Campbell Resources Inc (CBLRF)

[NYBob]

Important History -
Nuinsco Completes Earn-In On Corner Bay Joint Venture With Campbell Resources
High-grade copper deposit to be Nuinsco’s first producing mine, production expected in Q4 2007
Toronto, July 23, 2007 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (TSX: NWI,
www.nuinsco.ca) today announced that it has completed its earn-in from Campbell Resources Inc.
(“Campbell”) of a 50% carried interest in the high-grade Corner Bay copper deposit near
Chibougamau, Quebec. Campbell has begun development of Corner Bay, and expects mining of an
initial 42,000 tonne bulk sample at an average grade of 3.7% copper to begin early in the fourth quarter
of 2007.
“Corner Bay puts Nuinsco on the verge of having its first operating mine which will generate cash flow to
help finance our exploration programs while minimizing dilution to the shareholders,” said Nuinsco CEO
René Galipeau. “With measured and indicted resources grading near 6% copper, Corner Bay is a very
robust deposit with tremendous exploration upside at depth which should generate significant cash to
Nuinsco’s account starting next year.”
At a 3% Cu cut-off, Corner Bay has measured and indicated resources of 446,000 tonnes averaging
5.58% Cu (181,000 @ 5.07% Cu measured and 265,000 @ 5.93% Cu indicated); inferred resources total
1,441,000 tonnes averaging 6.76% Cu (Ref.: GEOSTAT Technical Report, July 2006, available on SEDAR at
www.sedar.com).
Ore from the Corner Bay deposit will be trucked approximately 45 kilometres and processed by
Campbell at its Copper Rand mill. Following the Phase I extraction of the 42,000 tonne bulk sample,
expected to be complete before the end of 2007, Phase II anticipates mining an additional 500,000
tonnes of ore grading 4.5% copper over the following three years. Corner Bay remains open at depth,
and drilling has returned intercepts grading up to 9.27% copper over 6.7 metres at 1,200 vertical metres.
Based on internal economic studies done by Campbell and Nuinsco using an average forward copper
price over the next 27 months of $3.27 per pound and a US/CAD dollar exchange rate of
.95, Phases I
and II are expected to generate $58 million net of milling charges payable to Campbell by Nuinsco and
after recovery of all development capital. An average mining rate of 450 tonnes per day is expected to
produce 14,000,000 pounds of copper annually. Production costs are expected to be $1.09 per pound
($1.75 per pound including development capital), generating cash flow to Nuinsco’s account of $29
million. Campbell is responsible for development capital, which is expected to total $14 million before
pre-production revenue credits. It should be noted that all financial and production data are internally
derived estimates which are not based on either a National Instrument 43-101-compliant reserve
estimate or an independent feasibility study, and therefore should not be relied upon.
by ppprecies3
2/3/2011 3:43:03 PM | | 28 reads | Post #29213300
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29213300&l=0&r=0&s=CBLRF&t=LIST

next post on sth:
Is this release still relavent today,Would NWI still follow these guildlines.


Phases I and II are expected to generate $58 million net of milling charges payable to Campbell by Nuinsco and
after recovery of all development capital. An average mining rate of 450 tonnes per day is expected to
produce 14,000,000 pounds of copper annually. Production costs are expected to be $1.09 per pound
($1.75 per pound including development capital), generating cash flow to Nuinsco’s account of $29
million. Campbell is responsible for development capital, which is expected to total $14 million before
pre-production revenue credits.


You don't see % numbers like this everyday & at such shallow depths

Corner Bay remains open at depth,
and drilling has returned intercepts grading up to 9.27% copper over 6.7 metres at 1,200 vertical metres.


Also I think by memory NWI had a 10% royalty above 145m not sure though