Vancouver, British Columbia--(Newsfile Corp. - November 15, 2018) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T 108) (the "Company") is pleased to announce details of the 2018 exploration and drill program at its Post Creek nickel-copper-PGE sulphide project in Sudbury Ontario.
The 2018 work program will include:
- A targeted 1,000 metres of diamond drilling, including borehole electromagnetic (BHEM) surveys, following up on 2018 trench mapping, petrography and geochemistry studies and prospecting.
In the Sudbury Region, a compilation of geological and geophysical work has refined an understanding of the mineral potential of the Post Creek property, located at the northeastern margin of the Sudbury Basin (Figure 1). The identification of discontinuous segmented bodies of quartz diorite at surface, coupled with the presence of anomalous copper and precious metal abundances in grab samples, is consistent with the development of an Offset type environment below the eroded northeastern rim of the Sudbury Basin.
North American Nickel CEO, Keith Morrison, states: "Offsets and footwall deposits account for a significant portion of all the ore mined in the Sudbury Mining Camp and continue to be significant and favourable exploration targets. The style of mineralization associated with this geological environment is prospective for Cu, Ni, Co and precious metals."
The Post Creek property is strategically located approximately 2km northeast of the past producing Podolsky Mine. The Podolsky and North deposits are both hosted within the Whistle Offset, which extends away from the base of the Sudbury Igneous Complex towards North American Nickel's Post Creek Property.
Surface trench mapping indicates the presence of quartz diorite on the Post Creek property which could represent an extension of the Whistle Offset dyke. Surface geological and geochemical information, coupled with surface magnetics and IP are an important driver to evaluating the area below the currently existing shallow drilling in a search for Podolsky style mineralization.
The 2018 program will include up to 1,000m of drilling of two holes to undercut the exposed part of the dyke in search of mineralization associated with the quartz diorite and associated meta-breccia, and to provide a platform for borehole electromagnetic survey work.
All material contracts and personnel are now in place and the project mobilization has commenced. North American Nickel expects to have the drill turning by November 16th. Work contracts have been awarded to Forage M3 Drilling Services Inc. of Hawkesbury, Ontario and Crone Geophysics and Exploration Ltd., of Mississauga, Ontario.
In respect and consideration of the Wanapitei First Nation, a dialogue continues regarding consultation on the program of work.
"Technical Information; Qualified Person"
The Company is not aware of any legal, political, environmental or other risks that could materially affect the potential development of the project other than those set out in its annual information form filed on www.sedar.com. Please see below under the heading "Cautionary Note Regarding Forward-looking Statements" for further details regarding risks facing the Company.
All technical information in this release has been reviewed and approved by Peter C. Lightfoot, Ph.D., P.Geo. (Consulting Chief Geologist), who is the Qualified Persons for the Company.
About North American Nickel
North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Sudbury, Ontario.
The Maniitsoq property in Greenland is a Camp scale permitted exploration project comprising 2,985 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.
Cautionary Note Regarding Forward-looking Statements
This press release contains certain "forward-looking statements" and "forward-looking information" under applicable securities laws concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the success of exploration activities; impact of mineralogy, estimation of mineral resources at mineral projects of the Company; the future economics of minerals including nickel and copper; synergies and financial impact facilities; the benefits of the development potential of the properties of the Company and currency exchange rate fluctuations. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in metal grades, changes in market conditions, variations in recovery rates, risks relating to international operations, fluctuating metal prices and currency exchange rates, and other risks of the mining industry, including but not limited to the failure of plant, equipment or processes to operate as anticipated. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed.
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. For further information on the project, please see National Instrument 43-101 (NI 43-101) technical report prepared by SRK Consulting (Canada) Inc. (SRK) dated effective March 17th, 2017, titled "Updated Independent Technical Report for the Maniitsoq Nickel-Copper-Cobalt-PGM Project, Greenland", available under the Company's profile at www.sedar.com or at www.northamericannickel.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Fedikow
President
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 Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1: Post Creek Project Location Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2081/41099_f0c90ffc44d9aaed_002full.jpg
