North American Nickel Reports New Nickel Sulphide-Discoveries From Southern Coastal Zone at Maniitsoq


VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov 11, 2014) - North American Nickel Inc. (TSX VENTURE:NAN)(WSCRF)(CUSIP:65704T 108)(the “Company”) is pleased to report assay and borehole electromagnetic survey results for drill holes testing the P-030 and P-053 regional targets, located in the southern portion of the Company’s 100% owned Maniitsoq Nickel-Copper-Cobalt and PGM project in southwest Greenland. With these assay results the Company has now confirmed multiple prospects hosting Ni-Cu-Co & PGM sulphide mineralization along the entire length of the Greenland Norite Belt (“GNB”).

Highlights include:

  • MQ-14-070 (P-030): 20.10 metres of 0.63% Ni, 0.20% Cu and 0.18 g/t Pt+Pd+Au including:
    • 1.86% Ni, 0.52% Cu and 0.49 g/t Pt+Pd+Au over 1.2 metres; and
    • 1.99% Ni, 0.33% Cu and 0.42 g/t Pt+Pd+Au over 0.75 metres
  • MQ-14-071 (P-053): Three high conductance off-hole anomalies detected in a fluxgate borehole electromagnetic (EM) survey and located at the same depth as narrow chalcopyrite-rich stringer sulphides grading up 0.85% Ni, 1.80% Cu and 0.56 g/t Pt+Pd+Au over 0.24 metres.

NAN President and Interim CEO, Mark Fedikow, commented: “These positive assays containing elevated Ni, Cu and PGM values and strong borehole geophysical results confirm the exploration potential at the P-030 and P-053 targets. In particular, the exceptional and multiple off-hole conductors at P-053 are interpreted to be sulphide-related and hosted within mineralized norite. These are some of the most significant down hole conductors defined and measured at Maniitsoq to date.

“Importantly these results confirm the Ni-Cu-PGM potential of Maniitsoq from the Northern Zone (Pingo) through the Central Area (Imiak Hill Complex, Fossilik, P-013) to the Southern Coastal Zone (P-053), adding to the growing list of discoveries and sulphide prospects by the Company.

“The 2014 regional drilling program has been successful in confirming the district scale “nickel sulphide magmatic system” hosted by the GNB. Based on the strength of these results, and the assays pending for sulphides intersected in drill holes MQ-14-072 at Imiak Hill and MQ-14-073 at Mikissoq, we look forward to drill testing additional regional targets and also expanding our helicopter-borne electromagnetic (VTEM) survey coverage in 2015.”

Results for two drill holes testing the P-030 and P-053 regional targets are reported below and provided in Tables 1 and 2 and Figures 1 and 2. Figures may be viewed using the link provided with this release.

REGIONAL TARGETS

Southern Maniitsoq Coastal Area

The prospects P-030 and P-053

P-030

The P-030 area is located forty kilometres south of the Imiak Hill Complex in the southern portion of the Maniitsoq property. The target consists of a helicopter-borne electromagnetic (VTEM) anomaly detected on three flight lines spaced 100 metres apart and coincident with a large norite body and the historic Nunanguit nickel sulphide prospect.

The Nunanguit prospect was tested by a cluster of short, historic holes drilled in 1970, all of which intersected near surface, norite-hosted nickel sulphide mineralization. Significant intersections included 1.20% Ni and 0.48% Cu over 2.9 metres and 0.65% Ni and 0.29% Cu over 16.75 metres.

In 2013, the Company completed hole MQ-13-012 to test the newly identified P-030 VTEM anomaly located immediately to the east of the historic drilling and intersected mainly norite and gabbronorite locally containing trace amounts of nickeliferous sulphides.

In 2014, one hole (MQ-14-070) positioned 60 metres down-dip of MQ-13-012, was completed to a depth of 158.0 metres in order to further test the P-030 target (see Figures 1 and 2). MQ-14-070 intersected a broad zone of norite-hosted disseminated sulphides from 22.0 to 60.85 metres grading 0.44% Ni and 0.14% Cu over 38.85 metres. The lower portion of this zone returned values of 0.63% Ni and 0.20% Cu over 20.1 metres from 40.75 to 60.85 metres and included individual samples grading 1.99% Ni, 0.33% Cu and 0.42 g/t Pt+Pd+Au over 0.75 metres as well as 1.86% Ni, 0.52% Cu and 0.49 g/t Pt+Pd+Au over 1.2 metres. A second disseminated sulphide zone was intersected from 112.2 to 130.0 metres grading 0.33% Ni, 0.11% Cu and 0.26 g/t Pt+Pd+Au over 17.8 metres. The mineralization remains open.

Borehole electromagnetic (BHEM) surveys of MQ-13-012 and MQ-14-070 indicate the presence of two off-hole BHEM anomalies, one located between the two holes and the other located immediately west of hole MQ-14-070. These anomalies are interpreted to correlate with the upper disseminated sulphide zone in hole MQ-14-070.

The mineralization intersected in MQ-14-070 enhances the exploration potential of the P-030 norite body and the elevated precious metal (Pt+Pd+Au) contents resemble both the Spotty Hill and Pingo area sulphide mineralization. P-030 will be ranked along with the growing list of targets which merit future follow-up.

