Nuinsco Resources Limited (TSX:NWI) announced drilling results indicate a deposit at its Diabase Peninsula uranium property in Canada.
As quoted in the press release:
Recent drilling has provided additional anomalous uranium results, with two of the three holes returning assays well in excess of the necessary 10 parts-per-million (“ppm”) uranium (“U”), providing further indication of the pervasive and substantial mineralizing event that affected the rocks in the area.
Nuinsco’s President, Paul Jones said:
Greater than 10ppm uranium in sandstone is evidence of a mineralised system and proximity to concentrations of high-grade mineralization. Nuinsco has now drilled 42 holes totalling 17,356m. Of these, a remarkable 33% have returned samples with uranium content exceeding 50ppm and 67% have returned values greater than 10ppm uranium – serving to further reinforce and highlight the outstanding scale of anomalous mineralization at Diabase.