Nuinsco Resources Limited today announced that diamond drilling is scheduled to begin imminently at the Devlin Property in Chibougamau, central Quebec. The drill program is designed with the objective of establishing a NI 43-101-compliant copper resource at Devlin.
The Devlin Property, held by CBay Minerals Inc. which is 50% owned by Nuinsco and 50% by Ocean Partners Investments Limited, is an easily-accessible, partially-developed, high-grade copper deposit that is well situated to provide copper ore to CBay's wholly-owned Copper Rand mill. Devlin is located about 10 kilometres west of CBay's 100%-owned, partially-developed Corner Bay copper deposit and about 40 kilometres by road from the Copper Rand mill and tailings management facility located near the town of Chibougamau.
An estimated 15 drill holes will be collared to evaluate the mineralized domain for volume, grade and continuity. A bulk sample was extracted at Devlin, however no NI 43-101 mineral resource currently exists. By focusing on increasing tonnes through drilling the Company feels this program has the potential to add value to all of CBay's assets in Chibougamau.
A 350-metre decline and over 600 metres of exploration drifts have been developed on the project by past operators. In 1982, a bulk sample of 16,330 tonnes grading 3.72% copper was processed at a mill in Chibougamau with recoveries reported in the mid-90% range. Using a 2.5% Cu cut-off Watts Griffiths and McOuat Limited ("WGM") estimated Devlin to contain proven and probable reserves of 146,000 tonnes at 3.38% copper, measured and indicated resources of 149,700 tonnes grading 3.95% copper and inferred resources of 90,700 tonnes grading 3.69% copper. (These are historic results reported by WGM in 1995. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources; the issuer is not treating the historical estimate as current mineral resources). The Devlin deposit, as defined to date, is within 100 metres of surface.
CBay is one of the largest landowners in Quebec's prolific Chibougamau mining camp. Approximately 75% of all copper and gold produced from the Chibougamau camp was mined from CBay's current land position. The additional claims (as reported in news release dated October 3, 2014) will enhance and protect the Devlin project which could be a near-term producing asset in the camp along with the Corner Bay and Perch River projects also owned by CBay.