Nevado Resources Corporation

Nevado Resources Corporation

April 07, 2011 08:13 ET

NEVADO Intersects Up to 62.6 Metres Grading 59.8% Fe2O3 (41.8% FeT), 17.9% TiO2 and 0.08% V2O5 From the Farrell-Taylor Occurrence On-Going Diamond Drilling Campaign at...

...the La Blache Property (Quebec)

- FT-10-05: 63 metres grading 59.8% Fe2O3 (41.8% FeT), 17.9% TiO2 and 0.08% V2O5

- FT-10-06: 20 metres grading 59.7% Fe2O3 (41.7% FeT), 17.5% TiO2 and 0.11% V2O5

- FT-10-07: 48 metres grading 62.09% Fe2O3 (43.3% FeT), 19.1% TiO2 and 0.09% V2O5

MONTREAL, QUEBEC--(Marketwire - April 7, 2011) - NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or "NEVADO") is pleased to report on the third batch of drill assay results from the 2011 helicopter-supported diamond drilling campaign on the Company's wholly-owned La Blache Iron-Titanium-Vanadium Project (the "Project"). NEVADO has now completed 20 drill holes for just over 6,000 m of the planned 10,000 m drilling campaign on the Farrell-Taylor Iron-Titanium-Vanadium Occurrence, and has already reported assay results for FT-10-01, FT-10-02, FT-10-03 and FT-10-04.

The new assay intervals reported here are from FT-10-05, FT-10-06 and FT-10-07:

DIP (degrees)/
SECTION A-A' (1.27 km west of showing)
FT-10-01(2) 180 / -70 / 223 33   64.5 45.1 17.7 0.07
116.2(4 ) 32.7 25.5 9.7 0.09
FT-10-02(3) 180 / -70 / 192 23   58.9 41.1 17.5 0.12
37.9(4 ) 48.0 33.6 13.4 0.09
FT-10-03(3) 180 / -70 / 289 n/a(5)
FT-10-06 000 / -55 / 205 19.9   59.7 41.7 17.5 0.11
32.6(4 ) 41.6 29.1 12.0 0.08
FT-10-08(3) 000 / -55 / 316 75   pending
SECTION B-B' (1.15 km west of showing)
FT-10-04(3) 180 / -70 / 291 81   59.2 41.4 18.1 0.09
96.5(4 ) 50.2 35.1 15.4 0.08
FT-10-05 180 / -70 / 233 62.6   59.8 41.8 17.9 0.08
153.2(4 ) 36.0 25.2 10.8 0.06
FT-10-07 000 / -55 / 307 48.1   62.0 43.3 19.1 0.09
116.5(4 ) 37.1 25.9 11.3 0.06
FT-10-10(3) 180 / -75 / 296 n/a(5)
SECTION C-C' (0.97 km west of showing)
FT-10-09 000 / -55 / 359 122   pending
(1) Core lengths in metres of massive oxides.
(2) Previously announced on February 3, 2011.
(3) Previously announced on March 23, 2011.
(4) Wider intervals include disseminated (>10%), vein and semi-massive oxides mineralization surrounding the massive oxides.
(5) n/a – not applicable, since drilled outside the limits of the oxides mineralization.

To date, the massive oxides mineralization has been confirmed in 13 of 20 holes; 2 other holes were outside the limits of the oxides mineralization; and 5 holes were drilled in the disseminated (>10%), vein and semi-massive oxides mineralization surrounding generally massive oxides. To date assay results have been received for 7 drill holes. All other drill hole assays are pending.

All released 2011 drill hole and 2010 field sample assays show similar grades in Iron, Titanium and Vanadium over the entire 45 km long La Blache Ring of Iron-Titanium-Vanadium, an elliptical structure located inside the La Blache Anothositic Complex. Grades in the massive oxides range in the 59% to 65% Fe2O3, 17% to 20% TiO2 and 0.05 to 0.15% V2O5. The massive oxides are visually distinct from the surrounding hard, less dense and mauve coloured host rocks; they consist of softer, dense mixed magnetite-ilmenite having metallic brown and dark grey to black colours. The massive oxides mineralization is believed to be part of a series of sub-vertical, inclined and sub-horizontal dykes, sills, veins, stockworks and disseminations emplaced along multi-kilometric circular and elliptical configurations within the 35 km by 12 km La Blache Anorthositic Complex, such as the La Blache Ring of Iron-Titanium-Vanadium. The higher grades are situated in the more massive oxides surrounded by anorthosites containing 5% to 25% disseminated and vein-type oxides ranging from a few metres to more than 100 m in core length which gave lower grades.

NEVADO's 10,000 m diamond drilling program is progressing as planned and will test three of the higher priority massive oxide occurrences (Farrell-Taylor, Hervieux East Extension and Lac La Blache West) due to their size potential, and is expected to be completed in Q2-2011. 

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

The core from diamond drill holes is transported by helicopter from the drill sites to the NEVADO core logging facility located some 25 km to the west of the Farrell-Taylor Showing. There, geologists and technicians from PJLEXPL Inc., a full-service exploration contractor from Laval (Quebec) under the supervision of Jean Lafleur, M.Sc., P. Geo., the La Blache Property Project Manager, log, sample tag and half-split the core in 0.25 m to 1.0 m lengths using a hydraulic splitter. The individual sampled intervals of half-split core are then inserted in tagged plastic bag, sealed and inserted in large nylon bags readied for shipment to the ALS Laboratory Group facility in Val-d'Or (Quebec). Blanks and duplicates are inserted in the sample stream on-site at every 20 core samples.

Once at the assay laboratory, samples are inventoried using the bar code tracking system, dried, finely crushed to 70% at <2 mm, pulverized split of to 85% at <75 μm, and riffle split a 250 gram fraction for the various assays using the Whole Rock Package (ICP-AES) for Al2O3, BaO, CaO, Cr2O3, Fe2O3, K2O, MgO, MnO, Na2O, P2O5, SiO2, SrO and TiO2; 38 Element Fusion ICP-MS for Ag, Ba, Ce, Co, Cr, Cs, Cu, Dy, Er, Eu, Ga, Gd, Hf, Ho, La, Lu, Mo, Nb, Nd, Ni, Pb, Pr, Rb, Sm, Sn, Sr, Ta, Tb, Th, Tl, Tm, U, V, W, Y, Yb, Zn and Zr; Loss on Ignition ("LOI") at 1000°C; and Total Calculation for ICP-06.

The technical information in this news release was prepared, reviewed and approved by Mr. Nabil Tarbouche, P. Geo., and Mr. Jean Lafleur, M.Sc., P. Geo., Project Geologist and Project Manager, respectively, of NEVADO's La Blache Property. 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.

Contact Information

  • Nevado Resources Corporation
    Mr. Michael Curtis
    President and CEO