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Nuinsco Resources Announces Assay Results Grading up to 35.5 g/t from the El Sid Gold Project
Positive Analytical Results Increase Confidence in Potential to Quickly Move to Gold Production TORONTO, ON / ACCESSWIRE / March 4, 2019 / Nuinsco Resources Lim
About this update from Nuinsco Resources Limited
[{"type":"text","content":"Positive Analytical Results Increase Confidence in Potential to Quickly Move to Gold Production TORONTO, ON / ACCESSWIRE / March 4, 2019 / Nuinsco Resources Limited (\"Nuinsco\" or the \"Company\") (CSE: NWI) today announced positive analytical results from sampling at the El Sid gold project in Egypt, with assays grading up to 35.50 g/t gold. The average grade of all 239 samples taken from the waste dump at the past-producing El Sid gold mine is 4.47g/t gold. \"These results are as expected and confirm the wide distribution of gold mineralization within waste dumps at El Sid,\" said Paul Jones, CEO. \"Given that the waste pile has already been mined, is on surface and has been partially processed, the average gold grade is very encouraging from the perspective of economic viability. The Company is in the process of evaluating gold recovery from the El Sid project using conventional, low-cost processing methods to quickly generate cash flow to provide non-dilutive funding for Nuinsco's Prairie Lake and Sunbeam projects and for the evaluation of potential new project acquisitions.\" Through its Egyptian subsidiary Z-Gold Resources Inc., Nuinsco won a competitive bid for the right to evaluate the viability of gold production from waste dumps and tailings at the past-producing El Sid mine in Egypt's Eastern Desert. Located approximately 90km west of the town of Quseir on the Red Sea coast, El Sid is easily accessible via a paved road that passes through the project site. Three past producing gold mines are located on the project – the largest of which is the El Sid Mine which operated primarily between 1947 and 1957 and was Egypt's largest gold producer. Site evaluation, processing equipment selection and metallurgy are continuing, and the Company is rapidly moving toward a production decision. If the project proves to be economically viable the timeline to gold production is short – measured in months. In addition to the 239 samples collected from the El Sid mine waste dumps for analysis, an additional 20 blank and standard samples were inserted into the sample stream for QA/QC purposes. The sampling program included the use of a backhoe to excavate trenches and pits into the waste pile in order to ascertain grades other than from the surface of the pile. The waste dump attains a maximum thickness of 15m, maximum trench depth was ...