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NWI
:TSX
Nuinsco Resources Limited
Building …on a Proven Track Record
MENA
Nuinsco Expands MENA Presence
with Option on Gold Concession
in Sudan
Projects in Turkey, Egypt and now Sudan give Nuinsco
a solid asset base in the MENA region
Khartoum, Sudan
- Nuinsco began building a presence in the Middle East
North Africa (“MENA”) region back in 2005 with the addition of two base metal
exploration projects in Turkey. The pace picked up considerably in 2009/2010
with the addition of two gold concessions in Egypt’s Eastern Desert, and
this presence has expanded again in 2011 with an option agreement
on the J. Tobrar gold concession in northeastern Sudan.
In July the Company entered into an option
agreement with Makaseb Holding LLC, to acquire
an 85% interest in that company’s Sudanese
subsidiary UAE for Gold Minerals and Investment
Company Ltd. (“UAE Gold”). UAE Gold owns 100%
of the J. Tobrar (Block 64) concession that hosts
the Hamil Gold Vein System, a high-grade, gold
vein network that is at least 800m by 300m at
surface, as well as other gold occurrences
scattered around the concession.
Full tenure has been granted by the Sudanese
government enabling Nuinsco to begin full-scale
exploration immediately, and the frst results from
the property were exceptional (see article pg 5).
The J. Tobrar concession is large, 3,440km
2
in area, and is located in the Sudanese Red Sea
State approximately 420km northeast of the
capital city of Khartoum. It is also approximately
100km south of the multi-million ounce Hassaï
gold mine that has been in production since 1992
and is 40% owned by TSX-listed La Mancha
Resources Inc. The rocks underlying northeastern
Sudan are part of the Arabian-Nubian shield, a
Precambrian mineralized domain that underlies
parts of Egypt, Sudan, Eritrea, Ethiopia, Israel,
Jordan, Saudi Arabia and Yemen and hosts
hundreds of known gold occurrences.
Subsidiary NuMENA Minerals Corp. (“NuMENA”)
was created earlier this year by the Company as
a vehicle to acquire and explore mineral projects
in the MENA region. Ultimately Nuinsco intends to
•
Gold/Base Metals
•
spin-out NuMENA as a separate public company
focused on expanding its interests in this prospec-
tive area.
“Nuinsco recognizes the tremendous
potential for mineral discoveries in this essentially
unexplored region, and is dedicated to expanding
its MENA presence and to creating a standalone
public company that will allow its shareholders to
participate fully as exploration and mining grow
in MENA,” said Paul Jones, President. “We are very
encouraged by initial feld work on the J. Tobrar
project, and La Mancha’s success at Hassaï is a
positive indication of Sudan’s commitment to
building a mining industry.”
In addition to J. Tobrar, Nuinsco currently has
the following property interests in the MENA region:
• Berta and Elmalaan, base metals concessions
in northeastern Turkey. Drilling has returned
signifcant grades and widths on both projects,
including 710.9 metres grading 0.28% copper and
0.07 g/t gold between 3.80 metres and
714.7 metres at Berta (see news release dated
April 25, 2007).
• Bukari and Umm Samra, gold concessions in
Egypt’s Eastern Desert. Extensive grab sampling
at Bukari has returned assays peaking at 4.34 oz/
tonne gold (135 g/t) and averaging 3.28 g/t gold
(uncut) at the Talat Gadalla showing based on all
328 samples taken from surface programs (see
news release dated April 19, 2011).
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Gold
•
Cairo, Egypt
- 2010 and 2011 have been exciting
and challenging times in Egypt for Nuinsco. Since
winning the bid round in early 2010 for two gold
concessions, Bukari and Umm Samra, in Egypt’s
Eastern Desert, Nuinsco has pushed forward with
its efforts to explore the projects and solidify its
presence in this underexplored part of the world.
While Egypt’s pro-democracy demonstrations
of early 2011 changed the playing feld in the
near term, the Company remains positive and
continues to work toward receiving fnal tenure for
both concessions. Very encouragingly, tremendous
steps forward were made even in the face of the
signifcant political changes within the country,
receiving Egyptian State Council approval of
the Concession Agreement covering the Bukari
Concession Area in February 2011, and fnalizing
the concession agreement for Umm Samra with
the Egyptian Mineral Resources Authority (EMRA)
in July of this year.
“Finalizing the Umm Samra agreement with
EMRA is a positive sign as it shows that progress
is being made with respect to attracting foreign
investment despite the current political situation
in Egypt,” said Nuinsco President Paul Jones. “We
continue to use all means at our disposal to push
for fnal approval of both concession agreements
as quickly as possible.” In addition, the Company
has been informed that there has never been a
concession agreement that has received State
Council approval and not subsequently become law.
Three rounds of feld exploration have been
completed at Bukari, and in early March the frst
assays were released–with very positive results.
Multi-gram gold analyses, grading up to 46.30 g/t
(1.6 oz/t), were obtained from all six sites visited
and almost all samples collected contained signif-
cantly anomalous gold (see news release issued
March 1, 2011).
Subsequently, additional results have been
released with even higher grades, including 2.19
oz/t (75.1 g/t) gold from surface sampling at the
Bukari One occurrence (see news release issued
March 7, 2011) and 4.34 oz/tonne (135.0 g/t)
gold from the Talat Gadalla occurrence (see news
release issued April 19, 2011).
Talat Gadalla, Bukari One and Bukari North are
only three of the 13 named gold occurrences on
the Bukari Concession. They have a combined total
of more than 11km of strike length and all display
extensive gold mineralization at surface.
“The wide distribution of such an anomalous
Egypt
Progress Continues Despite
Challenging Times in Egypt
Excellent exploration results
bode well for the future