North American Nickel Inc.: Qeqertassaq Carbonatite Complex Exploration Update
TSX VENTURE: NAN
Vancouver, British Columbia--(Newsfile Corp. - September 10, 2018) - North American Nickel Inc. (TSXV: NAN) (OTCBB: WSCRF) (CUSIP: 65704T 108) (the "Company") is pleased to provide an exploration update of work completed on the Qeqertassaq Carbonatite Complex in Southwest Greenland.
A mineral licence over a highly prospective block of ground in the Greenland Norite Belt (GNB) containing the Qeqertassaq Carbonatite Complex was awarded to the Company in 2018 (see news release on July 9, 2018). Compilation and re-interpretation of historic data for the property has helped to identify norite-hosted nickel sulphide targets, and focus exploration on the potential for rare and strategic metals.
NAN CEO, Keith Morrison, commented: "The Qeqertassaq mineral license is located in the centre of the Greenland Norite belt and NAN's Maniitsoq exploration license. Our primary objective in acquiring this license is to assess the NiS mineralization potential proximal to the actual carbonatite intrusive. However, NAN will also assess the value of the carbonatite hosted mineralization that has been the focus of previous exploration on the property. When this evaluation is complete, NAN will define an appropriate strategy for what is currently considered a non-core asset."
Ni-Cu-Co sulphide targets from a 1995 airborne geophysical Geotem survey were followed-up with surface electromagnetic surveys in 2018. The ground geophysical surveys targeted areas of variably metasomatized basement rocks of the Greenland Norite Belt cut by ring dykes of the Carbonatite Complex. Two holes were drilled for a total of 553m and targeted conductive responses of 7200S and 36S ("Siemens"). The holes were designed to test potential nickel targets and provide materials to characterize parts of the complex that have received minimal previous exploration. The conductive responses were explained by stringers of barren pyrrhotite within a carbonate-magnetite host rock, and associated with a thick interval of magnetite.
The strategic metal potential of the 15 km2 Qeqertassaq Carbonatite Complex was the focus of the 2018 program of surface rock sampling and drilling. Compilation work identified new opportunities for the discovery of tantalum (Ta) and niobium (Nb) in the mineral pyrochlore associated with xenolithic carbonatite and actinolite-magnetite-calcite sheets developed at the margin of the complex. Pyrochlore, the principal host of Nb and Ta, is recognized in association with these rocks. The correlation between elevated abundances of Ta and Nb in areas with significant airborne radiometric and magnetic anomalies helped to focus this program of surface sampling and drilling in 2018. Four holes were drilled for a total of 752m and 284 outcrop samples were collected to evaluate the strategic metal potential of the Qeqertassaq Carbonatite Complex. Assay results are pending.
"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 Peter C. Lightfoot, Ph.D., P.Geo. (Chief Geologist), who is the Qualified Persons for the Company.
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 permitted exploration project comprising 2,985 square km covering numerous high-grade nickel-copper + cobalt 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 with an all year-round shipping season and hydroelectric power potential from a quantified watershed.
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; 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. For further information on the project, please see National Instrument 43-101 (NI 43-101) technical report prepared by SRK Consulting (Canada) Inc. (SRK) dated effective March 17th, 2017, titled "Updated Independent Technical Report for the Maniitsoq Nickel-Copper-Cobalt-PGM Project, Greenland", available under the Company's profile at www.sedar.com or at www.northamericannickel.com.
ON BEHALF OF THE BOARD OF DIRECTORS
North American Nickel Inc.
For more information contact:
North American Nickel Inc.
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