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NAN North American Nickel Inc

0.58
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
North American Nickel Inc TSXV:NAN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.58 0.60 0.60 0 01:00:00

North American Nickel Inc.: High Grade Nickel-Copper-Cobalt Sulphides Confirmed at Imiak Hill

10/10/2013 8:01am

Marketwired Canada


North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF)(CUSIP:65704T 108) (the
"Company") is pleased to announce high grade nickel- copper-cobalt
mineralization at its Imiak Hill discovery based on results from drill holes
MQ-13-019, MQ- 13-024 and MQ-13-026.


Assays of up to 7.06% nickel in MQ-13-026 and 6.26% nickel in MQ-13-024 have
been received.


Imiak Hill is one 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 project in southwest Greenland (See
figure 1 and figure 2).


IMIAK HILL



Highlights of the Imiak Hill drilling: DDH MQ-13-026: at 149 m down the     
hole:                                                                       

--  Intersected 25.51m grading: 3.25% nickel, 0.48% copper, 0.11% cobalt,
      
    --  Including: 18.62m of 4.31% nickel, 0.62% copper, 0.14% cobalt
          
        --  Including: 7.12m of 5.18% nickel, 0.81% copper, 0.17% cobalt
              
        --  Including: 4.01m of 6.04% nickel, 0.64% copper, 0.19% cobalt
             
DDH MQ-13-024: at 136 m down the hole:                                      

--  Intersected 14.90m grading: 2.67% nickel, 0.39% copper, 0.09% cobalt
      
    --  Including: 5.23m of 5.03% nickel, 0.30% copper, 0.16% cobalt
         
DDH MQ-13-019: at 118 m down the hole:                                      

--  Intersected 8.68m grading: 1.53% nickel, 0.43% copper, 0.06% cobalt
      
    --  Including: 3.56m of 3.27% nickel, 0.66% copper, 0.10% cobalt



Assays for the deepest 2013 hole at Imiak Hill, DDH MQ-13-028, which is below
DDH MQ-13-026, are pending. The mineralization at Imiak Hill remains open at
depth (see figure 3).


Assays for the other two mineralized intrusions at the Imiak Hill Conduit
Complex, Imiak North and Spotty Hill, are also pending.


NAN CEO and Chair, Rick Mark, states: "It is especially positive that at Imiak
Hill that we are seeing stronger grades and widths at depth within a geological
setting consistent with our conduit system model of an expected accumulated zone
of nickel-copper mineralization in an embayment or footwall contact. Our 2013
drill program at Imiak Hill has now extended the sulphide mineralization from
surface to 185m below surface, where it remains open, and assays are still
pending for hole 28. The results from our first regional evaluation of the
mineralized norites underscores the potential along the 75km-long Greenland
Norite Belt. We believe the Maniitsoq project is unique in the world. It is
considered a greenfields exploration project, but it is a district-scale, nickel
sulphide project that has mineralization starting at, or near, surface
containing high grades of Ni-Cu-Co and it is located adjacent to ice free, deep
tide water suitable for year round shipping. I offer congratulations to our
outstanding technical team, not only for today's results, but for the constant
and impressive advancement at Maniitsoq for the past two and one half years. The
future looks just as exciting. We look forward to the upcoming assays from the
Imiak Hill Conduit Complex."




Table 1. Summary of drill holes with sulphide intercepts and assay
 results from Imiak hill                                          
Imiak Hill Zone Holes                                             
                                                                  
