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nuinsco resources ltd (NWI) Snapshot

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Shares Outstanding
295.5M
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nuinsco resources ltd (NWI) Details

Nuinsco Resources Limited engages in the acquisition, exploration, and development of properties for the mining of precious and base metals in Canada and Turkey. The company holds interests in gold, copper, phosphate, rare metals, niobium, phosphorus, zinc, tantalum, and uranium assets in the provinces of Saskatchewan, Ontario, and Québec, Canada, as well as in Turkey. It also a 50% interests in properties located in Québec’s Chibougamau mining camp, including eight copper/gold mines, three partially-developed copper projects, and a 38,000 hectare land position. Nuinsco Resources Limited was founded in 1977 and is headquartered in Toronto, Canada.

9 Employees
Last Reported Date: 03/31/14
Founded in 1977

nuinsco resources ltd (NWI) Top Compensated Officers

Chief Executive Officer, Director and Chairma...
Total Annual Compensation: C$170.6K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$73.2K
Compensation as of Fiscal Year 2013.

nuinsco resources ltd (NWI) Key Developments

Nuinsco Resources Ltd. Reports Additional Copper Intersections at Cbay's Devlin Deposit Continued Good Copper Grade and Continuity to Allow Resource Delineation

Nuinsco Resources Ltd. announced receipt of additional analytical results from its diamond drilling program at the Devlin copper project, Chibougamau, central Quebec. These results are from drill holes DEV-14-07 through DEV-14-13 of a thirteen-hole program and follow release of the results of the first six drill holes from the program. Results from the seven holes reported here include copper grades of up to 5.54% Cu over 0.5 m, 0.3 m of 7.26% Cu and 16.05% Cu over 0.3 m. Devlin is held by CBay Minerals Inc. (CBay). As previously reported the objective of this program was to produce sufficient data to estimate a resource on the project. A resource at Devlin will supplement the NI 43-101 copper resource that already exists on the nearby, 100% CBay-owned, Corner Bay deposit. Both Devlin and Corner Bay have the potential to provide feed to CBay's Copper Rand mill in Chibougamau following a short period of additional development. The Company believes that the drill program and resource development at Devlin is the most effective method of adding value to the Chibougamau assets. Thirteen vertical diamond drill holes, comprising 1,461 m of drilling, were collared and completed in total. The results of DDHs DEV-14-07 through DEV-14-13 are reported here. These copper intersections are consistent with earlier results and continue to provide confidence in grade and continuity. Of particular note is the intersection from DDH DEV-14-07 of 1.4 m grading 2.06% Cu (true width) and DEV-14-12 with 2.1 m grading 4.17% Cu (true width). The primary intent of the drill program was to characterize the sulphide mineralization zone and to better define its limits. Three of the thirteen holes (DEV-14-01, -12 and -13) were drilled to twin historic holes to confirm the validity of past assay results. The results from the 13 holes will be combined with those from earlier programs to provide sufficient ore-grade intersections to produce a resource estimate. Devlin is an easily-accessible, partially-developed, high-grade copper deposit located about 10 km west of Corner Bay and about 40 km by road from the Copper Rand mill and tailings management facility. Both Devlin and Corner Bay are directly accessible via the local road network. As currently identified, the mineralized zone at Devlin is 365 m long, 215 m wide, approximately 1.8 m thick on average and is accessed by a 350 m decline and over 600 m of exploration drifts. In 1995, Watts Griffiths and McOuat Limited (WGM) estimated Devlin to contain Proven and Probable reserves of 146,000 tones at 3.38% copper, Measured and Indicated resources of 149,700 tones grading 3.95% copper and Inferred resources of 90,700 tones grading 3.69% copper (historic results reported by Watts Griffiths and McOuat (WGM) in 1995). The Devlin deposit is within 100 m of surface.

Nuinsco Resources Ltd. Receives Analytical Results from its Diamond Drilling Program at the Devlin Copper Project, Chibougamau, Central Quebec

Nuinsco Resources Ltd. announced receipt of analytical results from its diamond drilling program at the Devlin copper project, Chibougamau, central Quebec. Results from the first six include copper grades of up to 8.57% Cu over 1.0m and 11.0% Cu over 0.5m. Devlin is held by CBay Minerals Inc. ("CBay). The object of the program is to develop a resource estimate on the project which will supplement the NI 43-101 copper resource that already exists on the nearby, 100% CBay-owned, Corner Bay deposit. Both Devlin and Corner Bay have the potential to provide feed to CBay's Copper Rand mill in Chibougamau following a short period of additional development. The company believes that the drill program and resource development at Devlin is the most effective method of adding value to the Chibougamau assets and hence to shareholders. Thirteen vertical diamond drill holes were collared and completed at the deposit, comprising 1,461m of drilling in total. The intent of the drill holes was to obtain intersections to characterize the sulphide mineralization and to better define its limits. The results from these holes will be combined with those from earlier programs to provide sufficient ore grade intersections to produce a resource estimate. The results of DDHs DEV-14-01 through DEV-14-06 are reported here. Intersections of copper mineralization are consistent with historical results and demonstrate good continuity of grade. Of particular note is the intersection from DDH DEV-14-01 of 2.2m grading 4.33% Cu (true width) and DEV-14-03 with 9.5m grading 1.25% Cu (true width) and 3.0m grading 2.88% Cu (true width). Devlin is an easily accessible, partially-developed, high-grade copper deposit located about 10km west of Corner Bay and about 40km by road from the Copper Rand mill and tailings management facility. Both Devlin and Corner Bay are directly accessible via the local road network.

Nuinsco Resources Limited Announces Resignation of Ed Guimaraes from the Board of Directors, Effective November 17, 2014

Nuinsco Resources Limited announced that Ed Guimaraes has tendered his resignation from the Board of Directors, effective November 17, 2014. Mr. Guimaraes informed the Board that he has accepted the position of Chief Financial Officer with Sierra Metals, and his new employers have required that Mr. Guimaraes divest himself of directorships.

 

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