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NWI
:TSX
Nuinsco Resources Limited
Building …on a Proven Track Record
“The ETMI released in January 2010 demonstrates the huge scale and
potential economic significance of this multi-commodity deposit, however with
only 12% of the total surface area of the Prairie Lake complex included in the
ETMI we have barely scratched the surface,” said President Paul Jones.
Setting it apart from other exploration projects that tout their potential
for REE mineralization, Nuinsco’s 100%-owned Prairie Lake project is easily
accessible by road, potentially exploitable by open pit or quarry methods
and close to existing rail and shipping infrastructure, and the TransCanada
Highway. Located about 45 km northwest of Marathon, Ontario, it covers the
entire 2.8 km
2
Prairie Lake Carbonatite Complex at surface.
The National Instrument 43-101 compliant ETMI sets the target estimate for
the two areas drill-tested to date, the SW Zone and Jim’s Showing, at between
330 and 360 million tonnes averaging 3.5% to 3.7% P
2
O
5
(phosphorous oxide)
and 0.12% to 0.14% Nb
2
O
5
(niobium oxide, 1.2 to 1.4 kg/tonne). As well as
phosphorous and niobium, the suite of minerals of economic significance
includes tantalum (Ta), uranium (U) and REEs (including lanthanum (La),
cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y)).
In addition, COREM, a research laboratory in Quebec City, has completed
testing, using flotation, dense media and magnetic separation methods, which
demonstrates that it is possible to produce a concentrate containing a suite
of REEs and grading up to 23.4% P
2
O
5
, which is used in high-value fertilizers.
The concentrate also contains 0.17% (1.7kg/tonne) Nb
2
O
5
, a high-value mineral
used in steel alloys, superconducting magnets and the aerospace industry.
continued on page 8
PLEASE SEE
GAINING MOMENTUM
Drilling at Diabase
NWI
Location
Athabasca Basin,
Saskatchewan, Canada
Ownership
89%
Commodity
Uranium
Project Status
Exploration
•
Rare Metals
•
Prairie Lake
Gaining Momentum as Drilling and Trenching Add
to Economic Potential of Rare Metals Project
Marathon, Ontario, Canada
- Rare metals have attracted a lot of
attention from the investing public lately. With a 330-360 million
tonne mineralized domain outlined in an Exploration Target
Mineralization Inventory (ETMI
1
) containing the rare metals niobium
and tantalum, as well as rare earth elements (REE) and other minerals,
Nuinsco is very excited about the potential of its Prairie Lake project.
1
The potential quantity and grade of the ETMI is conceptual in nature and there has been insufficient exploration
to define a mineral resource. It is uncertain if further exploration will result in the discovery of a mineral resource.
Prairie Lake Property - aerial schematic
•
Uranium
•
Exploration on the 21,900 hectare Diabase Peninsula Project, located
approximately five kilometres north of the southern boundary of the Athabasca
Basin, has included diamond drilling, airborne and ground geophysical surveys,
geochemical surveys and mapping.
“The drilling we’ve done to date has identified all of the right indicators
– highly-anomalous uranium, deformed graphite and sulphide-bearing
basement rocks, graphite, arsenic, cobalt, nickel, boron and clay mineralization
– all found in conjunction with uranium deposits in the Athabasca basin,” said
Paul Jones, President. “These results, along with geophysics that shows
characteristics similar to deposits such as Key Lake, Rabbit Lake, Midwest
Lake and Sue, have led the Diabase Peninsula project to be independently
ranked as a premiere exploration project in the region.”
Building on this work is a 2,321 metre drill program completed in
December 2010 designed to follow up on past results that have returned
strongly anomalous uranium mineralization.
All five holes in the 2010 program returned uranium values grading up
to 71 parts per million (ppm) uranium (see news release issued April 7, 2011),
continuing to indicate the potential for high-grade uranium mineralization.
“Uranium values exceeding 1ppm are accepted as being significant, with
values exceeding 10ppm suggesting the presence of an alteration zone and
the distinct possibility of a lens of high grade mineralization in the immediate
vicinity,” Mr. Jones added. “These results continue to enhance our
understanding of the geology at Diabase, and are sufficiently encouraging
that we have begun another round of drilling, This additional 2,000m program
will again concentrate on the core of the property where numerous factors
point to the possibility of a nearby uranium deposit.”
Diabase Peninsula
One of the Athabasca Basin’s Most Prospective
Uranium Projects
La Ronde, Saskatchewan, Canada
- There were
61 nuclear reactors under construction around the world
as of April 1, 2011 in 13 countries, along with 158 on order
or planned and another 326 proposed according to the
World Nuclear Association. This demand is the impetus
for Nuinsco’s commitment to exploration in the Athabasca
Basin, a region that hosts the world’s largest and
richest uranium mines and already supplies
about 20% of the world’s uranium.
World Nuclear Power Reactors & Uranium Requirements
Nuclear Electricity
Generation
2009
billion kWh
2560 13.8
440 375,410
158 176,767
326 370,995
68,971
61 64,074
MWe net
% e
No.
MWe gross
No.
MWe gross
No.
MWe gross
tonnes U
No.
Reactors
Operable
April 2011
Reactors Under
Construction
April 2011
Reactors
Planned
April 2011
Reactors
Proposed
April 2011
Uranium
Required
2011
Sources:
Reactor data: World Nuclear Association (WNA) to 1/4/11.
International Atomic Energy Agency (IAEA) - for nuclear electricity
production & percentage of electricity (% e) 3/5/10.
WNA: Global Nuclear Fuel Market report 2009 (reference scenario) - for U.
Operating = Connected to the grid;
Building/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.
MWe = Megawatt (electrical as distinct from thermal), kWh = kilowatt-hour.
“Uranium values exceeding 1ppm are accepted as
being significant, with values exceeding 10ppm
suggesting the presence of an alteration zone and
the distinct possibility of a lens of high grade
mineralization in the immediate vicinity.”
- Paul Jones