NEVADO Assay Results From 32 Surface Channel Samples Average 59% Iron and 18.6% Titanium at the Now 150 Metres by 50 Metres Herv
28 October 2010 - 11:00PM
Marketwired
NEVADO RESOURCES CORPORATION (TSX VENTURE: VDO)(FRANKFURT: NSV)
-- NEVADO has expanded its prospecting and sampling program to define
additional, and the full size and grade potential of these magnetite-
ilmenite lenses
NEVADO RESOURCES CORPORATION (TSX VENTURE: VDO)(FRANKFURT: NSV)
- (the "Company" or "Nevado) is pleased to announce assay results
from 32 surface channel samples of the summer 2010 exploration
program on the Company's wholly-owned 25 claims La Blache #1
Iron-Titanium-Vanadium Property ("La Blache #1" or the "Property").
The 13.6 km(2) Property is located 145 km north of Baie-Comeau
along Quebec's North Shore region and is also situated near
Hydro-Quebec's Manic 3 and Outardes River Hydroelectric
Reservoirs.
NEVADO received assay results from the 120 m long by 35 m wide
magnetite-ilmenite outcrop at the Hervieux East Extension
Occurrence ("Hervieux East Extension"). The entire length of the
occurrence was sampled with 32 (25 cm by 10 cm by 15 cm deep)
saw-cut surface channel samples of magnetite-ilmenite. Assay
results were previously received from 3 channel sampling along a 25
m segment of the Hervieux East Extension outcrop. The channel
samples yielded 12 m of 62.8% Fe2O3 and 19.6% TiO2, 6 m of 60.8%
Fe2O3 and 19.5% TiO2, 7 m of 62.1% Fe2O3 and 20.0% m TiO2.
Iron and Titanium assay results are as follows for the 32
surface channel samples:
----------------------------------------------------------------------------
Channel % % % Channel % % % Channel % % %
Sample# Fe2O3 TiO2 V2O5 Sample# Fe2O3 TiO2 V2O5 Sample# Fe2O3 TiO2 V2O5
----------------------------------------------------------------------------
601 54.0 17.9 0.13 612 61.4 18.3 0.13 623 59.8 18.3 0.10
602 54.0 18.3 0.13 613 61.3 19.4 0.09 624 61.1 19.4 0.10
603 60.8 18.9 0.12 614 61.5 18.9 0.05 625 61.8 19.7 0.11
604 58.8 18.2 0.09 615 58.0 18.0 0.10 626 62.2 19.3 0.15
605 61.0 18.5 0.12 616 57.2 19.5 0.10 627 54.6 18.4 0.16
606 51.1 17.7 0.11 617 55.2 18.5 0.10 628 60.1 19.2 0.12
607 60.6 17.8 0.13 618 60.6 19.3 0.11 629 63.3 18.9 0.07
608 60.6 17.7 0.16 619 60.2 19.0 0.13 630 59.8 18.5 0.09
609 58.2 18.4 0.12 620 62.8 19.4 0.11 631 54.4 18.2 0.09
610 56.0 18.3 0.11 621 61.5 18.8 0.08 632 55.6 18.3 0.09
611 59.3 18.6 0.11 622 60.7 19.3 0.11 Average 59.0 18.6 0.11
----------------------------------------------------------------------------
Note: Surface channel samples averaging 0.75 kg each were taken
by Bertrand Brassard, P. Geo., Director and VP Exploration of
NEVADO. 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 um; then followed by analysis.
The current average grades of the magnetite-ilmenite surface
channel samples are 59% 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, which are comparable to the channel and previous surface
channel samples taken earlier in the year from Hervieux East
Extension (refer to the Nevado news releases dated September 20 and
March 30, 2010). Detailed prospecting and grab/channel sampling to
establish continuity and grades of the magnetite-ilmenite at
Hervieux East Extension continues to the east and northeast.
In addition, NEVADO has expanded its prospecting and sampling
program to define additional and the full size and grade potential
of these magnetite-ilmenite lenses with the objective of eventually
proving up significant near-term iron-titanium Mineral Resources
across the entire Property. NEVADO is fully funded for the work
having raised $2.25 million in 2009.
The magmatic iron-titanium bearing magnetite-ilmenite lenses are
associated with the La Blache Anorthositic Complex (the "LBAC").
The LBAC extends 35 km in a northeast-southwest direction by 15 km
across, hosting a series of magnetite-ilmenite rich lenses some
10's to 100's metres in size along a 15 km long mineralization
corridor, of which Nevado owns outright 7.5 km of the total trend
length.
According to the Ministere des ressources naturelles et de la
faune Quebec Deposit File 22K/04-0001 the La Blache iron-titanium
mineralization was originally discovered in 1952 and subsequently
explored in the 1960's by the Bersimis Mining Company which used
airborne magnetic techniques to identify a series of surface
iron-titanium lenses over the 15 km trend covering several
occurrences. Historic work evaluated mineral resources of 71.67
million tonnes grading 48% Iron (Fe2O3) and 20.5% Titanium (TiO2).
The historical mineral resources quoted is non-compliant to NI
43-101 Mineral Resource standards, and should therefore not be
relied upon. A Qualified Person has not done sufficient work to
classify the historical resource as current NI 43-101 compliant
Mineral Resources. There is no guarantee that any future
exploration would upgrade the historical Mineral Resources into
current Mineral Resources. At this time it is not known if any or
part of the historical mineral resources occurs on Nevado's La
Blache #1 Property.
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: Mr. Guy Girard President and CEO 514-798-1290
www.nevado.ca
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