Nickel North Exploration Corp.: Assay Results from Hawk Ridge Validate Historical Records
16 1월 2013 - 10:30PM
Marketwired Canada
Nickel North Exploration Corp. (TSX VENTURE:NNX) ("Nickel North" or "the
Company") is pleased to release the results of the final phase of its 2012
exploration program on the Company's 100% controlled Hawk Ridge Ni-Cu-PGE
Project in northern Quebec. These results are based on the re- sampling and
detailed analysis of 988 samples from 9 holes totalling 956 meters of historic
drill core that was stored at Hawk Ridge in 1996-97 by the previous operator.
The drill holes sampled include the following four zones Hopes Advance Main,
Hopes Advance, North Gamma and the Schindler zone.
Core samples were subject to rigorous internal and external processing controls,
as well as industry standard QA and QC protocols and are discussed below in
further detail. Review of relevant correlative and quantitative factors clearly
indicated sufficiently low levels of variance between the 1996-97 assay results
and the new corresponding 2012 results, thereby validating the reliability of
the historical records.
The new assays also recorded significant values of platinum group elements and
gold (PGE+Au) in all 9 holes, which were not previously tested for.
Additionally, modern sampling protocols and multi- element analysis has led to
the detection of additional nickel and copper mineralization not previously
recognized and has in some cases expanded the mineralized intersections by up to
10 metres (DH 96-55 returning 0.43 % Cu and 0.18% Ni over 74 meters).
Table 1
2012 Re-assay Composites of 1996 and 1997 Core
----------------------------------------------------------------------------
Width Cu Ni Co PGE + Au Sulph
DDH Interval From To m % % % (i) % (ii)
----------------------------------------------------------------------------
Hopes Advance Main
----------------------------------------------------------------------------
96-9 Interval 30 36 6 0.66 0.16 0.01 520.58 1.03
----------------------------------------------------------------------------
Interval 49 98 49 0.49 0.17 0.01 257.94 2.95
----------------------------------------------------------------------------
----------------------------------------------------------------------------
96-10 Interval 66 95.39 29.39 0.43 0.19 0.01 262.00 3.04
----------------------------------------------------------------------------
Interval 101.12 111.57 10.45 0.66 0.14 0.01 419.44 2.60
----------------------------------------------------------------------------
Hopes Advance North
----------------------------------------------------------------------------
96-44 Interval 40.04 54.45 14.41 1.50 0.49 0.01 338.71 14.70
----------------------------------------------------------------------------
Including 43 52.5 9.5 1.96 0.50 0.01 244.98 13.47
----------------------------------------------------------------------------
----------------------------------------------------------------------------
96-45 Interval 48.14 63.5 15.36 0.63 0.44 0.01 285.12 11.73
----------------------------------------------------------------------------
Including 50.6 54.45 3.85 1.38 0.71 0.01 658.83 22.36
----------------------------------------------------------------------------
Gamma
----------------------------------------------------------------------------
96-53 Interval 34.5 57.45 22.95 0.45 0.17 0.01 291.41 2.23
----------------------------------------------------------------------------
----------------------------------------------------------------------------
96-55 Interval 86.5 160.55 74.05 0.43 0.18 0.01 371.60 2.29
----------------------------------------------------------------------------
Including 119.5 151.5 32 0.54 0.21 0.01 350.19 3.11
----------------------------------------------------------------------------
Interval 223.03 230.44 7.41 0.48 0.10 0.01 20.00 3.68
----------------------------------------------------------------------------
----------------------------------------------------------------------------
96-60 Interval 101 145.5 44.5 0.36 0.18 0.01 338.81 1.56
----------------------------------------------------------------------------
Interval 157 179.8 22.8 0.55 0.16 0.01 258.82 1.60
----------------------------------------------------------------------------
Schindler
----------------------------------------------------------------------------
97-101 Interval 123 138 15 0.51 0.21 0.01 221.96 3.09
----------------------------------------------------------------------------
----------------------------------------------------------------------------
97-102 Interval 122 132.5 10.5 0.33 0.15 0.01 204.72 2.36
----------------------------------------------------------------------------
(i) Note PGE + Au is in ppb (parts per billion).
(ii) Sulphide% of the sample is calculated from the sulphur assay using the
formula S%/37.5 X 100.
