Press release from Marketwire
North American Nickel Provides Exploration Update on its Maniitsoq Ni-Cu-Co & PGE Sulphide Project, Southwest Greenland
Tuesday, July 30, 2013
North American Nickel Provides Exploration Update on its Maniitsoq Ni-Cu-Co & PGE Sulphide Project, Southwest Greenland09:00 EDT Tuesday, July 30, 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 30, 2013) - North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF) (CUSIP: 65704T 108) (the "Company") is pleased to provide an update on exploration activities at its 100% owned Maniitsoq project. Field crews commenced surface prospecting on June 15 and the diamond drill arrived on June 21, 2013. To date ten holes (MQ-13-010 to 19) totaling 1,520 meters have been completed. All of the holes have been surveyed with the Crone three-component pulse electromagnetic system.
These first ten holes targeted VTEM electromagnetic anomalies located throughout the Greenland Norite Belt (GNB), which is over 70 km long and hosts the majority of the nickel occurrences on the property. As illustrated in the drill hole location map (see Figure 1), drilling began at the south end of the belt and progressed northwards. The drill is currently situated at the Imiak Hill nickel occurrence in the northern part of the belt. The Company intends to drill a minimum of 3000 meters this year at Maniitsoq.
To date, 567 core samples and 249 surface grab and channel samples have been collected for assay and geochemical analysis and submitted to ALS Limited in Sweden. In addition to this work, approximately nine line-kilometers of surface pulse electromagnetic surveys have been completed over selected target zones.
NAN COO, Neil Richardson, states: "We are pleased with the completion of phase one drilling and the overall progress of the exploration program at Maniitsoq. Over 100 electromagnetic and geological targets have been checked on the ground by our geological team and targets have been re-prioritized for the second phase of drilling starting in early August. Additional targets from the 2013 VTEM flying will continue to augment our target database."
The Company also plans to fly approximately 650 to 700 line-kilometers of VTEM helicopter time domain electromagnetic and magnetic surveys at Maniitsoq in 2013. These surveys will fill gaps in VTEM coverage within the GNB and cover some areas of interest outside the GNB. It is expected that the 2013 exploration program will be completed by early to mid-September.
The Company has granted incentive stock options to certain employees of the Company to purchase up 150,000 common shares in the capital of the Company pursuant to the Company's stock option plan. The options are exercisable, on or before July 29, 2018, at an exercise price of $0.20 per share.
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.
To view the Figure accompanying this press release, click on the following link: http://media3.marketwire.com/docs/n729m.pdf
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 27.5% of NAN.
The Maniitsoq property in Greenland is a Camp scale project comprising 4,983 square km's covering numerous high-grade nickel-copper sulphide occurrences associated with norite and other mafic-ultramafic intrusions of the Greenland Norite Belt (GNB). The 70km plus long belt is situated along, and near, the southwest coast of Greenland, which is pack ice free year round.
The first two discoveries of economic mineralization at Imiak Hill and Spotty Hill confirm the high value and potential of the GNB.
The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the producing Podolsky copper-nickel-platinum group metal deposit of Quadra FNX Mining. 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.
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.
CEO and Chair
604-986-2020 or Toll free: 1-866-816-0118