Nickel North Exploration Corp.: Expanding Near Surface Cu-Ni-Pd-Pt-Au Sulphide Mineralization at Falco 7 and Expansion of Hi...
19 12월 2013 - 10:00PM
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 2013
exploration program on the Company's 100% owned Hawk Ridge Cu-Ni-PGE project in
northern Quebec. The program was very successful in that significant
Cu-Ni-Pd-Pt-Au mineralization (see Table) associated with the mafic-ultramafic
Montagnais Group sills was intersected during drilling in five separate areas
across the property (the Hopes Advance North Zone, Hopes Advance Main Zone,
Falco 7 Zone, Gamma Zone and the Mak I Zone).
In four of these separate magmatic sulphide mineralized zones, mineralization
occurs in two settings associated with the Montagnais Group mafic-ultramafic
sills. Setting 1 mineralization spans the contact between ultramafic units and
the underlying glomeroporphyritic gabbro. Setting 2 mineralization occurs at the
base of the sills along the footwall contact with the sulphidic paraschist. In
the Mak I Zone, mineralization is confined to two pyroxenite units. The Company
is particularly excited about the newly-discovered Falco 7 Zone in the north end
of the property close to Aupaluk, which is comprised of a shallow-dipping
kilometre-scale mafic-ultramafic sill containing layered sulphide-mineralized
intervals which returned some of the highest grade Cu-Ni-Pd-Pt-Au assays from
this year's drilling.
Highlights of the 2013 exploration program include:
Falco 7 Zone
-- The new Falco 7 zone of mineralization has a drilled strike length of
the central portion approximately 1.6 kilometres, however drilling,
mapping and geophysics demonstrate that it is open along strike for at
least several more kilometres.
-- The maximum down-dip extension is approximately 500 metres at a depth of
150 metres from surface.
-- Two of the best composite Cu-Ni-Pd-Pt and Au grades and thickest
intervals of mineralization at the Falco 7 Zone occur around drill-holes
HR-2013-18 grading 0.45% Cu, 0.16% Ni, and 0.24 g/t Pd+Pt+Au or 0.95%
CuEq over 19.5 metres (true width for Falco 7 Zone drill-holes is
approximately 97% of shown), and HR-2013-26 grading 0.35% Cu, 0.17% Ni
and 0.24 g/t Pd+Pt+Au or 0.87% CuEq over 21.00 metres. These two holes
(over 350 meters apart) define a representative section across the width
of the intrusion in the central portion of the Falco 7 Zone. HR-2013-20,
grading 0.47% Cu, 0.14% Ni and 0.27 g/t Pd+Pt+Au or 0.95% CuEq over
13.35 metres is approximately 250 metres along strike south and down-dip
from HR-2013-18. The relatively simple and, therefore, predictable
stratiform nature of the Falco 7 Zone geology and mineralization
facilitated exploration drilling with confidence on approximately 200
metre centres during the 2013 program.
Hopes Advance Main Zone
-- The mineralization at the Hopes Advance Main Zone has a strike of at
least 950 metres and a down-dip extension from surface of 495 metres.
-- HR-2013-16 intersected the down-dip extension of the both settings of
mineralization; however, only setting 1 had significant grades (see
Table). These two mineralized zones can be traced from HR-2013-16, which
intersected 35.85 metres (true width is approximately 72%) grading 0.55%
Cu, 0.22% Ni and 0.29 g/t Pd+Pt+Au or 1.19% CuEq, up-dip to the
intersection of HR-2012-07 which in 2012 returned 54.2 metres (true
width approximately 89%) of 0.54% Cu and 0.19% Ni, and continuing to
surface for a total length of 495 metres.
Gamma Zone
-- Mineralization at the Gamma Zone has a minimum strike length of at least
840 metres.
-- The mineralization has a maximum thickness of 51.25 metres and a down-
dip extension from surface for at least 330 metres.
-- Some of this year's best grades in core came from the two most northern
drill holes: HR-2013-30A grading 0.53% Cu, 0.22% Ni and 0.23 g/t
Pd+Pt+Au or 1.17% CuEq over 28.5 metres (true width is approximately
86%), and HR-2013-39 grading 0.58% Cu, 0.24% Ni and 0.33 g/t Pd+Pt+Au or
1.29% CuEq over 43.75 metres (true width is approximately 70%).
