Vancouver, British Columbia--(Newsfile Corp. - September 9, 2020) - North American Nickel Inc. (TSXV: NAN) (OTCBB: WSCRF) (CUSIP: 65704T4054) (the "Company" or "NAN") announces results from its 2020 exploration programs on its 100% owned Quetico properties located in the Atikokan-Thunder Bay area, Ontario and on its 100% owned Post Creek Property located in Sudbury, Ontario.
The Company staked a total of 809 claim cells in the Atikokan-Thunder Bay area following project generation and compilation work in 2018 (see news release dated May 15, 2019). 400 of these cells are within the Quetico Sub-province corridor, which hosts intrusions related to an ~2.7Ga late-Archean magmatic event and mineralized with Ni-Cu-Co-precious metal sulphides. 409 claim cells in two distinct blocks were acquired to follow-up on prospective magnetic and geochemical anomalies potentially related to intrusions of the ~1.1Ga mid-continent rift event. Three clusters of claims cells, labeled Quetico South, East and West were acquired in 2018 to encompass magnetic and geochemical anomalies possibly associated with differentiated mafic intrusions localized along splays of the Quetico fault zone (Figure 1).
In June, a program of prospecting was undertaken on the Quetico West and East blocks to search for mineralization related to early mid-continent rift peridotite intrusions and Archean pyroxenites. Targets comprising, magnetic responses, prospective geology and geochemical anomalies, were examined on all three clusters of claim cells.
Exploration was focussed on the East block where previous work identified mafic rocks with geochemical signatures similar to those that host the Current Lake deposit, located 10 km to the east (Figure 2). The Current Lake deposit has an Open Pit Indicated Mineral Resource of 8.46 Mt grading 1.04 g/t Pt, 0.98 g/t Pd, 0.25% Cu and 0.18% Ni (2011 NI 43-101 Technical Report, Magma Metals Limited).
Sampling in the East block adjacent to Clean Air Metals' Current Lake Property identified outcropping peridotite and gabbroic rocks with trace sulphide. The geochemical signature of the peridotite is similar to the differentiated Current Lake intrusion based on a comparison with historic assessment report data. There is no known electromagnetic (EM) survey coverage in the area and accordingly the next phase of exploration will include airborne or surface EM survey work. These surveys will be designed to detect conductive responses of potential nickel sulphide mineralization associated with the ultramafic intrusions.
On the West block, a total of eight magnetic anomalies were investigated. Six anomalies remain unexplained and weakly mineralized magnetic pyroxenite was identified at two locations (Figure 3). A weakly mineralized pyroxenite sample associated with a strong tadpole-shaped magnetic anomaly has an elevated Au+Pt+Pd content of 5.28 g/t in 100% sulphide. The configuration of the magnetic anomaly suggests the potential for a 3 km2 ultramafic intrusion and a related feeder-dyke on the west. These intrusions may be separated from a larger intrusion to the east by a keel structure which is a classic target for magmatic sulphide exploration. Future exploration will focus on this intrusion and others that were not prospected in 2020.
On the South block, a strong magnetic target was explained by massive magnetite.
Post Creek Property
The Post Creek property in the Sudbury area is strategically located adjacent to the past producing Podolsky copper-nickel-precious metal sulphide deposit of KGHM International Ltd. (Figure 4). 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.
Earlier this year, NAN advanced its understanding of the Post Creek Property through outcrop sampling and data compilation. Compilation work identified Cu-Au mineralization along strike of the NNE trend of the Whistle Offset quartz diorite. This mineralization is encapsulated by a large area of Sudbury Breccia that extends from the contact deposit at Whistle Mine, through the Podolsky and North Zone mineralization and onto the Post Creek property. The trend has not been significantly offset by structure and the possibility exists that an Archean structural zone hosting a concentric belt of breccia and possibly quartz diorite is present in this location and as such is an additional exploration target.
