North American Nickel Provides Exploration Update
TSX VENTURE: NAN
Vancouver, British Columbia--(Newsfile Corp. - September 19, 2018) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T108) (the "Company") has completed its 2018 exploration and drilling program at the Company's 100% owned Maniitsoq nickel-copper-cobalt-PGM project in Southwest Greenland.
NAN completed 14,287.6 metres of drilling this season, which includes 1,305m at the Qeqertaasaq Carbonatite Complex (see news release dated September 10, 2018). This represents an increase of 5,520.6m from our previous program in 2017. This year's program was achieved over a 15 week period and surpassed the initial planned program of 12,500m.
The 2018 exploration program took a step away from NAN's previous exploration strategy, which involved the systematic follow-up down plunge of known mineral zones, anticipating that these shallow pipe-like bodies would grow in size at depth and achieve an economic threshold. The strategy for 2018 placed an emphasis on evaluating the roots of large intrusions that contain thick intervals of noritic rock with unusually high magnesium oxide (MgO) concentrations. This new approach, was driven by the technical data that indicated that the majority of the highest-grade mineralization comprising of heavily disseminated, net-textured, breccia and massive sulphides are hosted within a specific high MgO rock type termed melanorite.
This strategy drove NAN to investigate the contacts, keels, and root zones of some of the intrusions where there is space for a large tonnage melanorite hosted deposit of high-grade breccia and massive sulphide mineralization within a broader envelope of disseminated sulphide.
Exploration activity in 2018 was focused on the use of geological and geophysical data to target the melanorite contact and keel zones of prioritized intrusions at Fossilik, P-030-31-32, P-008, Pingo and in the footprint of the Imiak Hill Complex (Figure 1). The program included the use of deep-penetrating surface electromagnetic methods designed to optimize the possibility of detecting large conductive massive sulphide bodies at depth, coupled with borehole electromagnetic surveys (BHEM), structural geology, surface physical property, geochemical sampling, and 3D modeling. The extensive program of work has generated the data and samples required to add significant value to the Maniitsoq database, and provides a basis to refine future exploration strategies.
NAN's CEO Keith Morrison stated, "The Greenland Norite Belt, when compared on a global basis to other NiS exploration projects, is unusually well endowed with numerous zones of high-quality Ni-Cu-Co-precious metal mineralization. The bulk of the known occurrences within the belt, have elevated Ni grades with high Ni tenors. Outside of the Maniitsoq project, there are very few opportunities for exploration assets, located in a supportive jurisdiction, that offers the combination of exploration potential and metal value that if successful, will supply the long term market demand for strategic base metals."
The 2018 program of work was executed from the Maniitsoq Camp. Despite challenging weather conditions this season, a total of 14,287.6m of drilling in 33 holes was completed by early September. These numbers include 6 holes drilled on the Qeqertaasaq Carbonatite Complex designed to test potential nickel targets and evaluate the strategic metal potential in this area. Table 1 provides a list of the drilling completed at each target area. Turnaround time from shipping of samples out of camp to receipt of finalized assays is approximately 6 to 10 weeks. The Company plans to collate assay results as they are received and report them by target area or grouped target areas.
Table 1: Listing of 2018 Drill Holes by Target Area
|Target Area||Hole Number||Length (m)|
|Imiak Hill Complex: Spotty Hill||MQ-18-157||788|
|Qeqertaasaq Carbonatite Complex:|
*EOH lengths have been rounded to nearest decimetre
** Hole stopped and re-drilled as MQ-18-166
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 Person 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 24th, 2016, titled "Independent Technical Report for the Maniitsoq Nickel-Copper-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.
Toll free: 1-866-816-0118
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.
Figure 1: Location of 2018 drilling.