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Nuinsco Resources Evaluates Starter Pit MRE Sensitivity at Prairie Lake Critical Minerals Project with Significant Tonnage and Substantially Higher Grade P2O5 and REE
Highlights: High-grade phosphate mineralization identified and quantified, as announced June 25, 2024. 5% P cut-off grade leads to 74% higher phosphate (“) grad
About this update from Nuinsco Resources Limited
[{"type":"text","content":"Highlights: High-grade phosphate mineralization identified and quantified, as announced June 25, 2024. 5% P cut-off grade leads to 74% higher phosphate (“) grade and corresponding increase in grade of high-value neodymium (“Nd”) and praseodymium (“Pr”) rare earth elements (“REE”) than previously reported. cut-off of 5% selected as a potential starter pit option for future engineering study. Toronto, August 13, 2024 – TheNewswire – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE: NWI, FRA: NJX) today announced that recent review and sensitivity analysis of high grade P2O5 and REE mineralization at the Prairie Lake Critical Minerals Project (“Prairie Lake” or the “Project”) has established substantially higher P2O5 and REE grades than previously reported, which may have great significance to the development of the Project. “The ongoing evaluation of Critical Minerals mineralization at Prairie Lake, using a 5% P2O5 cut-off grade, has led to a 65 million tonne Inferred Mineral Resource sensitivity grading 5.9% P2O5 and a 1.2 million tonne Indicated Mineral Resource sensitivity grading 5.8% P2O5 within the existing, nearly 900 million tonne Mineral Resource Estimate (“MRE”),” said Paul Jones, Nuinsco’s CEO. “This represents a near 74% increase in P2O5 grade, 41% increase in neodymium grade and a 6% increase in Praseodymium grade over the 2022 MRE, all other parameters remaining equal. The delineation of these higher-grade phosphate and REE mineralization will allow greater leeway in planning and development – for instance development of a starter pit. The higher-grade Mineral Resource sensitivity is defined by existing drill hole configuration and, while already substantial, we are confident that additional work can expand the size of the MRE further. The Prairie Lake Project is a large and vitally significant Critical Minerals asset located in the heart of North America, readily accessible to existing transportation and logistics networks making it strategically significant to a secure supply chain.” The P2O5 % cut-off in the 2022 MRE was 2% for Indicated and Inferred Mineral Resources; the 5% P2O5 cut-off sensitivity was chosen as a potential starter pit option for a future engineering study. The Identification of high-grade apatite/phosphate mineralization in diamond drill holes (news...