Maniitsoq Exploration Program Update Significant Sulphide Mineralization Intersected
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2018) - North American Nickel Inc. (TSXV: NAN) (OTCQB: WSCRF) (CUSIP: 65704T 108) (the "Company") is pleased to provide an update on the 2018 exploration program and advise that it has intersected significant sulphide mineralization in a newly discovered target at the Company's 100% owned Maniitsoq nickel-copper-cobalt-PGM project in Southwest Greenland.
The Company has identified a small but important intrusion comprising melanorite at the P-008 target situated south of Fossilik. Two holes (MQ-18-162, MQ-18-163) were drilled to test the surface EM target and both intersected significant sulphide mineralization. A third hole, MQ-18-167, followed-up on holes MQ-18-162 and MQ-18-163 and indicate that the zone is more extensive at depth and extends into the footwall at the north wall of the intrusion. A BHEM survey has identified further targets at depth that will be tested with drill holes this season. Assays are pending on core from completed boreholes at P-008.
Field crews commenced surface work on June 3rd and two diamond rigs drilling NQ size core commenced on June 15th, with a third diamond drill added on June 28th drilling BTW sized core. To date 18 holes and 3 ongoing holes totaling 8,100 meters of the initial program have been completed including 12 borehole electromagnetic surveys (BHEM). The drill season is 76% completed. The Company will achieve the initial targeted meters and intends to surpass that goal for an approximate program completion date of August 30th.
The primary objective for the 2018 exploration program is the effective execution of work designed to identify a large Ni-Cu-Co-PGE sulphide mineral system in association with some of the most heavily mineralized and differentiated intrusions. Within these intrusions, the pyroxene-rich melanorites representing the principal target rock type that is known to contain high grade and nickel tenor mineralization. Deep-penetrating high-power EM combined with an understanding of the geological configuration of the intrusions is being used to focus exploration activities.
North American Nickel Chief Geologist, Peter Lightfoot, states: "The objective of the 2018 program of work is to locate a mineralized melanorite envelope that surrounds higher grade shoots of massive and breccia-style sulphide mineralization. Attention has focussed on the IHC (Spotty Hill and G-025), Fossilik (east of P-058), and P-008 where the geological and geophysical data help to target holes in areas with known disseminated and breccia-style sulphide mineralization associated with some of the most primitive (Mg-rich) parts of the intrusions."
The drill hole location map (Figure 1) shows the location of boreholes in the IHCC, Fossilik, and P-008 intrusions. Drills are currently testing down-plunge of mineralization at P-008, the west side of the Fossilik Intrusion where a potential keel-like structure may be developed, and a mineralized melanorite intrusive body at G-025 in the IHC.
Currently 1,519 core samples and surface grab samples have been sent for geochemical analysis and results are pending. Preparatory work is being completed by Geolabs Greenland in Nuuk with further laboratory analysis completed at MS Analytical in Langley, B.C. Canada. An additional 364 surface grab samples from the noritic intrusions are being processed by Geolabs Greenland, and the pulps will be analysed by portable XRF in order to better understand the distribution of rock types in the IHC and Fossilik intrusions. Receipt of first assay results are expected in early August and will be reported as received.
"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. (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 24th, 2016, titled "Independent Technical Report for the Maniitsoq Nickel-Copper-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.
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