-- In addition, semi-massive sulphide concentrations with greater than 1%
Cu, greater than 1% Ni and greater than 1g/t Pd+Pt+Au were intersected
at the base of the intrusion in HR-2013-30A; as was the case in its up-
dip (330 metres distance) counterparts in HR-2012-01 & 02 from the 2012
drilling program.
-- In HR-2013-39 the base of the 43.75 metres intersection of disseminated
Cu-Ni-Pd-Pt-Au mineralization contains numerous 0.5 metre intervals
returning greater than 1% Cu and greater than 0.5% Ni associated with
near semi-massive concentrations of sulphides. This is the first
discovery of such elevated nickel concentrations at the base of this
mineralized horizon, and suggests that semi-massive to massive sulphides
may be present close by.
It is important to note that the mineralization crops out at surface in all the
zones explored in 2013. It is also important to note that the mafic-ultramafic
sill stratigraphy and associated styles of mineralization at all zones is
virtually identical, except that some are more steeply dipping as a result of
localized structural modifications.
The Falco 7, Hopes Advance Main and Gamma zones are currently being evaluated in
a 43-101 resource report study being conducted by P & E Mining Consultants of
Toronto, Ontario. Publishable resource results are expected to be available in
mid to late January, 2014. Additionally, metallurgical work on the different
type of mineralization settings is being completed by XPS Consulting and
Testwork Services of Falconbridge, Ontario.
NNX CEO, Phillip Mudry, states: "The prolific amount of mineralization that has
been discovered across the property, situated within the Circum Superior Nickel
Belt, which hosts the producing Raglan and Thompson mining districts, and the
strategic location on tidewater puts the Hawk Ridge property into a unique
position. The ongoing discovery of new mineralized zones and the expansion of
the known mineralized zones demonstrate the continued successes of Nickel
North's technical team."
Table: Cu-Ni & summary Pd+Pt+Au Drill-Hole Assays
Pd+
Pt+
Au Sulphide CuEq
HOLE-ID Zone From To Width_m Cu% Ni% g/t % %
----------------------------------------------------------------------------
----------------------------------------------------------------------------
HR-2013-13 HA North 29.35 41.00 11.65 0.61 0.25 0.31 3.8 1.35
----------------------------------------------------------------------------
including HA North 30.00 40.00 10.00 0.68 0.28 0.34 4.2 1.49
----------------------------------------------------------------------------
HR-2013-16 HA Main 417.50 453.35 35.85 0.55 0.22 0.29 5.0 1.19
----------------------------------------------------------------------------
including HA Main 433.40 452.35 18.95 0.77 0.28 0.34 7.7 1.59
----------------------------------------------------------------------------
HR-2013-17 Falco 7 6.00 12.65 6.65 0.26 0.06 0.06 10.2 0.47
----------------------------------------------------------------------------
HR-2013-17 Falco 7 29.35 38.30 8.95 0.38 0.08 0.04 45.0 0.62
----------------------------------------------------------------------------
HR-2013-18 Falco 7 8.20 27.70 19.50 0.45 0.16 0.24 3.9 0.95
----------------------------------------------------------------------------
including Falco 7 22.75 27.70 4.95 0.69 0.19 0.32 5.7 1.30
----------------------------------------------------------------------------
HR-2013-18 Falco 7 37.75 41.40 3.65 0.37 0.09 0.05 53.6 0.65
----------------------------------------------------------------------------
including Falco 7 39.20 41.40 2.20 0.52 0.13 0.06 76.8 0.88
----------------------------------------------------------------------------
HR-2013-19 Falco 7 25.80 38.25 12.45 0.33 0.12 0.13 3.6 0.71
----------------------------------------------------------------------------
including Falco 7 34.30 38.25 3.95 0.62 0.21 0.16 6.6 1.21
----------------------------------------------------------------------------
HR-2013-19 Falco 7 45.65 48.15 2.50 0.50 0.15 0.06 76.2 0.90
----------------------------------------------------------------------------
HR-2013-20 Falco 7 116.80 130.15 13.35 0.47 0.14 0.27 3.5 0.95
----------------------------------------------------------------------------
including Falco 7 127.15 130.15 3.00 0.91 0.19 0.41 6.0 1.55
----------------------------------------------------------------------------
