North American Nickel Inc.: Discovery of High Grade Nickel Sulphide Mineralization at Imiak North
October 23, 2013 (Source: Marketwired) — North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF) (CUSIP: 65704T 108) (the “Company”) is pleased to announce a new discovery of high grade nickel and copper-cobalt-PGM mineralization at Imiak North, 950m north of Imiak Hill, and additional copper-nickel-cobalt and elevated-PGM mineralization at Spotty Hill, 1350m east of Imiak Hill.
Imiak North and Spotty Hill are two of three mineralized conduits at the Imiak Hill Conduit Complex (IHCC) located in the northern part of the Company’s 100% owned Maniitsoq Nickel – Copper – Cobalt and PGM sulphide project in southwest Greenland (See fig. 1 for the IHCC, fig. 2 for Imiak North, and fig. 3 for Spotty Hill: http://media3.marketwire.com/docs/NR_102313_NAN_Results_Figures.pdf).
DDH MQ-13-029: at 58m down the hole:
- Intersected 55.75m grading: 1.28% nickel, 0.36% copper, 0.04% cobalt, and 0.03 g/t PGM
- Including: 9.99m of 4.65% nickel, 0.33% copper, 0.13% cobalt and 0.08 g/t PGM
DDH MQ-13-027: at 34m down the hole:
- Intersected 64.11m grading: 0.45% nickel, 0.20% copper, 0.01% cobalt and 0.02 g/t PGM
- Including: 24.98m of 0.71% nickel, 0.31% copper, 0.01% cobalt and 0.04 g/t PGM
Get our daily investorintel update
DDH MQ-13-022: at 197m down the hole:
- Intersected 20.07m grading: 0.68% nickel, 0.28% copper, 0.02% cobalt and 0.32 g/t PGM
- Including: 2.07m of 2.03% nickel, 0.11% copper, 0.07% cobalt and 0.78 g/t PGM
Hole MQ-13-022 was drilled to the southeast of hole MQ-12-005 and intersected the eastern edge of the previously discovered mineralized conduit at Spotty Hill. This conduit is a body plunging steeply to the east with the heart of the system lying to the north and below hole MQ-13-022. The conduit is open at depth and additional drilling will test the down plunge potential of this nickel-copper-PGM system.
NAN COO, Neil Richardson, states: “We are very pleased to see that our near solid sulphide discovery at Imiak North contains high grades of nickel, copper, and cobalt. It is also good news that the disseminated sulphide intersections at Imiak North have significant nickel, copper and PGMs. In MQ-13-022, the third drill hole at Spotty Hill since drilling began at Maniitsoq in 2012, we again see higher grade platinum and palladium mineralization within disseminated sulphides. This geological setting continues to resemble distal style sulphides with elevated PGMs as seen in Sudbury footwall deposits. These results from Imiak North and Spotty Hill reinforce our geological model for the IHCC and both remain open at depth.”
Table 1. Summary of drill holes with assay results from Spotty Hill – Imiak North
|Ni%||Cu %||Co %||Pt
|Note: (m) = metres,% = percent, g/t = grams per tonne, NC = not calculated|
|NSA* – no significant assays|
|(1) TPM is total precious metals (gold+platinum+palladium)|
Table 2. Collar coordinates of holes drilled at Imiak North and Spotty Hill. The datum used to acquire the UTM coordinates is Universal Transverse Mercator/World Geodetic System 84/Zone 22N. Azimuth is degrees from true north. Elevation indicates metres above sea level.
Mineralized intervals continue to be hosted within dark colored green-grey massive and weakly magnetic norite with occasional clasts of medium to coarse grained norite in mineralized intervals.
Drill logs and additional maps is available on the company’s website at http://www.northamericannickel.com/
Drill core assay results are evaluated as part of a Quality Assurance and Quality Control procedure that includes the use of multi-element, certified standards with known precious and base metal values, blank standards and control charts to determine accuracy and precision of analytical results. Core sample analysis was completed by ALS Scandinavia AS of Ojebyn, Sweden. Three methods of analysis were used to determine element concentrations in the rock samples submitted to ALS. These were 1. A multi-element scan, subsequent to a four-acid digestion and ICP/ICP-AES finish; 2. Au, Pt and Pd lead fire assay on a 30 gram sample with ICP-AES finish; and 3. Samples with >1.00% Ni or Cu were re-analyzed by ICP-AES calibrated for ore grade detection limits. Samples with >0.50% S were re-analyzed by Leco furnace and infrared spectroscopy.
The Maniitsoq nickel-copper-cobalt & PGM project in southwest Greenland contains the 75km-long Greenland Norite Belt (GNB) and is 100% owned by North American Nickel.
All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company and President, North American Nickel Inc.
About North American Nickel
North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland, Sudbury, Ontario, and the Thompson, Manitoba nickel belt. VMS Ventures Inc. (TSX VENTURE:VMS) owns approximately 23.9% of NAN.
The Maniitsoq property in Greenland is a Camp scale project comprising 5,106 square kms 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, which is pack ice free year round.
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.
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
Rick Mark, CEO
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>