MONTREAL, QUEBEC -- (Marketwire) -- 06/22/11 -- NEVADO RESOURCES CORPORATION (TSX VENTURE: VDO)(FRANKFURT: NSV) (the "Corporation" or "NEVADO") today announced the possibility of a significant upgrade in Vanadium assay results on drill cores from the massive oxides mineralization at the Corporation's wholly-owned La Blache Iron-Titanium-Vanadium Project. The possible upgrade follows recent Quality Assurance and Quality Control ("QA/QC") work on drill cores from the Corporation's winter 2011 drill campaign.
The QA/QC work conducted on hole FT-10-09 revealed individual and interval assay grades almost four times higher than reported by NEVADO. A 27.6 metre interval from drill hole FT-10-09 (Azimuth 360, Dip -55 and Length 359 metres) had originally yielded 0.10% V2O5 (using the ME-MS81 preparation and assay method), whereas control testing using a different sample preparation protocol and assay method (using the ME-MS61 preparation and assay method as more fully described hereafter) found 0.37% V2O5 in the same interval. The results are outlined in the following table:
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DDH # AZIMUTH / % %
DIP / FROM TO CORE V2O5 V2O5
LENGTH (m) (m) (m) LENGTH(1)(ME-MS81)(2) (ME-MS-61)(3)
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329.8 330.3 0.5 0.13 0.35
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330.3 331.3 1.0 0.11 0.38
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331.3 332.2 0.9 0.12 0.12
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332.2 333.0 0.8 0.08 0.32
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333.0 334.0 1.0 0.10 0.38
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334.0 335.0 1.0 0.07 0.39
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335.0 336.0 1.0 0.07 0.39
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336.0 337.0 1.0 0.10 0.37
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337.0 338.0 1.0 0.12 0.39
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338.0 339.0 1.0 0.14 0.39
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339.0 340.0 1.0 0.14 0.41
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340.0 341.0 1.0 0.15 0.38
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341.0 342.0 1.0 0.12 0.39
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342.0 343.0 1.0 0.10 0.42
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343.0 344.0 1.0 0.07 0.40
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FT-10-09 000 degrees /
-55 degrees
/ 359 344.0 345.0 1.0 0.11 0.41
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345.0 346.0 1.0 0.13 0.42
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346.0 347.0 1.0 0.09 0.39
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347.0 348.0 1.0 0.15 0.38
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348.0 349.0 1.0 0.12 0.39
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349.0 350.0 1.0 0.08 0.39
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350.0 351.0 1.0 0.07 0.39
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351.0 352.0 1.0 0.11 0.39
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352.0 353.0 1.0 0.12 0.39
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353.0 354.0 1.0 0.11 0.38
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354.0 354.5 0.5 0.11 0.36
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354.5 354.9 0.4 0.10 0.08
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354.9 355.6 0.7 0.09 0.40
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355.6 356.5 0.9 0.03 0.03
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356.5 357.4 0.9 0.10 0.40
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AVERAGES 27.6 metres 0.10% V2O5 0.37% V2O5
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Notes:
(1) Core lengths in metres of massive oxides.
(2) Assay results using the ME-MS81 sample preparation and analytical protocol.
(3) Assay results using the ME-MS61 sample preparation and analytical protocol.
As a result of the aforementioned test results revealed through QA/QC work on hole FT-10-09, NEVADO has commissioned ALS Laboratories of Val-d'Or (Quebec) and Vancouver (British Columbia) to re-assay all drill core samples from the Farrell-Taylor drill campaign for Vanadium using the ME-MS61 Four Acids Near-Total Digestion sample preparation and ICP-MS / ICP-AES Analytical Methods. Independent QA/QC work will be done to validate the Vanadium assays.
Michael Curtis, President and CEO of NEVADO, stated "The possible upgrade in Vanadium could potentially have a major impact based on a price of US$30,000 per tonne (www.InfoMine.com), equivalent to US$13.65 per pound or US$30 per kilogram of Vanadium Pentoxide at La Blache as NEVADO aims to have a National Instrument 43-101 compliant mineral resources later this year on the Farrell-Taylor Occurrence. NEVADO will ensure that all future Vanadium assay grades are an accurate representation of the metal content in the oxide mineralization at La Blache. At this point, NEVADO is satisfied that the current Iron and Titanium assay grades do reflect the metal content of the oxide mineralization based on the historical assay grades in the La Blache sector."
