Vancouver, British Columbia--(Newsfile Corp. - September 10,
2018) -
North American Nickel Inc.(TSXV: NAN) (OTCBB: WSCRF) (CUSIP: 65704T 108)
(the "Company") is pleased to provide an exploration update of work
completed on the Qeqertassaq Carbonatite Complex in Southwest
Greenland.
A mineral licence over a highly prospective block of ground in
the Greenland Norite Belt (GNB) containing the Qeqertassaq
Carbonatite Complex was awarded to the Company in 2018 (see news
release on July 9, 2018). Compilation and re-interpretation of
historic data for the property has helped to identify norite-hosted
nickel sulphide targets, and focus exploration on the potential for
rare and strategic metals.
NAN CEO, Keith Morrison, commented: "The Qeqertassaq mineral
license is located in the centre of the Greenland Norite belt and
NAN's Maniitsoq exploration license. Our primary objective in
acquiring this license is to assess the NiS mineralization
potential proximal to the actual carbonatite intrusive. However,
NAN will also assess the value of the carbonatite hosted
mineralization that has been the focus of previous exploration on
the property. When this evaluation is complete, NAN will define an
appropriate strategy for what is currently considered a non-core
asset."
Ni-Cu-Co sulphide targets from a 1995 airborne geophysical
Geotem survey were followed-up with surface electromagnetic surveys
in 2018. The ground geophysical surveys targeted areas of variably
metasomatized basement rocks of the Greenland Norite Belt cut by
ring dykes of the Carbonatite Complex. Two holes were drilled for a
total of 553m and targeted conductive responses of 7200S and 36S
("Siemens"). The holes were designed to test potential nickel
targets and provide materials to characterize parts of the complex
that have received minimal previous exploration. The conductive
responses were explained by stringers of barren pyrrhotite within a
carbonate-magnetite host rock, and associated with a thick interval
of magnetite.
The strategic metal potential of the 15 km
2 Qeqertassaq Carbonatite Complex was the focus of the
2018 program of surface rock sampling and drilling. Compilation
work identified new opportunities for the discovery of tantalum
(Ta) and niobium (Nb) in the mineral pyrochlore associated with
xenolithic carbonatite and actinolite-magnetite-calcite sheets
developed at the margin of the complex. Pyrochlore, the principal
host of Nb and Ta, is recognized in association with these rocks.
The correlation between elevated abundances of Ta and Nb in areas
with significant airborne radiometric and magnetic anomalies helped
to focus this program of surface sampling and drilling in 2018.
Four holes were drilled for a total of 752m and 284 outcrop samples
were collected to evaluate the strategic metal potential of the
Qeqertassaq Carbonatite Complex. Assay results are pending.
"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 Peter C. Lightfoot, Ph.D., P.Geo. (Chief Geologist),
who is the Qualified Persons 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 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.
Figure 1: Projects Location Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2081/38551_figure1.jpg