Nuinsco Announces Results That Further Indicate Large Scale of Copper Mineralization at Berta
25.01.2013 | Marketwire
HIGHLIGHTS:- Only 17 widely-spaced holes drilled to date.
- Drilling indicates greater than 8 KM2 copper-mineralized area.
- Copper mineralization has been intersected in all holes.
- Drilling shows stronger mineralization in the eastern part of the Berta porphyry.
- More drill results will follow.
TORONTO, ONTARIO -- (Marketwire) -- 01/25/13 -- Nuinsco Resources Limited ("Nuinsco" or "the Company") (TSX: NWI) (www.nuinsco.ca) today announced that the analytical results from DDHs SD-12-14 and SD-12-15, the third and fourth drill holes of a six-hole program on the Berta copper project in Turkey during the autumn of 2012, continue to indicate the significant scale of the Berta porphyry mineralization. Located in northeastern Turkey, 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 sq km. Copper has been obtained in all holes but the east side of the Berta Complex seems to provide better overall results.
Drill hole SD-12-14 of the 4,720-metre 2012 program returned 488.4m grading 0.06% copper, with grades up to 0.45% copper over 1.5 metres. This hole was collared on the west side of the copper-in-soil anomaly near the north boundary of the porphyry target where it intersected phyllic altered and sulphide mineralized dacite throughout. One kilometre to the south-east DDH SD-12-15 returned 876.4 metres of 0.06% copper, including grades up to 3.76% copper over 0.2 metres. This hole intersected similarly mineralized dacite underlying the north-eastern part of the copper-in-soil anomaly.
Berta is clearly a very prospective and a very large exploration target where, in addition to widespread copper, gold and silver mineralization in bedrock, locally anomalous molybdenum has also been identified at depth in some drill holes. Results from previous drill programs also returned very positive results, including DDH SD-07-08 which intersected 710.9m grading 0.28% copper and 0.07g/t gold (see press release dated Apr. 25, 2007) and DDH SD-08-10 which returned 164.0m grading 0.20% copper and 0.06g/t gold see press release dated Oct. 20, 2008).
"Once again the analytical results speak to the huge scale of the copper mineralization in the Berta porphyry system," said Nuinsco's President Paul Jones. "The drill holes were widely spaced in areas that were not previously drilled and, as with most holes drilled to date, both obtained long intersections of strongly altered and copper-mineralized rock. The results obtained from SD-12-14 and SD-12-15 build on past drilling by continuing to demonstrate the scope and continuity of the copper mineralization at Berta. All drill holes reported to date have returned copper mineralization."
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 (%) Au (g/t) Ag (g/t)
SD-12-14 0 488.4 488.4 0.06 0.01 2.9
including 16.7 18.8 2.1 0.12 0.01 610
100 137.3 37.3 0.12 0.01 0.24
including 100 110.3 10.3 0.21 0.01 0.15
306.35 322.8 16.45 0.14 0.01 0.95
400.7 402.2 1.5 0.45 0.009 2.30
440.9 462.2 21.3 0.11 0.01 1.44
SD-12-15 0 876.4 876.4 0.06 0.01 0.32
including 86.3 86.5 0.2 3.76 0.26 221
255.6 267.5 11.9 0.17 0.02 0.43
354.5 357.8 3.3 0.64 0.20 31.6
including 355.9 356.9 1.0 1.03 0.07 14.3
461.1 551.8 90.7 0.13 0.02 0.11
including 490.2 551.8 61.6 0.17 0.03 0.14
731.6 763.1 31.5 0.16 0.02 0.04
773.4 809.15 35.75 0.13 0.02 0.22
843.5 874.8 31.3 0.10 0.03 0.05
Results from the remaining two holes drilled in 2012 are pending and will be reported when available. 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.
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 (ASX: CYY)(TSX VENTURE: CYY) and Victory Nickel Inc. (TSX: NI), 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.
Please visit the Company's website at www.nuinsco.ca. Should you wish to receive Company news via email, please email juliet@chfir.com and specify "Nuinsco Resources" in the subject line.
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 "Diamond Drill Holes, Berta Nuinsco/Xstrata Copper Joint Venture, Turkey", please visit the following link:
http://media3.marketwire.com/docs/NWIfigure10125.pdf.
Contacts:
Nuinsco Resources Limited
Rene Galipeau or Sean Stokes
416.626.0470
416.626.0890 (FAX)
admin@nuinsco.ca
www.nuinsco.ca
CHF Investor Relations
Juliet Heading
416.868.1079 X239>
416.868.6198 (FAX)
juliet@chfir.com