Nickel North Exploration Corp.: Hawk Ridge 2013 Drilling Discovery of a Major Cu-Ni-PGE Zone and Expansion of Historic Zones
12 11월 2013 - 7:00PM
Marketwired Canada
Nickel North Exploration Corp. (TSX VENTURE:NNX) ("Nickel North" or the
"Company") is pleased to announce preliminary assay results from 12 of the 38
drill-holes (totalling 7,330 meters) completed this year on its 100% owned Hawk
Ridge property in northern Quebec.
The 2013 drill program consisted of the following targets: 1. Resource drilling
on a newly discovered zone called Falco 7; 2. Resource drilling on historical
zones; 3. Reconnaissance drilling on new and historical zones. Table 1 presents
the significant assay intervals for the 12 drill-holes received to date. A
complete list of 2013 drill-holes with detailed collar information, drill hole
plan maps and cross-sections, will be updated as the assay results become
available over the next few weeks at http://www.nickelnorthexploration.com/.
Highlights of the 2013 exploration program include:
-- Discovery of the new Falco 7 Zone:
-- Located approximately 2 to 3 kilometres from tidewater and 6.5 to 8
kilometers from the town of Aupaluk. The zone comprises two stacked
intervals; a porphyritic gabbroic interval and an underlying massive
sulphide interval at the basal contact of the gabbro. The zone is
sub-horizontal, near-surface (0 to150 meters from surface) and
returns moderate grades of Cu-Ni-PGE. The target has now been tested
by 21 holes over a 3.5 km strike length and a down-dip extent of at
least 500m. The host rocks and mineralization are similar to that
found at Hopes Advance Main and Gamma Zones.
-- Confirmed continuity of the Hopes Advance Main Zone:
-- Drill-hole HR-2013-16 has established the continuity of the
mineralized zone down-dip for 495 m. This drill-hole intersected
34.8 m (27.7 m approximate true width) of mineralization grading
0.55% Cu, 0.22% Ni and 0.197 g/t Pt+Pd+Au or 1.17% CuEq. From
surface to a down-hole depth of 418.5 m, the mineralization appears
to maintain a consistent host lithology and metal grade.
-- Expansion of the Gamma Zone:
-- Intersections in three drill holes (assays pending) extended this
mineralized zone from surface to 325 m down-dip.
-- Expansion of the Hopes Advance North Zone:
-- Step-out drill-hole 2013-13 intersected an interval of 11.65 m of
mineralization grading 0.62% Cu, 0.22% Ni and 0.32 g/t Pt+Pd+Au or
1.25% CuEq, beginning at a down-hole depth of 29.35 m.
Table 1. Initial 2013 assay results, Hawk Ridge Project.
----------------------------------------------------------------------------
Cu, Ni Values
----------------------------------------------------------------------------
Cu Sulphide
Hole # Zone From To Width Cu% Ni% Eq%(i) %
----------------------------------------------------------------------------
HR-2013-13 HA North 29.35 41 11.65 0.62 0.22 1.25 3.79
----------------------------------------------------------------------------
HR-2013-16 HA Main 418.5 453.35 34.8 0.55 0.22 1.17 3.31
----------------------------------------------------------------------------
HR-2013-19 Falco 7 30.3 38.25 7.95 0.42 0.14 0.82 4.91
----------------------------------------------------------------------------
HR-2013-19 Falco 7 45.65 48.15 2.5 0.5 0.14 0.93 76.16
----------------------------------------------------------------------------
HR-2013-20 Falco 7 119.8 130.15 10.35 0.52 0.14 0.97 3.79
----------------------------------------------------------------------------
HR-2013-20 Falco 7 142.15 146.8 4.65 0.48 0.15 0.86 67.84
----------------------------------------------------------------------------
HR-2013-26 Falco 7 130 149 19 0.38 0.18 0.91 3.79
----------------------------------------------------------------------------
HR-2013-26 Falco 7 incl. 149 9 0.51 0.22 1.16 5.12
