Nuinsco Resources Ltd., Toronto, on May 31 announced an initial Mineral Resource Estimate (MRE) on its Prairie Lake Critical Minerals and Phosphate Project located near Terrace Bay, Ont. The project, which contains total rare earth oxides (TREO), niobium, and phosphate has an MRE consisting of 15.6 million mt Indicated Mineral Resource and 871.8 million mt Inferred Mineral Resource in accordance with National Instrument 43-101. A Preliminary Economic Assessment on the project will commence shortly.
“The suite of economically significant mineralization identified in the MRE includes neodymium, praseodymium, niobium, scandium, and phosphate; demand for all is projected to steeply increase over the coming years through expanding electrification and implementation of “green” technologies to combat climate change, and to sustain and improve agricultural productivity globally,” said Nuinsco CEO Paul Jones.
The company noted that the Prairie Lake site is close to the TransCanada Highway, rail, power and shipping infrastructure.
Nuinsco is currently focused on prospective opportunities in Canada and Egypt. It currently has four projects in Ontario. In addition to Prairie Lake, it has the Sunbeam gold property near Atikokan, the Dash Lake gold property near Terrace Bay, and the Zig Zag Lake property (lithium, tantalum) near Armstrong. In addition, Nuinsco has an agreement for gold exploitation at the El Sid project in the Eastern Desert of Egypt.