Assay Methodology and QA/QC Process
The drill cores from diamond drill holes were transported by helicopter from the drill sites to the NEVADO core logging facility located some 25 km to the west of the Farrell-Taylor drill sites and showing. There, geologists and technicians, under the supervision of Jean Lafleur, M.Sc., P. Geo., the La Blache Property Project Manager, logged, sample tagged and half-splitted core in 0.25 metre to 1.0 metre lengths using a hydraulic splitter. The individual sampled intervals of half-split core were then inserted in tagged plastic bags, sealed and inserted in large nylon bags readied for shipment to the ALS Laboratory Group facility in Val-d'Or (Quebec). Blanks and duplicates were inserted in the sample stream on-site at every 20 core samples.
Once at the assay laboratory, samples were inventoried using the bar code tracking system, dried, finely crushed to 70% at less than 2 mm, pulverized split to 85% at less than 75 um, and a 250 gram fraction was riffle-split for the various assays using the Whole Rock Package (the ICP-AES Analytical Method) for Al2O3, BaO, CaO, Cr2O3, Fe2O3, K2O, MgO, MnO, Na2O, P2O5, SiO2, SrO and TiO2; 38 Element Fusion ICP-MS (ME-MS81 Analytical Method using a Lithium Borate Fusion of samples prior to acid dissolution and ICP-MS Analysis) 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 at 1000 degrees C; and the ICP-06 Package for Total Calculation.
Part of the Quality Control and Quality Assurance program consisted of taking one massive oxide interval and re-assaying using a different preparation and analytical protocol to ensure precision and accuracy of assays. The preparation protocol used the Four Acids Near-Total Digestion to quantitatively dissolve all elements in each sample, then assayed using the ICP-MS and ICP-AES Analytical Methods.
Mineralization Identified in Winter 2011 Drill Campaign
The winter 2011 drill campaign was recently completed by NEVADO on the Farrell-Taylor Showing with 32 drill holes for 9,618 metres. NEVADO has already reported assay results for FT-10-01 to FT-10-20. Assay results from the remaining 12 drills holes (FT-10-21 to FT-10-32) are still pending.
Massive, semi-massive, vein-type and disseminated (greater than 10%) oxides mineralization was intersected in 25 of 32 drill holes, while 7 drill holes were either drilled outside the zone on purpose to define the oxides corridor or were drilled too shallow and above the mineralization.
Based on the drilling and the concurrent geophysical modelling, the massive and semi-massive to vein-type oxide mineralization now extends 1.5 kilometres in down-dip length, 350 metre to 750 metres across and averages over 115 metres width based on drill core lengths representing a significant volume of mineralized material which is visually distinct from the surrounding hard, less dense and mauve coloured host anorthosites, since 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.
All released drill hole and field sample assay results from 2010 and 2011 have shown similar grades for the massive and semi-massive to vein-type oxide Iron, Titanium and Vanadium over the entire 45 km long La Blache Ring of Iron-Titanium-Vanadium of which NEVADO owns directly more than 37 km. Grades in the massive oxides range in the 59% to 70% Fe2O3, 17% to 22% TiO2 and 0.05 to 0.15% V2O5. The higher grades are situated in the more massive oxides that are surrounded by anorthosites containing 5% to 25% disseminated and vein-type oxides ranging from a few metres to more than 100 metres in core length which gave lower grades in the ranges of 15% to 45% Fe2O3, 5% to 15% TiO2 and 0.03% to 0.10% V2O5.
The technical information in this news release was prepared, reviewed and approved by Mr. Jean Lafleur, M.Sc., P. Geo., Project Manager, NEVADO's La Blache Property, a Qualified Person under NI 43-101 regulations.
Please visit our website at www.nevado.ca
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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Contacts:
Mr. Michael Curtis
President and CEO
(514) 793-1915
www.nevado.ca
