North American Nickel Inc.: Deepest Drill Hole at Imiak Hill Returns High Grade Nickel-Copper-Cobalt Values
Hole MQ-13-028 Grades 3.80% Ni, 1.42% Cu Over 17.91 Meters
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 7, 2013) - North American Nickel Inc. (TSX VENTURE:NAN) (OTCBB:WSCRF) (CUSIP: 65704T 108) (the "Company") is pleased to announce that the deepest sulphide intersection to date at Imiak Hill has returned high-grade nickel-copper-cobalt assays demonstrating that the mineralization has continuity and remains open at depth. Imiak Hill is one of three mineralized norites comprising the Imiak Hill Conduit Complex (IHCC), which also includes the Imiak North and Spotty Hill norites.
The IHCC is located in the northern part of the Company's 100% owned Maniitsoq Nickel - Copper - Cobalt and PGM project in southwest Greenland (figures 1 and 2).
IMIAK HILL
DDH MQ-13-028: at 182m down the hole:
- Intersected 24.75m grading: 3.19% nickel, 1.14% copper, 0.11% cobalt, and 0.01 g/t PGM
- Including: 17.91m of 3.80% nickel, 1.42% copper, 0.13% cobalt and 0.01 g/t PGM
- including: 2.40m of 4.44% nickel, 1.13% copper, 0.15% cobalt and 0.01 g/t PGM
The mineralization in MQ-13-028 corresponds to Zone 30, one of three mineralized zones so far discovered in the Imiak Hill norite (see NAN news releases dated August 23, September 5 and October 10, 2013 for details and Figure 3).
As can be seen from the longitudinal section in Figure 4 and cross section in Figure 5, the mineralization in MQ-13-028 occurs 35 to 75 meters down plunge from previous high-grade intersections in holes MQ-13-026 (25.51m grading 3.25% nickel, 0.48% copper and 0.11% cobalt) and MQ-13-024 (14.90m grading 2.67% nickel, 0.39% copper and 0.09% cobalt). The Company's 2013 drilling, and corresponding assay results, confirm that the sulphide mineralization at Imiak Hill is high-grade, has continuity and remains open at depth. The company is awaiting further assays from other prospects at Maniitsoq.
NAN COO, Neil Richardson, states: "Hole 28's high grade core contains similar values to hole 26 which support our magma conduit model of high grade nickel-copper-cobalt mineralization at Imiak Hill. We were interested to see the much higher copper grade in hole 28, reflected in more chalcopyrite in the near solid sulphide mineralization we reported earlier this fall. At 180 meters vertically below surface MQ-13-028 is the deepest intersection to date at Imiak. It has a true width of approximately 11.2 meters, and importantly, remains open at depth."
Richardson continues: "The 2014 drill program will focus on expanding the known mineralized zones and exploring for additional mineralization within the IHCC. Specifically, we will be looking for geological environments suitable for the accumulation of large quantities of nickel-copper-cobalt sulphide mineralization. Our main targets will be the footwall contacts of the norite bodies, embayments along these contacts and other parts of the conduit system where the velocity of nickel-rich norite magma may have been locally reduced. Also, the possibility that mineralization may extend beyond the norite bodies into the surrounding country rocks will be tested."
Details of the intersection are given in Table 1, location coordinates for MQ-13-028 are provided in Table 2 below and a copy of the drill log is available on the Company's website (www.northamericannickel.com). As can be seen from Table 1, this intersection includes a 4.44 m long section of unmineralized rock, which corresponds to a leucogabbro dyke.
To view Tables 1 and 2 please click on the following link: http://media3.marketwire.com/docs/NANTables-117.pdf.
As in previous holes drilled at Imiak Hill, the mineralization in MQ-13-028 is hosted within dark green-grey, massive, weakly magnetic norite with occasional clasts of coarser grained norite. Drill logs and additional maps are available on the company's website at http://www.northamericannickel.com/
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 Öjebyn, 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 >1.00% Ni or Cu were re-analyzed by ICP-AES calibrated for ore grade detection limits. Samples with >0.50% S were re-analyzed by Leco furnace and infrared spectroscopy.
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.
To view Figures 1-5 please click on the following link: http://media3.marketwire.com/docs/NANFigures-117.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 approximately 23.9% of NAN.
The Maniitsoq property in Greenland is a Camp scale project comprising 5,106 square kms 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
Rick Mark, CEO
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.