140
----------------------------------------------------------------------------
PGE Values
----------------------------------------------------------------------------
Pd Pt Au Pt+Pd+Au Sulphide
Hole # Zone From To Width g/t g/t g/t g/t %
----------------------------------------------------------------------------
HR-2013-13 HA North 29.35 41 11.65 0.22 0.048 0.047 0.31 3.79
----------------------------------------------------------------------------
HR-2013-16 HA Main 418.5 453.35 34.8 0.197 0.049 0.038 0.284 3.31
----------------------------------------------------------------------------
HR-2013-19 Falco 7 30.3 38.25 7.95 0.078 0.028 0.021 0.127 4.91
----------------------------------------------------------------------------
HR-2013-19 Falco 7 45.65 48.15 2.5 0.034 0.015 0.007 0.056 76.16
----------------------------------------------------------------------------
HR-2013-20 Falco 7 119.8 130.15 10.35 0.185 0.048 0.04 0.273 3.79
----------------------------------------------------------------------------
HR-2013-20 Falco 7 142.15 146.8 4.65 0.024 0.011 0.008 0.043 67.84
----------------------------------------------------------------------------
HR-2013-26 Falco 7 130 149 19 0.172 0.049 0.043 0.264 3.79
----------------------------------------------------------------------------
HR-2013-26 Falco 7 incl. 149 9 0.194 0.055 0.064 0.313 5.12
140
----------------------------------------------------------------------------
(i) NiEq calculations are based London Metals Exchange 3 year trailing
average metal prices as of July 6, 2012 (data is consistent with
previous news releases) at US$ 9.48/lb. nickel, US$ 3.56/lb. copper, US$
16.23/lb. cobalt, US$ 1377.87/troy oz. gold, US$ 1587.97/troy oz.
platinum, and US$ 581.28/troy oz. palladium. The equation for NiEq value
is as follows: NiEq = ((Ni grade x Ni price x 22.04622) + (Cu grade x Cu
price x 22.04622) + (Co grade x Co price x 22.04622) + (Au grade x Au
price x 0.02916) + (Pt grade x Pt price x 0.02916) + (Pd grade x Pd
price x 0.02916)) / (Ni price x 22.04622).
(i) CuEq = NiEq $9.48 / $3.56, calculated as those intercepts display
substantial copper grades compared to nickel and PGE.
Twenty-one widely spaced drill-holes (totaling 3,252 m) tested the Falco 7 Zone
in the northern part of the property. Assays for holes HR-2013-19, 20 and 26
have been received and are shown in Table 1. Two mineralized intervals are
hosted by mafic-ultramafic intrusive rocks dipping easterly at 18 degrees to 24
degrees. The terrain is topographically subdued and the area is approximately 2
to 3 km from tidewater; crossed by a network of local roads and trails
accessible from the community of Aupaluk 6.5 to 8 km away.
Mapping, prospecting and logging of the drill-core indicate that the magmatic
stratigraphy and mineralized intervals extend over a known strike-length of 3.5
km, and is still open along-strike and down-dip. The geology and mineralization
of the Falco 7 zone is similar to that found at Hopes Advance Main and Gamma
zones; however, it dips at a much shallower angle. A drill-hole plan and a 3D
representation of Falco 7 are available on the Company website.
Drill-hole HR-2013-19 was completed near the western edge of the Falco 7 zone
where the mineralized zone crops out. The upper disseminated mineralized
interval assayed 0.42% Cu, 0.14% Ni and 0.127 g/t Pt+Pd+Au (0.82% CuEq) over
7.95 m (approximate near true width) beginning at 30.3 m down the hole. This
upper interval consists of coarse-grained gabbro/porphyritic gabbro with
disseminated interstitial pyrrhotite-chalcopyrite (3-5% sulphide). Deeper in the
hole, a 2.5 m thick (approximate true thickness) basal massive sulphide layer
assayed 0.5% Cu, 0.14% Ni and 0.056 g/t Pt+Pd+Au (0.93% CuEq) from 45.65 to
48.15 m.
