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CaNickel to Release 2012 Winter Drilling Results

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CaNickel to Release 2012 Winter Drilling Results

 
 
 
 
 
CaNickel Mining Ltd. (TSX:CML) provide the complete drilling results from the 2012 winter drilling program at the Company’s M11A area, a deposit (“M11A North Deposit) of 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 milling operations, near the town of Wabowden, Manitoba. This drill program was designed to extend the deposit to depth and along strike, as well as provide further definition of the existing known mineralization.
 

A total of 7,157 meters have been completed and 1,519 samples were assayed in this 12 holes drilling program. The drilling result of the first three holes was released on March 5, 2012 and Drill hole M12-02 intercepted 7.3 meters of 2.59% nickel (please refer to our press release dated March 5, 2012 for details). Highlight intersection from drill holes of this drilling program are as follows:

 

Highlight Intersection from the drill holes include:

 
 
--  Hole M12 - 02 intersected 7.3 meters grading 2.59% nickel; 
--  Hole M12 - 07 intersected 5.3 meters grading 2.24% nickel; 
--  Hole M12 - 08 intersected 10.4 meters grading 1.20% nickel; and, 
--  Hole M12 - 09 intersected 12.9 meters grading 1.21% nickel and 12.9
    meters grading 1.17% nickel.
 
Detailed Exploration Results
 

The following table summarized the drilling results for the 2012 winter drilling program at M11A North Deposit.

 

 

---------------------------------------------------------------------
                       From            To        Length            Ni
             --------------------------------------------------------
Drill Hole               (m)           (m)           (m)           (%)
---------------------------------------------------------------------
M12-01                567.6         568.6           1.0          1.02
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-02                568.0         575.3           7.3          2.59
---------------------------------------------------------------------
M12-02                594.4         595.3           0.9          1.41
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-03                445.5         457.4          11.9          1.05
---------------------------------------------------------------------
M12-03                468.1         470.2           2.1          5.42
---------------------------------------------------------------------
               Including 1.0 metres of 10.25% Ni from 468.05-469.05  
---------------------------------------------------------------------
M12-03                515.6         518.6           3.0          1.66
---------------------------------------------------------------------
                 Including 1.6 metres of 2.40% Ni from 517.0-518.6   
---------------------------------------------------------------------
M12-03                523.0         524.3           1.3          1.05
---------------------------------------------------------------------
M12-03                537.1         538.1           0.9          1.56
---------------------------------------------------------------------
M12-03                548.3         549.1           0.8          2.89
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-04                525.9         528.9           3.0          1.49
---------------------------------------------------------------------
                Including 1.2 metres of 2.30% Ni from 526.65-527.85  
---------------------------------------------------------------------
M12-04                542.5         543.6           1.0          1.07
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-05                461.3         463.6           2.3          1.26
---------------------------------------------------------------------
M12-05                474.0         474.9           0.9          1.20
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-06                530.3         531.4           1.1          4.43
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-07                369.9         370.7           0.8          1.08
---------------------------------------------------------------------
M12-07                461.0         466.2           5.3          2.24
---------------------------------------------------------------------
                Including 2.55 metres of 3.03 % Ni from 462.45-465   
---------------------------------------------------------------------
M12-07                472.4         475.4           3.0          1.47
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-08                490.4         494.2           3.8          3.23
---------------------------------------------------------------------
                Including 0.90 metre of 12.60 % Ni from 491.9-492.8  
---------------------------------------------------------------------
                      517.4         520.6           3.3          2.17
---------------------------------------------------------------------
               Including 0.75 metre of 7.22 % Ni from 518.35-519.10  
---------------------------------------------------------------------
M12-08                575.0         585.4          10.4          1.20
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-09                418.5         419.3           0.8          1.21
---------------------------------------------------------------------
M12-09                427.0         439.8          12.9          1.21
---------------------------------------------------------------------
                Including 3.2 metres of 2.15 % Ni from 427.8-431.0   
---------------------------------------------------------------------
               Including 1.75 metres of 1.64 % Ni from 438.05-439.8  
---------------------------------------------------------------------
M12-09                440.5         453.4          12.9          1.17
---------------------------------------------------------------------
               Including 1.35 metres of 3.45 % Ni from 444.8-446.15  
---------------------------------------------------------------------
M12-09                465.9         467.4           1.5          1.60
---------------------------------------------------------------------
M12-09                473.9         475.2           1.3          1.07
---------------------------------------------------------------------
M12-09                476.4         477.3           0.9          1.98
---------------------------------------------------------------------
M12-09                492.4         494.3           1.9          2.73
---------------------------------------------------------------------
                 Including 0.9 metre of 4.16 % Ni from 492.4-493.3   
---------------------------------------------------------------------
M12-09                516.1         516.9           0.9          1.72
---------------------------------------------------------------------
M12-09                519.0         519.9           0.9          1.02
---------------------------------------------------------------------
M12-09                534.6         535.8           1.2          1.37
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-10                421.8         422.8           1.0          1.05
---------------------------------------------------------------------
M12-10                425.8         430.3           4.5          1.19
---------------------------------------------------------------------
M12-10                433.4         434.9           1.5          1.05
---------------------------------------------------------------------
M12-10                497.8         498.5           0.7          3.15
---------------------------------------------------------------------
M12-10                504.2         504.8           0.6          1.23
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-11                452.1         453.9           1.8          2.37
---------------------------------------------------------------------
                Including 0.75 metre of 3.75 % Ni from 452.1-452.85  
---------------------------------------------------------------------
M12-11                468.0         469.5           1.4          1.10
---------------------------------------------------------------------
M12-11                497.7         500.2           2.6          0.88
---------------------------------------------------------------------
M12-11                505.7         507.0           1.3          1.06
---------------------------------------------------------------------

