VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2012) - Nickel North Exploration Corp. (TSX VENTURE:NNX) ("Nickel North" or the "Company") is pleased to announce the successful completion of the 2012 exploration program on our Hawk Ridge Ni-Cu-PGE (platinum group elements) property located on tide water in Northern Québec. This is the first drill program on the property in fifteen years. The objectives of the program were to follow up and expand the historical mineralized zones by completing a minimum 1,000 meters of diamond drilling. This drill program confirmed the historical data and expanded on the intermediate-grade and high-grade potential of several zones. The property comprises approximately 50% outcrop, allowing three of the major mineralized areas, (Pio, Gamma and Hopes Advance) to be examined in detail by Dr. Larry Hulbert and Dr. Quentin Gall. Their investigations have confirmed magmatic sulphides are present in all zones and have extended the strike length of some zones. The new VTEM PLUS survey has been interpreted by Dr. Mark Shore and identified 35 new areas of favourable geophysical response for Ni, Cu, PGE mineralization (strong conductivity and associated magnetic anomalies with favourable proximal geology). A detailed analysis of the VTEM PLUS survey is planned to be released in the near future.
- The Hawk Ridge property is a 50 km long by 5 km wide belt of Proterozoic mafic to ultramafic volcanic and subvolcanic assemblages and thin interbeds of sedimentary rocks. The historical data identified numerous magmatic Ni-Cu-PGE showings in the mafic to ultramafic sills containing thick disseminated sections (DH96-17: 65.2m @ 0.209% Ni and 0.407% Cu) and high-grade semi-massive to massive zones (DH-97-112: 3.5m @ 3.39% Ni and 2.45% Cu).
- Our understanding of the mineralization on the Hawk Ridge property leads us to conclude that several major features of the property and mineralization are directly comparable to the Ni, Cu, and PGE mining districts of Raglan and Thompson within the Circum-Superior mafic-ultramafic igneous province.
- This year's program has identified two major types of magmatic Ni-Cu-PGE mineralization:
- An immediate target of large tonnage intermediate-grade, with open pit potential, is present in the Hopes Advance area and the Gamma zone.
- A second type of target is the high-grade Raglan-style of mineralization is seen at Hopes Advance area, the Gamma zone and the Pio area.
- All drill core holes from the 2012 program encountered magmatic sulphide mineralization in the mafic to ultramafic assemblage of rocks.
- Preliminary interpretation of the VTEM PLUS survey by Dr. Shore identified 35 new anomalous areas showing highly favourable Ni, Cu, and PGE geophysical responses, with little or no previous work.
- Resource modelling is planned to begin on several of the zones during Q4 2012 and is expected to be designed to further define and expand on the new and historical drilling on the property.
- Key supplies are planned to be shipped to the project site by sea this fall, a strategy that will reduce costs and permit an early start for the 2013 exploration program.
- Nickel North Exploration Corp. continues to earn an undivided 100% interest in the Hawk Ridge Ni-Cu-PGE property as described in the Nickel North April 10, 2012, news release, found on the company's website at the link here: http://www.nickelnorthexploration.com/news-release-april-10-2012/
Exploration drilling was focused on three zones on the Hawk Ridge property. The five weeks, 2012 program consisted of seven NQ size core drill holes ranging in depth from 110 m to 210 m, for a total of 1,003 m. The program achieved its objectives of establishing and expanding the potential of the large tonnage intermediate-grade target (disseminated to net-textured sulphides) at the Gamma zone. As mapped on surface by Dr. Gall, the Gamma zone is now determined to be > 800 m in length with a minimum thickness of 10 m. It was intersected in all five of the drill holes which targeted it in the 2012 program. A three-meter thick zone of semi-massive to massive sulphides (high-grade target) was intersected in a new area of the Gamma zone.
One drill hole was completed in the Pio area, confirming the presence of semi-massive to massive sulphide and disseminated sulphides. Dr. Hulbert established that the mineralization of the Pio area is of magmatic origin sourced from a nearby mafic/ultramafic intrusive assemblage.
One infill drill hole was completed on the Hopes Advance Main zone, and confirmed that the disseminated to net-textured mineralization has a thickness of at least 40 meters.
A total of 1,000 meters of existing core (1996 and 1997 drilling) was resampled using the same protocol as the 2012 core. The resampling (a) is expected to establish quantitative analyses for historical geochemistry and (b) is expected to sample core that had not been either sampled previously or not analyzed for PGEs. This resampling program is designed to define and expand on the non-compliant historical Ni-Cu resources.
The new geochemical protocol for the property includes sampling the entire length of the diamond drill-hole (half cut NQ core) for Ni, Cu and Pt, Pd (fire assay) and a 39-element ICP-MS package following a 4 acid digestion. Final results are expected in late October to mid November.
Phillip Mudry, P.Geol., has reviewed the contents of this news release and is a Qualified Person as well as the President and Chief Executive Officer for Nickel North Exploration Corp.
About Nickel North Exploration Corp.
Nickel North Exploration Corp. is a Canadian based exploration company focused on defining a Ni-Cu-PGE resource on the Hawk Ridge Project in northern Québec. The board of directors, advisor committee and management team are experienced, successful mine finders. The company has an option to purchase 100% of the Hawk Ridge property, comprising a 50 km extent of magmatic Ni-Cu-PGE prospective terrain covering 18,000 hectares. The project is located on tidewater. Québec is a mining-friendly jurisdiction. Nickel North Exploration Corp. is a conscientious corporate citizen, maintains good relations with First Nations, and is committed to sustainable development. For more information on the company, please visit www.nickelnorthexploration.com.
The historical geochemistry presented above is relevant to future exploration of the project. The Company has recently completed a drilling and sampling program on the property. Existing historical intersections do not meet requirements set by NI 43-101. The Company is not relying on the historical intersections until the quantitative resampling program is completed.
ON BEHALF OF NICKEL NORTH EXPLORATION CORP.
Phillip Mudry, P.Geol., President and Chief Executive Officer
Disclaimer for Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include statements that a detailed analysis of the VTEM PLUS survey is planned to be released in the near future; resource modelling is planned to begin on several of the zones during Q4 2012 and is expected to be designed to further define and expand on the new and historical drilling on the property; key supplies are planned to be shipped to the project site by sea this fall a strategy that will reduce costs and permit an early start for the 2013 exploration program; final results from sampling the entire length of the diamond drill-hole (half cut NQ core) for Ni, Cu and Pt, Pd (fire assay) and 39-element ICP-MS package following a 4 acid digestion are expected in late October to mid-November; and the resampling is expected to establish quantitative analyses to the historical geochemistry and is expected to sample core that had not been either sampled previously or analyzed for PGE's. 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 are described 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.
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.