NUINSCONEWS
TSX
NWI
Vol. IV, No. I
Annual Report Edition, May 2013
www.NUINSCO.ca
TSX
NWI
CBay Bulks Up in
Chibougamau with
Advanced Project
Acquisitions
Perch River, Devlin provide potential additional
feed sources for Copper Rand mill
Better Days
Ahead
To Our Shareholders
The last time I wrote to you I was outlining
the impact of the revolutions in the Middle
East North Africa (“MENA”) region on our
exploration activities and the value of
our assets and the related share price.
Unfortunately, the geopolitical problems of the
MENA region have not resolved themselves
sufficiently to entice us back to the area
despite the excellent potential for discovery.
Not to worry. The resource sector has
its own issues to deal with – the investor
revolution. A revolution of investors who have
become caught up in the uncertainties and
negative market sentiment that faces us
globally. I have read that, for the first time
in history, gold companies are trading at
lower multiples than base metal companies,
which in turn are trading at historically low
valuations. To be honest, I haven’t done my
own review but I am inclined to believe it.
Nothing surprises me these days.
Why is this? Is gold no longer considered
a safe investment? Is gold no longer a hedge
against inflation? Does gold no longer reflect
the political mood? Is it no longer considered
currency or at least a supporter of currency?
You would never know it by looking at the
price, which remains not far off its all-time
highs.
continued on page 8
PLEASE SEE
LETTER TO SHAREHOLDERS
Chibougamau, Quebec
-
Already one of the largest landowners in Quebec’s
prolific Chibougamau mining camp, CBay Minerals Inc. (“CBay”), owned
on a 50:50 basis by Nuinsco and Ocean Partners Investments Limited
(“
Ocean Partners”), has bulked up by adding two potential near-term-
producing copper properties – Perch River and Devlin.
CEO
N W I
Perch River
Perch River is a shallow, flat-lying copper deposit
accessible by a previously-developed ramp and
workings located about 80 kilometres by road
northeast of CBay’s permitted Copper Rand mill.
The mineralized zone, estimated to contain over
1
million tons grading over 1% copper (historic
results reported by A.J.R. Consulting in March
2007)*,
appears similar to the Icon-Sullivan Mine
situated 15 kilometres to the southwest which
produced 2.1 million tons grading 1.96% copper.
In 1973, an exploration ramp was developed to
sample 12,150 tons of material from Perch River
which was processed at a mill in Chibougamau.
CBay has an option to acquire 100% of Perch
River for a total price of $200,000 payable over
four years. The vendors will retain a 2% NSR.
www.nuinsco.ca
Contents
CBay Bulks Up at Chibougamau
(
Canada)
COPPER/GOLD
1
Letter to Shareholders
1
Nuinsco at a Glance
2
CBay Assets
(
Canada)
COPPER/GOLD
4
In Conversation With…David Mchaina
5
Prairie Lake Project
(
Canada)
PHOSPHORUS/RARE METALS
6
Diabase Peninsula
(
Canada)
URANIUM
7
Berta
(
Turkey)
COPPER/GOLD
7
Corporate Information
8
Devlin
Devlin is a high-grade copper deposit, located
about 10 kilometres west of CBay’s 100%-owned,
partially-developed Corner Bay copper project.
Mineralization was previously accessed by a 350
metre decline and over 600 metres of exploration
drifts. In 1982, a bulk sample of 18,000 tons
grading 3.72% copper was processed at a mill
in Chibougamau with recoveries reported in the
mid-90% range (historic results reported by Watts
Griffiths and McOuat Limited (“WGM”) in 1995)*.
WGM also estimated Devlin to contain proven
and probable reserves of 161,000 tons at 3.38%
copper, measured and indicated resources of
continued on page 4
Please see
CBay Bulks Up
•
Letter to Shareholders
•
•
Copper/Gold
•
CBay
Corner Bay