NEVADO Assays up to 67.6% Iron and 21.4% Titanium in Grab Samples of the Massive Magnetite-Ilmenite at the Hervieux East Extensi
November 18 2010 - 8:50AM
Marketwired
NEVADO RESOURCES CORPORATION (TSX VENTURE: VDO) (FRANKFURT: NSV)
(the "Company" or "NEVADO") is pleased to announce Iron, Titanium
and Vanadium assay results from recently discovered massive
magnetite-ilmenite at the Hervieux East Extension and newly
discovered Hervieux North Extension Occurrences found during the
2010 exploration program on the Company's wholly-owned 646 claims /
355 km(2)La Blache Iron-Titanium-Vanadium Property (refer to the
NEVADO news release dated November 10, 2010). Iron, Titanium and
Vanadium assay results are expressed as oxides and are outlined as
follows:
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GRAB SAMPLE # % Fe2O3 % TiO2 % V2O5
Hervieux East Extension
701100 67.6 21.4 0.14
701101 64.3 17.6 0.07
Hervieux East North Extension
701102 61.9 16.7 0.17
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Note: Surface grab samples averaging 2 kg each were taken by
Company qualified personnel under the supervision of Jean Lafleur,
M.Sc., P. Geo., NEVADO's La Blache 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.
Hervieux East Extension Occurrence
The two surface grab samples (#701100 and #701101) from the
Hervieux East Extension Occurrence were taken 80 metres north of
the original 125 long outcrop. The grades are comparable to the
previous channel and surface channel grab samples taken earlier in
the year from Hervieux East Extension where samples yielded up to
12.0 metres of 62.8% Fe2O3 and 19.6% TiO2, and 7.0 metres of 62.1%
Fe2O3 and 20.0% m TiO2 as well as 32 channel grabs that averaged
59.0% Fe2O3, 18.6% TiO2 and 0.11% V2O5 in a range of 51.1% and
62.8% Fe2O3, 17.7% and 19.7% TiO2 and 0.05% and 0.16% V2O5 (refer
to the NEVADO news releases dated March 30, September 21 and
October 28, 2010). Hervieux-East Extension now stretches over 200
metres, from the original 125 metres, over a minimum width of 35
metres, and remains open on all sides.
Hervieux North Occurrence
The third surface grab sample (#701102) was taken 1 kilometre
north of the Hervieux East Extension and assayed 61.95% Iron (as
Iron Oxide or Fe2O3) and 16.7% Titanium (as Titanium Oxide or TiO2)
and constitute the newly discovered Hervieux North Extension
Occurrence.
Assays are still pending on the remaining 134 surface grab and
channel samples taken from the four other new massive
magnetite-ilmenite occurrences (Farrell-Taylor, Zorro,
Leduc-Farrell and E. Girard Showings), including from one
additional multi-kilometric, disseminated magnetite and ilmenite
domain (Lac La Blache Showing), all located along what appears to
be within a 200 m wide zone part of a 45 kilometres long corridor
forming the perimeter of an 18 km by 10 km ellipse.
Airborne Geophysical (Magnetics and Electromagnetics) survey
NEVADO has also completed the 3,425 line-kilometres airborne
geophysical survey which targeted (1) magnetic massive, decimetric
magnetite-ilmenite lenses), but also (2) magnetic and conductive
semi-massive to massive sulphides known to occur in more gabbroic
rocks 30 km East of the Hervieux East Extension, similar to the
Outardes-Three and -Four occurrences, where historic work yielded
up to 50% sulphides in breccias and veins/veinlets carrying up to
0.94% Nickel and 0.36% Copper and 1.28% Nickel and 1.38% Copper in
grab samples (Falconbridge,1998; MRNFQ Assessment File GM
56307).
Upcoming Drill Campaign
NEVADO is now planning a minimum 3,500 m diamond drill program
to start once all geophysical and geological data is synthesized
and interpreted, and exploration permits have been received for the
campaign, to outline the full-size and grade potential of these
magnetite-ilmenite lenses with the ultimate objective of eventually
proving up significant near-term iron-titanium mineral resources
across the Properties. NEVADO is fully funded for the work having
raised $2.25 million in late 2009.
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.
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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