Nemaska Exploration Inc.
TSX VENTURE : NMX

Nemaska Exploration Inc.

May 03, 2010 21:53 ET

Nemaska Reports 75.6 M at 1.94% Li2O and 173 ppm Be and 100.8 M at 1.43% Li2O and 150 ppm Be From its Lithium/Beryllium Project (Whabouchi) and Starts Resource Calculation

QUEBEC, QUEBEC--(Marketwire - May 3, 2010) - Nemaska Exploration Inc. («Nemaska» or the« Corporation») (TSX VENTURE:NMX) is pleased to confirm the completion of its diamond drilling campaign started January 15, 2010 on its 100% owned Lithium/Beryllium Whabouchi project. A total of 59 holes (11,830 m) were drilled this winter, covering 1,250 m along strike of spodumene bearing pegmatite mineralized zones. Additional results from this campaign include: 99.05 m at 1.35 % Li2O, 75.6 m at 1.94 % Li2O, 43.15 m at 1.78% Li2O, 51.2 m at 1.51% Li2O and 100.8 m at 1.43% Li2O. To date 66 holes have been drilled, 59 of which have been announced and the balance of 7 holes is expected by May 10, 2010.

"With our drilling complete we are moving forward with the resource estimate, which we expect to be available around May 31st, 2010," commented Mr. Guy Bourassa, President and CEO. "Our team has rapidly advanced this project through a focused effort. When you consider it was only an historical showing back in October 2009, they have done a remarkable job in a very short period of time. Since last October, we have drilled 12,745 m (66 holes), trenched 710 m and channel sampled 295.6 m."

The drill results to date confirm that the main zone runs from section 1+50 to the section 12+00 with an approximate average grade of 1.50% Li2O. The main zone has a width of 10 to 20 m from section 1+50 to 3+00 and becomes wider and reaches 80 m on section 4+75 and back to 10 m to 20 m at section 12+00. The average width of the main zone is 65 m. Four (4) other spodumene bearing pegmatite zones with variable widths reaching up to 27 m, have been identified within 10 to 50 meters south of the main zone. All zones remain open at depth and to the East. An updated map and photo showing the location of the drill sections can be accessed at
http://media3.marketwire.com/docs/Plan_surface_photo_montagne.pdf

The intersections equal or greater than 5 m from the most recent 15 holes are reported in the table below:

Section Hole From
(m)
To
(m)
Core length (m) True widths (m) Li2O % Be ppm Rb ppm
5+25 E WHA-10-31 93.4 100.5 7.1 6.7 1.22 86 2838
5+25 E WHA-10-31 124 199.6 75.6 63.6 1.94 173 1160
5+25 E WHA-10-33 14 22 8.0 7.2 1.98 175 1850
5+25 E WHA-10-33 37.8 124.8 87 75.3 1.33 130 977
6+25 E WHA-10-34 178.4 185.2 6.8 5.5 1.66 172 1346
6+25 E WHA-10-34 193.3 258.4 65.1 52.6 1.22 111 983
8+00 E WHA-10-42 1.7 9 7.3 6.2 2.27 158 1238
8+00 E WHA-10-42 37.4 51.2 13.8 11.1 1.99 141 1133
8+00 E WHA-10-42 55.2 70.2 15.0 12.8 1.60 160 1260
3+00 E WHA-10-49 1.4 64 62.6 58.60 1.02 118 1294
3+00 E Including 1.4 16.2 14.8 13.90 1.53 153 995
3+00 E Including 28.8 38 9.2 8.60 1.17 98 1389
3+00 E Including 46 64 18 16.90 1.42 183 1494
3+00 E WHA-10-50 22.8 29.8 7 6.6 1.48 143 1614
3+00 E WHA-10-50 91 103 12 11.3 1.99 158 1417
4+00 E WHA-10-51 108.1 169 60.9 50.5 1.24 122 1138
4+00 E Including 108.1 133.4 25.3 21 1.93 150 1753
4+00 E Including 151.7 169 17.3 14.4 1.44 211 1061
2+00 E WHA-10-52 60 66 6 5.6 1.87 117 1567
2+25 E WHA-10-52 145.3 160 14.7 13.8 2.06 166 1069
2+00 E WHA-10-53 23.2 58 34.8 27.1 1.69 134 978
2+00 E Including 23.2 47 23.8 18.6 2.01 145 1064
2+00 E WHA-10-53 52 58 6 4.7 1.58 150 750
2+25 E WHA-10-54 33.3 84.5 51.2 42.7 1.51 156 1088
2+25 E Including 33.3 69.5 36.2 30 1.90 155 1094
2+25 E Including 77.35 84.5 7.15 5.9 1.00 200 1125
2+75 E WHA-10-55 31.7 53.5 21.8 18.2 1.81 187 1415
3+25 E WHA-10-56 29.3 72.45 43.15 37.5 1.78 202 1132
3+75 E WHA-10-57 22.9 50.7 27.8 23.1 1.63 178 1352
3+75 E WHA-10-57 78.9 92 13.1 10.9 1.30 185 934
3+75 E WHA-10-57 121.7 128.5 6.8 5.6 2.14 171 512
4+25 E WHA-10-58 22.95 122 99.05 84.8 1.35 131 1046
4+25 E Including 22.95 49.55 26.6 22.9 1.91 162 1391
4+25 E Including 64.1 98.75 34.65 29.8 1.74 192 1424
4+25 E Including 107.7 122 14.3 12.3 1.47 142 1067
4+90 E WHA-10-59 3.6 10.2 6.6 5.7 1.78 83 1450
4+90 E WHA-10-59 26.9 127.7 100.8 88 1.43 150 1122
4+90 E Including 26.9 32.5 5.6 4.9 1.96 200 1316
4+90 E Including 41.2 75.95 34.75 30.2 1.94 152 1374
4+90 E Including 77.45 127.7 50.25 43.7 1.28 174 1125

The Company has reported the intersections lengths as well as the best estimates of the true widths given the current understanding of the geology. The drill holes were done at an average azimuth of 330 degrees and a dip of 50 degrees. The pegmatite bands have generally an azimuth of 060 degrees and a South-East dip of 70 degrees to 80 degrees.

The samples have been shipped for preparation (crushing and pulverization) to the Table Jamésienne de Concertation Minière (TJCM) lab in Chibougamau. The prepared samples are then sent by courier to the Toronto laboratory of SGS Mineral Services, Ontario, for lithium, beryllium and rubidium analysis by sodium peroxide fusion method. This laboratory is recognized by industry and accredited ISO/MEC 17025: 2005 by the Canadian Council of standards. Nemaska Exploration implements a rigorous quality control protocol to its operations, including the insertion of analytical control samples, duplicates and blanks and follow-up on the results of these assays.

The technical sections of this press release have been prepared by Yvan Bussières, P. Eng and reviewed by Claude Britt, Geo. qualified persons as defined in National instrument 43-101.

About Nemaska Exploration

Nemaska Exploration Inc. is a mineral exploration company involved in the James Bay region of Quebec. Its main assets are the Lac Arques (about 32,000 hectares), Whabouchi (about 1,600 hectares) Lac Levac and Lac des Montagnes properties (about 32,000 hectares) all 100 % owned. These properties are contiguous and cover about 70 km of the Lac des Montagnes green belt polymetallic formation. They are easily accessible year round by either the Route du Nord from Chibougamau (280 km) or the Route de la Baie James from Matagami (380 km) and are located near the Cree community of Nemaska and the Némiscau airport.

Neither 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 release.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Contact Information

  • Guy Bourassa
    President
    418-704-6038
    bourassag@nemaskaexploration.com
    or
    Linx Inc.
    Wanda Cutler
    416-603-4646
    or
    Mi3 Communications Financieres Inc.
    Luc St-Pierre or Nathalie Dion
    514-904-1333