Nuinsco Resources Ltd. officials will be at the Chapple Community Centre in Barwick tonight to outline the current status of their Rainy River District mine exploration project at the first of three information sessions slated this week.
The second session goes tomorrow evening at the Red Dog Inn here in Fort Frances, with the final meeting set for Friday night at the Nestor Falls Community Centre.
Doors open at 6:30 p.m. for all three sessions, with the meeting starting at seven.
Douglas Hume, the president and CEO of Nuinsco who arrived in the area yesterday from Toronto, will be on hand for all three meetings to address concerns over an apparent slowdown in operations at the company’s Richardson Township properties.
While Hume admitted there hadn’t been any visible field work done over the past few months, he stressed that didn’t mean the project was at a standstill.
“Work in the field has been very quiet pretty well since late spring,” he noted yesterday from Nuinsco’s office in Emo. “We haven’t been doing any diamond drilling or any work that involved much in the field.
“A lot of people are concerned about what’s happening, and they’re wondering if we’ve given up on exploration or what’s doing?” he added.
But Hume said some important study projects have been done in the meantime.
“We’ve been doing analysis and research on what was developed through the winter and spring, and the purpose of it was to try to define diamond drilling targets that we could pursue in the next phase of work,” he explained.
Hume did allude to one problem plaguing Nuinsco’s progress these days–a poor showing on the stock market. But he also said the company was rallying on and trying to raise additional operating dollars.
“One problem we’ve had, as I’m sure you are aware, is the market situation on a world scale,” he said. “It causes a lot of disruptions in peoples’ lives, including ours.”
Hume also said the recent Bre-X scandal was still casting a cloud over the mining industry, and that the market had not yet recovered from the rippling effect.
“[The industry] has been aggravated by the Bre-X affair but we’ve not been as badly hit as those with operations in exotic lands,” he noted, adding mining operations in Canada face much closer scrutiny.
“We are currently trying to raise additional funds and we are confident that with that funding, we will continue this effort,” he pledged.
Hume said a similar informational “road show” two or three years ago here generated a very good response from the public and hoped the same would occur this week.
The sessions will feature a slide presentation of present-day operations at Nuinsco’s Richardson Township properties, as well as touch on future plans for the exploration project there.
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