MONTREAL, QUEBEC -- (Marketwire) -- 12/06/10 -- 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 Leduc Occurrence found during the summer-fall 2010 exploration program on the Company's wholly-owned 646 claims / 355 km(2) La Blache Iron-Titanium-Vanadium Property (the "Property") (refer to the NEVADO news release dated November 10, 2010).
The Leduc Occurrence (at Km 18, moving clockwise along the 45 kilometre ellipse) is located 7 km southwest of the Hervieux-East Extension Occurrence, and is defined by a series of metric-sized and angular magnetite-ilmenite boulders on top of bedrock of the same covering 100 m(2). Average assay results from the four (4) grab samples taken are 63.5% Iron (expressed as Iron Oxide or Fe2O3), 17.4% Titanium (TiO2) and 0.11% Vanadium (V2O5). Individual assay results in Iron, Titanium and Vanadium are as follows:
----------------------------------------
GRAB % % %
SAMPLE # Fe2O3 TiO2 V2O5
701169 63.7 17.6 0.12
701170 62.2 17.3 0.09
701172 62.0 16.7 0.13
701173 66.2 17.9 0.09
AVERAGE 63.5 17.4 0.11
----------------------------------------
Note: Surface grab samples averaging 1 kg each were taken by Company qualified personnel 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.
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).
The La Blache Ring of Iron-Titanium-Vanadium
A total of seven (7) new massive magnetite-ilmenite lenses were discovered during the 2010 regional reconnaissance program on the Property by inferring that the known Hervieux East, Hervieux-East Extension, Hervieux West and Schmoo Lake magnetite-ilmenite occurrences bearing iron, titanium and vanadium appears to be aligned within a 200 m wide zone. The zone is part of a 45 km long corridor forming the perimeter of an 18 km by 10 km ellipse. Assay results have now been received on five (5) lenses, with assays pending from the Farrell-Taylor Occurrence and the Lac La Bache West Occurrence.
The new lenses with complete assay results are:
1. Two surface grab samples were taken from the Hervieux East Extension
Occurrence (at Km 0) and yielded 67.6% and 64.3% Fe2O3, 21.4% and 17.6%
TiO2, and 0.14% and 0.07% V2O5. The samples were taken 80 metres north
of the original 125 long outcrop. The grades were comparable to the
previous channel and surface channel grab samples taken earlier in the
year from Hervieux East Extension where samples yielded up to 12.0
metres of 62.8% Fe2O3 and 19.6% TiO2, and 7.0 metres 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 and October 28, 2010). Hervieux-East
Extension now stretches over 200 metres, from the original 125 metres,
over a minimum width of 35 metres, and remains open on all sides.
2. A third surface grab sample was taken 1 kilometre north of the Hervieux
East Extension and assayed 61.95% Fe2O3, 16.7% TiO2 and 0.17% V2O5, and
constituted the newly discovered Hervieux North Extension Occurrence.
The magnetite-ilmenite zone is situated at the base of a 30 metre cliff
of magnetite-ilmenite bearing anorthosite.
3. The Leduc-Farrell Occurrence (at Km 21) is located 9 km southwest of the
Hervieux-East Extension Occurrence, and is a minimum 100 m in length by
10 m wide. The entire length of the occurrence was sampled with 25 (25
cm by 10 cm by 10 cm deep) saw-cut surface channel samples of magnetite-
ilmenite. Average assay results are 60.0% Iron (expressed as Iron Oxide
or Fe2O3), 19.6% Titanium (TiO2) and 0.07% Vanadium (V2O5).
4. The E. Girard Occurrence (at Km 27) is located 13 km southeast of
Hervieux-East Extension extends for at least 450 metres, and is fully
accessible via logging roads. Here the massive magnetite-ilmenite occurs
as a single 1 m to 5 m lens with sharp contacts, suggesting an intrusive
contact. Some 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).
La Blache Property Diamond Drilling Program
NEVADO has mobilized its technical crew to the Property in anticipation of the upcoming minimum 3,500 m diamond drill program. NEVADO has received permission from the Ministere des Ressources naturelles et de la Faune for the drill campaign. NEVADO plans to outline the full-size and grade potential of the magnetite-ilmenite lenses with the ultimate goal of eventually proving up significant near-term bulk 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.
Contacts:
Nevado Resources Corporation
Mr Guy Girard
President and CEO
514-798-1290
www.nevado.ca