                                 Core                             
Hole                           Length                             
Number    From (m)    To (m)      (m)     Ni %     Cu %       Co %
------------------------------------------------------------------
MQ-13-019    112.67   113.24     0.57     5.71     1.66       0.18
------------------------------------------------------------------
MQ-13-019    118.09   126.77     8.68     1.53     0.43       0.06
------------------------------------------------------------------
MQ-13-019    118.09   121.65     3.56     3.27     0.66       0.10
------------------------------------------------------------------
MQ-13-020    125.00   128.40     1.40            NSA(i)           
------------------------------------------------------------------
MQ-13-023     75.97    86.30    10.33     1.10     0.38       0.04
------------------------------------------------------------------
MQ-13-023    130.00   140.00    10.00            NSA(i)           
------------------------------------------------------------------
MQ-13-024    136.00   150.90    14.90     2.67     0.39       0.09
------------------------------------------------------------------
MQ-13-024    136.75   141.98     5.23     5.03     0.30       0.16
------------------------------------------------------------------
MQ-13-025     93.25    98.71     5.46     0.34     0.06       0.01
------------------------------------------------------------------
MQ-13-025     97.10    97.64     0.54     1.39     0.16       0.06
------------------------------------------------------------------
MQ-13-026    149.81   175.32    25.51     3.25     0.48       0.11
------------------------------------------------------------------
MQ-13-026    156.70   175.32    18.62     4.31     0.62       0.14
------------------------------------------------------------------
MQ-13-026    157.16   161.17     4.01     6.04     0.64       0.19
------------------------------------------------------------------
MQ-13-026    168.20   175.32     7.12     5.18     0.81       0.17
------------------------------------------------------------------

Table 1. Summary of drill holes with sulphide intercepts and assay results  
 from Imiak hill                                                            
Imiak Hill Zone Holes                                                       
                                                                            
Hole                                     TPM          True_Width            
Number      Pt g/t  Pd g/t   Au g/t  g/t (1)      S %    (m) (2) Zone       
----------------------------------------------------------------------------
MQ-13-019     0.02    0.01     0.00     0.03    27.50       0.37 Imiak Z-20 
----------------------------------------------------------------------------
MQ-13-019     0.00    0.00     0.00     0.00     9.42       5.58 Imiak Z-30 
----------------------------------------------------------------------------
MQ-13-019     0.01    0.00     0.00     0.01    17.67       2.29 Including  
----------------------------------------------------------------------------
MQ-13-020                          NSA(i)                        Imiak Z-30 
----------------------------------------------------------------------------
MQ-13-023     0.01    0.00     0.00     0.01     6.02       5.94 Imiak Z-10 
----------------------------------------------------------------------------
MQ-13-023                          NSA(i)                        Imiak Z-30 
----------------------------------------------------------------------------
MQ-13-024     0.01    0.00     0.00     0.01    14.88       8.33 Imiak Z-30 
----------------------------------------------------------------------------
MQ-13-024     0.02    0.01     0.00     0.03    26.77       2.92 Including  
----------------------------------------------------------------------------
MQ-13-025     0.01    0.00     0.00     0.01     2.02       4.19 Imiak Z-30 
----------------------------------------------------------------------------
MQ-13-025     0.01    0.00     0.00     0.01     9.56       0.41 Including  
----------------------------------------------------------------------------
MQ-13-026     0.01    0.00     0.00     0.01    17.77      11.94 Imiak Z-30 
----------------------------------------------------------------------------
MQ-13-026     0.01    0.00     0.00     0.01    23.15       8.70 Including  
----------------------------------------------------------------------------
MQ-13-026     0.01    0.00     0.01     0.02    31.72       1.88 Including  
----------------------------------------------------------------------------
MQ-13-026     0.02    0.00     0.00     0.02    28.09       3.32 Including  
----------------------------------------------------------------------------
Note: (m) = metres,% = percent, g/t = grams per tonne, NC = not calculated  
NSA(i) - no significant assays                                              

1.  TPM is total precious metals (gold+platinum+palladium) 
2.  calculated true width based on current 3D model 



Table 2. Collar coordinates of holes drilled at Imiak including MQ13-019 to
MQ13-026. 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.




