TORONTO, ONTARIO--(CCNMatthews - Oct. 10, 2006) - Nuinsco Resources Limited ("Nuinsco") (TSX:NWI) (www.nuinsco.ca) today announced that diamond drilling will begin shortly on the Berta copper property in northeastern Turkey. Past work confirmed that Berta hosts one of the region's largest porphyry copper alteration anomalies, and recent airborne geophysics confirmed highly prospective drill targets.
"Previous geochemical sampling and limited diamond drilling at Berta identified a porphyry copper system of enormous scope within a geological belt that hosts some of the world's largest mineral deposits," said Paul Jones, Vice-President, Exploration. "The upcoming drill program will build on these past results and those generated from the first ever airborne and electromagnetic survey conducted over the property in July."
The state-of-the-art Geotech airborne magnetic and VTEM electromagnetic survey was the first such survey flown over the area, and identified broad conductive domains in the centre and north of the Berta mineralized system that occur in conjunction with anomalous copper and gold mineralization from earlier soil sampling. Combined they provide ample reason to drill test these areas.
The Berta property is located approximately 50 kilometres south of the Black Sea in northeastern Turkey, within the prolifically mineralized Tethyan-Eurasian Metalogenic Belt which hosts numerous ore deposits in several countries including Iran's Sar Cheshmeh Mine, one of the world's largest copper mines at 1.2 billion tonnes grading about 1% copper. The Berta porphyry is reputed to be the largest copper anomaly in the Turkish Pontides, covering 15 square kilometres and 1,000 metres of vertical elevation.
The previously drilled, widely-spaced, shallow holes encountered consistently strong anomalous copper geochemistry and confirmed the subsurface extension of the widespread copper anomalies at surface. As well, impressive stockworks of sulphide mineralised veins were intersected throughout the length of the drill holes indicating the presence of an extensive and strong mineralising system. The relative abundance of copper, zinc and lead mineralization, the distribution of alteration and the rock types encountered in the previous short drill holes all suggest the 2005 drilling tested the upper, outer edges of a porphyry system. Two 700 metre drill holes (angled at approximately 50 degrees) are planned to test the Berta porphyry to a vertical depth of 600 metres in two locations nearly 3 kilometres apart.
P.L. Jones, V.P. Exploration, acts as Nuinsco's Qualified Person under National Instrument 43-101. Nuinsco began exploration at Berta late in 2004 under a joint venture agreement with Noranda Inc., now Xstrata Copper, and became fully vested with 50% of the project during 2005.
About Nuinsco Resources
Nuinsco is a growth-oriented, multi-commodity mineral exploration and development company that is prepared for production and focused on growth through nickel, copper, zinc, uranium and gold exploration and development in world-class mineralized belts in Canada and Turkey. Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements". All statements, other than statements of historical 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 copper and/or gold 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 necessary permits and approvals from government authorities, 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.
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