Nuinsco Begins Drilling at Diabase Peninsula Uranium Project
Program follows up on positive results from previous work
Toronto, November 10, 2010 – Nuinsco Resources Limited (TSX:NWI, www.nuinsco.ca) today announced
that drilling has begun at its Diabase Peninsula uranium project in the Athabasca Basin of northern
Saskatchewan. The minimum 2,000 metre program will follow up on past results that have returned
strongly anomalous uranium mineralization, peaking at 0.07% uranium (0.083% U3O8), and other key
elements indicative of a uranium mineralizing event common to deposits in the Athabasca basin.
“The drilling we’ve done to date has identified 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.”
The program will comprise a series of drill holes of 400m – 500m in depth to be drilled near the core of
the property where numerous factors point to the possibility of a nearby uranium deposit. The holes are
designed to test for alteration and mineralization (uranium and other indicator elements) in the rocks
above, at and below the unconformity at the base of the Athabasca Basin (the prime target area for
uranium deposits). These holes will be collared near to other drill holes in which geochemical,
mineralogical and structural features often associated with, or indicative of, a uranium mineralizing
event, have been identified.
Exploration work on the 21,900 hectare Diabase Peninsula Project, located approximately five kilometres
north of the southern boundary of the Athabasca Basin, has included 28 widely-spaced drill holes
totalling 11,205 metres, airborne and ground geophysical surveys, geochemical surveys and mapping.
Nuinsco is the operator, currently owns an approximate 82% interest in the property and is partnered
with Trend Mining Company of Hilton Head, SC (OTC: TRDM.pk). Paul Jones, President of Nuinsco, who
acts as a QP for the project under National Instrument 43-101, has read and approved the contents of
this press release.
As previously reported, notable results include:
1) The combination of uranium-arsenic-nickel-cobalt-magnesium oxide, which typifies several of
the mines in the Athabasca district, was present in drill holes and indicates the influence of a
mineralizing system in the area – pointing to the presence of some form of unconformity
mineralization nearby.
2) The widespread presence of significant clay alteration in the sandstone which indicates the
passage of hydrothermal fluids capable of transporting uranium mineralization.
3) Uranium/lead ratios which provide evidence of local excess uranium in the sedimentary pile and
suggest upward leakage of uranium-bearing hydrothermal fluid into the sediments.
4) The presence, established by more than 100m vertical displacement of the unconformity
occurring between adjacent drill holes, of reactivated faults which are prime exploration targets
as they provide permeable conduits for the concentration of uranium-bearing mineralizing fluids.
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About Nuinsco Resources Limited
Nuinsco is a growth-oriented, multi-commodity mineral exploration and development company that is
focused on gold, rare metals, uranium, copper and zinc exploration in world-class mineralized belts in
Canada, Turkey and Egypt. In addition to its property holdings, Nuinsco owns common shares in Gold
Hawk Resources Inc. (TSXV:GHK), Coventry Resources Limited (ASX:CVY) and Victory Nickel Inc. (TSX:NI).
Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.
Nuinsco Resources
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