impressive suite of
exploration, mining, processing and other assets in Québec’s
Chibougamau mining camp.
•
Completed the documentation transferring ownership of
the Chibougamau assets to CBay Minerals Inc., a company
jointly-owned by Nuinsco and Ocean Partners.
•
Announced 2012 drill program at Berta in Turkey with joint
venture partner Xstrata Copper Canada (“Xstrata”).
•
Elected to surrender interest in the Elmalaan copper/zinc
project in Turkey.
Uranium, Phosphorus and Rare Metals
•
Announced trenching results from Prairie Lake grading up to
6.14% phosphorous, 1.08% combined rare earth elements,
0.27% niobium and 13 parts per million (“ppm”) tantalum.
•
Announced results from the 4,000m diamond drilling
program at Prairie Lake: grades up to 0.957% niobium
(Nb
2
O
5
) and 8.68% phosphorus (P
2
O
5
) as part of a 246m
interval grading 0.118% Nb
2
O
5
and 3.41% P
2
O
5
.
•
Updated the Exploration Target Mineralization Inventory
(“ETMI”) at Prairie Lake, making it one of the ten largest
carbonatite-hosted niobium deposits in the world, and the
second largest in North America at 515-630 million tonnes.
•
Advanced the metallurgical study of Prairie Lake
mineralization which now indicates the ability to produce
a marketable phosphate concentrate.
•
Repurchased the 2% royalty interest on Prairie Lake for
$300,000 in Nuinsco shares; the property is now royalty-free.
•
Completed, in 2011, 2,000m of diamond drilling at the
Diabase Peninsula property, with results grading up to
92ppm uranium, indicating the potential for a lens of uranium
mineralization in the immediate vicinity of the drilling.
•
Completed, in 2012, an additional drilling program at
Diabase Peninsula to follow up on the strong uranium
anomalies and deposit indicators from past work.
•
Diluted joint venture partner Trend Mining Company of
Denver to a royalty interest in Diabase Peninsula with
the 2012 drill program.