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 PresidentNorth American Nickel
Inc.
For more information contact:
North American Nickel Inc.Jaclyn
RuptashCorporate Communications (604) 770-4334Toll 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
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