over 40 years - Nuinsco Resources Limited

Q1, 2015
Nuinsco Resources Limited has over 40 years of exploration success and is
a growth-oriented, multi-commodity mineral exploration company focused
on world-class mineralized belts in Canada and internationally. In addition
to its property holdings in Ontario, Saskatchewan and Turkey, Nuinsco
owns common shares in Victory Nickel Inc. (TSX:NI) and a 7.5% interest in
CBay Minerals Inc. (92.5% Ocean Partners Investments Limited), a private
company that is a dominant player in Quebec’s Chibougamau mining camp
with assets including a permitted mill and tailings facility, eight past-producing
copper/gold mines, three potential near-term copper producers and a 39,000
hectare land position. Shares of Nuinsco trade on the Toronto Stock Exchange
under the symbol NWI.
Symbol: NWI:TSX
52 week High:
$0.035
52 week Low:
$0.01
Berta, Turkey
OVER 40 YEARS
of exploration success
1970
1971
1973 1979 1981 1983 1987 1994
1995
1999
2000
2001
2004
2005
2006
w
2007
2009
2010 2011
2012
2013
2014
Management group takes control of New Insco Mines Ltd.
Hebecourt, 1.2 million ton copper-rich deposit discovered in Noranda, Quebec.
Uranium exploration begins at Prairie Lake.
Nuinsco Resources Ltd. is successor to New Insco Mines Ltd.
Work begins at Cameron Lake gold deposit, Kenora.
Gold resource identified at Cameron Lake.
Aldermac 7 and 8 zones (Cu/Zn/Au/Ag) discovered near Rouyn-Noranda, Quebec.
Rainy River deposit, 17 Zone (Au) discovered.
Rainy River deposit, 34 Zone (Ni/Cu/Au/PGE) discovered.
Lac Rocher Ni deposit discovered in Quebec.
Mel sulphide nickel property, Manitoba, optioned from Inco Limited.
Minago sulphide nickel property, Manitoba, acquired from Black Hawk Mining.
Nuinsco expands into Turkey (Berta Cu/Au porphyry) and Saskatchewan (Diabase Peninsula uranium property).
Second Turkish property optioned: Elmalaan (Cu/Zn VMS).
Chibougamau mining camp entered via agreement with Campbell Resources Inc.
Nuinsco creates Victory Nickel through the spin-off of its Minago, Mel and Lac Rocher projects.
Nuinsco bids on Egyptian gold concessions Bukari and Umm Samra.
330-360 million tonne Exploration Target Mineralization Inventory (“ETMI”) at Prairie Lake
property announced.
- Bukari and Umm Samra bid is successful.
- Cameron Lake sold to Coventry Resources for $12 million consideration.
- Nuinsco and Ocean Partners gain effective control of Chibougamau mining camp, Quebec.
Nuinsco and Ocean Partners complete transfer of ownership of Chibougamau assets to CBay.
Prairie Lake ETMI increased to 515-630 million tonnes.
Nuinsco sells Cameron Gold project royalty for cash proceeds of US$5.1 million.
Nuinsco acquires 100% of option on Diabase Peninsula uranium property.
Nuinsco makes strategic investment in Victory Nickel Inc.
Victory Nickel Inc. loan converted to direct interest in frac sand cash flows.
www.nuinsco.ca
Forward-Looking Information: This document contains forward-looking information. All statements, other than statements of historical fact,
that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitute
forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on
information currently available to the Company. For further details regarding FLI, please consult the Company’s public disclosure, including
the annual information form filed on SEDAR at www.sedar.com.
Corner Bay, Chibougamau, Quebec, Canada
STRATEGIC INVESTMENTS
Interest in Victory Nickel Inc.
Victory Nickel Inc. (TSX: Ni) has approximately
1 billion pounds of nickel in M&I resources in
four Canadian sulphide nickel projects, including
the fully permitted Minago Project in Manitoba.
Nuinsco owns over 10% of Ni (partially diluted),
and is also positioned to participate in near-term
cash flow from Ni’s entry into the frac sand
market through subsidiary Victory Silica Ltd.
