VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 23, 2015) – North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF)(CUSIP:65704T 108) (the “Company” or “NAN”) is pleased to report that first assays have been received from diamond drilling carried out at the P-053 discovery on their 100% owned Maniitsoq nickel-copper-cobalt-PGM sulphide project in southwest Greenland. A total of 1,651 metres in eight holes have been completed to follow-up nickel sulphide mineralization and borehole electromagnetic (BHEM) conductors at the P-053 discovery located in the Southern Coastal Zone (“SCZ”) of Maniitsoq.
Assay results have been received for five of eight holes and highlights include:
- MQ-15-082: 23.7 metres of 1.98% Ni, 0.62% Cu and 0.19 g/t TPM (total precious metals incl. Pt, Pd & Au) including:
- 12.2 metres of 2.78% Ni, 0.36% Cu and 0.26 g/t TPM;
- MQ-15-084: 5.6 metres of 1.03% Ni, 0.34% Cu and 0.12 g/t TPM;
- MQ-15-085: 1.35 metres of 0.98% Ni, 0.45% Cu and 0.14 g/t TPM.
As previously reported, P-053 has excellent potential for high nickel recoveries with 90.1% of the nickel being hosted in Pentlandite and 100% of the copper being chalcopyrite with potential recoveries of 96.5% and 85.4%, respectively (see NAN Press Release dated March 2, 2015).
NAN CEO, Keith Morrison, commented: “MQ-15-082 is one of the best drill results that NAN has intersected at our Maniitsoq Project. Importantly the P-053 discovery is part of the SCZ target area and is completely separate from the mineralized zone at the Imiak Hill Complex (IHC), being located forty-five kilometres to the southwest, but still within the prospective Greenland Norite Belt (“GNB”). P-053 now combines with our previously released drilling results from Spotty Hill, Fossilk (P-58 and P-59) and P-013 to produce another high grade nickel sulphide mineralized structure with indicated excellent and conventional metallurgical properties.”
This release summarizes the results for the first five holes (MQ-15-081 to 85) totaling 977 metres completed at the P-053 target located approximately nine kilometres southwest of the North American Nickel camp in the SCZ of Maniitsoq (see Figure 1). Drilling was initially carried out to follow-up strong BHEM conductors identified from a survey of hole MQ-14-071 completed late in the 2014 drilling program (0.85% Ni, 1.80% Cu & 0.56 g/t TPM/0.24 metres; see NAN News Release dated November 11, 2014). Three additional holes (MQ-15-101 to 103) were subsequently completed late in the 2015 drilling program to follow-up the significant nickel sulphide mineralization reported in this release. Assays for these three holes are pending and will be reported as received.
Drill collar information and a summary of assays are provided in Tables 1 and 2, respectively. A drill plan (Figure 2), composite longitudinal section (Figure 3) and drill core photo (Figure 4) may be viewed using the link provided with this release: http://media3.marketwire.com/docs/1026125_F1-4.pdf.
Three of the five holes reported herein intersected net-textured, stringer and semi-massive to massive breccia sulphides over core lengths ranging from 1.35 to 23.7 metres. This mineralization is hosted within an easterly trending, locally brecciated and altered, noritic intrusion. Hole MQ-15-101 to 103 completed late in the program intersected mainly disseminated sulphides over variable core lengths (see Table 1) and hole MQ-15-102 also intersected a 0.3 metre interval of semi-massive breccia sulphides.
A mineralized zone consisting of disseminated sulphides as well as local concentrations of net-textured to stringer sulphides and semi-massive to massive breccia sulphides is interpreted to extend over a strike length of 135 metres and has been intersected to a depth of approximately 150 metres below surface. The zone is interpreted to dip steeply to the south-southwest and to contain a high conductance lens of stringer and breccia sulphides that plunges to the east-southeast. The distribution and concentration of sulphides is irregular in nature, due in part to brecciation and remobilization, and is reflected in BHEM surveys as multiple small high conductance plates located within the broader envelope of disseminated mineralization. Once all assay results are received a comprehensive data review will be undertaken to determine the nature and amount of drilling to be planned for the P-053 area in 2016.
Table 1: Drill Collar Information, P-053 Area
|Collar coordinates in UTM WGS84 Zone 22N|
|*Hole MQ-15-081 was terminated at 86m due to an incorrect azimuth and re-collared as hole MQ-14-082.|
Table 2: Assay Results
|Ni %||Cu %||Co %||S %||TPM
|MQ-15-081||NSA||Re-collared as MQ-15-082|
|and||104.50||116.70||12.20||2.78||0.36||0.13||20.47||0.26||Semi-massive to massive breccia sulphides|
|MQ-15-084||196.00||201.60||5.60||1.03||0.34||0.05||8.17||0.12||Disseminated sulphides & massive breccia sulphide veins|
|MQ-15-085||229.50||230.85||1.35||0.98||0.45||0.05||7.65||0.14||Net-textured to stringer sulphides|
|MQ-15-101||246.00||286.00||40.00||AP||Averages 1-1.5% disseminated sulphides locally with decimeter scale intervals of up to 5% disseminated sulphides|
|MQ-15-102||174.55||186.05||11.50||AP||2-3% disseminated sulphides|
|189.30||189.60||0.30||AP||Semi-massive breccia sulphides|
|189.60||194.10||4.50||AP||4-5% disseminated sulphides|
|MQ-15-103||28.00||44.00||16.00||AP||Averages trace to 2% disseminated sulphides|
|59.15||71.50||12.35||AP||Averages 2-3% disseminated sulphides|
|Notes: Intervals represent core lengths, not necessarily true widths.|
|TPM – Total Precious Metals (Au+Pt+Pd)|
|NSA – No Significant Assays|
|AP – Assays Pending|
P-053 Drilling and Geophysics (Figures 2 through 4)
Eight holes totalling 1,651 metres were completed at the P-053 target in 2015 to follow-up nickel sulphide mineralization and BHEM conductors. In 2014, one hole was completed to test a strong airborne EM (VTEM) conductor coincident with outcropping, locally mineralized norite in an area of no known previous drilling. Two narrow intervals of Ni-Cu sulphide mineralization were intersected in sheared norite in hole MQ-14-071. A BHEM survey was completed in this hole and detected three strong, high conductance off-hole anomalies which became the target of the initial 2015 drilling. Due to the steep terrain, drilling in 2015 was carried out from selected drill platforms with multiple holes drilled from each site.
