4
NWI
:TSX
Nuinsco Resources Limited
Building …on a Proven Track Record
Building …on a Proven Track Record
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
Which countries
represent the best
opportunity in the
MENA region?
•
Base Metals
•
NWI
Berta (Turkey)
Location
Northeastern Turkey
Ownership
NWI/Xstrata Copper JV
Commodity
Porphyry Copper/Gold/Moly
Project Status
Exploration
NWI
Elmalaan (Turkey)
Location
Northeastern Turkey
Ownership
100%
Commodity
VMS Cu-Zn
Project Type
Underground potential
Project Status
Exploration
Drilling at the Berta
property in Turkey
For its part Nuinsco recognized the mineral potential of Turkey in 2005,
and acquired two properties: Berta and Elmalaan.
The Berta property, a joint-venture with Xstrata Copper, is located
approximately 50 km south of the Black Sea in northeastern Turkey and lies
within the prolifcally mineralized Tethyan-Eurasian Metals Belt. This belt hosts
numerous ore deposits along its length that traverse several countries. For
example, Iran’s Sarcheshmeh Mine is one of the world’s largest copper mines
at 1.2 billion tonnes grading about 1% copper. The Berta porphyry is reputed
to be the largest copper anomaly in the Turkish Pontides, covering 15km
3
.
Extraordinarily anomalous copper has been obtained in drilling, most notably
from hole SD-07-08 that intersected 710 metres of 0.28% Cu. The results
from this highly mineralized hole that ended at 771.5m in mineralization
highlight the potential of the Berta property.
Six kilometres south of the Black Sea coast, Nuinsco’s Elmalaan VMS Property
is easily accessible year-round. Previous work by Nuinsco identifed massive
sulphides in outcrop and locally-derived boulders grading up to 30.38% copper
and 56.30% zinc–exceptionally high grades by any standard. Subsequent drilling
has returned multiple intercepts of strong zinc mineralization at Elmalaan.
The extraordinary exploration potential of Berta and Elmalaan gave
Nuinsco its entry in the burgeoning Middle East-North Africa (MENA) region.
With the addition of the Bukari and Umm Samra gold concessions in Egypt’s
Eastern Desert, the Company has expanded its base on which to move
forward in this underexplored part of the world.
“We have established a solid presence and are comfortable doing business in the
MENA region,” said René Galipeau, Vice-Chairman and CEO. “Our Turkish projects,
combined with the concessions in Egypt have opened up other opportunities in
this underexplored region, namely Sudan, and we will continue to look for more.”
Turkey
Two Projects Hold Tremendous Potential
for Copper Discoveries in Underexplored
MENA Region
Istanbul, Turkey
- Gold and base metal exploration and
development have been on the rise in Turkey, in step with an
increasing number of foreign investors active in the country.
Inmet Mining Corp., Eldorado Gold Corp. and Anatolia
Minerals are, along with Nuinsco, among those companies
actively evaluating and developing Turkish assets.
Source:
Terrapin,
MENA
Mining
Congress
2011
Survey
Report
4
NWI
:TSX
Nuinsco Resources Limited
•
Uranium
•
Recent results continue to support the opinion the Northern Prospector
Magazine frst expressed in November 2006 when editors named Nuinsco’s
Diabase Peninsula property as a leader in the race to fnd the next uranium
“Super Deposit” in the Athabasca Basin (see: Who’s Leading the Race for the
Next Uranium Super Deposit at http://www.nuinsco.ca/articles/TheRace_Article.
pdf). In that article, the Diabase Peninsula project was one of only two of 15
uranium projects that ranked in all seven “key criteria” used by the Northern
Prospector to determine which projects are on target for a “super deposit fnd.”
And exploration since that time has done nothing but improve the prospects
for the Diabase Peninsula property located approximately fve kilometres north
of the southern boundary of the Athabasca Basin.
The Northern Prospector identifed seven key criteria in evaluating a uranium
prospect: proximity to an existing mine, depth to basement, faults/structure,
proven graphitic conductors, alteration, zones of elevated uranium and uranium
spikes near the unconformity. Nuinsco received good marks across the board,
and was ranked frst overall in the faults/structure category. According to the
Northern Prospector: “Offset faults are a prime home for high-grade deposits.
Drill results should confrm the existence of faulting and graphite. (Cameco’s)
McArthur River deposit is tucked within a 70m offset fault similar to the
one interpreted at Nuinsco’s Diabase Peninsula Project.”
“The drilling we’ve done to date has identifed all of the right indicators–
highly-anomalous uranium, deformed graphite and sulphide-bearing basement
rocks, graphite, arsenic, cobalt, nickel, boron and clay mineralization–all found
in conjunction with uranium deposits in the Athabasca basin,” said Paul Jones,
President. “These results, along with geophysics that shows characteristics
similar to deposits such as Key Lake, Rabbit Lake, Midwest Lake and Sue,
have led the Diabase Peninsula project to be independently ranked as a
premiere exploration project in the region.”
Building on past work is a 2,321m drill program completed in December
2010 designed to follow up on past results that have returned strongly
anomalous uranium mineralization.
All fve holes in the 2010 program returned uranium values grading up
to 71 parts per million (ppm) uranium (see news release issued April 7, 2011),
continuing to indicate the potential for high-grade uranium mineralization.
“Uranium values exceeding 1ppm are accepted as being signifcant, with
values exceeding 10ppm suggesting the presence of an alteration zone and
the distinct possibility of a lens of high grade mineralization in the immediate
vicinity,” according to Mr. Jones. An additional 2,000m program in 2011 upped
the ante again, with grades peaking at 92ppm. Uranium grades exceeding
10ppm were intersected in four of the fve holes in the program
(see news release issued October 6, 2011).
Diabase Peninsula
Positive Drill Results Add to Potential for
a Deposit at Diabase Peninsula
Independently ranked as a premiere exploration project in the Athabasca Basin
La Ronge, Saskatchewan, Canada
- There were 62
nuclear reactors under construction around the world as
of September 13, 2011 in 13 countries, along with 155
on order or planned and another 351 proposed according
to the World Nuclear Association. This continuing strong
demand for nuclear energy is the impetus for Nuinsco’s
commitment to exploration in the Athabasca Basin,
a region that hosts the world’s richest uranium mines
and already supplies about 20% of the world’s uranium.
World Nuclear Power Reactors & Uranium Requirements
Nuclear Electricity
Generation
2010
billion kWh
2630 13.8
440 376,791
155 173,535
341 388,455
68,971
62 63,724
MWe net
% e
No.
MWe gross
No.
MWe gross
No.
MWe gross
tonnes U
No.
Reactors
Operable
Sept 2011
Reactors Under
Construction
Sept 2011
Reactors
Planned
Sept 2011
Reactors
Proposed
Sept 2011
Uranium
Required
2011
Sources:
Reactor data: World Nuclear Association (WNA) to 7/10/11.
International Atomic Energy Agency (IAEA) - for nuclear electricity
production & percentage of electricity (% e) 13/6/11.
WNA: Global Nuclear Fuel Market report Sept. 2011 (reference scenario)
- for U.
Operating = Connected to the grid;
Building/Construction = frst concrete for reactor poured, or major refurbishment
under way;
Planned = Approvals, funding or major commitment in place, mostly expected in
operation within 8-10 years;
Proposed = Specifc program or site proposals, expected operation mostly within
15 years.
MWe = Megawatt (electrical as distinct from thermal), kWh = kilowatt-hour.