Nickel One Resources Inc. Announces Initial Drill Results from the Tyko Project, including 1.04% Nickel over 16.19m
Vancouver - Nickel One Resources Inc. (“Nickel One” or the “Company”, TSXV:NNN) announces the results of initial drilling on its 100%-owned, Tyko Nickel-Copper-Platinum Group Element (“Ni-Cu-PGE”) Project near Marathon in northwestern Ontario. Drill hole TK-16-002 intersected 1.04% Ni over 16.19m from 77.65m to 93.84m downhole (Table 1). Nickel One’s President and CEO, Vance Loeber commented that: “Assays from the initial four holes from the recent drilling program on the RJ Zone at the Tyko Property, showcase considerable potential for the Project. A new magma conduit model, developed by Fladgate Exploration Consulting, was tested at RJ. Initial results support this model which potentially links the RJ and Tyko Zones (separated by 1.5km) as part of pipe-like feeder system (Figures 1 and 2).”
The RJ Zone consists primarily of metamorphosed mineralized pyroxenite which has been intruded by later granitoid rocks. The mineralized pyroxenite contains abundant rip-up clasts of other mafic-ultramafic phases and clastic sediments indicative of an active feeder-type system. The mineralization is nickel-rich with an average Ni:Cu ratio of ~2:1 and a Pt:Pd ratio of ~1:1. Sulphides are typically disseminated to blebby with local patches of net-textured and semi-massive sulphide breccia.
The sulphide tenors of the Ni-Cu-PGE mineralization on the Tyko Property are very high. Limited analysis by previous workers indicate tenors in 100% sulphide that average 13.0% Ni, 8.8% Cu, 6.6g/t PGE (Pt+Pd) at the RJ Zone and 12.9% Ni, 14.5% Cu, and 13.6g/t PGE at the Tyko Zone. Additional analysis are currently underway to better define the sulphide tenors of the various magmatic phases.
The high tenor of the sulphide suggests a high value flotation concentrate from RJ or Tyko style mineralization. This indicates that even a disseminated sulphide deposit could potentially be economic and adds further support to the view that Nickel One’s 100% owned Tyko Project contains a fertile magmatic feeder system. The Company’s objective is to delineated this feeder system and ultimately develop a mineral resource on the Property.
The current updates include interim results from an initial 580 metres of drilling in 4 holes out of a total of 1780 metres in 14 holes on the 2016 drilling program that targeted the the RJ and Tyko zones (Figure 2). A third target, termed the “Bruce Lake Anomaly”, was also tested with results pending.
Table 1: Composite Weighted Average Assay Intervals, Tyko Project, Q2/2016 Drilling
| Hole No. | Zone | From m | To m | Length m | Ni wt% | Cu wt% | Au ppm | Pt ppm | Pd ppm | Total PGE ppm |
| TK-16-001 | RJ Zone | 3.60 | 92.50 | 88.90 | 0.26 | 0.14 | 0.01 | 0.04 | 0.04 | 0.09 |
| Sub Zone | 7.65 | 14.26 | 6.61 | 0.54 | 0.27 | 0.02 | 0.15 | 0.09 | 0.26 | |
| Sub Zone | 19.70 | 23.70 | 4.00 | 0.51 | 0.34 | 0.02 | 0.06 | 0.05 | 0.13 | |
| Sub Zone | 32.50 | 42.09 | 9.59 | 0.62 | 0.28 | 0.01 | 0.07 | 0.08 | 0.16 | |
| Including | 37.90 | 42.09 | 4.19 | 0.89 | 0.35 | 0.01 | 0.08 | 0.09 | 0.19 | |
| Including | 37.90 | 39.00 | 1.10 | 1.67 | 0.56 | 0.03 | 0.14 | 0.16 | 0.33 | |
| Including | 37.90 | 38.50 | 0.60 | 2.31 | 0.88 | 0.05 | 0.16 | 0.22 | 0.43 | |
