Press release from Marketwire
North American Nickel Inc.: Third Mineralized Zone Discovered Near Imiak Hill; Near Solid to Solid Sulphide Zone at Imiak North, Maniitsoq, Southwest Greenland
9.99m of approx. 30% to 40% total sulphides intersected within 55.75m of sulphide mineralization
Thursday, September 12, 2013
North American Nickel Inc.: Third Mineralized Zone Discovered Near Imiak Hill; Near Solid to Solid Sulphide Zone at Imiak North, Maniitsoq, Southwest Greenland03:01 EDT Thursday, September 12, 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2013) - North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF) (CUSIP: 65704T 108) (the "Company") is pleased to announce that a new discovery has been made with diamond drill hole MQ-13-029. The discovery, named Imiak North, is 950 metres northeast of the previously announced Imiak Hill intersections (see News Releases dated August 23 and September 5, 2013), and 1200 metres northwest of the previously announced Spotty Hill discovery (see News Release dated December 23, 2012).
These three mineralized zones are part of the newly named Imiak Hill Conduit Complex (IHCC) which is located in the northern part of the Company's 100% owned Maniitsoq Nickel - Copper - Cobalt and PGM project in southwest Greenland. (See figure 1 and figure 2.)
MQ-13-029, beginning 57.75 metres down the hole, intersected 55.75m metres of sulphide mineralization, including;
- 9.99 metre core length of near solid to solid sulphides averaging approximately 30-40% total sulphides, and
- 45.76 metre core length of disseminated, blebby and net textured sulphide mineralization averaging approximately 3 - 5% sulphides.
As at Imiak Hill and Spotty Hill, mineralization remains open at depth at Imiak North.
NAN CEO and Chair, Rick Mark, states: "We are very pleased to inform shareholders that the Company's exploration program continues to deliver discoveries of near solid to solid sulphide mineralization at Maniitsoq. This discovery at Imiak North is in close vicinity to Imiak Hill's nickel, copper, cobalt mineralization and Spotty Hill's nickel, copper, cobalt and PGM mineralization. And, according to our borehole surveys, these mineralized zones are all open at depth. This follows the conduit model our geological team is using anticipating the nickel mineralization to accumulate in an embayment or footwall contact below these discoveries."
A photograph of the near solid to solid sulphide mineralization in MQ-13-029 is in Figure 3.
MQ-13-029 was surveyed with a 3 component borehole electromagnetic (BHEM) system and the sulphide mineralization produced a very strong anomalous response. The interpretation of the anomaly, by Crone Geophysics and Exploration Ltd and NAN staff, indicates that the geophysical conductive plate continues further down plunge at Imiak North.
The new discovery at Imiak North occurs within a gossanous noritic outcrop, locally known as the Mikissoq showing, which was unsuccessfully tested by one shallow drill hole in the 1960s.The sulphide mineralization intersected at Imiak North occurred near the northern contact of the norite intrusion felsic gneiss.
The entire intersection for MQ-13-029 is summarized in the table below.
|57.75||68.38||10.63||Norite heavily mineralized 5-7% total sulphide|
|68.38||71.22||2.84||Norite heavily mineralized 8-10% total sulphide|
|77.77||85.05||7.28||Norite 1-3% total sulphide|
|85.05||87.94||2.89||Norite heavily mineralized 8-10% total sulphide|
|87.94||94.27||6.33||Norite 1-3% total sulphide|
|94.27||103.51||9.24||Norite heavily mineralized 6-8% total sulphide|
|103.51||113.50||9.99||Norite near solid to solid 30-40% total sulphide|
Note: the visual percent sulphide estimates and descriptions in this news release are not intended to suggest grades of contained metals, which will require assaying to determine. Mineral percentages are volume not weight.
The Imiak North zone discovery hole (MQ-13-029) was drilled by following-up BHEM results from earlier 2013 NAN holes. The BHEM results from MQ-13-021 and MQ-13-027 outlined a strong, highly-conductive anomaly between the two holes. Hole MQ-13-021, was drilled west of MQ-13-029 and failed to return any significant mineralization, while hole MQ-13-027, drilled east of the discovery hole intersected:
- 64.11 metres of averaging 4-5% disseminated and net textured sulphides starting at a hole depth of 33.84 metres.
Figure 4 is a plan map showing the location of the three 2013 Imiak North drill holes and Figure 5 is a 3D Model of Imiak North showing modelled conductor plate and drill holes.
The table below lists the collar coordinates of the Company's holes at Imiak North. Drill core from all three holes has been logged, samples sawed in half and shipped to ALS Chemex in Sweden for analysis.
|*||WGS84 UTM Zone 22N|
|**||Metres Above Sea Level|
The Maniitsoq nickel-copper-cobalt & PGM project in southwest Greenland contains the 70 kilometer 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 27.5% of NAN.
The Maniitsoq property in Greenland is a Camp scale project comprising 5,106 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Neil Richardson, COO, 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.
To view Figures 1 to 5, please visit the following link: http://media3.marketwire.com/docs/nan0912figs1to5.pdf.
FOR FURTHER INFORMATION PLEASE CONTACT:
North American Nickel Inc.
604-986-2020 or Toll free: 1-866-816-0118