NEVADO Assays More Significant Grades From the Sixth New Occurrence at 63.5% Iron From the La Blache Property (Quebec)
December 09 2010 - 4:30AM
Marketwired Canada
NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or
"NEVADO") is pleased to report new Iron, Titanium and Vanadium assay results
from recently discovered massive and disseminated magnetite-ilmenite lenses
found during the summer-fall 2010 exploration program on the Company's
wholly-owned La Blache Iron-Titanium-Vanadium Property (the "Property") (refer
to the NEVADO news release dated November 10, 2010).
The sixth occurrence, termed the Farrell-Taylor Occurrence (at Km 3), occurs
only 3 kilometres east of the initial Hervieux East Extension Occurrence at Km 3
(in a clockwise direction) along the 45 kilometres ellipse or La Blache Ring of
Iron-Titanium-Vanadium. The occurrence consists of a minimum 25 metres long and
5 metres wide magnetite-ilmenite lens. The surface grab sample yielded 63.5%
Iron (expressed as Iron Oxide or Fe2O3), 18.7% Titanium (TiO2) and 0.10%
Vanadium (V2O5). The grades of the magnetite-ilmenite surface channel and grab
samples are comparable to the previous surface sample assays of the new
occurrences at Hervieux East Extension, Hervieux North Extension, Leduc-Farrell,
E. Girard and Leduc as previously announced.
The Lac La Blache West Ocurrence (at Km 11), the seventh occurrence located some
6 km southeast of the Hervieux East Occurrence. The mineralization consists of
5% to 25% mixed centimetric-disseminated and vein-type magnetite and ilmenite,
with occasional veins of 50% magnetite-ilmenite, in anorthosite covering a 4
kilometre by 2 kilometre segment of the ellipse. The average assay results from
the nineteen (19) surface grab samples taken are 13.5% Fe2O3 in a range of 1.1%
to 36.5% Fe2O3, 3.6% TiO2 in a range of trace to 3.6% TiO2, and 0.08% V2O5 in a
range of trace to 0.25% V2O5. NEVADO believes the 8 km2 disseminated
magnetite-ilmenite mineralization is associated the massive magnetite-ilmenite
lenses as a lower grade halo. Additional field work will be done during the
summer 2011 campaign.
All assay results have now been received from the 2010 field prospecting campaign.
New Discoveries
In 2010, NEVADO discovered six (6) massive and one (1) disseminated
magnetite-ilmenite lens. The massive magnetite-ilmenite lenses range from a
range of 1 metre to 25 metres in width and 25 metres to 450 metres in length.
Average grades for the massive lenses are in the range of 60% to 63% Fe2O3,
16.5% to 19.5% TiO2 and 0.07% to 0.17% V2O5 and are detailed in the following
table:
--------------------------------------------------------------------------
OCCURRENCE NAME DISTANCE AVERAGE GRADES SAMPLE TYPE
------------------------
% Fe2O3 % TiO2 % V2O5
--------------------------------------------------------------------------
MASSIVE MAGNETITE-ILMENITE LENSES
--------------------------------------------------------------------------
HERVIEUX EAST EXTENSION 2 channels,
32 channel
grabs, 2
Km 0(1) 63.1 19.4 0.11(2) grabs
--------------------------------------------------------------------------
HERVIEUX NORTH EXTENSION 1 km NE of
Hervieux East
Extension 61.9 16.7 0.17 1 grab
--------------------------------------------------------------------------
FARRELL-TAYLOR Km 3 63.5 18.7 0.10 1 grab
--------------------------------------------------------------------------
LEDUC Km 18 63.5 17.4 0.11 4 grabs
--------------------------------------------------------------------------
LEDUC-FARRELL 25 channel
Km 21 60.0 19.6 0.07 grab samples
--------------------------------------------------------------------------
E. GIRARD 21 channel
Km 27 61.9 16.5 0.11 grabs
--------------------------------------------------------------------------
DISSEMINATED MAGNETITE-ILMENITE (5% TO 50%)
--------------------------------------------------------------------------
LAC LA BLACHE WEST Km 11 13.5 3.6 0.08 19 grabs
--------------------------------------------------------------------------
(1)Distance is the distance measured from the Hervieux East Extension
Occurrence on the 45 kilometres magnetite-ilmenite ellipse or Ring of
Iron-Titanium-Vanadium
(2)V2O5 average grade based on 32 channel grab and strictly grab samples
only, no channel samples.
The La Blache Ring of Iron-Titanium-Vanadium
The La Blache Ring of Iron-Titanium-Vanadium (the "Ring") is a 45 kilometres
long prospective target of iron, titanium and vanadium mineralization (refer to
the appended Figure 1 location map). Highlights include:
1. The target Ring forms an 18 kilometres by 10 kilometres ellipse
encompassing a number of massive magnetite-ilmenite lenses within the La
Blache Anorthositic Complex located 160 kilometres to 180 kilometres.
2. The Ring is located entirely within the La Blache #1 and #2 claim blocks
of NEVADO's La Blache 646 claims / 355 km2 Property.
3. The Ring currently hosts nine (9) massive magnetite-ilmenite lenses of
various lengths, depths and widths; two (2) of which are historical,
discovered and explored in the 1950's and 1960's (Hervieux East and
Hervieux West), and seven (7) are new discoveries made by NEVADO in 2010
(Hervieux East Extension, Hervieux Extension North, Farrell-Taylor, Lac
La Blache West, Leduc, Leduc-Farrell and E. Girard Occurrences).
4. The historic Hervieux East and Hervieux West Ocurrences host historic
mineral resources of 79 million tonnes grading 68.7% Fe2O3, 20.5% TiO2
and 0.36% V2O5 situated outside NEVADO's Property but along the Ring
some 2 kilometres and 5 kilometres west-southwest of NEVADO's Hervieux
East Extension Occurrence, and demonstrate the upside tonnage and grade
potential of individual lenses on the Property.
5. Assays clearly demonstrate the continuity of the magnetite-ilmenite
mineralization along the established 45 kilometre trend of the Ring and
that assay grades are consistent across the full trend in the 60+%
Fe2O3, 17+% to 23% TiO2 and 0.10% V2O5.
Quality assurance / Quality Control ("QA/QC")
Surface grab samples averaging 1 kilogram each were taken by qualified personnel
from NEVADO under the supervision of Jean Lafleur, M.Sc., P. Geo., the La Blache
Property Project Manager. Samples were bagged, sealed and numbered on-site, and
delivered to the ALS Laboratory Group facility in Val-d'Or (Quebec) for analysis
using the ME-S81d Method. At the laboratory facility, samples were inventoried,
weighed and dried; crushed 70% to under 2 millimetres; riffled split with a 250
gram sub-sample pulverized 85% to under 75 microns; then followed by analysis.
The technical information in this news release was prepared, reviewed and
approved by Mr. Jean Lafleur, M. Sc., P. Geo., Senior Technical Consultant to
NEVADO, and Bertrand Brassard, M. Sc., P. Geo, Director and VP Exploration of
NEVADO. Both individuals are Qualified Persons under NI 43-101 regulations.
Figure 1 Nevado's La Blanche Property :
http://media3.marketwire.com/docs/LaBlancheProperty.pdf
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responsibility for the adequacy or accuracy of this news release. The statements
made in this news release that are not historical facts are "forward-looking
statements" and readers are cautioned that any such statements are not
guarantees of future performance, and that actual developments or results, may
vary materially from those in these "forward-looking" statements.
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