North American Nickel Updates Maniitsoq Drill Program at Its 100% Owned Ni-Cu-PGE Project, Southwest Greenland; Richardson Appointed COO
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/06/12 -- North American Nickel Inc. (TSX VENTURE: NAN)(OTCBB: WSCRF)(CUSIP:65704T 108) ("NAN") is pleased to announce the completion of the first phase of drilling which occurred at the Imiak Hill target zone. This was the first of several priority target zones planned for drill testing during the 2012 drill program at Maniitsoq. Four holes totalling 666.59 meters were drilled on the target.
Holes MQ-12-001 and MQ-12-002 intersected sulphide mineralization and confirmed the North-North West orientation of the mineralization predicted by the EM data. The table below lists the NAN geologists' estimates of significant sulphide intersections in holes 1 and 2. Of note, the evidence of mineralization runs continuously from near surface at 5.32 m to 32.3 m in hole 001, and continuously from near surface at 5.13 m to 70.08 m in hole 002.
The sulphide mineralization consists of disseminated to local near solid sulphide sections. Photos of the mineralization are available on the company website (http://northamericannickel.com/Projects/Projects-Overview/Greenland/Maniitsoq/Maniitsoq-Drilling/default.aspx).
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From To Length Pyrrhotite Pyrite Chalcopyrite
Hole ID (m) (m) (i)(m) % % %
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MQ-12-001 5.32 5.56 0.24 15 7 trace
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MQ-12-001 5.56 11.82 6.26 2 2 trace
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MQ-12-001 11.82 16.94 5.12 20 10 trace
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MQ-12-001 16.94 20.84 3.9 trace nil nil
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MQ-12-001 20.84 32.3 11.46 10 5 1
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MQ-12-002 5.13 9.15 4.02 12 4 1
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MQ-12-002 9.15 15.78 6.63 2 1 nil
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MQ-12-002 15.78 23.35 7.57 7 3 1
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MQ-12-002 23.35 55.9 32.55 1 1 nil
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MQ-12-002 55.9 70.08 14.18 10 4 1
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(i) True widths are unknown. Intervals are core lengths.
Holes MQ-12-003 and MQ-12-004 tested the southern and northern extension of the EM anomaly associated with the Imiak Hill mineralization and provided a platform for borehole EM (BHEM) surveys. Preliminary interpretation of the BHEM surveys suggests the mineralization plunges moderately to the south, and is open at depth. The attached image (Image 1) shows the position of the helicopter and BHEM anomalies relative to historical and current drilling. In the image the interpreted BHEM anomalies are shown in red, the helicopter EM anomalies in blue, historical drill holes in grey and NAN's drill holes in white.
One important objective of the 2012 drilling at Imiak is to confirm the interpretation of helicopter-borne geophysical anomalies detected by surveys recently flown by the company. The interpretation of the anomalies at Imiak Hill suggests that historical shallow drilling paralleled to the north-northwest trend of the mineralization. The drill holes just completed each provide a platform for subsurface EM surveys. These surveys are managed on site by Crone Geophysics of Mississauga, Ontario and are done immediately after drilling is complete. These borehole surveys provide an image of the mineralization in three dimensions and enable much more accurate models from which to plan the next phase of drilling, when the Company returns to this target area.
At press time four holes have been logged and on September 10, 2012, the samples will be submitted to Actlabs of Ancaster, Ontario for assay. Base metal assays will be done by ICP using a 4-acid digestion. Gold, platinum and palladium will be analyzed for by fire assay on a 30 gram charge with an ICP-MS finish.
NAN CEO, Rick Mark, states: "First, I would like to compliment our Greenland team led by Chief Geologist, John Pattison. These intersections of sulphide mineralization, so early in the program, are most encouraging to us all. We are looking forward to assay results soon. Clearly, there is much more work to do on this very large and prospective property. While this drill program will test a few additional target zones in 2012, there are a total of 75 airborne anomalies in this camp sized project at Maniitsoq. We are already using this first in Greenland experience to begin planning for mounting a longer and bigger program for next year, as we continue our 2012 drilling this month."
The Company would also like to announce the appointment of Neil Richardson as Chief Operating Officer, and Cheryl Messier as Chief Financial Officer of NAN. Mark Fedikow will continue to act as President and a Director of the Company and Ed Ford will continue to act as a Director and Chairman of the Audit Committee.
MANIITSOQ PROJECT BACKGROUND
The Maniitsoq area has seen relatively little exploration activity given its very large size and abundance of nickel occurrences. Historical exploration records indicate drilling for nickel mineralization dates back to a period between 1965 and 1972 when 119 shallow drill holes were reported. The holes tested exposed sulphide mineralization and shallow electromagnetic (EM) anomalies directly associated with outcropping mineralization. All but a few were drilled to very shallow depths using small portable Winkie drills. The average hole length was just 53 meters.
Nevertheless, numerous significant intersections included:
- Imiak Hill: 9.85 meters @ 2.67% Ni, 0.60% Cu,
- Fossilik: 12.89 meters @ 2.24% Ni, 0.63% Cu, and
- Quagssuk: 4.95 meters @ 1.97% Ni, 0.43% Cu.
In 1995 Cominco Ltd, in conjunction with the Geological Survey of Denmark and Greenland (GEUS), flew a large portion of the GNB with a GeoTEM fixed wing, airborne EM system. Relatively few EM anomalies were detected. A review of this airborne survey data revealed that much of the survey was flown well above the minimum effective height needed to gather useful data and therefore detected few anomalies. Follow-up prospecting and limited surface geophysical surveys by Cominco in 1995 and 1996 and by Falconbridge Limited in 2000 did not lead to any drilling. Re-sampling of the drill core and surface showings by both Cominco and Falconbridge did, however, confirm the generally high nickel tenor of the sulphides (recalculated to approximately 8% nickel in 100% sulphide in the case of Falconbridge's work).
NAN acquired the project because it believes the area has the potential to host a major new nickel mining camp. By using modern, time-domain, helicopter-borne EM systems exploration will be more effective at detecting nickel sulphide deposits in the rugged terrain at Maniitsoq than the fixed wing survey flown in 1995. Helicopter TDEM systems were not available in 1995 and their availability and improved sensitivity to buried and blind nickel deposits provides NAN with a significant advantage over previous explorers.
For previous press releases and more information on NAN and the Maniitsoq project please visit the company website at www.northamericannickel.com.
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 and Chief Operating Officer, North American Nickel Inc.
To view "Image 1" accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/nan96i.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 approx. 27M shares of NAN.
The Maniitsoq property in Greenland is a district scale project. It comprises a 4,983 square km mineral exploration licence covering numerous high-grade nickel-copper sulphide occurrences associated with norite and other mafic-ultramafic intrusions. The 70 km plus long belt is situated along, and near, the southwest coast of Greenland, which is ice free year round.
The Post Creek/Halycon 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.
The Company has 100% ownership in the high-grade Ni-Cu-PGE South Bay property near Thompson, Manitoba and the large grassroots Thompson North and Cedar Lake properties, which are part of the world-class Thompson Nickel Belt in Manitoba.
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.
Contacts:
North American Nickel Inc.
Dr. Mark Fedikow, P.Geo.
President & Chief Operating Officer
604-986-2020 or Toll free: 1-866-816-0118
www.northamericannickel.com