Nevado Resources Corporation

Nevado Resources Corporation

September 21, 2010 08:54 ET

NEVADO Cuts Up to 62.8% Iron and 19.6% Titanium Over 12 m in Surface Channel Samples at the Main 120 Metres Long Hervieux East Extension Occurrence, La Blache Iron-Titanium Property (Quebec)

MONTREAL, QUEBEC--(Marketwire - Sept. 21, 2010) - (TSX VENTURE:VDO)(FRANKFURT:NSV) -

  • Hervieux East Extension consists of a 120 metre long by 35 metre wide surface exposure of massive black magnetite (Iron oxide) and ilmenite (Titanium oxide)
  • Assays still pending from 32 additional grab samples taken along the full length of the magnetite-ilmenite occurrence
  • Second lens found 100 m to the north
  • Additional work planned to test the full extent of the Iron-Titanium lenses

NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or "Nevado) is pleased to announce initial assay results from 3 channel samples of the summer 2010 exploration program on the Company's wholly-owned 25 claim La Blache #1 Iron-Titanium-Vanadium Property ("La Blache #1" or the "Property"). The 13.6 km2 Property is located 145 km north of Baie-Comeau along Quebec's North Shore region and is also situated near Hydro-Quebec's Manic 3 and Outardes River Hydro-electric Reservoirs.

NEVADO received assay results from channel sampling along a 25 m segment of the 120 m long by 35 m wide magnetite-ilmenite exposure at the Hervieux East Extension Occurrence ("Hervieux East Extension"). The entire length of the occurrence was sampled with 32 (25 cm by 10 cm by 15 cm deep) saw-cut grab samples with assay results still pending. Iron and Titanium assay results are as follows for the 3 channel samples:

Channel Sample # % Fe2O3 % TiO2 Sample Length (metres)
1 62.8 19.6 12.0
2 60.8 19.5 6.0
3 62.1 20.0 7.0

Note: Channel samples averaging 0.75 kg each were taken by Bertrand Brassard, P. Geo., Director and VP Exploration of NEVADO. Samples were bagged, sealed, numbered and delivered to the ALS Laboratory Group facility in Val-d'Or (Quebec) for analysis using the ME-S81 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 μm; then followed by analysis.

The first phase of the summer program on the Property consisted of detailed prospecting and grab/channel sampling along known and potential extension of magnetite-ilmenite lenses to establish continuity and grades. The objective is to eventually prove up in the near-term iron-titanium Mineral Resources. Previous reconnaissance work in Q4-2009 encountered a number of magnetite-ilmenite lenses along a 7.5 km magnetic corridor on the Property. Grab samples taken from a known historical showing, the Hervieux East Extension, gave an average of 51.6% Fe2O3 (Iron oxide), 18.6% TiO2 (Titanium oxide) and 0.068% V2O5 (Vanadium oxide) (refer to the Nevado news release dated March 30, 2010).

Apart from the ain exposure at the Hervieux East Extension, NEVADO has uncovered a sub-parallel unit 100 m to the north. The Hervieux East Extension occurs along the western portion of a kilometric magnetic high signature on the Property. Based on previous and current assay results NEVADO immediately plans to evaluate the full size and grade potential of both magnetite-ilmenite lenses at the Hervieux East Extension with additional outcrop stripping, trenching, surface channel/grab sampling and assaying, and drilling. NEVADO is fully funded for the work having raised $2.25 million in 2009.

The Hervieux East Extension is composed of magmatic iron-titanium bearing magnetite-ilmenite lenses associated with the La Blache Anorthositic Complex (the "LBAC"). The LBAC extends 35 km in a northeast-southwest direction by 15 km across, hosting a series of magnetite-ilmenite rich lenses some 10's to 100's metres in size along a 15 km long mineralization corridor, of which Nevado owns outright 7.5 km of the total trend length with the remaining corridor being held by Argex Mining Inc., which just completed a significant diamond drilling campaign, and has reported diamond drilling intervals assay results up to 161.25 m grading 60.93% Fe2O3, 18.29% TiO2 and 0.48% V2O5 (drill hole HW-10-001) (

According to the Ministère des ressources naturelles et de la faune Québec Deposit File 22K/04-0001 the La Blache iron-titanium mineralization was originally discovered in 1952 and subsequently explored in the 1960's by the Bersimis Mining Company which used airborne magnetic techniques to identify a series of surface iron-titanium lenses over the 15 km trend covering several occurrences (refer to the appended map for details). Historic work evaluated mineral resources of 71.67 million tonnes grading 48% Iron (Fe2O3) and 20.5% Titanium (TiO2). The historical mineral resources quoted is non-compliant to NI 43-101 Mineral Resource standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to classify the historical resource as current NI 43-101 compliant Mineral Resources. There is no guarantee that any future exploration would upgrade the historical Mineral Resources into current Mineral Resources. At this time it is not known if any or part of the historical mineral resources occurs on Nevado's La Blache #1 Property.

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.

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.

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