VANCOUVER, British Columbia, May 09, 2018 (GLOBE NEWSWIRE) -- North American Nickel Inc. (TSX VENTURE:NAN) (OTCBB:WSCRF) (CUSIP:65704T 108) (the “Company”) provides details of its 2018 exploration and drill program at its 100% owned Maniitsoq nickel-copper-cobalt-PGM project in Southwest Greenland.
The 2018 work program will focus on the advancement of the Maniitsoq project via:
- Surface electromagnetic surveys targeting “keel” sulphide entrapment structures;
- A targeted 12,500 metres of diamond drilling, including borehole electromagnetic (BHEM) surveys;
- Mapping, prospecting, sampling, structural geological studies and 3D modeling.
The program is focussed on targeting the melanorite portions of prioritized intrusions at Fossilik, P-030-P-032, P-053, and in the footprint of the Imiak Hill Complex which we believe have the best potential to host economic accumulations of nickel, copper and cobalt sulphides. A location map (Figure 1) may be viewed using the link provided at the end of the release.
North American Nickel CEO, Keith Morrison, states: “NAN’s positioning with a potential camp-size nickel project and one of the globe’s largest Li-Ion battery manufactures (Contemporary Amperex Technology Co Ltd.) as a strategic partner, sets us apart from other nickel-sulphide explorers. Our 2018 program at Maniitsoq will include up to 12,500m of drilling at NiS targets that integrate the results from our previous years of work with the new and important understanding of the geochemical control of our mineralization. This new NiS targeting concept was developed by our Chief Geologist, Dr. Peter Lightfoot, and is based on his work on analogous deposits around the world and his analysis of NAN’s extensive whole rock geochemical database at Maniitsoq.”
Detailed geochemical studies of surface and drill core samples indicate that pyroxene-rich melanorites and melagabbros are the principal host rocks of the disseminated sulphide mineralization as well as the matrix and inclusions within the remobilized breccia style and semi-massive sulphides. The conductive remobilized sulphides have high nickel grades and tenors which make them a priority exploration target. The pyroxene–rich rocks are a primary part of the differentiated intrusions at Fossilik, P-030-P-032, P‑053, and numerous large unexplored bodies in the footprint of the Imiak Hill Complex.
The field program is designed to map the pyroxene-rich variants of the noritic intrusions and improve our understanding the contacts and structural offsets in support of the surface EM program. Geological work will include a more advanced interpretation of Worldview 3 satellite data using a “training” database of surface whole rock geochemical data to optimize drill hole targeting and develop new drilling targets within prospective noritic stratigraphy.
All material contracts and personnel are now in place with our first choice of suppliers, many of whom have direct previous experience with the project. The project mobilization has started and we expect to have drills turning by mid-June. Our 2018 suppliers include Forage M3 Drilling Services Inc. of Hawkesbury, Ontario, and Crone Geophysics and Exploration Ltd., of Mississauga, Ontario. Logistical support contracts have been awarded to Xploration Services Greenland A/S and Air Greenland A/S, both of Nuuk, Greenland.
”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. 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. (Chief Geologist), who is the Qualified Person 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.
A PDF accompanying this announcement is available at:
http://resource.globenewswire.com/Resource/Download/04b869fc-f64c-4f19-8fb5-27d161099e2d
Source: North American Nickel Inc.