Drill-Hole HR-2013-20 was collared 274 m to the east of HR-2013-19 to test the
down-dip continuity of mineralization. The upper disseminated mineralized
interval was recorded from 119.8 to 130.15 m (10.35 m width, approximate true
width) the assays returned 0.52% Cu, 0.14% Ni, 0.273 g/t Pt+Pd+Au (0.97% CuEq).
The basal massive sulphide interval was intersected from 142.15 to 146.8 (4.65 m
width, representing 97% near true width) the assays returned 0.48% Cu, 0.15% Ni,
and 0.043 g/t Pt+Pd+Au (0.86% CuEq).
Drill-hole HR-2013-26 was collared 200 m northeast of HR-2013-20 and intersected
the upper disseminated mineralized interval approximately 100 m further
down-dip. The gabbro-hosted interval of disseminated mineralization was
intersected from 130 to 149m (19m approximate true width) below surface with an
average grade of 0.38% Cu, 0.18% Ni and 0.264 g/t Pt+Pd+Au (0.91% CuEq),
including 9 m grading 0.51% Cu, 0.22% Ni and 0.313 g/t Pt+Pd+Au (1.16% CuEq).
The Hopes Advance Main Zone Cu-Ni-PGE mineralized interval is approximately 32
to 48 m wide on surface and has been traced over a strike length of at least 947
m on surface. Drill-hole HR-2013-16 (Table 1) was a step-out intended to test
the continuity of the mineralized interval at greater depths. This mineralized
interval was intersected from 418.5 to 453.35 meters (34.8 m width, 27.7 m
estimated true width) and assayed 0.55% Cu, 0.22% Ni and 0.285 g/t Pt+Pd+Au or
1.17% CuEq. The 2012 drill-hole HR-2012-07 (located 265m west of HR-2013-016)
intersected 0.54% Cu, 0.19% Ni and 0.26 g/t Pt+Pd+Au from 63 to 117.12 m. The
2013 hole confirms that the mineralized interval extends an additional 430 m
down dip from HR-2012-07, and at least 495 m from surface, and that the
mineralized interval maintains a consistent mineralogical character and metal
grade.
The Hopes Advance North Zone is approximately 800 m to the north of the Hopes
Advance Main Zone. Both zones are within similar mineralized gabbroic rocks but
the Hopes Advance North Zone is in a more complex structural setting, separated
from the Main Zone by a NE trending dextral fault. Drill-hole HR-2013-13
intersected 11.65m (from 29.35m to 41 m) of disseminated mineralization which
assayed 0.62% Cu, 0.22% Ni and 0.32 g/t Pt+Pd+Au or 1.25% CuEq. This drill-hole
was targeted by reprocessing a 1997 CRONE PEM geophysical conductor and is
located approximately 55m north of the historical drill-hole 97-112 that
returned a 3.5 m interval of semi-massive sulphide containing 2.45% Cu, 3.39%
Ni, significant PGE concentrations and is overlain by 24 m of mineralized gabbro
grading 0.50% Cu and 0.19% Ni. The mineralized gabbro in HR-2013-13 looks very
similar to the gabbro overlying the semi-massive sulphides in drill-hole 97-112.
Future geophysical surveying and drilling in 2014 may be able to trace the
thicker higher grade mineralized interval seen in 97-112.
Gamma Zone assay results are pending for three holes (HR-2013-30A, 39 and 42)
drilled to test down-dip and the along-strike continuity. The holes intersected
the mineralized interval 320 m, 280 m and 325 m down-dip from surface,
respectively. The mineralized interval is very similar in mineralogical
character and metal content of the Hopes Advance Main zone. On surface the
mineralized interval can be followed for at least 850m along strike. Shallow
drilling in 2012 and previous shallow historical holes defined a mineralized
zone returning grades similar to that seen in HR-2012-01 which returned 0.52%
Cu, 0.22% Ni, 0.39 g/t Pt+Pd+Au over an intersection of 35.6m (apparent width).