| TK-16-002 | RJ Zone | 15.00 | 100.42 | 85.42 | 0.52 | 0.23 | 0.01 | 0.10 | 0.09 | 0.21 |
| Sub Zone | 23.69 | 26.14 | 2.45 | 0.94 | 0.25 | 0.01 | 0.23 | 0.24 | 0.49 | |
| Including | 24.85 | 25.48 | 0.63 | 2.05 | 0.37 | 0.03 | 0.58 | 0.52 | 1.13 | |
| Sub Zone | 35.00 | 37.00 | 2.00 | 0.53 | 0.23 | 0.03 | 0.15 | 0.15 | 0.33 | |
| Sub Zone | 52.75 | 96.87 | 44.12 | 0.79 | 0.30 | 0.01 | 0.12 | 0.11 | 0.24 | |
| Including | 58.25 | 66.50 | 8.25 | 1.04 | 0.54 | 0.01 | 0.12 | 0.12 | 0.26 | |
| Including | 66.00 | 66.50 | 0.50 | 2.89 | 0.45 | 0.01 | 0.27 | 0.35 | 0.63 | |
| and | 77.65 | 93.84 | 16.19 | 1.04 | 0.23 | 0.00 | 0.15 | 0.12 | 0.28 | |
| Including | 78.62 | 90.00 | 11.38 | 1.23 | 0.26 | 0.00 | 0.18 | 0.13 | 0.32 | |
| Including | 82.00 | 83.00 | 1.00 | 1.97 | 0.19 | 0.00 | 0.17 | 0.12 | 0.29 | |
| TK-16-003 | RJ Zone | 2.47 | 99.26 | 96.79 | 0.18 | 0.11 | 0.00 | 0.02 | 0.02 | 0.05 |
| Including | 2.47 | 38.20 | 35.73 | 0.29 | 0.17 | 0.01 | 0.03 | 0.04 | 0.07 | |
| Including | 24.97 | 25.91 | 0.94 | 0.72 | 0.35 | 0.00 | 0.07 | 0.14 | 0.21 | |
| Including | 30.00 | 30.70 | 0.70 | 0.82 | 0.24 | 0.00 | 0.08 | 0.08 | 0.16 | |
| TK-16-004 | RJ Zone | 92.50 | 97.10 | 4.60 | 0.26 | 0.13 | 0.00 | 0.02 | 0.03 | 0.06 |
| Including | 96.40 | 97.10 | 0.70 | 0.77 | 0.25 | 0.00 | 0.04 | 0.09 | 0.13 |
**Reported widths are drilled core lengths, true widths are unknown at this time.
Figure 1: Tyko Project, 2016 Initial Drill Targets
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Figure 2: Magma Conduit Model, RJ Zone, 2016 Initial Drill Targets
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QA/QC
The Nickel One drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P.Geo., VP, Fladgate Exploration Consulting Corporation and a Qualified Person as defined by NI 43-101, who reviewed and approved the technical content of this press release.
Samples were transported in secure bags directly from the Nickel One core handling facility in White River, Ontario, to the Accurassay Laboratories in Thunder Bay, Ontario. Accurassay, which is an accredited ISO/IEC 17025 lab, analysed the samples for PGEs using a 30 grams fire assay with an ICP-OES finish and for Ni, Cu, and Co using 0.25 grams by 4 acid digestion with ICP-OES finish. Ni, Cu and Co samples over 0.5 wt% were re-analysed using 2.5 grams by 4 acid digestion with ICP-OES finish.
Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 20 core samples. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used.
About Nickel One: Nickel One Resources Inc. is a new base metal (copper, nickel) and precious metal (platinum, palladium) exploration and development company evaluating the Tyko Property near Marathon, Ontario, Canada. Nickel One’s objective is to efficiently advance the Tyko Project through exploration and development to a mineral resource. The Company intends to build shareholder value through accretive acquisition of additional promising assets.
ON BEHALF OF THE BOARD:
President & CEO, Director
“Vance Loeber”
For further information contact:
Vance Loeber
Phone: 1-604-805-3530
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.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in gold and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to U.S. Shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Source: Nickel One Resources Inc. (TSX Venture:NNN) http://www.nickeloneinc.com
