Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 October 20, 2015 - 9:20 AM EDT
Print Email Article Font Down Font Up Charts


North American Nickel Reports New Nickel Sulphide Intersections at P-032 Target

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 20, 2015) - North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF) (CUSIP:65704T 108) (the "Company" or "NAN") is pleased to report that assays have been received from diamond drilling carried out at the mineralized P-032 and P-030 targets as well as from other regional exploration targets on their 100% owned Maniitsoq nickel-copper-cobalt-PGM sulphide project in southwest Greenland. Thirty diamond drill holes totalling 5,655 metres were completed during the 2015 field season. Results for eight holes are reported in this release and the Company is awaiting assay results from ten remaining holes.

Highlights from the P-032 target include:

  • MQ-15-090: 13.8 metres of 0.79% Ni and 0.27% Cu including:
    • 5.1 meters of 1.06% Ni and 0.37% Cu and
    • 1.5 metres of 2.47% Ni and 0.69% Cu

NAN CEO, Keith Morrison, commented: "P-032 represents a new area with significant nickel mineralization in the southern part of the Maniitsoq property and is an expansion of the P-030 norite trend. In addition, mineralization at P-030 continues to show elevated precious metal values. These new results contribute to our understanding of the Maniiitsoq mineralized systems and we look forward to reporting remaining assay results."

This release summarizes the results for the eight holes totalling 1,184 metres from the 2015 Maniitsoq drill program. The drill program is part of the Company's continued systematic exploration of the Maniitsoq property. Two holes were completed to follow-up previously intersected nickel mineralization at the P-032 and P-030 targets and six holes tested five regional exploration targets. One additional follow-up hole was completed at P-032 for which assays are pending.

Drill collar information and a summary of assays are provided in Tables 1 and 2, respectively. A regional location map (Figure 1) and a P-030/32 drill plan map (Figure 2) may be viewed using the link provided with this release.

Table 1: Drill Collar Information

Hole Number UTM
East
UTM
North
Elevation
(m)
Length
(m)
Azimuth Dip Area
MQ-15-086 459074 7213310 303.93 158 4 -50 P-038
MQ-15-087* 456514 7209909 390.85 20 86 -59 P-051
MQ-15-088 456514 7209909 390.85 143 88 -65 P-051
MQ-15-089 471449 7216968 245.89 189 330 -45 P-030
MQ-15-090 472654 7217518 199.35 209 244 -68 P-032
MQ-15-091 474748 7212317 387.90 125 145 -55 P-319
MQ-15-092 473136 7212511 482.13 95 180 -60 P-314
MQ-15-093 475830 7241672 526.51 245 237 -62 P-012
MQ-15-100 472688 7217498 210.20 209 240 -57 P-032
Notes:
Collar coordinates in UTM WGS84 Zone 22N
*Hole MQ-15-087 was terminated at 20m due to an incorrect dip and re-collared as hole MQ-15-088.

Table 2: Assay Results

Hole Number   From
(m)
To
(m)
Core
Length
(m)
Ni
%
Cu
%
Co
%
S
%
TPM
g/t
Target
P-032
MQ-15-090   19.20 20.20 1.00 0.41 0.09 0.02 2.37 0.04 P-032
                     
    55.20 55.65 0.45 1.22 0.51 0.04 6.57 0.11  
                     
    71.90 85.70 13.80 0.79 0.27 0.02 4.04 0.07  
  incl. 71.90 77.00 5.10 1.06 0.37 0.03 5.58 0.09  
  and 84.20 85.70 1.50 2.47 0.69 0.08 12.61 0.23  
                     
    91.35 93.70 2.35 0.95 0.21 0.02 5.01 0.07  
                     
MQ-15-100         AP         P-032
                     
P-030
MQ-15-089   21.90 23.25 1.35 0.47 0.21 0.02 2.30 0.12 P-030
                     
    33.95 43.50 9.55 0.41 0.07 0.02 1.72 0.12  
  incl. 33.95 34.25 0.30 1.33 0.21 0.04 6.31 0.33  
  and 35.35 36.60 1.25 0.95 0.17 0.03 4.69 0.28  
                     
    122.35 123.95 1.60 0.27 0.09 0.01 1.58 0.34  
                     
    164.00 171.50 7.50 0.12 0.02 0.01 0.41 0.22  
Regional Targets
MQ-15-086         NSA         P-038
MQ-15-087   NS     Re-collared as MQ-15-088 P-051
MQ-15-088         NSA         P-051
MQ-15-091         NSA         P-319
MQ-15-092         NSA         P-314
MQ-15-093         NSA         P-012
Notes: Intervals represent core lengths, not necessarily true widths.
TPM - Total Precious Metals (Au+Pt+Pd)
NS - No samples
NSA - No Significant Assays
AP - Assays Pending

P-030 and P-032 Targets (Figures 1 & 2)

The P-30 and P-032 target areas are located in the southern portion of the Maniitsoq property and are hosted in a large northeast-southwest trending package of noritic rocks which contain a number of nickel sulphide occurrences. Work completed in this area in 2015 included a 14.4 line kilometre surface electromagnetic survey, diamond drilling (3 holes) and surface mapping, sampling and prospecting. Intermittent nickel sulphide mineralization has been traced in surface gossans and in both historic and NAN drill holes over a distance of 1.5 kilometres from P-030 in the southwest, through the P-061 target to P-032 target in northeast (see Figure 2). Drilling intersected significant new nickel sulphide mineralization at the P-032 target. 

