VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2011) - North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF) (CUSIP: 65704T 108). North American Nickel ("NAN") is pleased to announce the results from its 1,500 metre drill program, recently completed at the Company's Post Creek property located in the footwall of the Sudbury Igneous Complex ("SIC"), near Quadra-FNX's Podolsky nickel-copper-PGM Mine.
This initial drill program was designed to test several ground geophysical InfiniTEM electro-magnetic ("EM") targets associated with the newly recognized CJ Breccia Belt. The Breccia Belt was discovered this past summer and consists of unique quartz diorite-dominated partial melt breccia material related to the formation of the SIC. The Belt footprint is a minimum 700 metres by 800 metres. It has not been fully delineated and remains open in all directions.
North American Nickel's President and Chief Operating Officer Dr. Mark Fedikow states: "The CJ Breccia Belt has the capacity to incorporate multiple styles of mineralization from the pre-existing country rock. As an example, anomalous platinum (0.39 g/t) and palladium (0.40 g/t) over core intervals of 0.5 m have been recognized in assays from low sulphur/sulphide mineralization in the Breccia Belt. While we have not yet discovered ore grade mineralization, we are encouraged by the initial results which have significantly expanded our understanding of the property. We are committed to identifying Sudbury footwall-style mineralization in this unique footwall environment."
North American Nickel's first drill program and associate Borehole Pulse EM (BHPEM) surveys evaluated approximately 25% of the known Breccia Belt to a depth of just 300 m. Our prospecting and geological mapping programs continue to expand the Post Creek Breccia Belt in all directions and these programs will be continued in the spring.
Associated mineralization at surface includes fine disseminated to blebby pyrrhotite and chalcopyrite coincident with the EM targets and a distinct magnetic high feature. The Breccia Belt has been interpreted as the footwall expression of an eroded embayment structure with potential to host nickel-copper-platinum group metal deposits similar to the currently producing Podolsky Mine and to other footwall deposits in the Sudbury Camp.
DRILL RESULTS
Mineralized Intercepts
Drillhole results, including mineralized intercepts from the Post Creek and Halcyon properties, are summarized in Table 1. All drill holes were surveyed by Lamontagne Geophysics using the well tested BHPEM methods which have proved so successful in the Sudbury Camp. The final interpretation and report by Lamontagne is pending.
The results from drill holes PC-14, -15 and -16 indicate the InfiniTEM survey anomalies and modeled plates are attributable to near solid to thin solid sulphide layers consisting of pyrrhotite, pyrite and rare chalcopyrite hosted within mafic volcanic rocks and gabbro. The mineralized lithologies described in Table 1 are present as large blocks within the CJ breccia belt. These sulphide layers are interpreted by Lamontagne as a 40 m long sheet that dips 120 m to the east at 30 degrees.
The strong magnetic anomaly on the property was tested by DDH PC-18 and intersected oxide facies magnetite iron formation.
Drill holes PC-17, -18 and -19 were drilled to provide a broader geological context for the CJ Breccia Belt and as platforms for BHPEM surveys. No anomalous responses were identified by the down-hole surveys in these holes. Partial melt and quartz diorite breccias with zones of 2-3% disseminated pyrrhotite and chalcopyrite, key components of the Breccia Belt, were intersected. This mineralization is thought to represent a low-sulphide environment with potential for PGM mineralization and for use in assessing possible geochemical vectors to mineralization within the CJ breccia belt.
Table 1. Summary of mineralized intercepts from the Post Creek-Halcyon drill
hole program
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Drill UTM UTM Length
Hole East North Dip Azimuth (m) Target Intersection
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PC-14 510550 5183316 -50 270 201 InfiniTEM EM Cherty,
Plate silicified
mafic
volcanic
rocks hosting
near solid
pyrrhotite,
pyrite rare
chalcopyrite
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PC-15 510521 5183244 -50 270 201 InfiniTEM EM Silicified
Plate mafic
volcanic
rocks hosting
thin near
solid
pyrrhotite-
pyrite
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PC-16 510470 5183147 -50 270 150 InfiniTEM EM Cherty,
Plate silicified
mafic
volcanic
rocks hosting
near solid
pyrrhotite,
pyrite rare
chalcopyrite
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PC-17 (H) 510826 5183302 -84 273 301 BHPEM Partial melt
Platform and quartz
diorite
breccia;
disseminated
pyrrhotite
and
chalcopyrite
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PC-18 510451 5183078 -80 266 300 Test Strong Oxide facies
Magnetic iron
Anomaly; formation
BHPEM
Platform
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PC-19 510668 5183107 -80 267 284 BHPEM Partial melt
Platform and quartz
diorite
breccia;
disseminated
pyrrhotite-
chalcopyrite
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PC-20 510324 5182008 -50 92.5 96 Weak Andesitic-
InfiniTEM EM basaltic
Anomaly volcanic
rocks with
disseminated
pyrite
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Assay Results
Drill core from all seven holes was logged, cut with a diamond saw and sampled for assay. All assays were undertaken by AGAT Laboratories, an ISO-certified laboratory. Results are summarized in Table 2 below.
