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North American Nickel Updates on Ongoing 2015 Exploration Program at Maniitsoq Nickel-Copper-Cobalt-PGM Project

North American Nickel Inc. (the "Company") is pleased to provide an update on the 2015 exploration program underway at the Company's 100% owned Maniitsoq nickel-copper-cobalt-PGM project in southwest Greenland.

Subsequent to the previous exploration update announcing commencement of the 2015 Maniitsoq exploration program (see press release June 29, 2015), the Company provides the following project updates: (see figure 1)

  • An airborne Versatile Time Domain Electromagnetic (VTEM) survey comprising 6,700 line km of magnetic and electromagnetic (EM) data acquisition has been completed and has identified approximately sixty (60) additional targets for further analysis and potential ground follow-up.
  • A 6,000m drilling program is 35% complete with first assays expected in mid-August.
  • A surface gravity survey centered on the P-013 target area has been completed and preliminary data has outlined several gravity anomalies which are coincident with magnetic highs, some of which could represent magnetic mafic to ultramafic intrusions.
  • Surface time domain electromagnetic surveys (TDEM) are currently in progress and approximately 45% complete. Two additional drill targets have been generated including one at the mineralized P-013 area and one at P-012 regional exploration target.
  • Tasking of DigitalGlobe's Worldview-3 satellite has been initiated to acquire multispectral and high spatial resolution data across the project area.
  • The field component of a structural mapping program has been completed and is helping to define potential controls on nickel sulphide mineralization.
  • Field checking of VTEM anomalies and ltihogeochemical sampling of mafic-ultramafic intrusions across the Greenland Norite Belt (GNB) is in progress with three helicopter supported geological field crews.

The Company's large multi-component exploration program is well underway with field activities focussed on identifying and drill testing new regional drilling targets as well as following up existing nickel with holes completed at Imiak Hill, Fossilik, P-013 and the P-053 target areas. Initial shipments of drill core samples left the project site on July 11th and receipt of initial assay results are expected in mid-August.

The 2015 VTEM survey has completed coverage over the GNB and selected other target areas on the Maniitsoq property as shown in Figure 1. Preliminary analysis of the data has outlined approximately 60 anomalies of interest which are being modeled and prioritized for field follow-up and potential drill testing. A high priority EM anomaly with an associated magnetic anomaly has been identified at the Takisoq West nickel-copper showing where historic drilling and surface sampling identified norite and paragneisses with elevated nickel and copper values. Geological crews are field checking both new and existing VTEM anomalies in order to prioritize them for drill testing.

A gravity survey designed to provide coverage over a concentration of exploration targets and norite intrusions including the mineralized P-013 target area was recently completed and data analysis is in progress. The survey covered an area 7 km x 10 km in size with data collected on 250 to 500m station centers. Preliminary data has outlined several gravity anomalies which are coincident with magnetic highs as shown in Figure 2.

Surface TDEM surveys are in progress and have outlined two drill targets, including a high quality EM anomaly at the P-012 target area located at the western edge of a newly defined gravity anomaly and an EM anomaly at the P-013 target where the Company intersected 5.85 metres (core length) of 2.07% nickel and 0.12% copper in hole MQ-14-066 in 2014 (see press release November 3, 2014).

The Company has engaged with DigitalGlobe to acquire WorldView-3 multi-spectral satellite data and tasking of the satellite has recently been initiated and is expected to continue into August. The goal of the satellite acquisition is to provide high spatial resolution data for field mapping purposes as well as multi-spectral data to help identify target lithologies and gossans across the district scale Maniitsoq property.

Patricia Tirschmann, V.P Exploration states: "With the completion of the 2015 VTEM survey, the Company now has a very robust EM dataset across the Greenland Norite Belt. Geological and surface geophysical crews are making excellent progress following up both airborne and surface EM targets and these are being prioritized for drill testing as part of the 2015 program. Geological field work is also focussed on advancing the project more quickly by developing a clearer understanding of the geological setting and the controls on mineralization as well as an efficient method for drill hole targeting. The drilling program is on schedule and we look forward to reporting first assay results.

Source: http://www.northamericannickel.com/

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