Dallas, Texas (December 9, 2011) – StockGuru Shines its Spotlight on North American Nickel Inc. (TSX-V: NAN)(OTCBB: WSCRF). The Company is provided details yesterday comparing the electromagnetic (EM) results from its recently completed SkyTEM helicopter-borne survey and those from a 1995 vintage GeoTEM fixed-wing survey. The Company closed on December 8, 2011, at $0.09, trading in a fifty-two week range of $1.01 – 0.02.
The images provided below show that the SkyTEM geophysical system is detecting conductors not seen before and is also resolving previously known EM anomalies in much greater detail. These results have met or exceeded NAN’s expectations and firmly establish that the new exploration technology available today is able to identify new, previously unrecognized targets.
The area surveyed in 2011 comprises only 8% of the total Maniitsoq project. Based on the success of this program, additional areas are now being evaluated for helicopter-borne surveying in 2012.
NAN Chief Geologist John Pattison states: “The 1995 GeoTEM fixed-wing survey was the only large scale, airborne Time Domain EM survey ever performed in the Maniitsoq nickel belt prior to our SkyTEM survey. The SkyTEM system has identified new EM targets. It is clear to us that we now have a powerful exploration tool that provides us new opportunities for the discovery of nickel-copper PGM deposits in an underexplored area of the world, adjacent to year round, ice free tide water.”
As reported in the December 6th 2011 news release, NAN completed 2,217 line-kilometers of SkyTEM helicopter time domain EM (TEM) surveying this past summer covering two blocks of ground totalling 373 km2 within its 4,841 km2, 100% controlled, mineral exploration licence.
Locations of the blocks flown are shown in Figure 1 (below). Block 1 is situated at the northern end of the 80 plus kilometre long norite belt and hosts the largest of the known nickel bearing norite bodies and strongest nickel occurrences discovered to date in the belt. Block 2 covers a four kilometre long rusty norite body northwest of the main norite belt trend.
Figure 2 shows the distribution of 1995 GeoTEM EM anomalies within Block 1. In 1995, there were only three significant (>2 channel) responses and they were all single line anomalies associated with exposed mineralization at the Imiak Hill, Fossilik II and Spotty Hill showings. The cluster of 1 and 2 1995 channel anomalies on the west side of the block corresponds with a lake and is probably caused by conductive sediments.
Figure 3 shows the 2011 SkyTEM results from Block 1. Note the abundance of EM anomalies, including multi line anomalies with significant strike length. Significant conductive target zones include:
Target B1-B: 850 m long, untested, conductor within an interpreted norite body.
Target B1-F: 300 m long untested conductor on the edge of an interpreted norite body.
Target B1-J: Very strong 200 to 300 m long conductor corresponding to Imiak Hill mineralization. This target was detailed and the results will be used to model the mineralization in three dimensions to determine if the mineralization has any depth extent.
Target B1-O: 300 m long untested conductor situated on cross-cutting structure near edge of a Proterozoic olivine diabase dyke.
Target B1-Q: 150 m long conductive zone corresponding to the Fossilik II mineralization. This target was detailed and the results will be used to model the mineralization in three dimension to determine if the mineralization has any depth extent.
In Block 2, the 1995 GeoTEM system only detected one weak (2 channel) anomaly near the northern boundary of the block shown in Figure 4 (below), while the 2011 SkyTEM survey outlined 8 target zones one of which (B2-B) corresponded to the lone GeoTEM anomaly shown in Figure 5 (below).
The next step in the analysis of the 2011 SkyTEM data will be the 3D modeling of specific geophysical anomalies. The modelling is ongoing and expected to be completed early in the new year. This work will assist the Company in prioritizing potential drill targets for the 2012 exploration program.
Qualified Person
All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company and President and Chief Operating Officer, North American Nickel Inc.
About North American Nickel
North American Nickel is a mineral exploration company with 100% owned properties in Sudbury, Ontario, Maniitsoq, Greenland and the Thompson, Manitoba mining camp. The Company’s initial focus is on two Sudbury, Ontario properties and its Greenland project.
The Post Creek/Halycon property in Sudbury is strategically located adjacent to the producing Podolsky copper-nickel-platinum group metal deposit of Quadra FNX Mining. The property lies along the extension of the Whistle Offset dyke structure, which is a major geological control for Ni-Cu-PGM mineralization.
The Bell Lake property in Sudbury is a 256-acre property that covers approximately one kilometre of the Mystery Offset dyke or MOD. The MOD is interpreted to be an extension of the Worthington Offset dyke which is a 10 to 11 kilometre-long mineralized structure that extends from the southwest margin of the Sudbury igneous complex.
North American Nickel also controls a 4,841 square km Mineral Exploration Licence in southwest Greenland with exclusive mineral exploration rights. The principal target is high-grade nickel-copper occurrences associated with norite and other mafic and ultramafic intrusions.
The Company has also acquired 100% ownership in the high-grade Ni-Cu-PGE South Bay property near Thompson, Manitoba and the large grassroots Thompson North and Cedar Lake properties, which are part of the world-class Thompson Nickel Belt in Manitoba. North American Nickel Inc. is a member of the North Shore Mining Group.
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.
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.
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