VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 26, 2016) – 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 2016 drill holes completed in the P-013 area and at selected regional exploration targets on their 100% owned Maniitsoq nickel-copper-cobalt-PGM sulphide project in southwest Greenland. The Company has now reported results for approximately one third of the 2016 drilling program.
At the P-013 SE target, a new zone of norite-hosted nickel-copper sulphide mineralization was discovered while testing a borehole electromagnetic (BHEM) anomaly. The upper portion of this zone was intersected near the upper edge of the BHEM plate at 166.9 metres down hole and consists of high grade remobilized sulphides:
- MQ-16-109: 38.75m @ 1.19% Ni, 0.43% Cu, 0.03% Co & 0.23 g/t Pt+Pt+Au (1.54% Ni Eq)
Including 13.35m @ 2.88% Ni and 0.80% Cu, 0.06% Co & 0.46 g/t Pt+Pd+Au (3.58% Ni Eq)
NAN CEO, Keith Morrison, commented: “This new discovery of high grade nickel sulphides P-013 SE is a direct result of committed and on-going data evaluation and demonstrates the continued success of drill hole targeting based on BHEM in an area of very limited surface outcrop. These results indicate the potential for multiple sulphide lenses in the general P-013 area and are a further indication of the camp scale potential at Maniitsoq.”
This release summarizes the results for five holes and one hole extension totalling 1,213 metres which tested targets in the P-013 area as well as three regional exploration targets (P-049, P-141 and P-142; see Figure 1). Drill collar information and a summary of assays are provided in Tables 1 and 2, respectively. Figures may be viewed using the link provided with this release.
During the 2016 exploration program, 30 drill holes and on two hole extensions totalling 9,596 metres were completed. Assay results have now been reported for 11 holes and one hole extension totaling 3,243 metres including those reported herein.
Table 1: Drill Collar Information, P-013 Area and Regional Targets
Table 2: Assay Results, P-013 Area and Regional Targets
|Core Length (m)||Ni%||Cu%||Co%||S%||Pt
|P-013 SE Target|
|P-013 Centre Target|
|Hole Number||From (m)||To
|Core Length (m)||Ni %||Cu %||Co %||S %||Pt g/t||Pd g/t||Au g/t||Target|
P-013 Target Area
The P-013 target area is located in the central portion of the Greenland Norite Belt (GNB) and includes the P-013 Centre, SE and NW geophysical anomalies occurring in an area of limited outcrop exposure. In 2013, NAN discovered norite-hosted nickel-copper sulphide mineralization coincident with the P-013 Centre anomaly (NAN News Release dated November 21, 2013). Subsequent drilling in 2014 and 2015 intersected additional mineralization (NAN News Releases dated November 3, 2014; September 2, 2015; November 10, 2015), defining a steeply dipping sulphide zone over a dip extent of 100 metres and indicating the potential for one or more parallel zones.
In 2016, 771 metres of drilling was completed in this area including one hole to test a borehole electromagnetic (BHEM) anomaly at P-013 SE as well as an additional hole and hole extension to follow-up previously intersected nickel sulphide mineralization at P-013 Centre. A drill plan map with assay highlights is shown in Figure 2.
Three previous holes were drilled at P-013 SE in order to test for the source of the original helicopter-borne electromagnetic (VTEM) anomaly and also to test subsequently defined BHEM anomalies. These holes did not intersect a significant conductor but hole MQ-15-080 identified a moderate conductance off-hole BHEM anomaly located at depth and to the southeast of the VTEM anomaly. Hole MQ-16-109 was designed to intersect the top edge of the BHEM anomaly detected in MQ-15-080 and intersected a wide zone of mineralized norite including significant high grade nickel sulphides. The 38.75 metre long sulphide zone extended from 166.90 to 205.65 metres and consisted of an upper 13.35 metre interval of remobilized massive sulphide stringers, veins and breccia veins followed downhole by a 25.40 metres interval containing patchy, blebby and disseminated sulphides. The mineralization returned the following values:
- 38.75 metres of 1.19% nickel and 0.43% copper including
- 13.35 metres of 2.88% nickel and 0.80% copper
- 25.40 metres of 0.31% nickel and 0.23% copper
A narrow sulphide breccia vein was intersected a short distance uphole from the main zone and returned 2.73% nickel and 0.12% copper over 0.35 metres from 163.50 to 163.85 metres. Additional narrow sulphidic intervals with elevated nickel-copper values were intersected down hole of main zone and assays are listed in Table 2.
The borehole EM survey in MQ-16-109 was dominated by a very strong in-hole response coincident with remobilized sulphide zone. However the original BHEM anomaly obtained from MQ-15-080, located to the east of MQ-16-109, is interpreted to be a better representation of the overall envelope of mineralization and indicates additional untested down-dip potential.
In 2016, hole MQ-15-094 was extended by 83.5 metres in order to test an approach to an interpreted in-hole borehole electromagnetic (BHEM) anomaly. Narrow intervals of norite-hosted sulphide stringers, blebs and patches were intersected immediately below the point of hole deepening including a 3.85 metre long interval grading 0.71% nickel and 0.36% copper from 263.5 to 267.35 metres (see Table 2). The borehole EM survey detected multiple in-hole and off-hole anomalies throughout the hole including two small, high conductance off-hole anomalies at depths of 225 and 290 metres suggesting the presence of additional narrow sulphide stringers or veins.
Hole MQ-16-110 was designed as a large (150-200 metre) step-out down dip of the nearest previous intersection on the main sulphide lens but intersected a sheared norite-orthogneiss contact at 368 metres downhole and was terminated in orthogneiss prior to target depth. Norite was intersected from 232 to 368 meters and returned a best value of 0.58% nickel and 0.17% copper over 1.75 metres from 232.40 to 234.15 metres in blebby to patchy sulphides.
The borehole EM survey did not detect any anomalies related to the P-013 Centre mineralization. However, it did detect a broad off-hole anomaly at 240 metres downhole which corresponds to the high grade intersection in MQ-16-109 at P-013 SE located 100m to the southeast.
Regional Drill Targets (P-049, P-141, P-142)
Three drill holes totaling 442.10 metres were completed to test geophysical anomalies at regional exploration targets P-049, P-141 and P-141 located in the northern portion of the GNB (Figure 1). At each location, the original VTEM anomaly was followed up with ground EM surveys. Drilling was designed to test weak to moderate conductance EM plates modeled from these surveys in areas of outcropping noritic rocks and sulphide gossans. Drilling indicated limited depth extent to the P-049 mineralization but returned anomalous copper values at P-141 and anomalous gold and nickel values at P-142 (see Table 2).
The drilling was completed by Boart Longyear Canada utilizing two Boart LF-70 diamond drill rigs. Drill core samples (40.54 mm BQTK and 47.6 mm NQ) 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 and approved by Patricia Tirschmann, P.Geo, who is the Qualified Person for the Company and Vice President Exploration, North American Nickel Inc.
About the Company
NAN 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 Company’s 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 an interpreted extension of the Whistle Offset embayment 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; 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, 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.
North American Nickel Inc.
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