Read Report - Nuinsco Resources Limited

8
2005 ANNUAL REPORT
option, Nuinsco is required to spend US$250,000
in exploration and commit to 1,000 metres of
diamond drilling by December 31, 2006.
Elmalaan has excellent potential for discovery
of volcanogenic massive sulphide (VMS)
mineralization. Limited historic work has
identified several areas with massive sulphide
in outcrop and locally derived boulders that
returned spectacular assays, peaking at 30.80%
copper and 56.30% zinc. Recently completed
sampling by Nuinsco returned equally
impressive results.
BERTA COPPER-GOLD PROPERTY
program are planned to follow up on 2005s sixhole
drill program which confirmed the presence
of a large porphyry system. Three drill holes
were collared in the central portion of the
extensive copper anomaly to determine the
style and intensity of copper mineralization.
Anomalous copper was present throughout
the length of the holes within rock displaying
extensive stockwork veining, quartz-sericitepyrite
alteration and remnant potassic alteration.
In the northern portion of the project area, three
shallow drill holes were collared to test a two
kilometre long east-west gold-in-soil anomaly.
While one hole was stopped short in a fault zone,
the other two were completed to 125 and 105
metres. Within a domain of anomalous zinc and
copper, fracture-filling quartz veins provide
locally elevated gold values. The gold is
apparently fracture controlled and associated
with sulphide mineralization hosting elevated
copper, zinc and lead values over narrow widths.
ELMALAAN COPPER-ZINC
In December 2005, Nuinsco announced that it
had signed a Letter of Intent with Falconbridge
to acquire 100% of the Elmalaan copper-zinc
property in northeastern Turkey. Under the
Like Berta, Elmalaan occurs in the Pontide
Mountains Metallogenic Belt that is well
endowed with VMS mineralization. Significant
deposits include Inmet Mining Corp.’s Çayeli
copper-gold-zinc mine and Cerattepe goldcopper
deposit, as well as the Murgul copper
mine and Madenköy copper deposit.
Alteration is very strong and well defined,
demonstrating that the host rock has been
affected by fluids capable of depositing sulphide
mineralization. In particular, a cherty horizon
that caps known sulphide mineralization
displays abundant indications of a strong VMS
system – high copper, zinc, lead, gold, silver
and low magnesium titanium and aluminum.
MINAGO – NICKEL
Located in Manitoba’s world-class Thompson
Nickel Belt, Nuinsco’s 100% owned Minago
Deposit represents a significant nickel resource
and substantial property asset.
The project has superb infrastructure – a paved
highway and power line cross the property,
while a rail line links the port of Churchill
60 kilometres to the north. With a NI 43-101-
compliant measured and indicated resource
estimate totallng 28.9 million tonnes grading
0.64% nickel and 27.2 million tonnes grading
0.67% nickel in the inferred category, Minago
has the potential to host a large, open pit
mining operation.
NUINSCO’S CURRENT PROJECTS