Nevado Resources Corporation
TSX VENTURE : VDO
FRANKFURT : NSV

Nevado Resources Corporation

December 02, 2010 07:00 ET

NEVADO New Assays Average 61.9% Iron, 16.5% Titanium and 0.11% Vanadium from 21 Channel Samples on the 450 Metres Long E. Girard Occurrence at the La Blache Property (Quebec)

MONTREAL, QUEBEC--(Marketwire - Dec. 2, 2010) - NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO)(FRANKFURT:NSV) (the "Company" or "NEVADO") is pleased to announce additional Iron, Titanium and Vanadium assay results from the recently discovered massive magnetite-ilmenite E. Girard Occurrence ("Girard") found during the summer-fall 2010 exploration program on the Company's wholly-owned 646 claims / 355 km2 La Blache Iron-Titanium-Vanadium Property (the "Property") (refer to the NEVADO news release dated November 10, 2010).

E. Girard (at Km 27, moving clockwise along the 45 kilometre ellipse) is located 13 km southeast of Hervieux-East Extension. The occurrence is fully accessible via logging roads and extends for at least 450 metres. Here the massive magnetite-ilmenite occurs as a single 1 m to 5 m lens with sharp contacts, suggesting an intrusive.

Twenty-one (21) channel samples were taken at regular intervals along the 450 metres strike length of the occurrence. Average assay results are 61.9% Iron (expressed as Iron Oxide or Fe2O3), 16.5% Titanium (TiO2) and 0.11% 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
701157 58.8 14.8 0.18 701178 67.0 18.3 0.10
701158 63.3 15.1 0.17 701179 64.4 18.7 0.05
701159 65.5 17.8 0.09 701180 65.4 20.0 0.14
701160 63.4 18.2 0.16 701181 67.4 18.8 0.04
701161 50.4 11.3 0.13 701182 58.1 15.5 0.18
701163 58.2 13.6 0.07 701183 63.8 16.6 0.14
701165 64.6 15.6 0.12 701184 60.4 16.2 0.12
701174 57.5 15.4 0.12 701185 61.3 15.5 0.10
701175 54.8 14.5 0.11 701186 65.7 19.2 0.09
701176 66.7 17.5 0.09 701187 69.0 19.7 0.09
701177 54.7 14.3 0.13  AVERAGE 61.9 16.5 0.11

Note: Surface channel samples averaging 2 kg each were taken by Company qualified personnel under the supervision of Jean Lafleur, M.Sc., P. Geo., the 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.

Again, the grades of the magnetite-ilmenite surface channel and grab samples are comparable to the previous channel and surface channel grab samples taken earlier from the initial 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 grab samples taken at the Leduc, Farrell-Taylor and the Lac La Blache West magnetite-ilmenite occurrences.

NEVADO is in the final preparation stage of the minimum 3,500 m diamond drill program on the Property. All of the geophysical and geological data has been synthesized and interpreted, and the campaign was fully permited by the Ministère des Ressources naturelles et de la Faune. NEVADO plans to outline the full-size and grade potential of these magnetite-ilmenite lenses with the ultimate goal of eventually proving up significant near-term iron-titanium-vanadium mineral resources across the Property. 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.

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