Table 2
2012 PGE + Au Re-assay Composites of 1996 and 1997 Core
----------------------------------------------------------------------------
Width Pd Pt Au Sulph
DDH Interval From To m ppb ppb ppb PGE + Au %
----------------------------------------------------------------------------
Hopes Advance Main
----------------------------------------------------------------------------
96-9 Interval 30 36 6 252.67 70.58 197.33 520.58 1.03
----------------------------------------------------------------------------
Interval 49 98 49 175.04 46.62 36.28 257.94 2.95
----------------------------------------------------------------------------
----------------------------------------------------------------------------
96-10 Interval 66 95.39 29.39 210.18 31.76 20.06 262.00 3.04
----------------------------------------------------------------------------
Interval 101.12 111.57 10.45 265.69 94.48 59.27 419.44 2.60
----------------------------------------------------------------------------
Hopes Advance North
----------------------------------------------------------------------------
96-44 Interval 40.04 54.45 14.41 262.30 11.33 65.08 338.71 14.70
----------------------------------------------------------------------------
Including 43 52.5 9.5 162.61 9.05 73.32 244.98 13.47
----------------------------------------------------------------------------
----------------------------------------------------------------------------
96-45 Interval 48.14 63.5 15.36 250.75 9.83 24.54 285.12 11.73
----------------------------------------------------------------------------
Including 50.6 54.45 3.85 568.70 12.73 77.40 658.83 22.36
----------------------------------------------------------------------------
Gamma
----------------------------------------------------------------------------
96-53 Interval 34.5 57.45 22.95 198.08 56.48 36.85 291.41 2.23
----------------------------------------------------------------------------
----------------------------------------------------------------------------
96-55 Interval 86.5 160.55 74.05 266.72 54.69 50.19 371.60 2.29
----------------------------------------------------------------------------
Including 119.5 151.5 32 261.02 50.66 38.51 350.19 3.11
----------------------------------------------------------------------------
Interval 223.03 230.44 7.41 5.00 10.00 5.00 20.00 3.68
----------------------------------------------------------------------------
----------------------------------------------------------------------------
96-60 Interval 101 145.5 44.5 256.66 50.64 31.51 338.81 1.56
----------------------------------------------------------------------------
Interval 157 179.8 22.8 173.82 44.17 40.83 258.82 1.60
----------------------------------------------------------------------------
Schindler
----------------------------------------------------------------------------
97-101 Interval 123 138 15 148.70 42.73 30.53 221.96 3.09
----------------------------------------------------------------------------
----------------------------------------------------------------------------
97-102 Interval 122 132.5 10.5 139.22 39.48 26.02 204.72 2.36
----------------------------------------------------------------------------
Validation of Historical Results
Detailed comparisons clearly demonstrated that when sampling density and
intervals of the 1996, 1997 results are similar to those from the 2012 results,
they returned average differences ranging from 0.28% to 2.83% for Ni (higher
than the historical results) and 5.11% to 5.9% for Cu (lower than the historical
results). These percentage (%) differences for Ni and Cu between the 1996-97
assays and their re- assayed in 2012 counterparts fall well within acceptable
limits and validate the results of previous exploration programs on the Hawk
Ridge Project. As a result the Company believes it will be able to incorporate
much of the 1995-1997 drill data, (representing several million dollars) into a
new resource calculation for Hawk Ridge, which will result in significant time
and financial savings for the Company.
Successful Program
The resampling program was successful in meeting its primary objectives in that
it confirmed the validity of the historical assays; identified new zones of
elevated PGE+Au where no prior analysis was performed; and expanded existing Ni
and Cu zones where previous sampling was incomplete. The results have provided
further insights as to the genesis and controls of the mineralization at Hawk
Ridge. Multi-element analysis has given us a much better idea of the
distribution and potential Ni, Cu, Co, Au, Pt and Pd mineralization.
2013 Drill Program
To date, two new styles of mineralization at Hawk Ridge have been recognized
based on detailed geochemical protocols, along with core analysis and field
observations. In addition to expanding the large tonnage intermediate grade
potential of the property the Company will target high-grade strata- bound
Thompson-like nickel-copper mineralization beneath the floor of the intrusions.
The high-grade telescoping Cu-Ni sulphide bodies at the extremities of the
disseminated intermediate-grade large tonnage horizons will also be a priority
target. These historic assay data further support our belief that Hawk Ridge has
features in common with the prolific Thompson district of Manitoba. The Company
intends to start the 2013 drilling program in May and continue throughout the
summer exploration season.
Assay Results
The assay results summarized in Tables 1 and 2 below were analyzed by TSL
Laboratories, Saskatoon. The drill core from the 1995-1997 campaign was found to
be in good conditions and well-marked, however some intervals were missing and
therefore it was not possible to resample some mineralized sections in their
entirety. The analyses represent the concentrations determined on the remaining
half of the 1996-97 historical BQ sized diamond drill core that was sampled in
its entirety. The 2012 re-assaying program utilized a 41 element ICP-MS
analytical package after a strong 4-acid digestion that dissolves most of the
minerals. Over range (greater than 10,000 ppm) samples for copper and nickel
were analyzed by Atomic Absorption Spectrometry following an HNO3-HF-HClO4-HCl
digestion. Platinum, palladium and gold analyses were conducted on 30g samples
utilizing a Pb-fire assay followed by ICP-ES analyses. All analysis for the
field programs performed in 1995-1997 was carried out by Chimitec Ltee, of Val
d'Or, a laboratory that is now part of ALS Chemex. Sample preparation procedures
are described in the laboratory reports. Copper, nickel and cobalt analyses were
performed by atomic absorption after dissolution in hydrochloric and nitric acid
in a ratio of 3:1. The detection limit for copper and cobalt is 1 ppm, and for
nickel it is 2 ppm. Analyses for gold were carried out by fire assay with a
detection limit of 5 ppb. Further details of the original 1995-1997 drill
results are available in the 43-101 report by D. A. Beauchamp, April 30, 2012
available on Sedar.
