TORONTO, ONTARIO, Oct 26, 2011 (MARKETWIRE via COMTEX) -- Nuinsco Resources Limited ("Nuinsco") CA:NWI -5.26% ( www.nuinsco.ca ) today announced that the Updated Exploration Target Mineralization Inventory ("ETMI") at its easily accessible, Prairie Lake rare metals project in northwestern Ontario has been increased to 515-630 million tonnes grading between 0.09-0.11% niobium (0.9 to 1.1 kg/tonne) and 3.0-4.0% phosphorus (1.2 to 1.4 kg/tonne), making it one of the largest deposits of its kind in the world.
"The ETMI increase places Prairie Lake well within the ranks of the ten largest carbonatite-hosted niobium deposits in the world, and in North America it is second only to the Iron Hill Project in Colorado owned by Colorado Rare Earths Inc., in contained tonnes (the average grade at Prairie Lake is however greater)," said Paul Jones, President. "The increase follows from the incorporation into the ETMI of the drill and trench results obtained from the 2010 work program that returned widespread and extensive niobium (Nb2O5) and phosphorus (P2O5) analyses."
The significant size of the ETMI at Prairie Lake, its location near existing infrastructure and transportation networks, the relative ease with which it could be exploited from surface using quarry methods and the continuing potential for expansion of the ETMI, all point to Prairie Lake being an undervalued asset within Nuinsco's property portfolio. In addition to niobium and phosphorus, the suite of minerals of significant economic potential also includes tantalum (Ta), uranium (U3O8) and rare earth elements (REE) (including lanthanum (La), cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y)), as follows:
