Nuinsco’s Mineralogical Analysis at Prairie Lake Shows High Concentrations of Rare Earth Elements

TORONTO, ON / ACCESSWIRE / June 6, 2019 / Nuinsco Resources Limited ("Nuinsco" or "the Company") (CSE: NWI) today reported on the results of mineralogical analysis at its 100%-owned Prairie Lake project, which shows unusually high concentrations of rare earth elements ("REEs"), in particular neodymium, an element vital to the manufacture of numerous high-tech products.

"Amongst the REEs, neodymium ("Nd") is particularly valued because of the critical importance of Nd-based permanent magnets in the manufacture of a range of new technological products including the high-performance electric motors and generators used in, for example, hybrid-electric vehicles and megawatt-scale wind turbines," said Paul Jones, CEO. "However Nd is but one of the high-value minerals at Prairie Lake. The Company has been working to develop a more thorough understanding of the mineralization - REEs, niobium ("Nb"), tantalum ("Ta") and phosphate ("P2O5") - present in the host carbonatite and ijolite rocks that comprise the bulk of the Prairie Lake carbonatite complex. Given the current concerns about the security of REE supply, the presence of widespread REE mineralization in a project such as Prairie Lake, that has an outstanding location and logistical advantages within a politically stable jurisdiction, is of considerable importance."

Demand for REEs as well as niobium, tantalum and phosphate is projected to continue to rise as their use in a host of applications in the automotive, high-tech, clean-energy, telecommunication and global agriculture industries expands.

The results of extensive electron microprobe mineralogical analysis (conducted at the Department of Earth Sciences Carleton University (Ottawa)) of apatite from Prairie Lake phosphate-apatite mineralization indicate that this mineral contains unusually high concentrations of REEs, and in particular neodymium oxide (Nd2O3), with mean values of 1.54% (13,157 ppm) total REEs and 0.33% (2829 ppm) Nd2O3 respectively. Apatite has been successfully concentrated in metallurgical testing, at COREM in Quebec City, with the resulting concentrate returning grades of greater than 30% P2O5 (a very significant result as a stand-alone phosphate product with agricultural applications). The REE (and Nd2O3)-rich character of Prairie Lake apatite indicates that there is excellent potential for future concentrates to return by-product neodymium. This potential is supported by the results of the COREM apatite concentrate, which returned an Nd2O3 grade of 0.22%. When considered in the context of the sheer size of the Prairie Lake exploration target ("ET" - see table and disclosure below), the implications for the recovery of by-product neodymium from any concentrate produced from the project is important.

The Prairie Lake project consists of nine mineral claims covering an area of 608 ha. Logistically Prairie Lake is superbly located, with ready access to power, road, rail and shipping infrastructure; it is easily accessed by an all-weather road from the TransCanada Highway 28 kilometres to the south. The mineralization identified is entirely contained within the Prairie Lake carbonatite complex, presently an ET of 515-630 million tonnes defined by 46 diamond drill holes with grades as tabulated below.

Prairie Lake ET¹:

¹ The potential quantity and grade of the ET 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. There is no National Instrument 43-101 - Standards of Disclosure for Mineral Projects preliminary economic assessment in respect of the Prairie Lake ET.

P.L. Jones, P. Geol., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this press release regarding the Prairie Lake project.

About Nuinsco Resources Limited

Nuinsco Resources has over 45 years of exploration suc­cess and is a growth oriented, multi-commodity mineral explora­tion and development company focused on prospective oppor­tunities in Canada and internationally. Currently the Company has two properties in Ontario - the high-grade Sunbeam gold prospect near Atikokan and the large, multi-commodity (rare-earths, niobi­um, tantalum, phosphorus) Prairie Lake project near Terrace Bay. In addition, Nuinsco has recently completed an agreement for gold exploitation at the El Sid project in the Eastern Desert of Egypt - a project with the potential to provide near-term revenue.

Forward-Looking Statements

This news release contains certain "forward-looking statements." All statements, other than statements of historic fact, that address activities, events or developments that Nuinsco believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate, "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Nuinsco based on information currently available to Nuinsco. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Nuinsco to differ materially from those discussed in the forward-looking statements, 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 Nuinsco. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world commodities markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain tenure to properties and/or necessary permits and approvals, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Nuinsco disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Nuinsco believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE: Nuinsco Resources Limited