The rocks to the north of the property comprise Sudbury Breccia with Cu-Au mineralization but with a historic sample assay of 0.83% Ni, 0.74% Cu, 0.07% Co and 3.5g/t Au+Pt+Pd.
Samples from the Cu-Au showing are summarised in Table 1.
|SAMPLE||UTM_X||UTM_Y||Cu (%)||Au (ppm)|
Note: Coordinates are reported in UTM Projection NAD83 Zone 17 North
Work to the immediate north and west of the drilling completed on the CJ Offset identified quartz diorite boulders and an outcrop of grey gabbro with 0.17% Ni, 0.55% Cu, and 0.26g/t Au+Pt+Pd.
Additional work is required on the Post Creek property and will focus on results to date with the intent of extending exploration onto the Halcyon property to the north.
NAN CEO, Keith Morrison, commented: "NAN is focused on advancing a portfolio of highly prospective nickel copper cobalt projects that should support development investment assuming conservative long-term commodity prices. These 2020 work programs have improved our understanding of the mineralization and the nature of the geology on the Quetico and Post Creek properties. These results will assist us in determining the next steps and future exploration programs at each project."
Engagement and ongoing dialogue with local First Nation communities regarding future exploration programs will continue.
Samples submitted for analyses were generally 0.75 to 1.5 kg. A small representative sample was retained for reference purposes. Sample preparation was completed at the ALS Global preparation lab in Sudbury, Ontario. Sample pulps were sent by air courier to the ALS Global laboratory in Vancouver, BC, Canada. Blank samples and commercially prepared and certified Ni sulphide analytical control standards with a range of grades were inserted in every batch of 20 samples or a minimum of one per sample batch. Analyses for Ni, Cu and Co were completed using a sodium peroxide fusion preparation and ICP-AES finish (ME-ICP81). Analyses for Pt, Pd, and Au are by fire assay (30 grams nominal sample weight) with an ICP-AES finish (PGM-ICP23). Samples sent for whole rock analyses were analyzed using a lithium borate fusion, acid digestion and ICP-AES finish (ME-ICP06), lithium borate fusion and ICP-MS analysis (ME-MS81), base metals by 4 acid digestion with an ICP-AES finish (ME-4ACD81) and total sulphur by Leco furnace (S-IR08).
"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 Statement Regarding Forward-Looking Information" 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 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 Ontario, Canada. In 2019 the Company became a founding shareholder in Premium Nickel Resources ("PNR") a private Canadian company, to provide direct exposure to Ni-Cu-Co opportunities in the southern African region. PNR has submitted an Indicative Offer to acquire the assets, currently in liquidation, formerly operated by Bamangwato Concessions Limited ("BCL") in Botswana. In addition, the Company is expanding its area of exploration interest into Morocco and building a relationship with the Office National des Hydrocarbures et des Mines ("ONHYM"), the leading resource crown corporation and the single largest permit holder in Morocco.
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 and is 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-precious metal sulphide 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 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 is part of the Company's strategy to develop a pipeline of new nickel projects. The Company is evaluating direct and indirect nickel asset acquisition opportunities globally.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
North American Nickel Inc.
For more information contact:
North American Nickel Inc.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities legislation concerning the business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information includes, but is not limited to, statements about the ability of the Company to access capital to satisfy the fees and expenditures under the earn-in agreement, the ability of the Company to complete the expenditures under the earn-in agreement, spending commitments, the success of exploration activities, the future economics of minerals including nickel and copper, the benefits of the development potential of the properties of the Company, the benefits of drilling and advancement of projects, engagement and dialogue with First Nations groups and formalizing the scope of work. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors, which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's disclosure documents available at www.sedar.com. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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.
Figure 1: Quetico Property Location Map
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Figure 2: Quetico East Block Proximity to Current Lake Deposit
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Figure 3: Quetico West Block Location of 2020 Exploration Targets
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Figure 4: Post Creek Location Map
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