North American Nickel Reports Update on Maniitsoq Project
Vancouver, August 27, 2019 - North American Nickel Inc. (TSXV: NAN) (OTCBB: WSCRF) (CUSIP: 65704T 108) (the "Company") is pleased to provide an update on its 100% owned Maniitsoq nickel-copper-cobalt-PGM project in Southwest Greenland. North American Nickel is a publicly listed Canadian junior-exploration company dedicated to the discovery and development of nickel-copper-cobalt deposits. NAN's strategy is to focus on nickel-copper-cobalt assets located in countries governed by the Rule-of-Law and that should be successfully developed into mines assuming conservative long-term nickel prices (US$12,000/T). Our primary asset is the Maniitsoq Project, which is a camp scale project 3,048sq km.
NAN has been exploring the Greenland Norite Belt (GNB), contained within the Maniitsoq Project since 2011. In 2015 NAN began systematic exploration of the noritic intrusions contained within the GNB. Many of these intrusions include outcrops of oxidized nickel-copper-cobalt sulphides known as gossans. NAN applied modern geoscience techniques to characterize and prioritize these gossans and determine where they continued underground. This strategy led to the discovery of many well mineralized systems, documented in numerous press releases since 2013 and in the 43-101 reports which can be found on the Company's website. www.northamericannickel.com
In 2018 the Company modified the exploration strategy to target specific high magnesium oxide (MgO) zones within the norite and to drill deeper within the intrusion to identify significant nickel-copper-cobalt sulphide mineralization. The 2018 drilling season was very productive. NAN completed 14,288m of drilling and successfully tested several high magnesium oxide intrusions. The results were prospective but did not host sufficient nickel-copper-cobalt mineralization that would be economic within those individual intrusions.
Based upon the cumulative credits from exploration undertaken to date, NAN has secured its tenure over 3,048 square kilometers at Maniitsoq until 2021. NAN remains committed to ongoing exploration at Maniitsoq and is currently planning to return to Maniitsoq for the 2020 summer season subsequent to a successful financing capable of supporting our integrated exploration programs.
Work is ongoing in preparing plans for a program of field work to evaluate the Ni-Cu-Co and precious metal potential on our current and new Canadian assets which can be explored year-round.
About North American Nickel
North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Ontario, Canada.
The Maniitsoq property in Greenland is a Camp scale permitted exploration project comprising 3,048 square km covering numerous high-grade nickel-copper + cobalt 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 accessible from the existing Seqi deep water port with an all year-round shipping season and hydroelectric power potential from a quantified watershed.
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.
The Company recently acquired 100% ownership of property near the southern extent of the Lingman Lake Greenstone Belt in northwest Ontario known as Lingman Nickel and in the Quetico region near Thunder Bay Ontario. The acquisition of these properties are part of the company's strategy to develop a pipeline of new nickel projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Keith Morrison
Chief Executive Officer
North American Nickel Inc.
For more information contact:
North American Nickel Inc.
Jaclyn Ruptash
Corporate Communications
(604) 770-4334
Toll free: 1-866-816-0118
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47327
