TORONTO, Dec. 18, 2019 /CNW/ - Nickel Creek Platinum Corp.
(TSX: NCP) ("Nickel Creek" or the "Company") is pleased to
announce the results of its 2019 geophysics program at its
100%-owned Nickel Shäw Project located in the Yukon, Canada. Using a large loop,
transient electromagnetic survey, the program tested the Quill
exploration target area, which is along trend approximately 1.7
kilometres to the southeast of the main Wellgreen deposit.
See Figure 1 for a property scale map of the Nickel Shäw
Project area.
Several strong conductors were identified with the most
significant being a large composite conductor located 150 metres
south of the interpreted sill-country rock contact as shown in
Figure 2. The Company has concluded that this target warrants drill
testing as it could potentially be a new area of significant
Ni-Cu-PGM mineralization.
Diane Garrett, President and CEO
of the Company commented: "We are very pleased with the results
from this program. Quill had been an untested target for the
Company until permits were received. The ground
electromagnetic technology is effective at targeting massive
sulfides as it can determine the size and orientation of the
conductive body. The Target A anomaly is quite extensive in size
and, given the conductivity-thickness measurement in excess of 5000
Siemens, indicates possible Ni-Cu-PGM rich massive sulfides.
The strength and character of Anomaly A and the proximity to the
well-defined Wellgreen Ni-Cu-PGM mineralization is
encouraging."
Diane Garrett continued, noting
"Due to the success of the program, we believe this particular
technique will be useful at the other targets along trend from the
Wellgreen main deposit. The Company is currently reviewing
options for additional electromagnetic programs in the district and
drilling of the targets identified thus far at Quill."
The geophysics program at Quill resulted from the 2018 review of
the Nickel Shäw Project by Mr. Cam
Bell and the Company's technical team (see news release
dated June 5, 2019). The
purpose of that detailed review was to determine areas of
higher-grade mineralization. Mr. Brian Bengert of B-Field Geophysics was engaged
to design, support and interpret the survey results. The
electromagnetic survey was completed in August 2019 by SJ Geophysics and consisted of 4
transmitting loops and approximately 8 kilometres of receiver
lines. The model results were assessed and evaluated by Mr.
Bengert, Mr. Bell and Nickel Creek's technical team.
Three main target areas were identified from the survey and are
shown in Figure 2. Target A was modelled as several plates
spanning an overall strike length of 800 metres and a dip extent of
200 metres. Target A has a conductivity-thickness greater
than 5,000 Siemens, strikes east-northeast and dips steeply to the
south-southeast, and is located south of the interpreted ultramafic
sill-country rock contact in the structural hanging wall of the
sill. A conductivity-thickness greater than 5,000 Siemens
could only be caused by connected sulphides or significant
thicknesses of graphite. The Target A conductor could
potentially be the result of Ni-Cu-PGM bearing magmatic sulphides,
Ni-Cu-PGM poor magmatic sulphides, syngenetic (exhalative)
sulphides within the country rock or a thick layer of
graphite. Although graphite is a possible cause of the
anomaly, no significant graphite has ever been identified within
the Nickel Shäw Complex, making the target prospective. Target A
does not extend to the surface and will require drill testing to
determine the cause of this strong conductor. Target B
consists of a single plate model and is located at the northern
ultramafic sill-country rock contact in the structural footwall of
the sill. It is interpreted to be sub-horizontal, lies 30
metres below the surface, is 50 by 50 metres in size and is deemed
a secondary drilling target. Target C consists of several
modelled plates located south and east of Target A. Target C
conductors are interpreted to lie near the surface and they are
smaller than Target A. The Target C area has not been mapped
or systematically explored since it lies outside of the ultramafic
sill outcrop. Mapping and prospecting of the Target C area is
recommended as these conductor plates lie near the surface.
The scientific and technical information disclosed in this news
release in relation to the geophysics program was reviewed and
approved by Brian Bengert, P. Geo.,
who is a "Qualified Person" as defined in National Instrument
43-101 – Standards of Disclosure for Mineral Projects ("NI
43-101"), and an independent consultant to the Company. All
other scientific and technical information disclosed in this news
release was reviewed and approved by James
Berry, Nickel Creek's Chief Geologist and a "Qualified
Person" as defined in NI 43-101.
About Nickel Creek Platinum Corp.
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a
Canadian mining exploration and development company and its
flagship asset is its 100%-owned Nickel Shäw Project. The
Nickel Shäw Project has exceptional access to infrastructure,
located three hours west of Whitehorse via the paved Alaska Highway, which further offers
year-round access to deep-sea shipping ports in southern
Alaska. The Company is also investigating other opportunities
for shareholder value creation.
The Company is led by a management team with a proven track
record of successful discovery, development, financing and
operation of large-scale projects. Our vision is to create value
for our shareholders by becoming a leading North American nickel,
copper, cobalt and PGM producer.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain information that may be
deemed "forward-looking information". Forward-looking information
can generally be identified by the use of forward-looking
terminology such as "may", "will", "expect", "intend", "believe",
"continue", "plans" or similar terminology, or negative
connotations thereof. All information in this release, other than
information of historical facts, including, without limitation,
regarding the undertaking of future activities, work programs and
development of the Nickel Shäw Project, realization of the
potential of Targets A, B and C, and general future plans and
objectives for the Company and the Nickel Shäw Project, are
forward-looking information that involve various risks and
uncertainties. Although the Company believes that the expectations
expressed in such forward-looking information are based on
reasonable assumptions, such expectations are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking information.
For more information on the Company and the key assumptions,
risks and challenges with respect to the forward-looking
information discussed herein, and about our business in general,
investors should review the Company's most recently filed annual
information form, and other continuous disclosure filings which are
available at www.sedar.com. Readers are cautioned not to place
undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
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SOURCE Nickel Creek Platinum Corp.