North American Nickel Receives Final Data for Recently Completed VTEMplus Survey over its Maniitsoq Ni-Cu-PGE Project, Southwest Greenland
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/09/12 -- North American Nickel Inc. (TSX VENTURE: NAN)(OTCBB: WSCRF) (CUSIP: 65704T 108) North American Nickel ("NAN") is pleased to report that it has received the final electromagnetic (EM) and magnetic datasets from Geotech Ltd. for the VTEMplus survey completed over its 100% owned Maniitsoq project in July. As outlined in the NAN press release dated July 24, 2012 fifty conductive zones were identified in the 2012 VTEMplus preliminary data. Detailed interpretation is now being done on the final data in preparation for drilling later in August.
The detailed interpretation work includes modeling of selected higher priority EM conductors and determining their orientation and potential extent in three dimensions. An example of this modeling for two conductors, P-28 and P-33, is shown in Figure 1.
These conductors are located in the central east part of the Greenland Norite Belt (GNB) as shown in Figure 2. The modeling indicates both have significant strike (400 to 600 m) and dip extents (800 m). These conductors have not been field checked or drilled, so it is not yet known what is causing them. It is encouraging that significant conductors clearly exist in the GNB, as historic exploration was hampered by a lack of EM targets to guide drilling (see NAN press release dated August 15, 2011).
NAN CEO, Rick Mark, states: "We are very pleased with the discovery, to date, of over 70 conductors at our 100% owned Maniitsoq project in Greenland. And, we have now identified sizable anomalies, as the apparent strike length of some of them exceeds 1 km. Since our exploration goal is a new nickel camp, it is most encouraging to see several of these sizable targets within the core of the norite intrusive belt."
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 Figures 1 and 2 please click on the following link: http://media3.marketwire.com/docs/0809NAN.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 26M 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 70km 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.
On Behalf of the Board of Directors
Dr. Mark Fedikow, P.Geo., President & Chief Operating Officer
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:
Freeform Communications Inc.
Ali Sinawi or Robert Ferguson
(604) 288-7222
North American Nickel Inc.
Evan Sleeman
(604) 986-2020 or Toll Free: 1-866-816-0118
www.northamericannickel.com
