MONTREAL, Feb. 5, 2015 /CNW Telbec/ - NEVADO RESOURCES
CORPORATION (TSXV: VDO) (FSE: NSV) ("Nevado" or the
"Corporation") is pleased to announce that it has discovered three
new mineralized areas at its Fermont graphite property, located near Focus
Graphite's Lac Knife deposit in Northern
Quebec.
The Corporation carried out prospecting and sampling on the
Fermont property in October 2014 to test the results of the
helicopter-borne TDEM electromagnetic survey conducted in 2012. Due
to difficult ground conditions caused by heavy rain, only 13 grab
samples were collected from three separate areas. These three new
graphite-bearing areas indicate a significant extension of the
graphite zones identified previously, and expand the area of
interest for exploration on the property.
Line 32S
Three grab samples (SF-14-05a, SF-14-05b and SF-14-06) returned
12.51% Gp, 8.38% Gp and 7.30% Gp from one outcropping area of about
6 m2. The host rock, a biotite paragneiss, lies between
two curved, parallel HEM conductors located previously by the
geophysical survey. The two conductors may be linked, and may
represent a single graphitic unit on either side of an anticline
structure.
Line 36S
Sample SF-14-07, taken from a rusty biotite paragneiss, was
shown to contain 6.03% Gp. The outcrop, east of the base line, lies
directly over an HEM conductor and on strike with a projected
graphitic unit intersected at depth in Hole NV-12-03, drilled by
Nevado in 2012, which returned 5.83% Gp in a biotite paragneiss
between 194 and 214 metres. This intersection is on Line 24S, some
1,200 metres farther north, which suggests that the SF-14-07 site
may very well be the southern extension of the graphitic unit
identified in the hole.
Line 52S
Sample SF-14-11 was collected at the southern end of the
property, where a biotite paragneiss was shown to contain 9.15% Gp.
The sample is found along an HEM conductor that returned around 5%
Gp from previous sampling by Nevado some 50 metres farther east.
The conductor can be traced for a distance of at least 800 metres.
On Line 42S, Nevado obtained grades of 15.45% Gp and 16.8% Gp in
previous work.
"The Fermont property is
generating consistently good results," noted Michael Curtis, President and CEO of Nevado.
"This short sampling program confirmed the graphitic nature of the
conductors identified by geophysics and significantly expanded the
area of interest for exploration. The next step is to extend
prospecting and channel sampling work to the unexplored areas of
the property, after which we will drill the best targets. As for
our recent JV agreement with Neomet Technologies, we are presently
looking at several financing alternatives. Once the required
financing is raised, we will start pilot plant testing on La
Blache's ore, which is already stored at Neomet's facilities."
All the samples were sent to the ALS Minerals laboratory in
Val-d'Or and assayed for graphitic
carbon content.
The technical information contained in this press release has
been reviewed and approved by Alain
Tremblay, a Qualified Person under NI 43-101.
About Nevado Resources
Nevado Resources is a junior strategic metals company with
properties in Canada. The
Corporation owns a 100% interest in the La Blache
titanium-vanadium-iron property in Northern Quebec, the Fermont graphite property near Focus
Graphite's Lac Knife property in Northern
Quebec, and the Bozema and Steel River
zinc-copper-silver-gold properties in the Schreiber-Hemlo camp in Ontario.
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.
SOURCE Nevado Resources Corporation