(via TheNewswire)
Highlights:
Metallurgical program to date has produced very encouraging results.
A clean phosphate concentrate, grading 26% P2O5 at 76% recovery reliably produced.
Valuable rare earth elements co-concentrated with phosphate.
Ample room remains for additional improvements of grade and recovery of phosphate, rare earth elements (“REE”) and niobium with further testing.
Mr.
“The accumulating metallurgical results continue to deliver excellent news on the potential economic viability of the
Securing a reliable critical minerals supply chain is a strategic concern identified by numerous governments in the recent past and addressed with incentives and programs to encourage development of the critical minerals sector. The Project is located near the north shore of
The towns of
Marathon ,Terrace Bay and other affected communities - all a source of a local, skilled workforce.All weather forest access road crossing the project and deposit.
Paved Highways 17 and 11 to the south and north.
Canadian Pacific Kansas City Railway and Canadian National Railway networks.High capacity (230kV) electrical power transmission line.
50km from the
Marathon deep water port project. Deep-water ports are also located atThunder Bay andSault Ste. Marie , able to handle ocean going ships.The Marathon airport .
About
Prairie Lake Project Pit Constrained Mineral Resource Estimate(1-6)
Rare Earth Oxides | Niobium | Phosphate | |||||||||||
Class | Cut-Off | Tonnes | Nd2O3 | Pr6O11 | Sc2O3 | CeO2 | La2O3 | Sm2O3 | Ta2O5 | Y2O3 | TREO | Nb2O5 | P2O5 |
NSR C$/t | M | g/t | g/t | g/t | g/t | g/t | g/t | g/t | g/t | kg/t | % | % | |
Indicated | 30 | 15.6 | 344 | 96 | 15 | 754 | 300 | 58 | 28 | 100 | 1.67 | 0.16 | 3.71 |
Inferred | 30 | 871.8 | 409 | 82 | 18 | 905 | 388 | 79 | 17 | 127 | 2.01 | 0.10 | 3.39 |
*TREO = Total Rare Earth Oxides: neodymium,Nd2O3;praseodymium,Pr6O11; scandium,Sc2O3; Cerium, CeO2; lanthanum, La2O3; samarium, Sm2O3; yttrium, Y2O3.
A full description of methodology used to estimate the Prairie Lake project Mineral Resource Estimate is contained in the NI 43-101 compliant Technical Report, effective date
1. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration.
The Mineral Resources were estimated in accordance with theCanadian Institute of Mining , Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by theCIM Standing Committee on Reserve Definitions and adopted by theCIM Council .
5. US$ Metal prices used were
6. The constraining pit optimization parameters were
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 statementsare 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.
613-867-5902 | 416-712-7481 | 416-868-1079 877-838-1079 | |
paul.jones@ nuinsco.ca | sean.stokes@nuinsco.ca | cathy@chfir.com | @NWIResources |
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