North American Nickel Inc announces new discovery of high grade Nickel Copper cobalt PGM sulphide mineralization at the Maniitsoq project in Greenland
Tuesday, Dec 04, 2012
North American Nickel Inc. (TSX VENTURE:NAN)(OTCBB:WSCRF) (CUSIP: 65704T 108) - North American Nickel ("NAN") is pleased to announce the discovery of significant values for nickel, copper, cobalt and, for the first time, the precious metals platinum, palladium and gold on its 100% owned 4,983 km2 Maniitsoq project in southwest Greenland (see Figure 1 for location).
This new discovery at Spotty Hill, starting approximately 50 meters below surface, was made in diamond drill hole MQ-12-005 which was designed to test a vertical to very steeply northeast-dipping, pipe-like electromagnetic (EM) conductor, defined by the 2012 VTEM-Plus survey. Spotty Hill is a historical, near surface anomaly previously tested by shallow north and south drilling.
Rick Mark, CEO states: "The discovery of high grades of Ni, Cu, Co and PGM/Au in long drill intersections confirms a previously unrecognized style of mineralization at Maniitsoq. This bodes well for future discovery potential on this district sized property. With PGMs added to our high grade Ni mineralization mix at Spotty Hill, in addition to the previously announced high grade Ni/Cu at Imiak Hill, we can safely say that, our re-interpretation of historical results and the use of modern geophysical techniques, confirm the property's potential to host significant Ni-Cu-Co PGM deposits."