Nevado Resources Corporation
TSX VENTURE : VDO
FRANKFURT : NSV

Nevado Resources Corporation

December 09, 2010 06:30 ET

NEVADO Assays More Significant Grades From the Sixth New Occurrence at 63.5% Iron From the La Blache Property (Quebec)

MONTREAL, QUEBEC--(Marketwire - Dec. 9, 2010) - NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or "NEVADO") is pleased to report new Iron, Titanium and Vanadium assay results from recently discovered massive and disseminated magnetite-ilmenite lenses found during the summer-fall 2010 exploration program on the Company's wholly-owned La Blache Iron-Titanium-Vanadium Property (the "Property") (refer to the NEVADO news release dated November 10, 2010).

The sixth occurrence, termed the Farrell-Taylor Occurrence (at Km 3), occurs only 3 kilometres east of the initial Hervieux East Extension Occurrence at Km 3 (in a clockwise direction) along the 45 kilometres ellipse or La Blache Ring of Iron-Titanium-Vanadium. The occurrence consists of a minimum 25 metres long and 5 metres wide magnetite-ilmenite lens. The surface grab sample yielded 63.5% Iron (expressed as Iron Oxide or Fe2O3), 18.7% Titanium (TiO2) and 0.10% Vanadium (V2O5). The grades of the magnetite-ilmenite surface channel and grab samples are comparable to the previous surface sample assays of the new occurrences at Hervieux East Extension, Hervieux North Extension, Leduc-Farrell, E. Girard and Leduc as previously announced.

The Lac La Blache West Ocurrence (at Km 11), the seventh occurrence located some 6 km southeast of the Hervieux East Occurrence. The mineralization consists of 5% to 25% mixed centimetric-disseminated and vein-type magnetite and ilmenite, with occasional veins of 50% magnetite-ilmenite, in anorthosite covering a 4 kilometre by 2 kilometre segment of the ellipse. The average assay results from the nineteen (19) surface grab samples taken are 13.5% Fe2O3 in a range of 1.1% to 36.5% Fe2O3, 3.6% TiO2 in a range of trace to 3.6% TiO2, and 0.08% V2O5 in a range of trace to 0.25% V2O5. NEVADO believes the 8 km2 disseminated magnetite-ilmenite mineralization is associated the massive magnetite-ilmenite lenses as a lower grade halo. Additional field work will be done during the summer 2011 campaign.

All assay results have now been received from the 2010 field prospecting campaign.

New Discoveries

In 2010, NEVADO discovered six (6) massive and one (1) disseminated magnetite-ilmenite lens. The massive magnetite-ilmenite lenses range from a range of 1 metre to 25 metres in width and 25 metres to 450 metres in length. Average grades for the massive lenses are in the range of 60% to 63% Fe2O3, 16.5% to 19.5% TiO2 and 0.07% to 0.17% V2O5 and are detailed in the following table:

OCCURRENCE NAME DISTANCE AVERAGE GRADES SAMPLE TYPE
% Fe2O3 % TiO2 % V2O5
MASSIVE MAGNETITE-ILMENITE LENSES
HERVIEUX EAST EXTENSION Km 01 63.1 19.4 0.112 2 channels, 32 channel grabs, 2 grabs
HERVIEUX NORTH EXTENSION 1 km NE of Hervieux East Extension 61.9 16.7 0.17 1 grab
FARRELL-TAYLOR Km 3 63.5 18.7 0.10 1 grab
LEDUC Km 18 63.5 17.4 0.11 4 grabs
LEDUC-FARRELL Km 21 60.0 19.6 0.07 25 channel grab samples
E. GIRARD Km 27 61.9 16.5 0.11 21 channel grabs
DISSEMINATED MAGNETITE-ILMENITE (5% TO 50%)
LAC LA BLACHE WEST Km 11 13.5 3.6 0.08 19 grabs
(1)Distance is the distance measured from the Hervieux East Extension Occurrence on the 45 kilometres magnetite-ilmenite ellipse or Ring of Iron-Titanium-Vanadium
(2)V2O5 average grade based on 32 channel grab and strictly grab samples only, no channel samples.

The La Blache Ring of Iron-Titanium-Vanadium

The La Blache Ring of Iron-Titanium-Vanadium (the "Ring") is a 45 kilometres long prospective target of iron, titanium and vanadium mineralization (refer to the appended Figure 1 location map). Highlights include:

  1. The target Ring forms an 18 kilometres by 10 kilometres ellipse encompassing a number of massive magnetite-ilmenite lenses within the La Blache Anorthositic Complex located 160 kilometres to 180 kilometres.
  1. The Ring is located entirely within the La Blache #1 and #2 claim blocks of NEVADO's La Blache 646 claims / 355 km2 Property.
  1. The Ring currently hosts nine (9) massive magnetite-ilmenite lenses of various lengths, depths and widths; two (2) of which are historical, discovered and explored in the 1950's and 1960's (Hervieux East and Hervieux West), and seven (7) are new discoveries made by NEVADO in 2010 (Hervieux East Extension, Hervieux Extension North, Farrell-Taylor, Lac La Blache West, Leduc, Leduc-Farrell and E. Girard Occurrences).
  1. The historic Hervieux East and Hervieux West Ocurrences host historic mineral resources of 79 million tonnes grading 68.7% Fe2O3, 20.5% TiO2 and 0.36% V2O5 situated outside NEVADO's Property but along the Ring some 2 kilometres and 5 kilometres west-southwest of NEVADO's Hervieux East Extension Occurrence, and demonstrate the upside tonnage and grade potential of individual lenses on the Property.
  1. Assays clearly demonstrate the continuity of the magnetite-ilmenite mineralization along the established 45 kilometre trend of the Ring and that assay grades are consistent across the full trend in the 60+% Fe2O3, 17+% to 23% TiO2 and 0.10% V2O5.

Quality assurance / Quality Control ("QA/QC")

Surface grab samples averaging 1 kilogram each were taken by qualified personnel from NEVADO under the supervision of Jean Lafleur, M.Sc., P. Geo., the La Blache Property 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 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.

Figure 1 Nevado's La Blanche Property : http://media3.marketwire.com/docs/LaBlancheProperty.pdf

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. 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.

Contact Information

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