At P-032, hole MQ-15-090 was drilled to follow-up weak nickel sulphide mineralization and an off-hole borehole electromagnetic (BHEM) anomaly identified during the 2013 program. MQ-15-090 intersected several zones of nickel-copper sulphides (see Table 1) including a 13.8 metre long interval of disseminated, patchy and locally semi-massive sulphides which graded 0.79% Ni and 0.27% Cu from 71.9 to 85.70 metres. This zone included two higher grade intervals:

71.9 - 77.0m: 1.06% Ni, 0.37% Cu and 0.09 g/t TPM over 5.10 metres; and
84.2 - 85.7m: 2.47% Ni, 0.69% Cu and 0.23 g/t TPM over 1.5 metres

BHEM results identified two off-hole anomalies at 75 and 85m, indicating that higher conductivity material lies south of the hole. A second follow-up drill hole, MQ-15-100, was completed later in the program and was located approximately 35 metres south of MQ-15-090. Assays for this hole are pending. 

At P-030, hole MQ-15-089 was drilled to follow-up nickel sulphide mineralization intersected in 2014 (MQ-14-070: 0.63% Ni, 0.20% Cu & 0.18 g/t TPM over 20.1 metres; see NAN News Release dated November 11, 2014) and was located approximately 35 metres to the southwest of MQ-14-070. MQ-15-089 intersected several zones of mineralization including a shallow zone grading 0.41% Ni, 0.07% Cu and 0.12 g/t TPM over 9.55 metres from 33.95 to 43.5 metres (see Table 1). Several other narrow intervals returned elevated nickel-copper and/or elevated total precious metal values. Based on drilling and BHEM data to date, the mineralized zone intersected in MQ-14-070 is now interpreted to plunge steeply to the southeast such that MQ-15-089 was drilled west of the main trend of the zone.

The P-030/32 norite trend contains numerous occurrences of nickel-copper sulphides and the company anticipates carrying out additional work in this area in the future.

Regional Targets (Figure 1)

Assay results have been received for six holes totalling 786 metres which tested airborne EM anomalies at regional targets P-012, P-038, P-051, P-314 and P-319. All holes (with the exception of one hole terminated at 20 metres depth) intersected variable amounts of sulphides, typically at the expected conductor depths, but did not return any significant assay values. The sulphides were hosted in a variety of non-norite lithologies including paragneiss, orthogneiss, gabbro/diorite and pegmatite.

MQ-15-086 at P-038 and MQ-15-093 at P-012 both returned weakly elevated nickel values (between 0.1 and 0.2%), variably hosted in paragneiss, orthogneiss and pegmatite. BHEM surveys detected strong and very strong off-hole EM anomalies in MQ-15-086 and MQ-15-093, respectively. Further data analysis is planned to determine if follow-up drilling of these targets is warranted.

Quality Control

The drilling was completed by George Downing Estate Drilling of Canada utilizing a Boyles JKS 300 diamond drill rig. Drill core samples (41mm BTW) are cut in half by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation is completed at the ALS Minerals preparation lab in Öjebyn, Sweden. Sample pulps are sent by air courier to ALS Minerals analytical laboratory in Loughrea, Ireland. Blank samples and commercially prepared and certified Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81). Analyses for Pt, Pd, and Au are by fire assay (30 grams nominal sample weight) with an ICP-AES finish (PGM-ICP23).

Technical Information; Qualified Person

The Company is not aware of any legal, political, environmental or other risks that could materially affect the potential development of the project other than those set out in its annual information form filed on www.sedar.com. Please see below under the heading "Cautionary Note Regarding Forward-looking Statements" for further details regarding risks facing the Company.

All technical information in this release has been reviewed by Patricia Tirschmann, P.Geo, who is the Qualified Person for the Company and Vice President Exploration, North American Nickel Inc.

About North American Nickel

North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Sudbury, Ontario.

The Maniitsoq property in Greenland is a Camp scale project comprising 2,985 square km covering numerous high-grade nickel-copper sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The >75km-long belt is situated along, and near, the southwest coast of Greenland accessible from the existing Seqi deep water port (See NAN News Release dated January 19, 2015) with an all year round shipping season and abundant hydro-electric potential.

The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-platinum group metal deposit of KGHM International Ltd. The property lies along the extension of the Whistle Offset dyke structure. Such geological structures host major Ni-Cu-PGM deposits and producing mines within the Sudbury Camp.

Cautionary Note Regarding Forward-looking Statements

This press release contains certain "forward-looking statements" and "forward-looking information" under applicable securities laws concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the success of exploration activities; impact of mineralogy, estimation of mineral resources at mineral projects of the Company; ability to complete the port assignment, the ability of the Company to realize upon the benefit of owning the port, economics of production; the future economics of minerals including nickel and copper; synergies and financial impact facilities; the benefits of the development potential of the properties of the Company and currency exchange rate fluctuations. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in metal grades, changes in market conditions, variations in recovery rates, risks relating to international operations, difficulties realized in completion of the assignment, barriers to the assignment, difficulties in development of the assets and suitability of the port in relation to development of the assets of the Company, fluctuating metal prices and currency exchange rates, and other risks of the mining industry, including but not limited to the failure of plant, equipment or processes to operate as anticipated. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed.

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.

ON BEHALF OF THE BOARD OF DIRECTORS

Mark Fedikow, President, North American Nickel Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view Figure 1 and Figure 2, please visit the following link: http://media3.marketwire.com/docs/nan1020figures.pdf.

North American Nickel Inc.
Jaclyn Ruptash
Corporate Communications
604-986-2020 or Toll free: 1-866-816-0118


Source: Marketwired (Canada) (October 20, 2015 - 9:20 AM EDT)

News by QuoteMedia
www.quotemedia.com