North American Nickel Inc.: Discovery of New Nickel Sulphide Mineralized Intrusions at Maniitsoq
November 21 2013 - 1:01AM
Marketwired Canada
North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF) (CUSIP: 65704T 108)
(the "Company") is pleased to announce that recent drill core assay results
confirm the discovery of significant Nickel (Ni) Copper (Cu) Cobalt (Co) and
Precious Metals (Platinum+Palladium+Gold) mineralized intrusions outside of the
high grade Imiak Hill Conduit Complex in the Company's regional exploration
drilling in the 75km long Greenland Norite Belt (GNB). Assay results include
6.51m @ 0.44% Ni and 0.20% Cu including 0.73m @ 2.35% Ni and 1.21% Cu. The new
discovery area is located approximately 18 km south of the Imiak Hill Conduit
Complex.
The newly discovered intrusions, though poorly exposed, were identified during a
2013 site inspection of a cluster of three VTEM conductors collectively known as
the P-13 target (see figures 1 and 2:
http://media3.marketwire.com/docs/NR_112113_NAN_Fig1and2.pdf). Small exposures
of rusty, gossanous norite were noted at several locations within the P-13
target area and 3 EM conductors were subsequently tested for a total of three
holes (MQ-13-032 to 034).
NAN CEO, Rick Mark, states: "The discovery of new near surface Nickel, Copper,
Cobalt and PGM mineralisation at the P-13 target provides more evidence of the
district scale potential of Maniitsoq. These initial near surface results,
coupled with the associated off hole conductors, are indicative of what we
originally saw at the high grade Imiak Hill Conduit Complex. It is important to
realize that the 2013 prospecting program that confirmed this airborne target
was the first of its kind in more than a decade, so there is much more to learn
at Maniitsoq outside our primary focus, the Imiak Hill Complex. This is the
fourth new discovery of nickel sulphide mineralization at Maniitsoq this year
and continues the exploration successes of NAN's technical team."
MQ-13-032 tested a 200m long, northeast-striking conductor and intersected a
thick section of norite and leucogabbro with four intervals of Ni-Cu-Co-PGM
mineralization as listed in Table 1 below. The hole was surveyed with a Crone
three-component borehole EM (BHEM) probe and off-hole responses were detected at
each of the four mineralized intervals suggesting the presence of stronger
mineralization nearby.
Table 1: MQ-13-032 significant assays
---------------------------------------------------------------------------
From m To m Core Ni % Cu % Co %
Length
m (1)
---------------------------------------------------------------------------
Interval 1 69.70 93.44 23.74 0.13 0.03 0.01
---------------------------------------------------------------------------
Including 91.61 91.90 0.29 1.29 0.24 0.03
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Interval 2 99.35 105.86 6.51 0.44 0.20 0.01
---------------------------------------------------------------------------
Including 101.79 102.52 0.73 2.35 1.21 0.05
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Interval 3 137.80 138.24 0.44 1.38 0.45 0.04
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Interval 4 150.56 159.22 8.66 0.33 0.09 0.01
---------------------------------------------------------------------------
Including 157.21 159.22 2.01 0.88 0.22 0.03
---------------------------------------------------------------------------
Including 157.21 157.67 0.46 2.20 0.70 0.07
---------------------------------------------------------------------------
Note: (m) = metres, % = percent, g/t = grams per tonne
(1) Core length is length along the hole not true thickness
(2) TPM is total precious metals (gold+platinium+palladium)
Table 1: MQ-13-032 significant assays
----------------------------------------------------------------------------
Pt g/t Pd g/t Au g/t TPM S % Bore Hole
g/t (2) EM
Response
Type
----------------------------------------------------------------------------
Interval 1 0.01 0.00 0.00 0.01 0.53 Off-hole
---------------------------------------------------------------
Including 0.11 0.04 0.02 0.17 5.87
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Interval 2 0.09 0.01 0.01 0.11 1.92 Off-hole
---------------------------------------------------------------
Including 0.68 0.06 0.03 0.77 9.71
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Interval 3 0.16 0.05 0.01 0.22 6.78 Off-hole
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Interval 4 0.03 0.00 0.00 0.03 1.63 Off-hole
---------------------------------------------------------------
Including 0.07 0.02 0.00 0.09 4.45
---------------------------------------------------------------
Including 0.18 0.06 0.02 0.26 12.30
----------------------------------------------------------------------------
Note: (m) = metres, % = percent, g/t = grams per tonne
(1) Core length is length along the hole not true thickness
(2) TPM is total precious metals (gold+platinium+palladium)
At the completion of drilling, the hole was surveyed with a Crone
three-component EM probe. Final results of the survey are pending but
preliminary interpretation indicates off-hole anomalies associated with all four
of the mineralized intervals suggesting the presence of stronger mineralization
nearby.
