Prairie Lake Concentrate Demonstrates Excellent Marketability Characteristics Concentrate of Greater Than 30% P2O5 With Accep...
June 18 2012 - 3:46PM
Marketwired Canada
Nuinsco Resources Limited ("Nuinsco") (TSX:NWI) (www.nuinsco.ca) today reported
additional excellent results from the metallurgical testing program from its
100%-owned Prairie Lake phosphorus - rare metals project in northwestern
Ontario.
"These most recent results clearly show that Prairie Lake rock is amenable to
conventional processing and concentration," said Paul Jones, President. "The
tests confirm the potential to produce a marketable product by meeting and
exceeding most published specifications for phosphate concentrates and most
importantly demonstrating that a concentrate grading greater than 30% P2O5 with
magnesium oxide (MgO) content less than 1%, and calcium oxide ratio CaO/P2O5
less than or equal to 1.6(1) is attainable. These are important thresholds to
viability, and our next step is to hold discussions with potential end-users and
partners."
The most recent results were produced from a series of tests conducted on a
1,000kg sample grading 3.18% P2O5 (and 0.13% Nb2O5) with a specific gravity of
2.99 g/cc and a bulk density of 1.59 g/cc (after crushing to -1.7mm). Apatite is
the phosphorus-bearing mineral in a rock that also contains calcite, dolomite,
biotite, magnetite and rutile. The apatite contains on average 43.1% P2O5 and
occurs in the form of clear, well-formed crystals up to 250 um in size. The
primary use of apatite is in the manufacture of fertilizer and the fact that
this mineral can be liberated by conventional methods is a further indication
that a viable phosphorus concentrate can be produced that would be marketable to
the fertilizer industry.
Selected results from the Prairie Lake tests are tabulated below and are
compared to published specifications of the Bureau of Indian Standards (a
division of the Government of India's Ministry of Consumer Affairs, Food &
Public Distribution) for phosphate concentrates Type I and II. Test 35 from the
Prairie Lake program produced the best overall concentrate to date with a P2O5
content of 30.6%; along with an SiO2 content of 1.37%, F content of 0.62%, MgO
content of 0.7%, Cl content of 0.012% and Al2O3+ Fe2O3 of 0.65%. Selected size
ranges from Test 35 produced even higher P2O5 concentrations with less than
150um to greater than 106um and less than 106um to greater than 75um attaining
contents of 38% and 38.1% P2O5 respectively, while Test 27 attained 34.4% P2O5
with the use of an HCl acid leach to remove carbonate.
----------------------------------------------------------------------------
Bureau of
Indian
Standards
(BIS) - IS:
11224-1985, Test
reaffirmed 35 Test 35 Test 35 Test 27 Con.
2003 Type I Type II Con. Con. Con. after Leach
----------------------------------------------------------------------------
-150+106um -106+75um
----------------------------------------------------------------------------
Total greater greater 30.6 38 38.1 34.4
phosphate than or than or
(P2O5) % by equal to equal to
mass 30 32
----------------------------------------------------------------------------
Silica less less 1.37 1.12 1.2 5
(SiO2) % by than or than or
mass equal to equal to
10 5
----------------------------------------------------------------------------
Fluoride (F) less less 0.62 0.72 0.83 Insufficient
% by mass than or than or sample
equal to equal to
2 4
----------------------------------------------------------------------------
Mixed less less 0.65 0.44 0.48 2.99
aluminum than or than or
and iron equal to equal to
oxide 3 3.5
(Al2O3 and
Fe2O3) % by
mass
----------------------------------------------------------------------------
Magnesium less less 0.7 0.32 0.39 2.26
oxide (MgO) than or than or
% by mass equal to equal to
0.5 0.5
----------------------------------------------------------------------------
Chloride less less 0.012 0.033 0.009 0.043
(Cl) % by than or than or
mass equal to equal to
0.015 0.05
----------------------------------------------------------------------------
The results continue to indicate the ability to improve both concentrate grade
and recovery.
The apatite concentrates were produced during initial metallurgical testing at
COREM in Quebec City of a 1,000kg sample submitted in September 2011.
Prairie Lake is one of the largest deposits of its type in the world. Not only
does it have tremendous scale (refer below), but its proximity to existing
infrastructure and transportation networks, the relative ease with which it
could be exploited from surface using quarry methods, the continuing potential
for expansion of the known mineralization, and now favourable phosphorus
metallurgy all point to Prairie Lake being a very valuable asset within
Nuinsco's property portfolio.