HR-2013-20 Falco 7 138.85 146.80 7.95 0.34 0.10 0.05 43.2 0.64
----------------------------------------------------------------------------
including Falco 7 142.15 145.55 3.40 0.56 0.17 0.05 87.3 1.00
----------------------------------------------------------------------------
HR-2013-21 Falco 7 42.00 47.50 5.50 0.41 0.10 0.17 7.6 0.74
----------------------------------------------------------------------------
HR-2013-22 Falco 7 75.85 78.90 3.05 0.30 0.13 0.22 4.1 0.74
----------------------------------------------------------------------------
HR-2013-23 Falco 7 89.15 92.70 3.55 0.53 0.11 0.32 4.0 0.96
----------------------------------------------------------------------------
including Falco 7 91.10 92.50 1.40 0.87 0.09 0.39 4.8 1.29
----------------------------------------------------------------------------
HR-2013-25 Falco 7 25.60 42.30 16.70 0.33 0.14 0.18 3.7 0.77
----------------------------------------------------------------------------
including Falco 7 36.45 40.40 3.95 0.55 0.20 0.19 6.6 1.13
----------------------------------------------------------------------------
HR-2013-25 Falco 7 53.91 54.53 0.62 0.58 0.19 0.05 26.7 1.08
----------------------------------------------------------------------------
HR-2013-26 Falco 7 130.00 151.00 21.00 0.35 0.17 0.24 3.5 0.87
----------------------------------------------------------------------------
including Falco 7 141.00 149.00 8.00 0.52 0.23 0.33 5.4 1.23
----------------------------------------------------------------------------
HR-2013-27 Falco 7 80.00 100.00 20.00 0.33 0.13 0.19 3.5 0.73
----------------------------------------------------------------------------
including Falco 7 92.00 98.00 6.00 0.55 0.18 0.26 5.3 1.10
----------------------------------------------------------------------------
HR-2013-27 Falco 7 115.58 117.85 2.27 0.32 0.10 0.03 17.2 0.60
----------------------------------------------------------------------------
HR-2013-28 Falco 7 130.75 144.00 13.25 0.30 0.13 0.19 3.3 0.72
----------------------------------------------------------------------------
including Falco 7 137.00 143.00 6.00 0.39 0.17 0.23 4.6 0.90
----------------------------------------------------------------------------
HR-2013-29 Falco 7 43.00 68.50 23.50 0.37 0.16 0.22 5.3 0.86
----------------------------------------------------------------------------
including Falco 7 57.50 63.50 6.00 0.60 0.29 0.32 8.1 1.42
----------------------------------------------------------------------------
HR-2013-29 Falco 7 80.00 81.95 1.95 0.46 0.02 0.03 5.9 0.57
----------------------------------------------------------------------------
HR-2013-31 Falco 7 91.10 95.25 4.15 0.43 0.14 0.08 8.0 0.84
----------------------------------------------------------------------------
HR-2013-33 Falco 7 12.00 22.00 10.00 0.23 0.08 0.10 8.1 0.49
----------------------------------------------------------------------------
HR-2013-33 Falco 7 40.80 41.00 0.20 0.30 0.08 0.05 24.5 0.56
----------------------------------------------------------------------------
HR-2013-34 Falco 7 95.20 113.50 16.10 0.34 0.11 0.10 10.3 0.67
----------------------------------------------------------------------------
including Falco 7 107.20 108.77 1.57 0.85 0.07 0.04 12.5 1.07
----------------------------------------------------------------------------
HR-2013-35 Falco 7 108.50 112.00 3.50 0.31 0.09 0.07 14.8 0.59
----------------------------------------------------------------------------
HR-2013-36 Falco 7 120.00 122.50 2.50 0.24 0.10 0.15 6.9 0.57
----------------------------------------------------------------------------
HR-2013-36 Falco 7 128.42 129.00 0.58 1.01 0.07 0.03 17.2 1.21
----------------------------------------------------------------------------
HR-2013-37 Falco 7 125.50 140.50 15.00 0.42 0.12 0.17 6.6 0.79
----------------------------------------------------------------------------
including Falco 7 132.00 135.00 3.00 1.06 0.21 0.28 8.1 1.69
----------------------------------------------------------------------------
HR-2013-38 Falco 7 146.00 162.00 16.00 0.38 0.11 0.20 3.9 0.76
----------------------------------------------------------------------------
HR-2013-38 Falco 7 166.00 168.00 2.00 0.39 0.15 0.06 8.8 0.79
----------------------------------------------------------------------------
HR-2013-38 Falco 7 189.65 191.30 1.65 0.81 0.18 0.06 94.7 1.29