Surface mapping in 2015 outlined two parallel east-west trending norite bodies separated by orthogneiss and locally brecciated by a granitic to pegmatitic vein network. A sulphide gossan horizon hosted in the northernmost norite intrusion was traced for an approximate distance of 135 metres along strike and is interpreted to be the surface expression of the mineralization intersected in drilling (see Figure 2). The noritic lithologies at surface comprise norite, leuconorite, diorite and altered silica-rich “granitized” norite.
MQ-15-081 was drilled to test the strongest of the three BHEM conductors detected in MQ-14-071 but was terminated at 86 metres due to an incorrect azimuth and re-collared at MQ-15-082.
MQ-15-082 intersected a wide interval of norite-hosted mineralization approximately 20 metres along strike to the east of MQ-14-071. The mineralization consisted of an upper interval of stringer and breccia sulphides and a lower interval of semi-massive to massive breccia sulphides (see drill core photo in Figure 4), returning the following values:
- 23.7 metres of 1.98% Ni, 0.62% Cu and 0.19 g/t TPM from 93.0 to 116.70m incl.
- 11.5 metres of 1.12% Ni, 0.91% Cu and 0.12 g/t TPM from 93.0 to 104.5 metres
- 12.2 metres of 2.78% Ni, 0.36% Cu and 0.26 g/t TPM from 104.5 to 116.7 metres
MQ-15-083 was drilled to test a second BHEM conductor detected from original hole MQ-14-071 and intersected two narrow intervals of weakly disseminated sulphides in norite containing elevated Ni-Cu values (see Table 2). A BHEM survey of the hole detected two off-hole conductors including one interpreted to be up-dip of the shallow disseminated mineralization and one located down-dip of the lower disseminated mineralization.
MQ-15-084 was drilled to test the third of the original three 2014 BHEM anomalies, the position of which was refined based on the BHEM results from MQ-15-082. MQ-15-084 intersected a 5.6 metre interval of brecciated norite containing disseminated sulphides as well as massive breccia sulphide veins from 196.0 to 201.6 metres. This interval graded 1.03% Ni, 0.34% Cu and 0.12 g/t TPM and included 1.70% Ni, 0.20% Cu and 0.17 g/t TPM over 1.9 metres.
MQ-15-085 was drilled approximately 80 metres down plunge of disseminated sulphide mineralization intersected in MQ-15-083. MQ-15-085 intersected 1.35 metres of norite hosted net-textured to stringer sulphides grading 0.98% Ni, 0.45% Cu and 0.14 g/t TPM from 229.5 to 230.85 metres.
A 5 line km surface EM survey was carried out at P-053 in early September in order to help define the extents of the P-053 mineralization. The survey detected a strong conductor with a strike length of 138 metres at a depth of 80 metres. The absence of a near surface response where there is known surface mineralization as well as BHEM responses is attributed to the brecciated nature of the near surface mineralization. The Company is reviewing additional geophysical targeting tools, complementary to surface & borehole EM, to better define the overall mineralized envelopes at P-053 and other similar Maniitsoq targets.
Three additional holes, MQ-15-101 to 103, were completed late in the 2015 drilling program in order to test undrilled gaps in the interpreted mineralized horizon in the up plunge, central and down plunge positions as shown in Figure 3. All three holes intersected disseminated sulphides over variable core lengths. Hole MQ-14-102 also intersected a 0.3 metre interval of semi-massive breccia sulphides from 189.3 to 189.6 metres. All assays are pending for these holes.
Drilling, surface and borehole EM surveys, surface mapping, and preliminary 3D modeling indicate that the northernmost P-053 norite unit hosts a south-southwest dipping mineralized zone which can be traced over a strike length approximately 135 metres and has been intersected to a depth of approximately 150 metres below surface. The mineralized zone consists of disseminated sulphides, localized net-textured and stringer sulphides and an east-southeast plunging lens of semi-massive to massive breccia sulphides. Borehole EM surveys carried out in the P-053 holes detected various small, high conductance off-hole and in-hole edge responses with the centres of highest conductivity located west of hole MQ-15-082 and west of hole MQ-15-084. The P-053 area will be reviewed in detail once all data has been received in order to plan follow-up exploration for 2016.
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 ability to complete the port assignment, the ability of the Company to realize upon the benefit of owning the port, impact of mineralogy, estimation of mineral resources at mineral projects of the Company; economics of production; success of exploration activities; 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 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, 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.
To view Figures 1-4, please visit the following link: http://media3.marketwire.com/docs/1026125_F1-4.pdf
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