About Prairie Lake
Located about 45 kilometres northwest of Marathon, Ontario, Nuinsco's Prairie
Lake property covers the entire 2.8 km2 (at surface) Prairie Lake Carbonatite
Complex and is easily accessible from the TransCanada Highway. In January, 2012,
Nuinsco bought back a 2% production royalty making the property royalty-free.
The NI-43-101-compliant Exploration Target Mineralization is 515-630 million
tonnes grading between 0.09-0.11% niobium (Nb2O5) (0.9 to 1.1 kg/tonne) and
3.0-4.0% P2O5 if this were confirmed as a resource, it would make Prairie Lake
one of the world's ten largest carbonatite hosted niobium deposits as well as a
significant phosphorus resource. The current metallurgical work establishes the
project as a substantial, recoverable, phosphorus inventory. The suite of
minerals of potentially economic significance also includes tantalum (Ta),
uranium (U) and rare earth elements (REE) (including lanthanum (La), cerium
(Ce), samarium (Sm), neodymium (Nd) and yttrium (Y)). A current economic
analysis has not been completed and economic viability has not been established.
The Exploration Target Mineralization was undertaken by Eugene Puritch, P.Eng.
and Antoine Yassa, P.Geo of P&E Mining Consultants Inc. of Brampton, Ontario.
All exploration work is supervised by Paul Jones, P.Geo, President and Laura
Giroux, P.Geo, Senior Geologist, who act as Nuinsco's Qualified Persons under
National Instrument 43-101. Mr. Jones and Ms. Giroux have reviewed and approved
the technical contents of this news release. The potential quantity and grade of
the ETMI is conceptual in nature and there has been insufficient exploration to
define a mineral resource. It is uncertain if further exploration will result in
the discovery of a mineral resource.
About Nuinsco Resources Limited
Nuinsco is a growth-oriented, multi-commodity mineral exploration and
development company that is focused on uranium, copper, zinc and gold
exploration and development in 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.
Annual and Special Meeting
As a reminder, the Company's Annual and Special Meeting for Shareholders ("ASM")
will take place today, Monday, June 18, 2012, at 4:00 p.m. Toronto Time at the
Toronto Board of Trade, 1 First Canadian Place, Toronto, Ontario. The ASM will
be webcast and can be accessed at http://www.gowebcasting.com/3408 and through
Nuinsco's website at www.nuinsco.ca.
(1) Sis, H. and S. Chander, 2003. Reagents used in the flotation of phosphorus
ores; A critical review. In Minerals Engineering, v.16, pp577-585
Please visit the Company's website at www.nuinsco.ca. Should you wish to receive
Company news via email, please email juliet@chfir.com and specify "Nuinsco
Resources" in the subject line.
Forward-Looking Information: This news release contains forward-looking
information. All statements, other than statements of historic 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 including the expected use of proceeds. This forward-looking
information reflects the current expectations or beliefs of the Company based on
information currently available to the Company. Forward-looking information is
subject to a number of risks and uncertainties that may cause the actual results
of the Company to differ materially from those discussed in the forward-looking
information, 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 the Company. Factors that could cause actual
results or events to differ materially from current expectations include, among
other things: uncertainty of estimates of capital and operating costs,
production estimates and estimated economic return; the possibility that actual
circumstances will differ from estimates and assumptions; uncertainties relating
to the availability and costs of financing needed in the future; failure to
establish estimated mineral resources; fluctuations in commodity prices and
currency exchange rates; inflation; recoveries being less than those indicated
by the testwork carried out to date (there can be no assurance that recoveries
in small scale laboratory tests will be duplicated in large tests under on-site
conditions or during production); changes in equity markets; operating
performance of facilities; environmental and safety risks; delays in obtaining
or failure to obtain necessary permits and approvals from government
authorities; unavailability of plant, equipment or labour; inability to retain
key management and personnel; changes to regulations or policies affecting the
Company's activities; the uncertainties involved in interpreting geological
data; and the other risks disclosed under the heading "Risks and Uncertainties"
and elsewhere in the Company's annual information form dated March 30, 2012
filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of
the date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to update any
forward looking information, whether as a result of new information, future
events or results or otherwise. Although the Company believes that the
assumptions inherent in the forward-looking information are reasonable,
forward-looking information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information due to the
inherent uncertainty therein.
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