NUINSCO RESOURCES and INCO LTD. are launching a major geophysical and diamond drilling program on the Mel property, comprising 78 claims within the Thompson Nickel Belt. The Mel project is only 25 km north of Thompson, Man., where Inco has a nickel mining-smelting operation.
The area was explored during the 1960s and ’70s, but recent advances in audio-magnetotellurics and fixed-loop surface UTEM technologies have drawn Nuinsco back to the property.
Nuinsco is funding current work as part of its agreement to earn 100% interest in the property. It has raised the money for this winter’s program through a private placement. Inco can reacquire a 51% interest by funding a share of development costs and spending $6 million on exploration over four years.
The two companies maintain web sites at www.nuinsco.ca and www.inco.com