----------------------------------------------------------------------------
HR-2013-30A Gamma 330.50 359.00 28.50 0.53 0.22 0.23 3.2 1.17
----------------------------------------------------------------------------
including Gamma 335.00 349.25 14.25 0.62 0.26 0.28 3.7 1.37
----------------------------------------------------------------------------
including Gamma 353.25 358.00 4.75 0.69 0.31 0.23 4.5 1.55
----------------------------------------------------------------------------
HR-2013-30A Gamma 400.08 401.63 1.55 1.10 0.35 0.45 22.5 2.10
----------------------------------------------------------------------------
including Gamma 401.02 401.20 0.18 0.18 1.02 1.56 89.1 3.12
----------------------------------------------------------------------------
including Gamma 401.20 401.50 0.30 0.26 0.58 0.81 24.8 1.91
----------------------------------------------------------------------------
including Gamma 401.50 401.63 0.13 0.26 0.52 0.68 22.7 1.70
----------------------------------------------------------------------------
HR-2013-39 Gamma 258.50 302.25 43.75 0.58 0.24 0.33 3.6 1.29
----------------------------------------------------------------------------
including Gamma 282.25 286.75 4.50 0.82 0.32 0.39 5.6 1.72
----------------------------------------------------------------------------
including Gamma 289.25 291.75 2.50 0.86 0.34 0.36 5.8 1.82
----------------------------------------------------------------------------
including Gamma 298.25 302.25 4.00 1.11 0.38 0.35 6.4 2.18
----------------------------------------------------------------------------
including Gamma 300.25 300.75 0.50 1.12 0.61 0.55 11.7 2.78
----------------------------------------------------------------------------
including Gamma 301.25 301.75 0.50 1.26 0.70 0.44 7.7 3.11
----------------------------------------------------------------------------
HR-2013-40 Gamma 298.50 320.50 22.00 0.39 0.15 0.18 2.2 0.83
----------------------------------------------------------------------------
including Gamma 304.50 312.50 8.00 0.51 0.19 0.19 3.0 1.06
----------------------------------------------------------------------------
HR-2013-41 Gamma 96.50 109.30 12.70 0.46 0.17 0.23 2.6 0.98
----------------------------------------------------------------------------
including Gamma 99.30 100.80 1.50 0.62 0.21 0.23 3.8 1.22
----------------------------------------------------------------------------
including Gamma 101.80 103.80 2.00 0.76 0.28 0.32 4.5 1.58
----------------------------------------------------------------------------
HR-2013-43 Mak-1 26.75 33.50 6.75 0.25 0.11 0.14 2.3 0.60
----------------------------------------------------------------------------
including Mak-1 31.25 33.50 2.25 0.41 0.15 0.17 3.6 0.85
----------------------------------------------------------------------------
HR-2013-43 Mak-1 83.50 90.75 7.25 0.45 0.20 0.25 4.6 1.04
----------------------------------------------------------------------------
including Mak-1 88.25 88.75 0.50 0.66 0.50 0.38 12.5 1.98
----------------------------------------------------------------------------
(i) CuEq (copper equivalent) calculations are based London Metals Exchange 3
year trailing average metal prices as of Dec 13, 2013 (this is new data and
is updated in regards to previous news releases) at US$ 8.51/lb. nickel, US$
3.67/lb. copper, US$ 1554.00/troy oz. gold, US$ 1596.00/troy oz. platinum,
and US$ 702.00/troy oz. palladium. The equation for CuEq value is as
follows: CuEq = ((Ni grade x Ni price x 22.04622) + (Cu grade x Cu 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)) / (Cu price x 22.04622).
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), and analyzing each sample
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 NI43-101.
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 30,658 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 local aboriginal
communities, and is committed to sustainable development. For more information
on the company, please visit www.nickelnorthexploration.com.
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; 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Phillip Mudry, P.Geol., President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Nickel North Exploration Corp.
604-609-6182
www.nickelnorthexploration.com
Nickel North Exploration (TSXV:NNX)
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