(victorysilica.ca)
Interest in CBay Minerals
With the only mill in the area and a significant
land position, CBay is the premier player in
Québec’s prolific Chibougamau mining camp.
Nuinsco owns 7.5% of CBay.
Why Invest in Nuinsco
• One of Canada’s most experienced exploration
companies.
• Diverse, experienced and respected Board of
Directors.
• Continuous history of discoveries over a 40-year
period.
• Track record of spinning out projects to create value.
• Moving forward with value realization from
Chibougamau assets in CBay Minerals.
• Solid base of top-tier Canadian exploration
assets in Saskatchewan, Ontario and Quebec.
• Evaluating additional projects worldwide.
• Poised to benefit from net cash flow participation
from frac sand sales through investment in
Victory Nickel Inc.
Diabase Peninsula
Prairie Lake
Chibougamau
Berta
www.nuinsco.ca
NWI Projects
RARE METALS, PHOSPHORUS & URANIUM
GOLD & BASE METALS
Prairie Lake, Ontario
Diabase Peninsula, Saskatchewan
Chibougamau, Quebec
Berta, Turkey
Located about 45 km northwest of
Marathon, Ontario, Nuinsco’s Prairie
Lake property covers the entire 2.8 km2
(at surface) Prairie Lake Carbonatite
Complex, is located just 28 km north
of the TransCanada Highway and has
year-round road access.
Prairie Lake hosts an Exploration
Target (“ET”) totaling 515-630 million
tonnes grading between 0.09-0.11%
niobium (0.9 to 1.1 kg/tonne Nb2O5)
and 3.0-4.0% phosphorus (1.2 to
1.4 kg/tonne P2O5). This tremendous
tonnage places Prairie Lake well within
the ranks of the ten largest carbonatitehosted niobium deposits in the world.
In North America, Prairie Lake is
second only to the Iron Hill Project
in Colorado, owned by Colorado
Rare Earths Inc., in contained tonnes
(the average grade at Prairie Lake
is, however, greater). All of the
mineralization is exposed at surface
and much of it could be exploited by
simple quarrying methods. The suite
of minerals of potentially economic
significance also includes tantalum
(Ta2O5), uranium (U3O8) and rare earth
elements (REE) (including lanthanum
(La), cerium (Ce), samarium (Sm),
neodymium (Nd) and yttrium (Y)).
Only a small percentage of the
surface area of the 100%-owned Prairie
Lake carbonatite has been significantly
explored and is included in the ET.
Nuinsco has already shown that
high-quality phosphorus and niobium
concentrates can be produced
from Prairie Lake mineralization.
Metallurgical evaluation focusing
on REEs is ongoing on a 30 tonne
bulk sample that was extracted
at Prairie Lake.
Nuinsco’s Diabase Peninsula uranium
project is located about 150 km
northwest of La Ronge, Saskatchewan
on the edge of the Athabasca Basin,
which hosts the world’s richest uranium
mines. It encompasses a 35 km strike
length of the regional-scale Cable
Bay Shear Zone deformation zone in
the basement rock units below the
basin sandstone - considered to be a
potentially significant structure for the
localization and deposition of uranium
mineralization.
Exploration work on the 21,000
hectare Diabase Peninsula Project,
situated approximately 5 km north
of the southern boundary of the
Athabasca Basin, has included 42 drill
holes totalling 17,356m. Of these, a
remarkable 33% have returned samples
with uranium content exceeding 50
parts per million (ppm) and 67% have
returned values greater than 10ppm
uranium (uranium values exceeding
10ppm suggest the presence of a
uranium mineralizing event and the
distinct possibility of a lens of uranium
mineralization in the immediate
vicinity). These positive results serve
to further reinforce and highlight
the outstanding scale of uranium
mineralization at Diabase.
Drilling has encountered highlyanomalous uranium values of up to
707 ppm uranium (0.083% U3O8)
located at or near the contact between
the sandstone layer and underlying
graphite-bearing basement rocks (the
“Unconformity”), which is the prime
site for the occurrence of uranium
deposits in the Athabasca Basin.
In the most recent drill program,
uranium values peaked at 55.94ppm
over 6.9m, including individual intervals
grading 134ppm and 181ppm uranium.
Results like these continue to highlight
the exploration potential of the
Diabase Peninsula property.
