Nuinsco Announces Seventh Intersection of More than 100m of Continuous Critical Elements & Phosphate Mineralization at Prairie Lake

TORONTO, ON / ACCESSWIRE / September 1, 2021 / Nuinsco Resources Limited ("Nuinsco" or the "Company") (CSE:NWI) today announced an intersection of 118.6m of Critical Elements and phosphate mineralization obtained from on-going drill-core sampling at its 100%-owned Prairie Lake project near Terrace Bay, Ontario.

"We continue to see extensive intersections of elements of significant economic interest from the Prairie Lake carbonatite complex. This most recent result brings to seven the number of drill-holes identified by this sampling program with intercepts of 100m or more of Critical Elements - of note this most recent intersection contains 118.6m grading more than 2000g/t combined REEs (see below for tabulated individual REE values)" said Paul Jones, Nuinsco's CEO. "The intersections received to date have been obtained from near surface mineralization that the Company is expecting to use for a resource estimate, there is no indication that mineralization diminishes with depth and the seven intersections reported to date occur over an interval of 530m in the Southwest Area Exploration Target (see map and table below), highlighting the potential scope and value of the mineralization on the project.

As previously reported the mineralization in the Prairie Lake intrusion occurs at surface and extends to unknown depth below the deepest drilling conducted to date (circa 500m vertically). The Prairie Lake complex hosts a suite of elements of economic interest identified as Critical Elements defined under the Canadian Minerals and Metals Plan ("CMMP") contained within a very large domain of mineralized rock that is extremely favourably located from a logistical perspective with rail, road, shipping, and power infrastructure already in place. The project hosts a number of elements and compounds of economic interest including those for which demand is projected to substantially increase and for which secure supply chains are sought.

Sampling of diamond drill core from holes NP0806 produced continuous mineralized intersections of 118.6m (from 6.4-125m) of niobium (Nb), tantalum (Ta), phosphate (P₂O₅), and rare earth elements (REE) including lanthanum (La), cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y) - analytical results are tabulated below. Eighteen drill-holes have been sampled to date, focussing on drill-holes collared to intercept the Southwest (SW) Area (see map below) - this domain measures 1km in length and is between 150m and 750m wide at surface. The SW Area alone hosts an Exploration Target ("ET") of 435-530 million tonnes with grades as tabulated in the "Prairie Lake ET" table below. The sampling will provide information to support the Company's goal of establishing a mineral resource at Prairie Lake.

Principal rock type: CRBT=carbonatite; IJ-PYX BX = breccia with crbt matrix & ijolite or pyroxenite clasts; MEL-IJ = melano-ijolite.
∑REE = Sum of Y, La, Ce, Nd, Sm; Y - yttrium, La - lanthanum, Ce - cerium, Nd - neodymium, Sm - samarium.
P₂O₅ - phosphate, Nb₂O₅ - niobium oxide, Ta₂O₅ - tantalum oxide, 1g/t = 1 ppm

The Prairie Lake project consists of 46 mineral claims covering an area of ~630 ha. Logistically Prairie Lake is superbly located, with ready access to power, road, rail and shipping infrastructure; it is easily accessed by an all-weather road from the TransCanada Highway 28 kilometres to the south. The mineralization identified is entirely contained within the Prairie Lake carbonatite complex; the ET of 515-630 million tonnes is defined by 59 diamond drill holes with grades as tabulated below.

All samples were analysed by Activation Laboratories (ActLabs) in Ancaster, Ontario. Samples were analysed for a whole rock and trace element ICP analytical package as well as for niobium, tantalum, and zirconium oxides using a fusion XRF method. An internal Quality Control Quality Assurance (QAQC) program was implemented with four QAQC samples (blanks and reference standards) added into the sampling stream.

Prairie Lake Drilling & Trenching by Target Area¹:

¹ Trench lengths are calculated as cumulative length of samples along trench.

Prairie Lake ET²:

² A full description of methodology used to estimate the Prairie Lake Project Exploration Target is contained in the Technical Report dated 30 November 2018 prepared by P&E Mining Consultants Inc.that is filed on SEDAR. The potential quantity and grade of the ET 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. There is no National Instrument 43-101 - Standards of Disclosure for Mineral Projects preliminary economic assessment in respect of the Prairie Lake ET.

Laura Giroux, P.Geo, Chief Geologist, acts as Nuinsco's Qualified Person under National Instrument 43-101. Ms. Giroux has reviewed and approved the technical contents of this news release.

About Nuinsco Resources Limited

Nuinsco Resources has over 50 years of exploration suc­cess and is a growth-oriented, multi-commodity mineral explora­tion and development company focused on prospective oppor­tunities in Canada and internationally. Currently the Company has four properties in Ontario - the high-grade Sunbeam gold property near Atikokan, the Dash Lake gold property near Terrace Bay, the large multi-commodity (rare-earths, niobi­um, tantalum, phosphate) Prairie Lake project near Terrace Bay, and the Zig Zag Lake property (lithium, tantalum) near Armstrong. In addition, Nuinsco has an agreement for gold exploitation at the El Sid project in the Eastern Desert of Egypt.

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 learn more, please visit www.nuinsco.ca or contact:

Paul Jones, CEO
paul.jones@nuinsco.ca

Cathy Hume, Consultant
cathy@chfir.com

Instagram: @nuinscoresources
Twitter: @NWIResources

SOURCE: Nuinsco Resources Limited