Good to see the Reed Mine ready to be officially opened.
VMS's sister company NAN.V is set to start drilling the Earth's Oldest Nickelferous Impact Crater
North American Nickel Receives Final Data for Recently Completed VTEMplus Survey over its Maniitsoq Ni-Cu-PGE Project, Southwest Greenland
Vancouver, B.C. – August 9, 2012. North American Nickel Inc. (TSX VENTURE: NAN) (OTCBB: WSCRF) (CUSIP: 65704T 108) North American Nickel ("NAN") is pleased to report that it has received the final electromagnetic (EM) and magnetic datasets from Geotech Ltd. for the VTEMplus survey completed over its 100% owned Maniitsoq project in July. As outlined in the NAN press release dated July 24, 2012 fifty conductive zones were identified in the 2012 VTEMplus preliminary data. Detailed interpretation is now being done on the final data in preparation for drilling later in August.
The detailed interpretation work includes modeling of selected higher priority EM conductors and determining their orientation and potential extent in three dimensions. An example of this modeling for two conductors, P-28 and P-33, is shown in Figure 1.
These conductors are located in the central east part of the Greenland Norite Belt (GNB) as shown in Figure 2. The modeling indicates both have significant strike (400 to 600 m) and dip extents (800 m). These conductors have not been field checked or drilled, so it is not yet known what is causing them. It is encouraging that significant conductors clearly exist in the GNB, as historic exploration was hampered by a lack of EM targets to guide drilling (see NAN press release dated August 15, 2011).
To view Figures 1 and 2 please click on the following link: http://media3.marketwire.com/docs/0809NAN.pdf
NAN CEO, Rick Mark, states: “We are very pleased with the discovery, to date, of over 70 conductors at our 100% owned Maniitsoq project in Greenland. And, we have now identified sizable anomalies, as the apparent strike length of some of them exceeds 1 km. Since our exploration goal is a new nickel camp, it is most encouraging to see several of these sizable targets within the core of the norite intrusive belt.”
MANIITSOQ PROJECT BACKGROUND
The Maniitsoq area has seen relatively little exploration activity given its very large size and abundance of nickel occurrences. Historical exploration records indicate drilling for nickel mineralization dates back to a period between 1965 and 1972 when 119 shallow drill holes were reported. The holes tested exposed sulphide mineralization and shallow electromagnetic (EM) anomalies directly associated with outcropping mineralization. All but a few were drilled to very shallow depths using small portable Winkie drills. The average hole length was just 53 meters.
Nevertheless, numerous significant intersections included:
- Imiak Hill: 9.85 meters @ 2.67% Ni, 0.60% Cu,
- Fossilik: 12.89 meters @ 2.24% Ni, 0.63% Cu, and
- Quagssuk: 4.95 meters @ 1.97% Ni, 0.43% Cu.
In 1995 Cominco Ltd, in conjunction with the Geological Survey of Denmark and Greenland (GEUS), flew a large portion of the GNB with a GeoTEM fixed wing, airborne EM system. Relatively few EM anomalies were detected. A review of this airborne survey data revealed that much of the survey was flown well above the minimum effective height needed to gather useful data and therefore detected few anomalies. Follow-up prospecting and limited surface geophysical surveys by Cominco in 1995 and 1996 and by Falconbridge Limited in 2000 did not lead to any drilling. Re-sampling of the drill core and surface showings by both Cominco and Falconbridge did, however, confirm the generally high nickel tenor of the sulphides (recalculated to approximately 8% nickel in 100% sulphide in the case of Falconbridge's work).
NAN acquired the project because it believes the area has the potential to host a major new nickel mining camp. By using modern, time-domain, helicopter-borne EM systems exploration will be more effective at detecting nickel sulphide deposits in the rugged terrain at Maniitsoq than the fixed wing survey flown in 1995. Helicopter TDEM systems were not available in 1995 and their availability and improved sensitivity to buried and blind nickel deposits provides NAN with a significant advantage over previous explorers.
For previous press releases and more information on NAN and the Maniitsoq project please visit the company website at www.northamericannickel.com.