P-053

The P-053 target area is located forty-five kilometres southwest of the Imiak Hill Complex and twenty kilometres west of the P-030 area in the southern portion of the Maniitsoq property. The target consists of a strong VTEM anomaly detected on two flight lines spaced 100 metres apart and coincident with a 300 metre long outcropping of norite locally containing nickeliferous disseminated sulphides. The area has no previous drilling.

One hole, MQ-14-071, was completed to a depth of 194 metres to test the VTEM anomaly (see Figures 3 and 4). The noritic intrusion was intersected from 38.55 to 166.78 metres and included two narrow intervals of sulphide mineralization with elevated metal values:

  • 1.35 metres of disseminated and patchy sulphides grading 0.60% Ni and 0.09% Cu from 93.65 to 95.0 metres and
  • A 0.65 metre norite interval from 108.52 to 109.17 metres containing two narrow bands of chalcopyrite-rich stringer sulphides grading 0.47% Ni, 2.66% Cu and 0.16 g/t Pt+Pd+Au over 0.11 metres and 0.85% Ni, 1.80% Cu and 0.56 g/t Pt+Pd+Au over 0.24 metres.

Two separate borehole electromagnetic surveys were carried out in MQ-14-071 including an initial inductive coil survey followed by a fluxgate sensor survey to better resolve highly conductive anomalies. Three strong, high conductance off-hole BHEM anomalies were detected at depths of 105, 115 and 120 metres, the strongest of which correlates with the depth at which the copper-rich stringer sulphides were intersected (Figure 4).

The three off-hole BHEM anomalies detected at P-053 are amongst the strongest responses seen on the Maniitsoq property and represent high priority targets for drill testing in 2015. Immediately to the south of P-053, norite outcrops have been mapped but lie outside our VTEM coverage and represent high priority areas for flying new VTEM surveys in 2015.

Quality Control

Drill core assay results are evaluated as part of a Quality Assurance and Quality Control procedure that includes the use of matrix matched multi-element, certified standards with known precious and base metal values and blank standards to determine accuracy and precision of analytical results. Core sample analysis was completed by SGS Laboratories of Vancouver, Canada. Three methods of analysis were used to determine element concentrations in the rock samples submitted to SGS. 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 >1.00% Ni or Cu were re-analyzed by Sodium Peroxide Fusion ICP-AES calibrated for ore grade detection limits.

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, President and Interim CEO, North American Nickel Inc.

About North American Nickel

North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Sudbury, Ontario.

The Maniitsoq property in Greenland is a Camp scale project comprising 3,601 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 >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

John Roozendaal, Director, 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.

Table 1: Assay Results

Hole Number From
(m)
To
(m)
Core
Length
(m)
Ni % Cu % Co % TPM
g/t
P-030 Regional Target
MQ-14-070 22.00 60.85 38.85 0.44 0.14 0.02 0.12
incl. 40.75 60.85 20.10 0.63 0.20 0.02 0.18
incl. 45.40 46.15 0.75 1.99 0.33 0.06 0.42
and 53.30 54.50 1.20 1.86 0.52 0.06 0.49
112.20 130.00 17.80 0.33 0.11 0.02 0.26
P-053 Regional Target
MQ-14-071 93.65 95.00 1.35 0.60 0.09 0.02 0.12
108.52 109.17 0.65 0.41 1.13 0.02 0.23
incl. 108.52 108.63 0.11 0.47 2.66 0.02 0.16
and 108.93 109.17 0.24 0.85 1.80 0.03 0.56

Notes: Intervals represent core lengths, not necessarily true widths.

TPM – total precious metals (Au+Pt+Pd)

NSA – No Significant Assays

Table 2: Drill Collar Information

Hole Number UTM
East
UTM
North
Elevation
(m)
Length
(m)
Azimuth Dip Area
MQ-14-70 471466 7217013 241.00 158.00 330° -50° P-030
MQ-14-071 451450 7220194 373.00 194.00 025° -65° P-053

Note: Collar coordinates in UTM WGS84 Zone 22

To view the figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/nan1111figures.pdf.

Contact:
North American Nickel Inc.
Jaclyn Ruptash
Corporate Communications
604-986-2020 or Toll free: 1-866-816-0118

About author

This article was written by The Wall Street Analyzer

The Wall Street Analyzer's staff of writers, analysts, publishers, producers, market researchers, and PR professionals aim to provide investors with the tools they need to make informed decisions on buying stock. Our staff is a mix of financial professionals and media savvy individuals whose experiences bring the best talent from both ends of the spectrum. On one hand our financial experience gives us the ability to identify promising, off the grid companies before they are uncovered by the rest of the market, and on the other hand our media experience allows us to produce interviews which appeal to a large audience because we provide a format in which more investors can understand a featured companies' upside. Our philosophy is to turn stock tickers into stories, ideas into headlines, and technical and financial data into easy to understand tidbits, easier to digest and therefore consumed by a larger audience. These interviews provide a jumping off point for investors to do further research into a prospective company. Our editorials seek to provide an out-of-the-box perspective found in few other financial sites.