Nevado Resources Corporation
TSX VENTURE : VDO
FRANKFURT : NSV

Nevado Resources Corporation

November 23, 2010 08:30 ET

NEVADO Assay Results From 25 Surface Channel Grab Samples Taken From the 100 Meters Long Leduc-Farrell Magnetite-Ilmenite Occurrence Average 60% Iron and 19.6% Titanium at...

... the La Blache Iron-Titanium-Vanadium Property (Quebec)

- Assays pending on the remaining 109 surface grab and channel samples from the three other new massive magnetite-ilmenite occurrences (Farrell-Taylor, Zorro, and E. Girard Showings), including from an additional multi-kilometric, disseminated magnetite and ilmenite domain (Lac La Blache Showing)

MONTREAL, QUEBEC--(Marketwire - Nov. 23, 2010) - NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or "NEVADO") is pleased to announce Iron, Titanium and Vanadium assay results from the recently discovered massive magnetite-ilmenite Leduc-Farrell Occurrence ("Leduc-Farrell") found during the summer-fall 2010 exploration program on the Company's wholly-owned 646 claims / 355 km2 La Blache Iron-Titanium-Vanadium Property (refer to the NEVADO news release dated November 10, 2010).

Leduc-Farrell is located 9 km southwest of the Hervieux-East Extension Occurrence, and is a minimum 100 m in length by 10 m wide. The entire length of the occurrence was sampled with 25 (25 cm by 10 cm by 10 cm deep) saw-cut surface channel samples of magnetite-ilmenite. Average assay results are 60.0% Iron (expressed as Iron Oxide or Fe2O3), 19.6% Titanium (TiO2) and 0.07% Vanadium (V2O5). Individual assay results in Iron, Titanium and Vanadium are as follows:

GRAB
SAMPLE #
%
Fe
2O3
%
TiO
2
%
V
2O5
GRAB
SAMPLE #
%
Fe
2O3
%
TiO
2
%
V
2O5
698056 60.6 19.2 0.10 698069 59.8 20.1 0.06
698057 57.9 19.5 0.09 698070 61.2 20.0 0.05
698058 60.5 19.0 0.12 698071 58.8 19.5 0.03
698059 58.8 18.6 0.06 698072 62.1 19.7 0.03
698060 59.9 19.0 0.15 698073 70.4 22.1 0.08
698061 61.8 19.5 0.08 698074 59.9 19.9 0.03
698062 55.1 17.8 0.16 698075 61.0 19.5 0.05
698063 61.1 19.4 0.03 698076 50.0 17.5 0.06
698064 70.5 21.3 0.03 698077 52.9 19.3 0.04
698065 61.9 19.6 0.04 698078 60.3 20.1 0.06
698066 62.9 19.9 0.06 698079 61.0 20.6 0.11
698067 58.6 19.9 0.09 698080 60.9 19.3 0.07
698068 53.1 19.8 0.05  AVERAGE 60.0 19.6 0.07

Note: Surface channel grab samples averaging 1 kg each were taken by Company qualified personnel under the supervision of Jean Lafleur, M.Sc., P. Geo., NEVADO's La Blache Project Manager. Samples were bagged, sealed and numbered on-site, and delivered to the ALS Laboratory Group facility in Val-d'Or (Quebec) for analysis using the ME-S81d Method. At the laboratory facility, samples were inventoried, weighed and dried; crushed 70% to under 2 millimetres; riffled split with a 250 gram sub-sample pulverized 85% to under 75 microns; then followed by analysis.

The grades of the magnetite-ilmenite surface channel grab samples are comparable to the previous channel and surface channel grab samples taken earlier from Hervieux East Extension where samples yielded up to 12.0 m of 62.8% Fe2O3 and 19.6% TiO2, and 7.0 m of 62.1% Fe2O3 and 20.0% m TiO2 as well as 32 channel grabs that averaged 59.0% Fe2O3, 18.6% TiO2 and 0.11% V2O5 in a range of 51.1% and 62.8% Fe2O3, 17.7% and 19.7% TiO2 and 0.05% and 0.16% V2O5 (refer to the NEVADO news releases dated March 30, September 21, October 28, and November 16, 2010). Assay results are pending from the additional 109 grab and channel samples taken on the other three massive (Farrell-Taylor, Zorro and E. Girard) and the one disseminated (Lac La Blache) magnetite-ilmenite occurrences.

NEVADO is now planning a minimum 3,500 m diamond drill program to start once all geophysical and geological data is synthesized and interpreted, and the campaign is permitted, to outline the full-size and grade potential of these magnetite-ilmenite lenses with the ultimate objective of eventually proving up significant near-term iron-titanium mineral resources across the Properties. NEVADO is fully funded for the work having raised $2.25 million in late 2009.

The technical information in this news release was prepared, reviewed and approved by Mr. Jean Lafleur, M. Sc., P. Geo., Senior Technical Consultant to NEVADO, and Bertrand Brassard, M. Sc., P. Geo, Director and VP Exploration of NEVADO. Both individuals are Qualified Persons under NI 43-101 regulations.

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.

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.

Contact Information

  • Nevado Resources Corporation
    Mr. Guy Girard
    President and CEO
    514-798-1290
    www.NEVADO.ca