TORONTO, ONTARIO--(Marketwire - June 11, 2009)
- Nevoro Inc. (TSX:NVR) ("Nevoro") is pleased to announce
completion of the first of a series of NI 43-101 Technical Reports on
its Stillwater project in south-central Montana. This first report,
titled "Stillwater Ni-Cu-Co-Cr-PGE Project, Stillwater and
Sweetgrass Counties, Montana USA" offers a detailed review of the
history, geology and exploration potential of Nevoro's Stillwater
properties. The Report is available for download on Sedar at www.sedar.com.
Mr. Bob Suda, an Independent Qualified Person as defined in NI 43-101,
served as the principal and senior author of the Report.
The Report points out that Nevoro's properties, which consist of 228
patented and unpatented mining claims totaling approximately 4,070
acres (1,647 hectares), cover some of the most intensely explored and
best mineralized portions of the Stillwater Complex and lie adjacent to
the JM Reef, which contains the largest and richest platinum group
elements (PGEs) concentrations yet found in the region. Nevoro's
properties include the areas of strongest Ni-Cu-Co mineralization,
strongest chromite mineralization and strongest PGE-chromitite
mineralization (beyond the JM Reef) recognized in the district.
The report describes the Mouat deposit as the most advanced Ni-Cu-Co
target on Nevoro's properties. The Report notes that the deposit was
drilled by Anaconda in the 1970s and contains historical resources,
according to Anaconda, of 23 million tons of 0.62% Ni and 0.45% Cu,
only partially delineated and open to depth (Nevoro has not done
sufficient work to classify the Ni-Cu-Co estimates as current
"mineral resources" or "mineral reserves" as
defined in NI 43-101, nor is Nevoro treating the historical estimates
as current mineral resources or mineral reserves. Notwithstanding the
foregoing, the Independent Qualified Person has reviewed the source
data and considers that this information is the most recent available
information and relevant enough to be provided herein.), and states:
"With the amount of past drilling and resource calculations, it
could be considered as an early-stage development target. Advancing this target to successive phase may be
possible with minimal expense. Verification sampling found anomalous
gold and PGE values in the Basal Series sulfides." Nevoro is
currently preparing a follow-up Technical Report to review and
determine if the data relating to the historical Ni-Cu resources is
sufficient to develop NI 43-101 resources.
In addition to Mouat, the Report describes several other Ni-Cu-Co
targets at various stages of exploration that are considered worthy of
additional work. These targets all have drill holes with interesting
intercepts over large enough areas to host potential mineral deposits
of significant size.
Regarding PGE targets, the Report notes that Nevoro's properties
include some of the most promising PGE targets in the district outside
of the JM Reef itself, and cites strong analogues to the PGE-rich UG2
chromitite seam in South Africa, which is currently the largest known
PGE deposit in the world. The authors consider that this possible
analogue was substantiated by the PGE intercepts encountered in
Nevoro's recent drill hole MV-08-02 in the Mountain View area, close to
the Mouat Ni-Cu-Co deposit. The thickness and grades in this hole are
comparable to the UG2 seam.
Finally, in regards to chromite mineralization, the Report mentions
that Nevoro controls the majority of the region's known chromite
resources. Extensive exploration and studies done by various companies
since the Korean War demonstrate in-place historical resources on
Nevoro's properties totaling approximately 50,000,000 tons of 22%
Cr2O3, the largest chromite resources in the United States (Nevoro has
not done sufficient work to classify the historical chromite estimates
as current "mineral resources" or "mineral
reserves" as defined in NI 43-101, nor is Nevoro treating the historical
estimates as current mineral resources or mineral reserves.
Notwithstanding the foregoing, the Independent Qualified Person has
reviewed the source data and considers that this information is the
most recent available information and relevant enough to be provided
herein.). Nevoro plans to initiate a third Technical Report to review
and assess the mineralization and resources of these chromite deposits.
The independent qualified person under National Instrument 43-101
responsible for all technical data reported in this news release is
Robert Suda.
For more information, please visit the Nevoro Inc. website at www.nevoro.com.
CAUTIONARY STATEMENT: All statements, other than historical fact,
contained or incorporated by reference in this news release, including
any information as to the future financial or operating performance of
Nevoro, constitute "forward looking statements" within the
meaning of certain securities laws, and are based on expectations,
estimates and projections as of the date of this news release. Such
"forward looking statements", reflects management's current
beliefs and are based on information currently available to management
of Nevoro. In some cases, forward-looking information can be identified
by terminology such as "may", "will",
"should", "expect", "plan",
"anticipate", "believe", "estimate",
"predict", "potential", "continue",
"intention" or the negative of these terms or other similar
expressions concerning matters that are not historical facts.
Forward-looking information in this news release includes but is not
limited to economic performance of Nevoro, statements regarding
potential mineralization and resource, exploration and future plans and
objectives of Nevoro, including exploration and development.
Forward-looking information involves significant risks and
uncertainties. A number of factors could cause actual events or results
to differ materially from the events and results discussed in the
forward-looking information including risks related to investments,
conditions of capital markets, economic conditions, dependence on key
personnel, interest rates, regulatory change and availability of future
financing. These factors should not be considered exhaustive. In
addition, in evaluating this information, investors should specifically
consider various factors, including risk factors, which may cause
actual events or results to differ materially from any forward-looking
statement. In formulating forward-looking information herein,
management has assumed that business and economic conditions affecting
Nevoro will continue substantially in the ordinary course, including
without limitation with respect to general levels of economic activity,
regulations, taxes, interest rates and that there will be no material
changes. Although the forward-looking information is based on what
management of Nevoro considers to be reasonable assumptions based on
information currently available to it, there can be no assurance that
actual events or results will be consistent with this forward-looking
information, and management's assumptions may prove to be incorrect.
This forward-looking information is made as of the date of this press
release, and Nevoro does not assume any obligation, except as required
by law, to update or revise them to reflect new events or
circumstances. Undue reliance should not be placed on forward-looking
information.
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