North American Nickel: Greenland Norite Belt Continues to Deliver with New Nickel Sulphide Discovery: 7.5m @ 1.26% Ni, 0.24% Cu and 0.47 g/t Pt+Pd+Au
TSX VENTURE: NAN
Vancouver, British Columbia--(Newsfile Corp. - November 19, 2018) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T 108) (the "Company") is pleased to report that assays have been received from four drill holes completed to test the P-008 target on the Company's 100% owned Maniitsoq nickel-copper-cobalt-PGM sulphide project in southwest Greenland.
- MQ-18-167: 7.50m @ 1.26% Ni, 0.24% Cu, 0.05% Co and 0.47 g/t Pt+Pd+Au including
- 5.10m @ 1.68% Ni, 0.29% Cu, 0.06% Co and 0.63 g/t Pt+Pd+Au
- P-008 represents a newly discovered zone of classic Maniitsoq high tenor nickel sulphide mineralization within the 75km long Greenland Norite Belt where multiple zones of Ni-Cu-Co sulphide mineralization have been previously identified.
- Drilling and electromagnetic (EM) data has indicated a 335 metre dip-extent to the mineralization that remains open down dip and along strike.
- Drilling and borehole electromagnetic (BHEM) results show that the P-008 zone is comprised of both strongly conductive high grade remobilized sulphides and, less conductive disseminated to blebby sulphides that are typical of the Maniitsoq style of mineralization.
The primary objective for the 2018 exploration program was the effective execution of work designed to identify a large Ni-Cu-Co-PGE sulphide mineral system in association with some of the most heavily mineralized and differentiated intrusions. Within these intrusions, the pyroxene-rich melanorites representing the principal target rock type is known to contain high grade nickel mineralization associated with high nickel tenor. Deep-penetrating high-power EM combined with an understanding of the geological configuration of the intrusions was used to focus exploration activities.
North American Nickel Consulting Chief Geologist, Peter Lightfoot states: "The mineralization encountered in three of the four holes at P-008 comprise disseminated interstitial sulphide mineralization within a melanorite host grading through breccia sulphides to semi-massive sulphides. The mineralization has a systematic high Ni tenor ranging from 6.5 to 7.7 wt% Ni in 100% sulphide in both disseminated and massive sulphide types. The low grade disseminated sulphides encountered in the fourth hole have much lower sulphide Ni tenors and appear not to belong to the same zone."
Four holes totalling 1,171 metres were completed at the P-008 target located 4.3 km south of the Fossilik area within the central portion of the Greenland Norite Belt (Figure 1). The initial two holes (MQ-18-162 and 163) successfully targeted a surface EM plate. MQ-18-167 was a 65m down-dip step-out hole that targeted BHEM plates modeled from MQ-18-163; the results from this hole indicated that mineralization improved with depth. MQ-18-177 was a 130m step-out from MQ-18-167 along the indicated plunge of mineralization. MQ-18-177 was bored to a maximum depth of 443m which was only limited by the capacity of the diamond drill. MQ-18-177 deviated to the right and drilled outside the plunge of the mineralization.
Drill collar information and a summary of assays are provided in Tables 1 and 2 respectively. A vertical cross section is shown in Figure 2. Figures may be viewed using the link provided at the end of this release.
Table 1: Drill Collar Information, P-008
|Hole Number||UTM East||UTM North||Elevation (m)||Length (m)||Azimuth||Dip|
Note: Collar coordinates in UTM WGS84 Zone 22N
*-Hole was terminated at the maximum depth capacity of the diamond drill.
Table 2: Assay Results, P-008
Note: Intervals represent core lengths, not necessarily true widths.
NSA - No Significant Assays
*Hole was terminated at the maximum depth capacity of the diamond drill.
The newly discovered P-008 sulphide zone dips steeply to the south and, has been intersected by four holes over a dip extent of 335 metres (Figure 2). This new zone is located southeast of the main Fossilik intrusion area which contains multiple zones of high-grade Ni-Cu-Co sulphide mineralization extending from surface to vertical depths of 435m and interpreted beyond to depths of 650m based on BHEM results (See Press Release dated November 23, 2017).
The P-008 zone is characterized by high nickel tenors (percent nickel re-calculated into 100% sulphides), between 6.5% - 7.7% (composited intervals) and contain elevated copper and precious metals values. The overall footprint of the mineralization comprises both high grade remobilized breccia like sulphides which exhibit strong BHEM responses as well as disseminated to blebby sulphides.
"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. (Consulting 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.
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North American Nickel Inc.
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