News

VANCOUVER, British Columbia, Nov. 23, 2017 (GLOBE NEWSWIRE) -- North American Nickel Inc. (TSX VENTURE:NAN) (OTCBB:WSCRF) (CUSIP:65704T 108) (the "Company") is pleased to report that assays have been received from drill holes completed to test the P-058 sulphide zone at the Fossilik area on the Company’s 100% owned Maniitsoq nickel-copper-cobalt-PGM sulphide project in southwest Greenland. Hole MQ-17-146 intersected the extension of the P-058 zone comprised of high grade massive nickel sulphide veins.

Highlights include:

• MQ-17-146:
      
  • 10.70m @ 2.53% Ni, 1.26% Cu, 0.07% Co and 0.11 g/t Pt+Pd+Au including
     
    • 3.50m @ 4.97% Ni, 2.30% Cu, 0.13% Co and 0.20 g/t Pt+Pd+Au and
       
    • 2.20m @ 3.35% Ni, 1.31% Cu, 0.10% Co and 0.16 g/t Pt+Pd+Au
       
• Mineralization is characterized by high nickel tenors and elevated copper and cobalt values.
   
• Drilling and borehole electromagnetic (BHEM) surveys have extended the P-058 mineralized system from surface to a vertical depth of 650 metres where it remains open down-dip and down plunge.
   
• An increased volume of norite has been intersected at depth and represents a possible source of the remobilized sulphides.

NAN CEO, Keith Morrison, commented: “This exceptional result is consistent with the Company’s 2016 drilling assays at P-058 (see News Release dated October 12, 2016). Drilling and borehole EM data now indicate that this well mineralized zone extends to a vertical depth of 650 metres. Fossilik is the largest known mineralized norite intrusion within the Greenland Norite Belt. These results, combined with previous drilling results at P-004 and P-059 as well as additional nickel sulphide occurrences in the immediate area, demonstrate and prioritize the overall prospectivity of the Fossilik area.”

Six holes totalling 2,621 metres were completed at the P-058 target located in the Fossilik area in the central portion of the Greenland Norite Belt (Figure 1). This release summarizes the results for four holes totalling 2,384 metres that were completed to target depth. Two additional holes were abandoned and did not reach target depth.  Drill collar information and a summary of assays are provided in Tables 1 and 2 respectively. A drill plan map is provided in Figure 2 and an inclined longitudinal section is shown in Figure 3. Figures may be viewed using the link provided at the end of this release.

Further details of the drilling completed at P-058 are given below.

Table 1: Drill Collar Information, P-058

Note: Collar coordinates in UTM WGS84 Zone 22N

Abandoned Holes:          * Hole lost in casing at 7.5m       ** Hole terminated at 229.8m

Table 2: Assay Results, P-058

Note: Intervals represent core lengths, not necessarily true widths.
NSA – No Significant Assays

The P-058 sulphide zone is located near the southwest end of the large Fossilik intrusion within a northeast striking and steeply northwest dipping structural panel consisting of mineralized norite, orthogneiss and parallel to sub-parallel mylonite zones. The mineralization consists mainly of high grade remobilized semi-massive to massive stringer, vein and breccia sulphides with nickel tenors (percent nickel re-calculated to 100% sulphides) of between 5.5 and 8.0%.

Near surface drilling completed prior to 2016 intersected narrow, near surface remobilized sulphide veins and stringers which were correlated with small, moderate to high conductance BHEM anomalies. In 2016, deeper follow-up drilling intersected wider zones of remobilized sulphides associated with larger moderate to high conductance BHEM anomalies. Main and footwall zones were defined, grading up 3.41% nickel, 0.28% copper and 0.10% cobalt over 10.20 metres (see News Release dated October 12, 2016) and the mineralization was extended to a vertical depth of 350 metres.

The goal of the 2017 drilling was to test for continuity and potential expansion of the P-058 mineralization at depth as a means of vectoring to the ultimate source of the remobilized sulphides. Four of six holes (MQ-17-144, 146, 148 and 152) were completed to target depth and two holes (MQ-17-145 and 151) were abandoned (see Figures 2 and 3).

Hole MQ-17-146 intersected two intervals of remobilized massive sulphide veins hosted in orthogneiss country rocks which returned the following grades:      

• Footwall zone: 2.51% nickel, 0.15% copper and 0.08 cobalt over 1.90 metres from 408.30 to  410.20 metres downhole including:
  • 4.70% nickel, 0.40% copper and 0.18% cobalt over 0.60 metres and
  • 4.73% nickel, 0.07% copper and 0.12% cobalt over 0.40m
• Main zone: 2.53% nickel, 1.26% copper and 0.07% cobalt over 10.70 metres from 451.50 to 462.20 metres downhole including: (see Figure 4)
  • 4.97% nickel, 2.30% copper and 0.13% cobalt over 3.50 metres and
  • 3.35% nickel, 1.31% copper and 0.10% cobalt over 2.20 metres

Holes MQ-17-144, 148 and 152 intersected the expected norite-orthogneiss-mylonite stratigraphy but did not intersect any significant mineralization. All three holes are interpreted to have passed close to the mineralized corridor as indicated by the trend of moderate to high conductance BHEM anomalies detected from borehole surveys of the holes (see Figure 3). The gap in the trend of BHEM responses immediately above the elevation of holes MQ-17-148 and 152 indicates either a gap in the mineralization or an area of poorly conductive sulphides.  

The P-058 mineralization strikes northeast, dips steeply to the northwest and plunges moderately to the NNE. New drilling has extended the main zone to a vertical depth of 435 metres and the main and footwall zones are interpreted to be open down dip and down plunge. The overall footprint of the mineralization is interpreted to extend from surface to a vertical depth of 650 metres based on BHEM results.

The P-058 norite intrusion appears to be either widening or merging with a larger norite body at depth to the NNE in the direction of the Fossilik intrusion. This larger volume of norite represents a potential source for P-058 mineralization. 

Quality Control

The drilling was completed by Cabo Drilling Corp (Canada) utilizing two Atlas Copco S2 diamond drill rigs. Additionally, drilling completed in September included a Helí 1500 Marcotte drill rig sourced from Arctic Core Drilling A/S (Greenland) and manned by a drill crew from Forage-M3 Drilling (Canada). Drill core samples (36.5 mm BQ and 47.6 mm NQ) are cut in half by a diamond saw on site.  Half of the core is retained for reference purposes.  Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation is completed at the GeoLAB Greenland ApS preparation lab in Nuuk, Greenland.  Sample pulps are sent by air to the MS Analytical laboratory in Langley, BC, Canada.  Blank samples and commercially prepared and certified Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one per sample batch.  Analyses for Ni, Cu and Co are completed using a sodium peroxide fusion preparation and ICP-ES finish (PER-700).  Analyses for Pt, Pd, and Au are by fire assay (30 grams nominal sample weight) with an ICP-AES finish (FAS-113).

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 Patricia Tirschmann, P.Geo, who is the Qualified Person for the Company and Vice President Exploration, North American Nickel Inc.

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 project comprising 2,985 square km covering numerous high-grade nickel-copper 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 abundant hydro-electric potential.

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 17^th, 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/21533425-af0b-4bd3-a754-275f15934b23

Source: North American Nickel Inc.