TORONTO, ONTARIO -- (Marketwire) -- 02/26/13 -- Nuinsco Resources Limited ("Nuinsco" or "the Company") (TSX: NWI) (www.nuinsco.ca) today announced further positive analytical results from the final nine diamond drill holes completed in November 2012 on CBay Minerals Inc.'s ("CBay") Portage Island gold occurrences and new geophysical anomalies in the Chibougamau mining camp in northern Quebec. Multiple intercepts grading greater than 20.0 g/t gold were returned, with the highest grade core-length intercept, 93.20 g/t over 0.25 metres, coming from a newly-identified geophysical target.
"Unsurprisingly, some holes on new geophysical targets didn't intersect significant mineralization however we are pleased with the results from DDH NH-12-11 where we drilled 2.96 metres grading 8.37 g/t gold. This is clearly a result on which we need to follow up," said Paul Jones, President. "On the Hematite Bay gold zone drilling, all holes, NH-12-14 through NH-12-18, intersected gold, copper and silver mineralization, including particularly significant near-surface results from NH-12-14 of 12.23 g/t gold over 2.34 metres along with a number of other intercepts. Nuinsco intends to spend a minimum of $700,000 on drilling and exploration in the Chibougamau region this year, and next steps will be announced shortly."
As previously reported, the 18-hole, 1,683m drilling program tested a number of gold targets, including a portion of the McKenzie Vein above where it was mined as part of the Portage Mine between 1959 and 1997 and new targets acquired from an induced polarization geophysical survey that was also completed this autumn (see news release of October 17th, 2012). The Portage Mine is only one of three past-producing copper/gold mines that are 100%-owned by CBay and located on Portage Island. The results tabulated here continue to demonstrate the presence of widespread, near-surface gold mineralization.
Hole No. From (m) To (m) Interval (m) Au g/t Cu % Ag g/tNH-12-10 No significant results, geophysical target, disseminated magnetite and pyriteNH-12-11 35.80 38.76 2.96 8.37 0.1188 1.39Incl 35.80 36.05 0.25 93.20 0.6260 12.10 43.76 46.25 2.49 0.42 0.2282 2.57NH-12-12 No significant results, geophysical target, disseminated magnetite and pyriteNH-12-13 No significant results, geophysical target, disseminated magnetite and pyriteNH-12-14 9.00 9.44 0.44 2.41 0.0268 1.10 17.06 19.40 2.34 12.23 0.2617 2.52Incl 17.06 17.90 0.84 20.00 0.4920 5.00And 17.90 18.45 0.55 13.60 0.1705 1.90 77.40 78.63 1.23 4.09 0.1480 1.34 95.10 97.77 2.67 3.82 0.1722 1.85Incl 95.10 95.50 0.40 21.80 0.9540 10.20And 97.52 97.77 0.25 4.79 0.2600 2.20 105.78 106.04 0.26 5.00 0.0129 0.80NH-12-15 36.80 37.50 0.70 4.25 1.54 1.80 51.26 52.75 1.49 12.13 0.3186 2.99Incl 52.20 52.75 0.55 29.90 0.5480 6.40 117.90 119.20 1.30 1.78 0.0261 0.91 122.20 122.50 0.30 2.97 0.3710 2.10NH-12-16 48.00 53.60 5.60 1.75 0.1808 1.09Incl 48.00 48.40 0.40 8.28 0.5290 3.50And 49.80 50.20 0.40 4.26 0.1520 2.30And 53.00 53.60 0.60 5.48 0.8480 3.90 104.00 105.00 1.00 1.09 0.0065 0.60 117.00 117.50 0.50 1.02 0.0065 0.40NH-12-17 14.87 15.30 0.43 0.50 0.0830 2.80 93.25 93.55 0.30 0.03 0.5050 0.20NH-12-18 62.20 62.55 0.35 3.20 1.82 1.10 117.75 118.70 0.95 1.14 0.0460 0.30
