NEVADO Assays More Significant Grades From the Sixth New Occurrence at 63.5% Iron From the La Blache Property (Quebec)
December 09 2010 - 5:30AM
Marketwired
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
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts 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.
Contacts: Nevado Resources Corporation Mr. Guy Girard President
and CEO 514-798-1290 www.nevado.ca
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