Elevated copper and gold responses are noted from DDH PC-15 and PC-18 in a zone of 2-3% disseminated chalcopyrite and pyrrhotite mineralization. This style of mineralization has been noted from several drill holes and will be the target of additional sampling and analysis in an ongoing program. A Pb-Zn-Ag zone is present within DDH PC-16 within mafic volcanic rocks and is interpreted to represent base metal massive sulphide-type mineralization. Anomalous platinum and palladium results are present in core samples collected from DDH PC-14 and 19. Elevated copper (0.29%) and gold (1.7 g/t) were documented from oxide facies iron formation.
Table 2. Summary of elevated assay results, Post Creek-Halcyon drill hole
program
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Drill Assay
Hole Interval m Cu % Pb % Zn % Ag g/t Au g/t Pt g/t Pd g/t
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PC-14 95.3-95.8 0.39 0.40
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PC-15 39-40 0.37 0.75
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PC-16 103-104 1.60% 0.20 9.9
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PC-18 50.5-51 1.7
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118.15-118.4 0.29
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PC-19 37-37.5 0.176 0.16
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55-55.5 0.2 0.22
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2012 EXPLORATION
The 2011 exploration program consisted of prospecting, geological mapping, InfiniTEM geophysical surveys and 1500 m of diamond drilling and assessed the upper 300 m of approximately 25% of the known extent of the CJ Breccia Belt on the Post Creek and Halcyon properties. Copper-nickel-PGM mineralization hosted within the Breccia Belt occurs at surface in the North Zone and at approximately 500 m below surface in the 2000 Zone within the Podolsky Mine. The depth of the 2000 Zone suggests significant potential for copper-nickel-platinum group metals-gold and silver mineralization is present below the 300 m level of 2011 exploration within the Company's CJ Breccia Belt.
Plans for exploring Post Creek and Halcyon in 2012 include geological mapping, prospecting, geochemical and geophysical surveys including diamond drilling and BHPEM to define the limits of the CJ Breccia Belt and to assess the mineral potential at depths below 300 m.
Quality Assurance/Quality Control and Analytical Methodology
Drill core assay results are evaluated as part of a Quality Assurance and Quality Control procedure that includes the use of multi-element, matrix-matched 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 AGAT Laboratories of Toronto, Ontario, an ISO-Certified laboratory.
Three methods of analysis are used to determine element concentrations in the rock samples submitted to AGAT. These include 1. A multi-element scan subsequent to a four-acid digestion and ICP/ICP-MS finish; 2. Au, Pt and Pd (30 gram sample and fire assay) with ICP-MS finish; and 3. Lanthanides by lithium borate fusion and ICP-MS finish.
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 and Chief Operating Officer, North American Nickel Inc.
About North American Nickel
North American Nickel is a mineral exploration company with 100% owned properties in Sudbury, Ontario, Maniitsoq, Greenland and the Thompson, Manitoba mining camp. The Company's initial focus is on two Sudbury, Ontario properties and its Greenland project.
The Post Creek/Halycon property in Sudbury is strategically located adjacent to the producing Podolsky copper-nickel-platinum group metal deposit of Quadra FNX Mining. 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 Bell Lake property in Sudbury is a 256-acre property that covers approximately one kilometre of the Mystery Offset dyke or MOD. The MOD is interpreted to be an extension of the Worthington Offset dyke which is a 10 to 11 kilometre-long mineralized structure that extends from the southwest margin of the Sudbury Igneous Complex and hosts the new Totten Mine of Vale and the exciting Victoria Deep deposit of Quadra FNX.
North American Nickel also controls a 4,841 square km Mineral Exploration Licence in southwest Greenland with exclusive mineral exploration rights. The principal target is high-grade nickel-copper occurrences associated with norite and other mafic and ultramafic intrusions.
The Company has also acquired 100% ownership in the high-grade Ni-Cu-PGE South Bay property near Thompson, Manitoba and the large grassroots Thompson North and Cedar Lake properties, which are part of the world-class Thompson Nickel Belt in Manitoba.
North American Nickel Inc. is a member of the North Shore Mining Group.
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
North American Nickel Inc.
Rick Mark
CEO and Chair
604-986-2020 or Toll free: 1-866-816-0118
