TORONTO, ONTARIO--(CCNMatthews - Nov. 29, 2005) - Nuinsco Resources Limited (TSX:NWI) announces that diamond drilling will begin in early December at its Diabase Peninsula uranium property in the Athabasca Basin, northern Saskatchewan. A permit to conduct diamond drilling has been received and a drill rig is being mobilised to the project by Major Drilling. A program consisting of a minimum of 2500m is planned. Nuinsco holds an option to earn 50% of the project from Trend Mining Company of Denver, Colorado.
Recently completed geochemical sampling has identified anomalous domains consisting of boulder clay alteration and trace element anomalies including chlorite, illite, dravite, lead, arsenic and yttrium. Alteration of this type occurs near unconformity uranium mineralization in the eastern Athabasca Basin. The geochemical anomalies are coincident with strong, continuous, ground TEM geophysical anomalies (reported previously, 11 May 2005). The combined, anomalous, geophysical and geochemical trends presently define a five kilometre domain at the centre of the Diabase Peninsula claim group. This trend is coincident with a 35 km long EM anomaly that extends the full length of the property from north to south. Combined they provide compelling drill targets at Diabase Peninsula. Both geophysical and geochemical consultants recommend diamond drilling of the anomalous trends as part of continued exploration on the project.
Brian Robertson, President, said. "The Diabase Peninsula uranium property is a high priority project for Nuinsco in view of the recently received geochemical and geophysical results."
The 19,000ha Diabase Peninsula Property encompasses coincident, highly prospective, alteration and geophysical signatures indicative of possible uranium mineralization. Located on the western shore of Cree Lake approximately five kilometres north of the southern boundary of the Athabasca Basin, the Diabase Peninsula Property overlies the graphite-bearing Cable Bay Shear Zone - this structure is considered to be an important potential host for uranium mineralization in this part of the Athabasca Basin.
The project is being supervised by P.L.Jones, V.P. Exploration for Nuinsco, who acts as QP under National Instrument 43-101.
Nuinsco is an exploration and development company with a uranium property in Saskatchewan, nickel projects in Manitoba and Quebec, and base metal projects in Ontario and Turkey. Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI. U.S.S.E.C. exemption: 12g 3-2(b) #82-1846. The website address is www.nuinsco.ca.
FORWARD LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding future plans and objectives of are forward-looking statements that involve various risks and uncertainties.
FOR FURTHER INFORMATION PLEASE CONTACT:
Nuinsco Resources
Warren Holmes
CEO
(416) 626-0470
Nuinsco Resources
Brian Robertson
President
(416) 626-0470
admin@nuinsco.ca
The Windward Agency
Kelly Boatright
(704) 588-8600/Toll Free: 866-583-6300
kboatright@windwardagency.com
