Nuinsco Resources Limited ("Nuinsco" or "the Company") today announced that work has commenced at CBay Minerals Inc. ("CBay") tailings management area ("TMA") in Chibougamau, central Quebec, in order to upgrade the facilities for future use.
CBay is 50%-owned by Nuinsco and 50%-owned by Ocean Partners Investments Limited and is a dominant player in Quebec's Chibougamau mining camp with assets including a mill/concentrator of up to 2800 tonne-per-day capacity and an associated tailings facility, eight past-producing copper/gold mines, three potential near-term copper producers and a 38,850 ha land position with excellent exploration potential. Approximately 75% of the total historic Chibougamau camp production of 1.7 billion pounds of copper and 3.2 million ounces of gold was mined from ground held by CBay.
CBay plans to complete the TMA works during the month of October, 2014. The work includes a dam raise program and construction of an operational and emergency spillway. This work will enhance CBay's ability to restart milling operations quickly should production resume from any of its properties.
As previously reported (see press release dated 16 October, 2014), diamond drilling is also underway on the CBay Devlin project. Devlin is an easily-accessible, partially-developed, high-grade copper deposit located about 40km by road from the Copper Rand mill and TMA. Any resources developed at Devlin would supplement the copper resource (reported to NI 43-101 standard) that already exists on the nearby, 100% CBay-owned, Corner Bay deposit. Both Devlin and Corner Bay have the potential to provide feed to CBay's Copper Rand mill in Chibougamau following a short period of additional development.
About Nuinsco Resources Limited
Nuinsco is a growth-oriented, multi-commodity mineral exploration company that is focused on world-class mineralized belts in Canada and internationally. In addition to its property holdings in Ontario, Saskatchewan and Turkey, Nuinsco owns common shares and a participating interest in cash flow from Victory Nickel Inc. (TSX:NI), and a 50% interest in CBay Minerals Inc. (50% Nuinsco, 50% Ocean Partners Investments Limited), a private company that is a dominant player in Quebec's Chibougamau mining camp with assets including a permitted mill and tailings facility, eight past-producing copper/gold mines, three potential near-term copper producers and a 96,000 acre land position. Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.
Source: http://www.nuinsco.ca/