The QA-QC protocol employed CANMET standard WPR1 for monitoring Ni, Cu, Co, Pt,
Pd, Au and S concentrations in the samples. Blanks and duplicates were also
utilized. All standards, blanks and duplicates fall within acceptable QA-QC
tolerances.
About The Hawk Ridge Ni-Cu-PGE Project
The Hawk Ridge Ni-Cu-PGE Project (controlled 100% by Nickel North Exploration
Corp) is situated in an established mining district within the Labrador Trough
in northern Quebec (rated #1 mining jurisdiction in Canada and recently rated #5
in the world by the Fraser Institute). The project is ideally located on
tidewater on the west coast of Ungava Bay. The mineral claims cover 18,700
hectares of a highly anomalous 50 km belt of mafic to ultramafic intrusive,
volcanic and sedimentary rocks hosting widespread magmatic copper-nickel
sulphide mineralization. The project area lies within the prolific Circum
Superior Belt, which also hosts the world-class (producing) Raglan and Thompson
mining districts. The property has an extensive exploration history dating back
to 1961 (24,000 m drilling in 361 holes, approximately $20 million in
expenditures) by several operators including Esso, SOGEM, Phelps Dodge and
Falconbridge.
Other entities and projects active in the area include Goldcorp's Eleonore Mine
which is presently under construction, as well as Oceanic Iron Ore Corp.'s iron
deposit, currently under development - along with proposed road and port
facilities being considered under the Quebec government's $80 billion "Northern
Mineral Development Initiative" supporting mining infrastructure in the
province. Additionally, the Quebec government refunds (2012) 51% of all
exploration and development expenditures in the northern portion of the
Province.
About Nickel North Exploration Corp.
Nickel North Exploration Corp. is a Canadian based exploration company whose
shares trade on the TSX Venture Exchange under the symbol NNX. The board of
directors, advisory committee and management team feature highly experienced
mining professionals and technical experts with an extensive history of mineral
discovery and mine development; corporate finance and capital markets; as well
as corporate mergers, acquisitions and take-overs. Nickel North Exploration
Corp. is a conscientious corporate citizen, maintains good relations with First
Nations, and is committed to sustainable development. The Company's corporate
mission is to become a pre-eminent supplier of nickel, copper and platinum group
elements for domestic and global export markets.
For more information, please visit www.nickelnorth.com
ON BEHALF OF NICKEL NORTH EXPLORATION CORP.
Phillip Mudry, P.Geol., President and Chief Executive Officer
The technical information in this news release has been reviewed by Phillip
Mudry, P.Geol, Nickel North's President and CEO, and a qualified person as
defined by National Instrument 43-101. The Hawk Ridge NI 43-101 technical report
has been filed on SEDAR and is available on the company's website.
Disclaimer for Forward-Looking Statements
All statements, other than statements of historical fact, included herein are
forward-looking statements that are subject to risks and uncertainties.
Forward-looking statements are often, but not always, identified by the use of
words or phrases such as "validate", "clearly indicate", "clearly demonstrate",
"intends", "expanded", "insights", "likely" and "intends" and statements that an
event or result "may", "will", "should", "could" or "might" occur or be achieved
and other similar expressions. Forward-looking statements in this news release
include statements results have provided further insights as to the genesis and
controls of the mineralization at Hawk Ridge, and high-grade telescoping Cu-Ni
sulphide bodies at the extremities of the disseminated intermediate grade large
tonnage horizons will also be a priority target; historic assay data further
support our belief that Hawk Ridge has features in common with the prolific
Thompson district of Manitoba; Company intends to start the 2013 drilling
program in May and continue throughout the summer exploration season. Forward
looking statements are subject to business and economic risks and uncertainties
and other factors that could cause actual results of operations to differ
materially from those contained in the forward-looking statements. Important
factors that could cause actual results to differ materially from the Company's
expectations include fluctuations in commodity prices and currency exchange
rates; uncertainties relating to interpretation of drill results and the
geology, continuity and grade of mineral deposits; the need for cooperation of
government agencies and native groups in the exploration and development of
properties and the issuance of required permits; the need to obtain additional
financing to develop properties and uncertainty as to the availability and terms
of future financing; the possibility of delay in exploration or development
programs and uncertainty of meeting anticipated program milestones; and
uncertainty as to timely availability of permits and other governmental
approvals. Forward-looking statements are based on estimates and opinions of
management at the date the statements are made. The Company does not undertake
any obligation to update forward-looking statements except as required by
applicable securities laws. Investors should not place undue reliance on
forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Nickel North Exploration Corp.
Corporate Communications
604-609-6182
604-689-0628 (FAX)
info@nickelnorth.com
www.nickelnorth.com
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