TORONTO, ONTARIO--(Marketwire - April 26, 2012) - Nuinsco Resources Limited ("Nuinsco" or "the Company") (News - Market indicators) (www.nuinsco.ca) today announced that the Company and its joint venture partner Xstrata Copper Canada (Xstrata) will undertake a 7,500 metre diamond drilling program this year at the Berta copper project in northeastern Turkey.
Two diamond drills will be used to conduct the drill program which will comprise up to nine holes ranging from 800m to 1000m in length focussed on high-priority copper in soil anomalies, overlying the central part of the Berta porphyry system. This program will expand drill coverage on the project to areas not previously drilled. Drilling is expected to begin by early June. Previous drill results demonstrate the extensive nature of anomalous copper mineralization in the rocks at Berta, highlighted by the results of DDH SD-07-08 which intersected 710.9m grading 0.28% copper and 0.07g/t gold between 3.80m and 714.7m (see press release dated Apr. 25, 2007) and DDH SD-08-10 which returned 164.0m grading 0.20% copper and 0.06g/t gold between 250.5m and 414.5m (see press release dated Oct. 20, 2008).
"Berta is a very exciting project with exceptional exploration potential from which we've seen outstanding results," said Paul Jones, President. "We're very pleased that Xstrata is committing to test the bedrock geology underlying the strongest domain of copper enrichment in soils identified in what is reputed to be the largest copper anomaly in the Turkish Pontides."
The Berta copper project is undertaken pursuant to a joint venture, of which Xstrata is the operator. 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 Sarcheshmeh Mine, one of the world's largest copper mines at 1.2 billion tonnes grading about 1% copper. Paul Jones, President, acts as Nuinsco's Qualified Person under National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
About Nuinsco Resources Limited
Nuinsco is a growth-oriented, multi-commodity mineral exploration company that is focused on world- class mineralized belts in Canada and internationally when attractive opportunities arise. In addition to its property holdings, Nuinsco owns common shares in Coventry Resources Limited (ASX:CVY) and Victory Nickel Inc. (TSX:NI). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI. All exploration work is supervised by Paul Jones, P.Geo, President, who acts as Nuinsco's Qualified Person under National Instrument 43-101.
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Forward-Looking Information: This news release contains forward-looking information. All statements, other than statements of historic fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information including the expected use of proceeds. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, 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 the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; the possibility that actual circumstances will differ from estimates and assumptions; uncertainties relating to the availability and costs of financing needed in the future; failure to establish estimated mineral resources; fluctuations in commodity prices and currency exchange rates; inflation; recoveries being less than those indicated by the testwork carried out to date (there can be no assurance that recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production); changes in equity markets; operating performance of facilities; environmental and safety risks; delays in obtaining or failure to obtain necessary permits and approvals from government authorities; unavailability of plant, equipment or labour; inability to retain key management and personnel; changes to regulations or policies affecting the Company's activities; the uncertainties involved in interpreting geological data; and the other risks disclosed under the heading "Risks and Uncertainties" and elsewhere in the Company's annual information form dated March 31, 2011 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.