Nickel One Resources Inc. To Commence Drilling At Tyko Nickel Project
Vancouver - Nickel One Resources Inc. (the “Company”) (TSXV: NNN) (formerly Redline Resources Inc.) is pleased to announce the immediate commencement of a minimum 1500m, 10 hole diamond drilling program on its recently acquired Tyko Nickel Project (the “Property). The purpose of the program is to validate historical diamond drill results on the Property and extend known areas of mineralization. There are two significant Nickel-Copper-Platinum-Group Elements (“PGE”) showings on the Tyko Project; the RJ and Tyko Showings. These showings are separated by 2 km with a 10km ultramafic conduit structure has strong potential to host additional Nickel-Copper-PGE mineralization. To date, only 12 shallow drill holes have been completed on the Tyko Property. The two most significant drill holes are noted below:
| Hole # | From_m | To_m | Length_m | Ni_pct | Cu_pct | Pd_ppm |
| TK-06-001 | 17.40 | 21.55 | 4.15 | 1.09 | 0.76 | 0.42 |
| TK-06-005 | 25.00 | 31.20 | 6.20 | 1.05 | 0.50 | 0.12 |
This drilling program is planned to confirm orientation of mineralization in the channel structures, extend the continuity of mineralization at the RJ and Tyko showings and test additional targets. The drilling program is expected to cost approximately $300,000.
CEO Michael Collins comments, "The board and management are very excited to be bringing the Tyko Project to the public market and to be drilling so quickly after opening to trade. With two great targets to start and 10 km of potential on the projected channel structure, there is lots of room to find additional mineralization".
The Company also announces the appointment of Vance Loeber to Vice President, Corporate Development. Vance has over 30 years of international finance experience and specialises in resource funding. Vance was one of the founders of U.S. Silver, Sandspring Resources and Carlisle Goldfields.
About Nickel One and the Tyko Property
Nickel One is a newly created public company focused on creating value for shareholders through exploration and development of high quality Nickel copper-PGE projects. Nickel One is committed to exploration and development of the Tyko Project, which comprises 52 mining claims, totalling 698 claim units on 11,168 hectares located in the Olga Lake area, Thunder Bay Mining District, Ontario, Canada.
The following is a summary of the interpretations, conclusions and recommendations contained in that technical report (the “Report”) prepared by Alan Aubut, P.Geo. of Sibley Basin Group Geological Consulting Services Ltd., dated April 28, 2015, entitled “National Instrument 43-101 Technical Report, Tyko Nickel-Copper Occurrence, White Lake Area, Ontario, Canada, Thunder Bay Mining Division, NTS 42C13NW and 42C14NE, Geology Technical Report. A full copy of the report has been filed under the Company’s profile on SEDAR at www.sedar.com.
The Property is underlain by Archean gneisses, granites, tonalites and mafic-ultramafic rocks that have undergone high-grade metamorphism. Exploration to date has identified nickel, copper and PGE mineralization in mafic-ultramafic rocks at the RJ and Tyko showings which may represent a feeder system to the nearby large (>10km in diameter) Bulldozer Intrusive Complex.
The Property shows many similarities with mafic to ultramafic feeder systems such as Voisey’s Bay in northern Labrador and Jinchuan in China. These deposits are characterized by magmatic sulphides collecting within the feeder of a large intrusive body due to variations in geometry that caused changes in flow dynamics such that immiscible sulphides were able to settle out and collect in structural traps. However it has not been proven that a comparable system exists on the property.
The Report summarizes previous drilling on the property by earlier operators (Table 1). While it is concluded that the Property has excellent potential for hosting an economic nickel-copper deposit, additional work needs to be done to locate and define such a deposit. This includes completing a mechanical stripping program to better expose the interpreted feeder system and additional diamond drilling to confirm its lateral extent and to test areas identified by geophysics as having greater concentrations of sulphides which may or may not contain nickel, copper and platinum group elements. The report recommends a phased exploration approach with a total projected cost of completing the first phase of CAD$396,000
Table 1: Historical drilling results from the Tyko Project (2006/07); Aubut, 2015
| Hole # | From_m | To_m | Length_m | Ni_pct | Cu_pct | Pd_ppm |
| TK-06-001 | 17.40 | 21.55 | 4.15 | 1.09 | 0.76 | 0.42 |
| TK-06-002 | 30.15 | 31.61 | 1.46 | 1.02 | 0.58 | 0.71 |
| TK-06-003 | 63.92 | 65.00 | 1.08 | 1.06 | 0.51 | 0.12 |
| TK-06-004 | 82.00 | 84.00 | 2.00 | 1.20 | 0.51 | 0.13 |
| TK-06-005 | 25.00 | 31.20 | 6.20 | 1.05 | 0.50 | 0.12 |
| TK-07-001 | 67.00 | 70.00 | 3.00 | 0.39 | 0.33 | 0.12 |
| 138.50 | 142.60 | 4.10 | 0.30 | 0.22 | 0.04 | |
| TK-07-002 | 100.00 | 104.65 | 4.65 | 0.43 | 0.28 | 0.04 |
| TK-07-003 | 105.50 | 107.00 | 1.50 | 0.80 | 0.38 | 0.13 |
| TK-07-004 | NSV | |||||
| TK-07-005 | NSV | |||||
| TK-05-006 | 82.00 | 83.00 | 1.00 | 0.34 | 0.51 | 0.24 |
- NSV: No significant values
- True width indeterminate
This drilling program will be supervised by Neil Pettigrew, P.Geo., Vice-President of Fladgate Exploration Consulting, Thunder Bay. Mr. Pettigrew is a Qualified Person in the evaluation of Nickel-Copper-Platinum Group Element (Ni-Cu-PGE) deposits and has reviewed and approved this press release. Mr. Pettigrew will also be responsible for the QA/QC design and sampling protocol for the analysis of drill core from the Tyko Nickel Project and reporting.
Nickel One also announces that it has commenced trading on the Frankfurt Stock Exchange under the symbol: 7N1.
ON BEHALF OF THE BOARD:
VP Corporate Development
For further information contact:
Vance Loeber
Phone:
Fax: 778-327-6675
Email: info@nickeloneinc.com
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Nickel One Resources Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
