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Annual Report Edition, May 2012
7
NWI
Did You Know
Did you know
that one ton of natural
uranium can produce more than 40 million
kilowatt-hours of electricity? This is
equivalent to burning 16,000 tons of coal
or 80,000 barrels of oil?
Did you know
that the price of uranium
was approximately US$10.75 per pound in
early 2003. By mid-2006, the price had risen
to approximately US$45.00 per pound. In
early 2007 the price approached US$100.00
per pound. As of 2012, the price is US$52
per pound.
•
Uranium
•
La Ronge, Saskatchewan
- Nuinsco is known for its systematic exploration focus that
utilizes the most effective and cost-effective tools available to achieve its exploration goals.
Among those tools that have been used to evaluate the Diabase Peninsula uranium project
are a property-wide deep-penetrating MegaTEM survey, ground geophysical TEM surveys
over two priority target areas and reconnaissance and detailed gravity survey profiling. With
all of this essential work done, the focus in 2012 and going forward is on drilling.
“We have all the signs,” said Paul Jones, President of Nuinsco. “Our objective now is to drill to find
the uranium deposit.”
And drill is exactly what Nuinsco did earlier in 2012 with a program that began in March to follow up
on previous work that identified all the elements indicative of a uranium mineralizing event.
Prior to the start of this year’s program, Nuinsco had drilled 38 holes on the project, totaling 15,787m.
Of these, a remarkable 13 holes have returned samples with very substantial uranium content exceeding
50ppm (>10ppm uranium in sandstone is evidence of a mineralized system and proximity to concentrations
of high-grade mineralization). In total 26 drill holes (68% of all holes drilled) have returned values greater than
10ppm uranium - serving to further reinforce and highlight the outstanding scale of anomalous mineralization
at Diabase.
“Past drilling has encountered up to 707 ppm uranium and uranium values exceeding 10 ppm are
considered significant in the Athabasca basin,” said Mr. Jones. “Such a high proportion of drill holes
intersecting strongly anomalous uranium mineralization suggests that the potential for a deposit in the
immediate vicinity is a distinct possibility.”
The 21,959 hectare Diabase Peninsula project is located in the south-central part of Saskatchewan’s
Athabasca Basin, home to the highest grade uranium deposits in the world. A combination of uranium-
arsenic-nickel-cobalt-magnesium oxide is typical of the mines in the Athabasca Basin. The widespread
presence this combination of elements in the holes drilled by Nuinsco indicates the influence of a
mineralizing system in the area.
Diabase Peninsula
Nuinsco Focuses on Diamond Drilling at Diabase Peninsula Uranium Project
A remarkable 68% of holes drilled have returned values greater than 10ppm uranium
NWI
Location
Athabasca Basin,
Saskatchewan, Canada
Ownership
100%
Commodity
Uranium
Project Status
Exploration
World Nuclear Power Reactors & Uranium Requirements
Nuclear Electricity
Generation 2011
billion kWh
2518
c13.5 433 371,422
160
179,655
329
376,255
67,990
63
62,174
MWe net
% e
No.
MWe gross
No.
MWe gross
No.
MWe gross
tonnes U
No.
Reactors Operable
May 2012
Reactors Under
Construction May 2012
Reactors Planned
May 2012
Reactors Proposed
May 2012
Uranium
Required 2012
Sources:
Reactor data: WNA to 1/5/12 (excluding 8 shut-down German units)
IAEA- for nuclear electricity production & percentage of electricity (% e) 13/4/12.
WNA: Global Nuclear Fuel Market report Sept 2011 (reference scenario) - for U.
Operable = Connected to the grid;
Under Construction = first concrete for reactor poured, or major refurbishment under way;
Planned = Approvals, funding or major commitment in place, mostly expected in operation within 8-10 years;
Proposed = Specific program or site proposals, expected operation mostly within 15 years.
New plants coming on line are largely balanced by old plants being retired. Over 1996-2009, 43 reactors were retired as 49
started operation. There are no firm projections for retirements over the period covered by this Table, but WNA estimates that
at least 60 of those now operating will close by 2030, most being small plants. The 2011 WNA Market Report reference case
has 156 reactors closing by 2030, and 298 new ones coming on line.
TWh = Terawatt-hours (billion kilowatt-hours), MWe = Megawatt (electrical as distinct from thermal), kWh = kilowatt-hour.
•
Copper/Gold
•
Two diamond drills will be used to conduct the drill program which will comprise up to nine holes ranging
from 800m to 1,000m in length focused on high-priority copper in soil anomalies overlying the central part
of the Berta porphyry system. This program will expand drill coverage on the project to areas not previously
drilled. Drilling was expected to begin by early June. Previous drill results demonstrate the extensive nature
of anomalous copper mineralization in the rocks at Berta, highlighted by the results of DDH SD-07-08 which
intersected 710.9m grading 0.28% copper and 0.07g/t gold between 3.80m and 714.7m (see press release
dated Apr. 25, 2007) and DDH SD-08-10 which returned 164.0m grading 0.20% copper and 0.06g/t gold between 250.5m and 414.5m (see press release dated
Oct. 20, 2008).
“Berta is a very exciting project with exceptional exploration potential from which we’ve seen outstanding results,” said Paul Jones, President. “We’re very
pleased that Xstrata is committing to test the bedrock geology underlying the strongest domain of copper enrichment in soils identified in what is reputed to be
the largest copper anomaly in the Turkish Pontides.”
The Berta Property is located approximately 50 kilometres south of the Black Sea in northeastern Turkey, within the prolifically mineralized Tethyan-Eurasian
Metalogenic Belt which hosts numerous ore deposits in several countries including Iran’s Sarcheshmeh Mine, one of the world’s largest copper mines at 1.2 billion
tonnes grading about 1% copper.
Turkey - Berta
Nuinsco Announces 2012 Drill Program at Berta Project in Turkey
Emphasis to be placed on strongest anomalies identified at centre of Berta porphyry
Istanbul, Turkey
- Nuinsco has long seen the potential of Turkey as a mining destination,
and of its Berta copper project which is a joint venture with Xstrata Copper Canada (“Xstra-
ta”). Turkey continues to enhance its popularity around the world as explorers and miners
meet with success there, and Nuinsco is hoping a 7,500 metre drill program will go a long
way to raise Berta’s profile as a premier property in this booming region.
NWI
Location
Northeastern Turkey
Ownership
NWI/Xstrata Copper JV
Commodity
Porphyry Copper/Gold/Moly
Project Status
Exploration
Gold Soil Analysis
Drill Holes at Diabase