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Nuinsco Resources Ltd.
Summary
| Project: | Prairie Lake | |
|---|---|---|
| Deposit: | Prairie Lake | |
| Location: | Canada | |
| Commodities: | Rare Earth-Uranium-Tantalum | |
| Date: | 11/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-11-2018: Nuinsco Resources Ltd. announces a Resource Estimation report for its Prairie Lake deposit at the Prairie Lake project. Exploration target for Prairie Lake. This Technical Report was prepared at the request of Paul Jones, C.E.O, of Nuinsco Res | |
| Resources: | ||
| CP/QP: | [Resources]: Eugene Puritch, Antoine Yassa (P&E Mining Consultants Inc.) | |
| ABSTRACT: | This Technical Report was prepared at the request of Paul Jones, C.E.O, of Nuinsco Resources Limited (“Nuinsco”). Nuinsco is a Canadian based publicly held company. The purpose of this Report is to provide an independent, NI 43-101 compliant Technical Report (the “Report”) that includes a conceptual Exploration Target (“ET”) estimate on the Prairie Lake Property, located in the Thunder Bay Mining Division, Ontario, Canada (the “Property”). The Prairie Lake Property is located approximately 44 km northwest of Marathon and 38 km northeast of Terrace Bay in the Thunder Bay Mining Division. Both towns are serviced by the Canadian Pacific Railway. A system of maintained logging roads and rehabilitated logging skid trails provides access to the Property from the Trans-Canada Highway. The Property consists of 46 mineral claims (9 pre-conversion claims), owned 100% by Nuinsco, totalling 630 ha that covers the Prairie Lake Carbonatite Complex. The claims are in good standing as of the effective date of this Technical Report. Nuinsco purchased eight of the claims from Stares Contracting Corporation (“Stares Contracting”) in 2001 and staked the ninth claim also in 2001. In January 2012, Nuinsco purchased a Production Royalty on the Property from Stares Contracting for 3,157,894 common shares of Nuinsco. Previous exploration on the Property has focused on uranium, niobium, phosphorus (apatite) and wollastonite and to a lesser extent tantalum and rare earth elements (“REE”), depending on the economics of the time. Drilling, geophysical surveys and exploration occurred on the Property between 1968 and 1983 with the last owner, Nuinsco, allowing the Property to lapse in 1983 until 2001 when it reacquired the Property from Stares Contracting. The Property is located within the Archean Superior Province. The Prairie Lake Carbonatite Complex was emplaced into biotite-quartz-feldspar paragneiss country rocks of the continental shield within the Trans-Superior Tectonic Zone (“TSTZ”), which hosts other alkalic complexes in the area. The geology of the complex can be simply described as an oval, subvertical, cylindrical shape that has an ijolite core surrounded by a rim of mixed carbonate, silicocarbonate and other calcite rocks. However, the relationship between the ijolite and carbonatite rock types is more complex with irregular and complexly interfingered bands. A significant band of carbonate rock wraps inwards from the northwestern periphery of the intrusion towards the centre of the complex. The two principle lithologies within the Prairie Lake Carbonatite Complex, ijolite and carbonatite, have been intruded by numerous subordinate dykes and sills. | |
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