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Nuinsco Resources Investigates High-Grade Niobium Target Areas at Prairie Lake Critical Minerals Project
Toronto - TheNewswire - October 24, 2023 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE:NWI) today announced initial results of a review of high-
About this update from Nuinsco Resources Limited
[{"type":"text","content":"Toronto - TheNewswire - October 24, 2023 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE:NWI) today announced initial results of a review of high-grade niobium target areas at its Prairie Lake Critical Minerals and phosphate project located near Terrace Bay, Ontario (“Prairie Lake” or the “Project”). Niobium is viewed as a potential by-product or co-product to the phosphate and rare earth element mineralization occurring at the Project. The principal application of niobium is as an additive, in small quantities, to steel where it imparts strength resulting in reduced weight; significantly in the case of automobiles this leads to reduced carbon emissions. The current review is examining the large analytical inventory available to the Company from its historic and current exploration and evaluation activities. Work programs commissioned by the Company have produced a database containing 7,437 geochemical analyses from trenches and diamond drill holes, comprising a total of 10.5 kilometres of sampling in the richly endowed rocks of the Project. In total 9.5% of the samples from drill holes and trenches have assayed greater than 0.25% Nb2O5, with analyses peaking at 1.013% Nb2O5. Niobium grades of 0.25% are distinctly anomalous and point to the potential to define domains of elevated grade within the Project. At present the bulk of the anomalous analyses are concentrated in the southwest part of the Prairie Lake Complex in a domain more than 500m in length and tens of metres wide, but higher-grade niobium occurs elsewhere as well. The lack of sampling over large areas of the Complex provides ample opportunity for additional success in identifying niobium mineralization in addition to the Project’s extraordinary phosphate and rare earth element endowment. Niobium has a wealth of industrial uses with few or no substitutes; demand is anticipated to increase significantly in the coming years. About 90% of niobium is used to meet demand for steel making where it increases strength and reduces weight in such applications as structural steel in buildings, oil and gas pipelines, automobile manufacture, ships hulls, and railway tracks. Since less steel is needed to achieve the same result in an application carbon emissions and environmental impact are significantly reduced. It is...