TORONTO, ONTARIO–(Marketwire – Jan. 8, 2013) – Nuinsco Resources Limited (“Nuinsco” or “the Company”) (TSX:NWI) (www.nuinsco.ca) today announced the initial results received from the diamond drilling program conducted on the Berta Project in Turkey during the autumn of 2012. The work program was operated by the Company’s joint venture partner Xstrata Copper (“Xstrata”). The Berta Project is a copper porphyry target which is reputed to be the largest copper anomaly in the Turkish Pontides metals belt – as such it is an attractive and prospective exploration target.
A total of six diamond drill holes were completed in a work program that follows-up on the widespread and very anomalous copper mineralization identified in previous work programs. The drilling targeted areas not previously drilled but which are overlain by very strong copper-in-soil anomalies located at the centre, east and north of the Berta porphyry system. Results from past drill programs conducted between 2005 and 2008 returned very positive results, including DDH SD-07-08, collared at the northeast periphery of the Berta system, which intersected 710.9m grading 0.28% copper and 0.07g/t gold between 3.80m and 714.7m (see press release dated Apr. 25, 2007) and DDH SD-08-10 (collared 500m south of SD-07-08) which returned 164.0m grading 0.20% copper and 0.06g/t gold between 250.5m and 414.5m (see press release dated Oct. 20, 2008).
Drill hole SD-12-12 of the 2012 program was drilled to a depth of 733.2m on the western side of the anomalous copper-in-soil anomaly where it intersected altered and copper-mineralized dacite throughout that included 280.8m (from 312m down-hole) grading 0.09% copper. On the central-eastern margin of the anomalous copper-in-soil anomaly, collared approximately 1.8km east of SD-12-12, DDH SD-12-13 was drilled to a depth of 926m and intersected 354.6m (starting from 571.4m down-hole) which averaged 0.14% copper.
“The most recent drilling continues to demonstrate the enormous scale of the copper anomaly at Berta,” said Nuinsco’s President Paul Jones. “DDHs SD-12-12 and SD-12-13 were collared approximately 1.8km apart and both obtained long intersections of strongly altered and copper-mineralized rock. Further, the results obtained from SD-12-13 when compared SD-07-08 and SD-08-10 suggest that the eastern part of the Berta system is more strongly copper mineralized than elsewhere.”
Results from the other four 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:CVY) 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 [email protected] 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 “Drillhole Locations, Berta Joint Venture, Turkey” please visit the following link: http://media3.marketwire.com/docs/berta18.pdf.