Fall 2011
5
Fall 2011
5
“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.
The ETMI makes Prairie Lake the ffth largest niobium-bearing carbonatite
in the world and the second largest in North America. Also setting it apart
from other 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 45km
northwest of Marathon, Ontario, it covers the entire 2.8km
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 signifcance 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
initial testing, 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. Additional tests will evaluate producing a rare metal
concentrate and the potential to upgrade the P
2
O
5
content to the 30% range.
Completion is expected in early 2012.
Nuinsco completed approximately 4,000m of diamond drilling and more
than 2km of trenching in 2010 with excellent results. Trench results included
grades up to 1.08% REEs, 6.14% P
2
O
5
, 0.27% Nb
2
O
5
and 23.7ppm Ta (see
news releases issued March 10 and April 11, 2011).
“This trenching program demonstrates strong niobium and phosphorus
mineralization, with REEs and tantalum, over signifcant sampling lengths,
indicating the potential to substantially increase the scale of the ETMI reported
previously,” Mr. Jones, added.
The frst diamond drill hole reported (see news release issued April 15,
2011) further added to the knowledge base, returning grades up to 0.957%
Nb
2
O
5
and 8.68% P
2
O
5
as part of a 246m interval grading 0.118% Nb
2
O
5
and 3.41% P
2
O
5
in addition to REEs and tantalum.
“With interest in rare metals increasing and world supply tightening, Nuinsco’s
Prairie Lake project is an increasingly important and valuable asset,” said René
Galipeau, Vice-Chairman and CEO. “We have already delineated a signifcant
tonnage hosting not only REEs but rare metals, phosphates and uranium and we
have shown that a high-value concentrate can be produced using low-cost fotation.
The drilling and trenching is designed to increase the known tonnage incorporated
in the ETMI as well as to help us better understand the project’s mineralization.”
1
The potential quantity and grade of the ETMI is conceptual in nature and there has been insuffcient exploration to
defne a mineral resource. It is uncertain if further exploration will result in the discovery of a mineral resource.
•
Rare Metals
•
Prairie Lake
Gaining Momentum as Drilling and Trenching
Add to Economic Potential of Rare Metals Project
Second largest niobium-bearing carbonatite in North America, and growing
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.
Prairie Lake Property - aerial schematic
Drilling at Diabase
NWI
Diabase Peninsula
(Canada)
Location
Athabasca Basin,
Saskatchewan, Canada
Ownership
89%
Commodity
Uranium
Project Status
Exploration
“
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.
”
- Paul Jones, President