The polymetallic nature of the mineralization in MQ-13-032 is consistent with
that documented from the Imiak Hill Conduit Complex and underscores the
significance of the association of off-hole BHEM responses with the
mineralization. These off-hole responses will be followed-up in 2014.
MQ-13-033 tested a much weaker, short strike length VTEM anomaly located 200m
west of MQ-13-032. The hole intersected non-mineralized granite and granodiorite
gneiss. No conductive material was encountered and an EM survey of the hole did
not detect any in or off-hole conductors. However, a number of large decomposed
rusty to gossanous norite boulders and blocks are strewn about this area.
MQ-13-034 tested a weak, short strike length VTEM anomaly located 275m southeast
of MQ-13-032 and intersected 41m of norite with local weak disseminated sulphide
mineralization. Significant assay results are listed in Table 2. The best assay
was 1.10m at 0.65% Ni, 0.15% Cu and 0.13 g/t TPM. A downhole BHEM geophysical
survey could not be performed in the hole due to persistent caving.
Table 2: MQ-13-034 significant assays
---------------------------------------------------------------------------
From m To m Core Ni % Cu % Co %
Length
m (1)
---------------------------------------------------------------------------
Interval 1 73.50 76.22 2.72 0.16 0.07 0.00
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Interval 2 82.00 84.50 2.50 0.38 0.14 0.01
---------------------------------------------------------------------------
Including 83.40 84.50 1.10 0.65 0.15 0.02
---------------------------------------------------------------------------
Note: (m) = metres, % = percent, g/t = grams per tonne
(1) Core length is length along the hole not true thickness
(2) TPM is total precious metals (gold+platinium+palladium)
(i) Hole MQ-13-034 was not surveyed due to bad ground conditions in the
hole
Table 2: MQ-13-034 significant assays
----------------------------------------------------------------------------
Pt g/t Pd g/t Au g/t TPM S % Bore Hole
g/t (2) EM
Response(i)
----------------------------------------------------------------------------
Interval 1 0.02 0.02 0.03 0.07 0.59 Not surveyed
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Interval 2 0.04 0.03 0.03 0.10 1.67 Not surveyed
---------------------------------------------------------------
Including 0.06 0.04 0.03 0.13 2.83
----------------------------------------------------------------------------
Note: (m) = metres, % = percent, g/t = grams per tonne
(1) Core length is length along the hole not true thickness
(2) TPM is total precious metals (gold+platinium+palladium)
(i) Hole MQ-13-034 was not surveyed due to bad ground conditions in the hole
Assay results have also been received for holes MQ-13-030 and MQ-13-031, located
approximately 21.8 km northeast of target area P-13 (figure 1). The two holes,
tested VTEM target P-49 situated 9 km east of the Imiak Hill Conduit Complex.
Neither hole intersected any significant nickel mineralization.
The 2013 drill program at Maniitsoq is now complete and planning for next year
has commenced. The focus in 2014 will be to expand the numerous high-grade
mineralized zones within the Imiak Hill Conduit Complex (see press releases
dated October 10th and 23rd and November 7th for details on these zones), to
follow-up new discoveries elsewhere in the GLB (such as P-13) and to continue
testing high priority VTEM targets throughout the Maniitsoq project area.
Collar coordinates and other details on the five holes discussed in this news
release are listed in Table 3.
Table 3. Collar coordinates for holes MQ-13-030 to 34. The datum used to acquire
the UTM coordinates is World Geodetic System 84 Universal Transverse Mercator
Zone 22 North. Azimuth is degrees from true north. Elevation indicates meters
above sea level.
----------------------------------------------------------------------------
Hole UTM UTM Elevation Length Azimuth Dip Target
Number East(i) North(i) (m) (m) (true)
(m) (m)
----------------------------------------------------------------------------
MQ-13-030 488025 7257448 649 98.00 343 -45 P-49
degrees degrees
----------------------------------------------------------------------------
MQ-13-031 488082 7257461 649 116.00 340 -55 P-49
degrees degrees
----------------------------------------------------------------------------
MQ-13-032 475094 7239992 303 221.00 145 -60 P-13-1
degrees degrees
----------------------------------------------------------------------------
MQ-13-033 474922 7239898 325 150.00 320 -60 P-13-2
degrees degrees
----------------------------------------------------------------------------
MQ-13-034 475384 7239742 304 173.00 325 -50 P-13-3
degrees degrees
----------------------------------------------------------------------------
Drill logs and additional maps are 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 greater than 1.00% Ni or Cu were
re-analyzed by ICP-AES calibrated for ore grade detection limits. Samples with
greater than 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.
Qualified Person
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 km covering numerous high-grade nickel-copper sulphide occurrences
associated with norite and other mafic-ultramafic intrusions of the Greenland
Norite Belt (GNB). The greater than 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
North American Nickel Inc.
Evan Sleeman
604-986-2020 or Toll Free: 1-866-816-0118
www.northamericannickel.com
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