Nuinsco Resources Limited (OTCMKTS:NWIFF) (CSE:NWI) Stock Falls: Company Announces Key Operational Updates

Shares of Nuinsco Resources Limited (OTCMKTS:NWIFF) (CSE:NWI) pulled back on Wednesday after gaining momentum in the past week.

Market Stats

On Wednesday, NWIFF stock decreased by 6.54% to $0.0121 with more than 2.1k shares, compared to its average volume of 25.5k shares. The stock moved within a range of $0.0121 – 0.0121 after opening trading at $0.0121.

Nuinsco Mulls over Further Exploration at Zig Zag Lake Critical Minerals Property

Thanks to successful initial sampling in the autumn of 2021, at the Zig Zag Lake critical minerals property, Nuinsco Resources Limited (OTCMKTS:NWIFF) (CSE:NWI) has announced that it is working towards the next steps to evaluate this prospective project. The property is approximately situated 68 kms. east-northeast of Armstrong, Ontario. The incentive to expand exploration is perhaps due to the exceptionally high price of lithium – now trading at approximately $59/kg for battery grade lithium carbonate (increased almost 9 times since the start of 2021).

The initial sampling program at Zig Zag Lake covered several locations along only 160 m of the known strike length of 800 m. It resulted in collection of widespread samples assaying for lithium, and other critical minerals. Lithium grades peaked at 3.55% Li2O, with remarkable tantalum, and rubidium results peaking at 836 ppm Ta2O5, and 4,003 ppm Rb2O.

This property encompasses pegmatite hosted lithium-tantalum mineralization with considerable cesium mineralization being reported too. Critical minerals like lithium and tantalum are vital for speeding up the transition process to a low-carbon economy. On the other hand, rubidium has applications in electronics, medical imaging, and specialty glass.

31 critical minerals have been identified by the Government of Canada, which includes many of those identified at the company’s Zig Zag Lake and Prairie Lake properties. They are touted to be very important for the continued economic success of Canada and its allies under its Canadian Minerals and Metals Plan.

Key Quote

“Zig Zag Lake has over 800m of known strike. Our initial sampling program covered numerous locations along only 160m of that known strike length and resulted in the collection of widespread samples assaying for lithium as well as other critical minerals,” said Paul Jones, CEO.

Traders Corner

NWIFF stock is below the 20-Day and 50-Day Moving averages of $0.0125 and $0.0124 respectively. The stock is trading in the neutral zone with the RSI at 46.