TORONTO, ONTARIO--(Marketwire - Feb 27, 2013) - Nuinsco Resources Limited ("Nuinsco" or "the Company") (NWI.TO) (www.nuinsco.ca) today reported analytical results from DDHs SD-12-16 and SD-12-17, the fifth and sixth drill holes of a six-hole program on the Berta porphyry copper project in northeast Turkey. The results, in common with all other drilling conducted on the project, are consistently copper mineralized and define an enormous volume of mineralized rock with the east side of the Berta Complex regularly returning stronger results with intercepts including 1.59% Cu over 12.65m and 0.42% Cu over 36.4m and grades up to 22.7% Cu over 0.6m.
"All of the holes drilled to date at Berta have returned copper mineralization," said Nuinsco''s President Paul Jones. "The drilling indicates the huge scale and continuity of the anomaly in the Berta porphyry system. The wide spacing of the drill holes and the long anomalous and altered intercepts obtained continue to demonstrate the scope of the copper mineralization at Berta. The property remains a very large and very prospective exploration opportunity."
Berta is reputed to be the largest copper anomaly in the Turkish Pontides metals belt. Total area covered by the 17 widely-spaced drill holes completed to date is about 8 km2. The current program was conducted during the autumn of 2012 to test bedrock beneath a large copper-in-soil anomaly.
Drill hole SD-12-16 of the 4,720-metre 2012 program returned 397.55m grading 0.097% Cu (from 475.45m) including 36.4m grading 0.40% Cu (from 532.1m). This hole was collared on the east side of the copper-in-soil anomaly where it intersected phyllic altered and sulphide mineralized dacite. Approximately 800m to the south and near the eastern periphery of the Berta Complex DDH SD-12-17 returned 554.2m grading 0.13% Cu (from 296.8m) or 0.10% Cu when copper grades are cut to 5% Cu, including 121.35m grading 0.34% Cu (from 346.2m) or 0.24% Cu when copper grades are cut. Narrower intervals return exceptional copper grades, for example 22.70% Cu over 0.6m (from 452.1m) that also grades 90.50g/t Ag and 1.6g/t Au. This hole intersected similarly mineralized dacite underlying the north-eastern part of the copper-in-soil anomaly.
Although primarily a copper target, significantly anomalous gold and silver also occur and molybdenum has also been recognized at depth in some drill holes. When combined with the results of previous drill programs it is becoming clear that, although the entire Berta domain is anomalous with respect to copper, the eastern part of the Berta Complex returns the strongest mineralization. For instance, in addition to strong mineralization observed in current DDHs SD-12-13 and 17, DDH SD-07-08 intersected 710.9m grading 0.28% copper and 0.07g/t gold (see press release dated Apr. 25, 2007) and DDH SD-08-10 returned 164.0m grading 0.20% copper and 0.06g/t gold see press release dated Oct. 20, 2008). The eastern domain of the Complex alone, as outlined by diamond drilling, defines an extremely large volume of rock and is an attractive and prospective exploration target.
The work program was operated by the Company''s joint venture partner Xstrata Copper. Analytical results are tabulated below; all analyses were produced by ALS Laboratories Vancouver, BC facility.
|From (m)||To (m)||Interval (m)||Cu (%)||Cu - Cut 5%||Au (g/t)||Au - Cut 1 g/t||Ag (g/t)||Ag - Cut 31 g/t|
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. Paul Jones, President, acts as Nuinsco''s Qualified Person under National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
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About Nuinsco Resources Limited
Nuinsco is a growth-oriented, multi-commodity mineral exploration company that is focused on world-class mineralized belts in Canada and internationally. In addition to its property holdings, Nuinsco owns common shares in Coventry Resources Limited (TSX VENTURE:CYY)(CYY.AX) and Victory Nickel Inc. (NI.TO), and a 50% interest in CBay Minerals Inc., a private company that is a dominant player in Quebec''s Chibougamau mining camp with assets including a permitted mill, tailings facility, eight past producing copper/gold mines and a 96,000 acre land position. Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements." All statements, other than statements of historic fact, that address activities, events or developments that Nuinsco believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Nuinsco based on information currently available to Nuinsco. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Nuinsco to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Nuinsco. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world copper and/or gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain tenure to properties and/or necessary permits and approvals, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Nuinsco disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Nuinsco believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
To view the map of the "Diamond Drill Holes, Berta Nuinsco/Xstrata Copper Joint Venture, Turkey", please visit the following link: http://media3.marketwire.com/docs/BertaNuinsco.pdf.