By virtue of a vast 39,000 ha property
position and physical assets (3,000 TPD
mill and permitted tailings facility), CBay
Minerals Inc. (“CBay”) owned by Nuinsco
and Ocean Partners Holdings Limited
(“Ocean Partners”), has a dominant position
in the historic Chibougamau mining camp
located about 500 km from Montreal in
northwestern Quebec.
In addition to the mill, the tailings
facility and an extensive package of known
copper- and gold-bearing exploration
properties, most of which have not been
explored for decades, CBay’s assets
include eight past-producing mines (with
exploration upside) representing 75% of
total copper and gold production from the
Lac Doré Complex. The Lac Doré Complex
has produced 47.6 million tons of ore
containing 1.6 billion pounds of copper and
3.2 million ounces of gold. The CBay assets
also incorporate several development-stage
properties, including the partially-developed
high-grade Corner Bay copper deposit.
The Corner Bay copper deposit is
located on the south flank of the Lac
Doré Complex, approximately 45 km from
CBay’s Copper Rand mill. Development of
the high-grade Corner Bay deposit began
in 2007 for extraction of a 50,000 T bulk
sample. Development ceased in 2008 due
to the previous operator’s deteriorating
financial situation as a result of the global
financial crisis. A National Instrument 43-101
estimate of resources at Corner Bay, dated
July 9, 2012, is available under the Nuinsco
Resources Limited profile at www. sedar.com.
The Corner Bay deposit remains
open to depth and is a priority exploration
target. In addition to the exploration upside
Corner Bay has near-term production
potential, representing a source of mill
feed for any future Chibougamau camp
mining plan and also has the potential to
be a standalone mining operation.
In 2013, CBay enhanced its position in
the Chibougamau camp by optioning the
partially-developed Devlin and Perch River
copper projects. Devlin and Perch River are
both shallow, flat-lying, copper deposits
located approximately 35 km southeast
and 80 km northeast, respectively, of the
town of Chibougamau. Like Corner Bay,
Devlin and Perch River offer the potential
to be feed sources in the near term for
CBay’s Copper Rand mill. Devlin has an
NI 43-101 resource also available at
www.sedar.com
Berta, located about 50 km south of the
Black Sea, is a joint venture with Glencore
Canada Corporation. The Berta porphyry is
reputed to be the largest copper anomaly
in the Turkish Pontides, covering 15 km3.
Extraordinarily anomalous copper has
been obtained in drilling, most notably
from hole SD-07-08 that intersected
710m of 0.28% Cu, with grades peaking
at 30% Cu and 7.19% Zn. These results
were followed up by further positive
intersections, including Hole SD-08-09
which returned 459m of continuous
copper-gold mineralization starting from
only 4m below surface and grades of up
to 5.07% copper over 4.5m. Results from
this hole include 179.9m grading 0.31%
copper and 0.31g/t gold within a longer
interval of 459m grading 0.17% copper
and 0.17g/t gold. Of particular note is the
presence of mineralization near surface in
both drill holes. These results highlight the
tremendous potential of the essentially
unexplored Berta property.
Assays reported in 2013 added
to these past results by returning
consistently copper-anomalous results.
All of the holes drilled to date at Berta
have returned copper mineralization.
The drilling indicates the huge scale and
continuity of the anomaly in the Berta
porphyry system. The wide spacing of
the drill holes and the long intercepts
obtained continue to demonstrate the
scope of the copper mineralization at
Berta. The property remains a very
large and very prospective exploration
opportunity.
Strategic Investments
1
The potential quantity and grade of the ET is conceptual in nature and there has been insufficient exploration to define a NI 43-101 mineral resource. Therefore, it
is uncertain that further exploration will result in the delineation of the ET as a mineral resource deposit.
CORPORATE INFORMATION
Corporate Office
Nuinsco Resources Limited
80 Richmond St. W., 18th Floor, Toronto,
Ontario, M5H 2A4
Tel: 416.626.0470 Fax: 416.626.0890
Email: [email protected]
www.nuinsco.ca
Investor Relations
Sean Stokes
Tel: 416.626.0470 Fax: 416.626.0890
[email protected]