CaNickel announces 2012 winter drilling results
Vancouver, British Columbia - 7. September 2012 - CaNickel Mining Ltd. ("CaNickel" or the "Company") is pleased to announce full drill results from its 2012 winter drilling program at its M11A property, a deposit (the "M11A North" deposit) at the Company's Thomson Nickel Belt Exploration Project in Manitoba. This deposit is located approximately four kilometers north of the Bucko Lake Nickel Mine and its processing facilities near the city of Wabowden, Manitoba. The drill program was designed to extend the deposit to depth, along strike and further delineation of existing known mineralization.
12 meters were drilled and 7.157 samples were analyzed as part of this 1.519 drilling program. The drill results from the first three holes were on 5. March 2012 released and drilling M12-02 intersected a section of 7,3 meters with 2,59% nickel (see news release from 5, March 2012 for details). The highlights of the drill intercepts in this drill program are as follows:
Highlights of drilling intersections include:
• Hole M12-02 intersected 7,3 meters with 2,59% nickel;
• Hole M12-07 intersected 5,3 meters with 2,24% nickel;
• Hole M12-08 intersected 10,4 meters with 1,20% nickel; and,
• Hole M12-09 intersected 12,9 meters with 1,21% nickel and 12,9 meters with 1,17% nickel.
Incoming exploration results
The following table summarizes drill results from the 2012 winter drilling program at the M11A North deposit.
From the year 1959, Xstrata Nickel (formerly Falconbridge) conducted numerous geophysical ground surveys (magnetic, AFMAG EM and IP) over the ultramafic rocks in the M11A area. Between 1959 and 1961, Consolidated Marbenor Limited downsized 46 diamond drilling, while Xstrata continued to drill 1960 in the 11 years. The M11A ultramafic rocks can be detected over four kilometers in length, of which less than 2,5 kilometers have been drilled. The drilled holes also showed large gaps.
The discovery of significant nickel mineralization at M11A was first announced in the year 2006. Subsequent 2007, 2008, 2009, and 2011 drilling programs have been completed over the years (see 11 July 2006, 8, May 2007, 21, April 2008, 20, 2008, 4, January 2010, 4, 2010, 29, 2011) June 2009). Due to weather-related and logistical complications during the winter drilling program in 2012, the zones could not be investigated at depth and along strike to the southwest. The winter drilling program XNUMX served to demarcate these areas.
The Company is currently reviewing the drilling results at M11A and is updating the resource estimate for the M11A area. Upon completion of the resource estimate, further exploration at the M11A North deposit may be warranted and the Company expects the M11A North deposit to one day provide a source of further throughput for operation at the Mine Bucko location to expand production and extend the life of the Mine To extend operation.
Quality control
CaNickel applies a quality control process to ensure that sampling and analysis are carried out in the best possible way. The samples are cut and split for analysis. The remaining portion of the sample is stored for reference. The samples to be analyzed are first transferred in sealed and secure bags to the ALS-Chemex Laboratory ("ALS") Thunder Bay, Ontario for reprocessing. ALS then sends the tarnish to its Vancouver office in British Columbia for analysis. For analysis of gold and platinum group metal content, all samples were subjected to ICP-AES completion and sodium peroxide fusion fire blasts in the ALS laboratory in Vancouver. For the analysis of all other metal contents, an ICP AES qualification is carried out. All 25 samples are each given one standard and one blank in the sample set.
James Wong (P.Eng., P.Geo.), The Qualified Person as defined by National Instrument 43-101, has verified the information and has reviewed and approved the contents of this news release.
ABOUT CANICKEL
CaNickel Mining Limited is a junior Canadian mining company and owner / operator of the Bucko Lake nickel mine near Wabowden, Manitoba. The Company also owns nickel, copper and platinum group metal (PGM) projects in the Thompson Nickel Belt and the Sudbury Basin.
For more information, visit the company's website at www.canickel.com or:
Derek Liu
CFO and Corporate Secretary
E-mail: [email protected]
CaNickel Mining Limited
(formerly Crowflight Minerals Inc.)
Mailbox 35 1655-999 West Hastings Street
Vancouver, British Columbia Canada V6C 2W2
Tel: +1-778-372-1806 Fax: +1-604-254-8863
Precautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements under Canadian securities laws. Forward-looking statements include, without limitation, statements regarding plans to review drill results, update the resource estimate at M11A North and develop the deposit. In general, forward-looking statements can be recognized by the use of future-oriented terms, such as "plans", "expected", "does not expect", "is expected", "budgeted", "estimates", "forecast", " intends ”,“ does not intend ”,“ believes ”or variations of such terms and phrases or statements according to which certain actions, events or results“ may ”,“ could ”,“ would ”or“ will ”occur. Forward-looking statements are based on the opinions and estimates of management at the time these statements are made. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results, level of activity, performance, or achievements of the company to differ materially from those expressed or implied in the forward-looking statements. These include, but are not limited to, the risks described in the annual reports published in the company profile on SEDAR at www.sedar.com. The company's management has endeavored to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements. However, other factors could also mean that results will not be as expected, estimated or intended. However, it cannot be guaranteed that such statements will turn out to be truthful. Actual results and future events could differ materially from such statements. Readers are cautioned that forward-looking statements cannot be relied upon. The company does not intend to update forward-looking statements unless required by applicable securities laws.
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