Other reconnaissance exploration drill-holes on the property tested several
airborne VTEM survey conductors proximal to ultramafic and mafic intrusions in
the Fold, Pio, Horseshoe, Hopes Advance Main-east, and Hopes Advanced East zones
(HR-2013-08, 09, 10, 11, 12, 14, and 15). All of these drill-holes intersected
semi-massive to massive sulphide mineralization in a geological environment
conducive for magmatic Cu-Ni-PGE mineralization; however, preliminary assay
results indicated that the associated sulphides are low in Cu, Ni, Pt, Pd and
Au.
Nickel North Exploration management are very pleased with the results and look
forward to receiving the pending assays for the remaining 26 holes. The 2013
drilling and surface exploration program provided a significant leap in
understanding and appreciation of the potential of the Hawk Ridge property. This
year's program identified a new zone (Falco 7) that is expected to expand the
resources of the property and help identified new intrusive complexes to be
tested in future exploration.
In August the Company initiated a metallurgical study and a 43-101 resource
study, both of which are expected to be completed this year once all the drill
core assays have been received. The Metallurgical Study is to be completed by
XPS Consulting and Testwork Services of Falconbridge, Ontario and the 43-101
Resource Study will be completed by P&E Mining Consultants of Toronto, Ontario.
Quality Assurance and Quality Control
Drill core assay results are monitored and evaluated upon receiving each new
assay certificate. Two certified international standards, two certified
standards, two certified laboratory inserted standards, and two company inserted
blanks, laboratory inserted blanks, company duplicates and laboratory repeats
are monitored in each certificate using industry accepted protocols. The
geochemical protocol for the project in 2012 & 2013 includes sampling the entire
length of the diamond drill-hole (half cut NQ core) for Ni, Cu and Pt, Pd, Au
(fire assay) and a 39-element ICP-MS package following a 4 acid digestion. Core
sample analysis was completed by TSL Laboratories, Saskatoon, Saskatchewan.
Qualified Person
Gabe Fortin, P.Geol., the exploration manager for the project, has reviewed the
contents of this news release and is a Qualified Person as defined by NI 43-101.
About Nickel North Exploration Corp.
Nickel North Exploration is a Canadian based explorer focused on defining a
Ni-Cu-PGE resource at our Hawk Ridge Project in Northern Quebec. The board of
directors, advisor committee and management team are experienced, successful
mine finders. The property consists of a 50 km long belt of magmatic Ni-Cu-PGE
occurrences covering over 29,600 hectares. The project is located near
tidewater. Quebec is a mining friendly jurisdiction. Nickel North Exploration is
a conscientious corporate citizen, maintains good relations with Communities and
Aboriginal people, and is committed to sustainable development. For more
information on the company, please visit www.nickelnorthexploration.com.
ON BEHALF OF NICKEL NORTH EXPLORATION CORP.
Phillip Mudry, P.Geol., President and Chief Executive Officer
Disclaimer for Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. The foregoing information may contain
forward-looking statements relating to the future performance of Nickel North
Exploration Corp. Forward-looking statements, specifically those concerning
future performance, are subject to certain risks and uncertainties, and actual
results may differ materially from those currently anticipated due to a number
of factors beyond the Company's control. These risks and uncertainties include,
among other things, final results from sampling the entire length of the diamond
drill-hole (half cut NQ core) for Ni, Cu and Pt, Pd (fire assay) and 39-element
ICP-MS package following a 4 acid digestion are expected in late November to
mid-December; competition for qualified personnel and risks that are inherent in
the Company's operations including the risks that the Company may not find any
minerals in commercially feasible quantity or raise enough money to fund its
exploration plans. These and other risks and uncertainties are described herein
and from time to time in the Company's public disclosure documents filed on the
SEDAR website maintained by the Canadian Securities Administrators. Except as
required by law, the Company assumes no obligation to update forward-looking
statements should circumstances or management's estimates or opinions change.
Nickel North Exploration does not assume any obligation to update or revise its
forward-looking statements wither as a results of new information, future events
or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Nickel North Exploration Corp.
Phillip Mudry
President and CEO
604.609.6182
604.899.1240 (FAX)
info@nickelnorthexploration.com
www.nickelnorthexploration.com
Nickel North Exploration (TSXV:NNX)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Nickel North Exploration (TSXV:NNX)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