Hole            UTM       UTM           UTM   Length                        
Number         East     North     Elevation (metres) Azimuth  Dip Target    
----------------------------------------------------------------------------
MQ-13-019    477484   7257189           546      176     276  -55 Imiak Hill
----------------------------------------------------------------------------
MQ-13-020    477490   7257141           532      209     279  -62 Imiak Hill
----------------------------------------------------------------------------
MQ-13-023    477484   7257215           547      188     275  -59 Imiak Hill
----------------------------------------------------------------------------
MQ-13-024    477497   7257174           547      197     280  -60 Imiak Hill
----------------------------------------------------------------------------
MQ-13-025    477482   7257238           538      122     269  -45 Imiak Hill
----------------------------------------------------------------------------
MQ-13-026    477490   7257141           532      215     295  -65 Imiak Hill
----------------------------------------------------------------------------



REGIONAL DRILLING RESULTS

Holes MQ-13-010 through 17 tested seven VTEM targets related to norite
intrusions in the central and southern parts of the 75km-long Greenland Norite
Belt. Table 3 summarizes the assay results and table 4 lists the collar
coordinates of each hole along with the target tested. The map in Figure 4 shows
drill hole locations.


Disseminated sulphide mineralization was intersected in noritic rocks at five of
the seven targets.


The strongest mineralization occurred in hole MQ-13-016, which tested VTEM
target P-22B. The hole intersected 43.82 m of mineralized norite averaging 0.22%
Ni including several higher grade intervals, the best was a 1.26m interval
assaying 1.44% Ni, 0.34% Cu, 0.05% Co and 0.32 g/t TPM.


Hole MQ-13-017, drilled on the same section and designed to test 40 to 50 metres
down-dip of MQ-13-016, intersected much weaker mineralization over narrow
intervals. The best assay was 1.92 m at 0.23% Ni. Based on the surface gossan
outcrop, it is possible that MQ-13-017 was drilled below the plunge of the
mineralization intersected by MQ-13-016. Initial review of downhole geophysics
indicates more conductive material lies to the right and above the drill hole,
which also fits the interpretation of the drill hole passing under the plunge.


All eight holes were surveyed with a three-component electromagnetic probe. The
results will be reviewed in conjunction with geological observations to
determine which of the regional targets drilled in 2013 warrant follow-up
drilling and/or surface geophysical surveys in 2014.




Table 3. Summary of drill holes with sulphide intercepts and assay
 results from regional exploration on the property                
Regional Exploration Holes                                        
                                                                  
                                 Core                             
Hole           From       To   Length                             
Number          (m)      (m)      (m)     Ni %     Cu %       Co %
------------------------------------------------------------------
MQ-13-010                           NSA(i)                        
------------------------------------------------------------------
MQ-13-011     31.76    35.98     4.22     0.18     0.06       0.01
------------------------------------------------------------------
MQ-13-012     62.44    64.00     1.56     0.10     0.02       0.01
------------------------------------------------------------------
MQ-13-013    162.00   164.00     2.00     0.13     0.03       0.01
------------------------------------------------------------------
MQ-13-014     47.50    48.00     0.50     0.20     0.07       0.01
------------------------------------------------------------------
MQ-13-014     54.48    55.46     0.98     0.20     0.05       0.01
------------------------------------------------------------------
MQ-13-014     64.00    65.00     1.00     0.20     0.04       0.01
------------------------------------------------------------------
MQ-13-015                           NSA(i)                        
------------------------------------------------------------------
MQ-13-016     18.65    62.47    43.82     0.22     0.07       0.01
------------------------------------------------------------------
MQ-13-016     18.65    21.50     2.85     0.68     0.14       0.02
------------------------------------------------------------------
MQ-13-016     34.55    35.23     0.68     1.24     0.23       0.04
------------------------------------------------------------------
MQ-13-016     48.30    49.56     1.26     1.44     0.34       0.05
------------------------------------------------------------------
MQ-13-017     69.08    71.00     1.92     0.23     0.07       0.01
------------------------------------------------------------------

Table 3. Summary of drill holes with sulphide intercepts and assay results  
 from regional exploration on the property                                  
Regional Exploration Holes                                                  
                                                                            
