Mineral Assays From Nickel Royale Project Reported by NovaWest Resources: Samples Yield High Values for Nickel, Copper, Cobalt and Platinum Group Minerals.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 16, 2002 NovaWest Resources Inc. (http://www.novawest.com), stock symbol (CDNX CDNX See Canadian Venture Exchange (CDNX). :NVE NVE see no visible estrus. )(Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) ), has entered into discussions with major mineral producers for proposed joint ventures to exploit the potential of the Company's NICKEL ROYALE PROJECT mineral claims. The Company is very pleased to present the preliminary exploration results from the Nickel Royale property. NovaWest has 100% interest in an extensive, 152 claim unit (6080 acre) assemblage in the Hemlo-Schreiber Camp, Thunder Bay Thunder Bay, city (1991 pop. 113,946), SW Ont., Canada, on Thunder Bay inlet of Lake Superior. The city was created in 1970 by the amalgamation of the twin cities of Fort William and Port Arthur and two adjoining townships. , Ontario. The assemblage strategically straddles the Hemlo-Schrieber greenstone belt Greenstone belts are zones of variably metamorphosed mafic to ultramafic volcanic sequences with associated sedimentary rocks that occur within Archaean and Proterozoic cratons between granite and gneiss bodies. . This belt contains the Marathon deposit (34 mt Ni-Cu-PGMs) to the east, and the Nipigon Plate being investigated by others to the west. The belt, traditionally known for its VMS (1) (Virtual Memory System) A multiuser, multitasking, virtual memory operating system for the VAX series from Digital. VMS applications run on any VAX from the MicroVAX to the largest unit. See OpenVMS. potential and the renown Hemlo gold deposits, appears to be evolving into an important locus for poly metallic sulfides rich in Ni-Cu-PGMs. NovaWest's project is easily accessible by road and lies 9 miles west of the town of Schreiber and is in close proximity (10km) to the Winston Lake poly metallic VMS mine (Inmet Mining The 'Inmet Mining Corporation is a Canadian mining corporation that currently holds an 18% stake in Ok Tedi Mining Limited. ). The Nickel Royale property was geologized and the trenched body of known mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , 10 feet thick and at least 300 feet in strike length, was resampled in detail. Analytically the massive sulfides contain Nickel (Ni) up to 6.32%, Copper (Cu) up to 2.48%, Cobalt (Co) up to 3450 ppm, Silver (Ag) up to 6.8 ppm (0.2 opt), Pd+Pt+Au up to 0.84 g/t. Positive Bismuth bismuth (bĭz`məth) [Ger. Weisse Masse=white mass], metallic chemical element; symbol Bi; at. no. 83; at. wt. 208.9804; m.p. 271.3°C;; b.p. about 1,560°C;; sp. gr. 9.75 at 20°C;; valence +3 or +5. (Bi) and Tellurium tellurium (tĕl  r`ēəm) [Lat.,=earth], semimetallic chemical element; symbol Te; at. no. 52; at. wt. 127.60; m.p. 450°C;; b.p. 990°C;; sp. gr. 6. (Te) anomalies are associated
with the higher Ni grades. The Company is further encouraged because of
the known affinity of Tellurium and Bismuth with PGMs
(Platinum-Palladium Group Minerals) in existing, notable deposits such
as the Raglan in Northern Quebec.A number of key exploratory results will prove very relevant to the Company's planned Stage Two follow-up program such as: 1) A NEW body of sulfides, 10 to 15 meters thick and 100 meters long, was uncovered 15 meters south of the known body. The new body assayed (sample 163744) up to 2.72% Ni, 0.39% Cu and 509ppm Co. 2) The sulfides exhibit textures previously identified in ore bodies determined to have undergone extensive remobilization and relocation of the sulfides. 3) Numerous features point to a post-Archean age of emplacement. 4) The massive sulfides exhibit a Ni/Cu ratio of approximately 3/1. There is a presumed extension 12 kms to the EAST, on the Company's 100% owned, 1760 acre Shaboom Property. The presumed extension 12 kms to the WEST, on the Company's 100% owned, FourSox Property, underwent a cursory sampling of the semi-massive sulfides located in pits within the east-west trending gabbroic unit in volcanics. The mineralization does appear to have been sourced from a sulfide-bearing mafic to ultramafic ul·tra·maf·ic adj. Ultrabasic. ultramafic Containing mainly mafic minerals. Used of igneous rocks and often used interchangeably with ultrabasic. Dunite is an ultramafic rock. , presently assumed to be the western extension of the central Nickel Royale property.
Sample Pd+Pt+Au
No. Cu % Ni % Co ppm Au ppb Pd ppb Pt ppb ppb
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P163711 1.63 1.72 440 22 492 84 608
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P163712 2.48 2.59 462 18 292 78 388
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P163713 0.35 2.54 483 8 166 28 202
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P163714 0.15 6.23 1167 29 342 54 425
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P163715 1.29 2.32 1023 46 256 108 410
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P163716 1.33 0.14 179 34 66 32 132
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P163721 0.13 0.52 133 15 76 23 114
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P163723 0.78 1.63 493 34 258 68 360
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P163726 2.10 0.18 1963 38 72 100 210
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P163728 0.67 1.36 2643 4 34 48 86
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P163729 2.29 1.88 3450 66 70 306 442
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P163730 0.66 1.55 803 26 66 26 118
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P163732 1.30 2.00 983 42 360 72 474
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P163744(a) 0.39 2.72 509 19 97 11 127
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P163747 0.22 1.00 245 20 84 28 132
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P163748 0.73 4.98 997 80 560 120 760
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P163749 0.53 4.76 1035 30 509 299 838
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P163750 1.03 4.26 826 67 500 144 711
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(a) Denotes the 'newly' discovered body
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All samples underwent multi-element geochemical analysis using ICP-OES ICP-OES Inductively Coupled Plasma-Optical Emission Spectroscopy finish preceded by acqua regia extraction at Activation Laboratories Ltd., accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. by SCC SCC - strongly connected component to ISO/IEC ISO/IEC International Organization for Standardization/International Electrotechnical Commission (ITU-T M 3000) . Gold, palladium and platinum determinations involved Fire-assay-ICP-OES method of analysis. The Company has now prioritized the Nickel Royale Assemblage and is planning follow-up exploration, which is expected to include geophysics and diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral . Contact the Company at 1-800-663-8990 or by e-mail for more details on this and the Company's other exciting projects. |
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