THOMPSON, Manitoba Next year's work on the Mel claims and lease will cost $600,000, says NUINSCO RESOURCES. Nuinsco has an option/buy-back agreement with INCO LTD. to acquire a 100% interest in the Mel property 25 km from Inco's Thompson mines and smelter.
Over the past four years, Nuinsco has spent over $2 million on exploration at Mel. Programs include audio-magneto telluric (AMT) and UTEM surveys and diamond drilling. A total of 10 holes have tested anomalies identified by the surveys on the Mel claims, but none encountered attractive mineralization. Nuinsco's drilling on the Mel lease outlined indicated mineral resources of 290,000 tonnes grading 1.69% Ni and inferred mineral resources of 260,000 tonnes with the same grade.
Nuinsco plans to spend $600,000 in 2004 on 10 surface UTEM surveys and 3,200 metres of diamond drilling. President and CEO Warren Holmes (416-626-0470) has more information or visit www.nuinsco.ca.
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