Hole                                       TPM          True_Width          
Number       Pt g/t   Pd g/t   Au g/t  g/t (1)      S %        (m) Zone     
----------------------------------------------------------------------------
MQ-13-010                           NSA(i)                         P-63     
----------------------------------------------------------------------------
MQ-13-011      0.04     0.01     0.01     0.06     1.26         NC P-97     
----------------------------------------------------------------------------
MQ-13-012      0.03     0.03     0.00     0.06     0.44         NC P-30     
----------------------------------------------------------------------------
MQ-13-013      0.01     0.01     0.00     0.02     0.56         NC P-61     
----------------------------------------------------------------------------
MQ-13-014      0.01     0.00     0.00     0.01     1.26         NC P-32     
----------------------------------------------------------------------------
MQ-13-014      0.00     0.00     0.00     0.00     1.15         NC P-32     
----------------------------------------------------------------------------
MQ-13-014      0.00     0.00     0.00     0.00     0.64         NC P-32     
----------------------------------------------------------------------------
MQ-13-015                           NSA(i)                         P-22A    
----------------------------------------------------------------------------
MQ-13-016      0.02     0.01     0.01     0.04     1.27         NC P-22B    
----------------------------------------------------------------------------
MQ-13-016      0.07     0.02     0.02     0.11     3.30         NC including
----------------------------------------------------------------------------
MQ-13-016      0.14     0.04     0.01     0.19     6.36         NC including
----------------------------------------------------------------------------
MQ-13-016      0.20     0.05     0.07     0.32     7.92         NC including
----------------------------------------------------------------------------
MQ-13-017      0.02     0.01     0.01     0.04     1.78         NC P-22B    
----------------------------------------------------------------------------
Note: (m) = metres,% = percent, g/t = grams per tonne, NC = not calculated  
NSA(i) - no significant assays                                              

1.  TPM is total precious metals (gold+platinum+palladium) 



Table 4. Collar coordinates of regional drill holes MQ-13-010 to MQ-13-017. 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.




                  UTM      UTM       UTM   Length                           
Hole Number      East    North Elevation (metres)  Azimuth      Dip Target  
----------------------------------------------------------------------------
MQ-13-010      456032  7218322       713      200      159      -50 P-63    
----------------------------------------------------------------------------
MQ-13-011      461980  7216150       285      101      189      -50 P-97    
----------------------------------------------------------------------------
MQ-13-012      471440  7217072       254      101      319      -50 P-30    
----------------------------------------------------------------------------
MQ-13-013      472278  7217331       295      173      149      -60 P-61    
----------------------------------------------------------------------------
MQ-13-014      472655  7217521       185      181      327      -60 P-32    
----------------------------------------------------------------------------
MQ-13-015      470255  7231757       504   114.82      335      -60 P-22A   
----------------------------------------------------------------------------
MQ-13-016      470270  7231729       494      116      148      -60 P-22B   
----------------------------------------------------------------------------
MQ-13-017      470255  7231757       504      176      152      -62 P-22B   
----------------------------------------------------------------------------



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.


2013 VTEM FLYING SUMMARY

In 2013 NAN flew an additional 917.3 line-km of VTEM helicopter borne time
domain electromagnetic and magnetic surveys over portions of the Maniitsoq
property. A total of nine flight blocks were surveyed. They covered norite and
other mafic-ultramafic intrusions outside the Greenland Norite Belt (GNB) as
well as areas within the belt that required more detailed surveying. Significant
new conductors were identified in the Pingo norite intrusion, situated about 14
km north of the GNB; in areas to the south and southeast of the GNB; and, within
the GNB itself. These new conductors are currently being evaluated in
preparation for next year's drilling program.


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's covering numerous high-grade nickel-copper sulphide occurrences
associated with norite and other mafic- ultramafic intrusions of the Greenland
Norite Belt (GNB). The 75km-longplus 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 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 1-4, please visit the following link:
http://media3.marketwire.com/docs/903627i.pdf 



FOR FURTHER INFORMATION PLEASE CONTACT: 
North American Nickel Inc.
Evan Sleeman
604-986-2020 or Toll Free: 1-866-816-0118

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