QUEBEC CITY, CANADA, Jan. 11, 2011 (Marketwire) --
NEMASKA EXPLORATION INC. ("Nemaska" or the "Corporation") is pleased to provide an update on the on-going exploration program at its 100% owned Whabouchi property (about 1,716 hectares) that is located in the James Bay Region of Quebec.
To date, the Company has drilled 23 holes or 4,200 metres at Whabouchi. Mineralized zones were intersected where expected during the drilling thus far. The objectives of this diamond drill program are to obtain a representative sample across the deposit to be used in pilot plant metallurgical testing planned for winter 2011 and to update the initial resource estimate published on July 14, 2010 by SGS Geostat. Drilling was halted for the holiday break and resumed early last week. The Company expects to complete the drilling in early March with 48 holes planned for a total of 10,000 metres.
"Drilling is progressing rapidly at Whabouchi and we will be providing the market with drill results on a regular basis over the next few months," commented Guy Bourassa, President and CEO of Nemaska Exploration. "We are also expecting the results from our Preliminary Economic Assessment to be out in the next few weeks. This is the first step in moving the project toward feasibility."
The technical sections of this press release have been prepared by Yvan Bussieres, P. Eng. qualified person as defined in National instrument 43-101.
Nemaska Exploration Inc. is a mineral exploration company involved in the James Bay region of Quebec. Its main assets are the Whabouchi (about 1,716 hectares), Lac Levac (about 9,200 hectares), Lac Arques (about 39,470 hectares), and Lac des Montagnes (about 12,740 hectares) properties, all 100 % owned. These properties are contiguous and cover about 85 km of the Lac des Montagnes green belt polymetallic formation. They are easily accessible year round by either the Route du Nord from Chibougamau (280 km) or the Route de la Baie James from Matagami (380 km) and are located near the Cree community of Nemaska and the Nemiscau airport.
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Nemaska Exploration Inc.