---------------------------------------------------------------------
M12-12                403.7         404.5           0.8          4.90
---------------------------------------------------------------------
M12-12                425.6         429.1           3.5          0.96
---------------------------------------------------------------------
M12-12                431.8         433.8           2.0          1.14
---------------------------------------------------------------------
- Intersection intervals reported are core lengths; actual true widths 
  are unknown at this time but are generally 70 to 80% of core length. 
  Once known, true widths are calculated for each intersection. These 
  could vary somewhat from time to time as the zones are re-interpreted, 
  thereby altering the geometry.
 
 
 
At M11A area, Xstrata Nickel (formerly Falconbridge) conducted numerous ground geophysical surveys (magnetics, AFMAG EM and IP) over the M11A ultramafic from 1959 onwards. Consolidated Marbenor Limited completed 46 diamond drill holes between 1959 and 1961, with Xstrata subsequently drilling 11 holes in the 1960’s. The M11A ultramafic can be traced for more than 4 kilometres in length, of which less than 2.5 km had been drill tested and that was only by widely spaced holes.
 

The discovery of significant nickel mineralization at M11A was first announced in 2006 and was followed up by subsequent drilling programs in 2007, 2008, 2009, and 2011 (refer to press releases dated July 11, 2006, May 8, 2007, April 21, 2008, May 20, 2008, January 4, 2010, February 4, 2010 and June 29, 2011). Due to complications with weather and logistics in the 2009 winter drilling program, zones at depth and along strike to the southwest were not able to be tested. The 2012 winter drill program targeted these areas for definition.

 

The Company is reviewing the results from the drilling programs at M11A and updating resource calculations at M11A area. Upon completion of the resources calculation, further studies at M11A North Deposit might be warranted and the Company expects that M11A North Deposit could eventually provide a source of supplemental feed for the Bucko Lake Mine operations to expand production and extend the life of the operations.

 

Quality Control

 

CaNickel executes a quality control program to ensure best practice in sampling and analysis. Samples are cut and split for assay with the remaining sample retained for reference. Samples to be assayed are initially transported in sealed and secure bags for assay preparation at ALS-Chemex Laboratory (“ALS”) in Thunder Bay, Ontario for sample preparation. Subsequently ALS then sends pulps to their Vancouver British Columbia, offices for analysis. Fire assays were performed at ALS’s laboratory in Vancouver on all the samples for gold and PGEs which undergo an ICP-AES finish and Sodium Peroxide Fusion. All other metals undergo an ICP-AES finish. Standards and blanks are submitted with each sample batch, one for every 25 samples.

 

James Wong, P.Eng., P.Geo., the Qualified Person as defined under 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 Canadian junior mining company that owns and operates the Bucko Lake Nickel Mine near Wabowden, Manitoba. The Company also holds nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.
Posted September 7, 2012

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