Nuinsco Resources Ltd. (TSX: T.NWI, Stock Forum) announced further positive analytical results from the final nine holes completed in November 2012 on CBay Minerals Inc.'s Portage Island gold in northern Quebec.
The Portage Mine, located in the Chibougamau mining camp, is only one of three past-producing copper/gold mines that are 100%-owned by CBay and located on Portage Island.
According to the Nuinsco Resources press release, multiple intercepts grading greater than 20.0 grams per tonne gold were returned, with the highest grade core-length intercept, over 0.25 metres grading 93.20 grams per tonne gold, coming from a newly-identified geophysical target.
The Portage Island claim group hosts numerous underexplored exploration targets, including the Baie du Commencement copper/gold zone, Hematite Bay gold and copper zones and two magnetite bodies - the Magnetite North and Magnetite South zones.
Nuinsco is a growth-oriented, multi-commodity mineral exploration company that is focused on world-class mineralized belts in Canada and internationally.
On Tuesday morning, Nuinsco was trading at $0.03 a share. The company has a market cap of $8.9 million, based on 295.5 million shares outstanding. The 52-week high and low was $0.105 and $0.025 respectively.