TORONTO, Oct. 8, 2021 /CNW/ - Nickel Creek Platinum Corp.
(TSX: NCP) ("Nickel Creek" or the "Company") is pleased to announce
initial results from its 2021 drilling and geophysics program which
concluded during the month of August
2021 in Yukon, Canada. The
drilling component of the program comprised 12 holes totalling
1,257 metres (m). The 2021 holes tested electromagnetic (EM) target
conductors identified from the 2020 time-domain electromagnetic
(TDEM) survey (see December 10,
2020 news release for details). Conductors were
ground-checked and historical exploration data was reviewed to
prioritize 2021 drill targets.
Near surface massive sulphide nickel-copper mineralization was
encountered in five of six holes (see Figure 1 for a core photo of
a massive sulphide intersection at Arch). Results from a further
six holes as well as platinum group metal analytical results remain
outstanding.
HIGHLIGHTS OF THE DRILL RESULTS:
- Massive sulphide intervals grading 1.22% to 3.85% nickel
(Ni) and 0.92% to 2.77% copper (Cu) over 1.0m to 4.3m
intervals in five of six holes drilled from the Arch 1 Drill Pad
(see Table 1 for details).
- Disseminated and massive sulphide significant intervals
grading 0.43% to 1.41% Ni and 0.25% to 0.69% Cu over 12.4m to 23.7m
intervals in six holes (see Table 2 for details).
- Near surface massive sulphide mineralization at shallow
depths of 23m to 64m.
"It is very exciting to receive confirmation that we have
intersected multiple, near surface hits of high-grade massive
nickel-copper sulphide mineralization along our 18-kilometre
ultramafic intrusive in close proximity to the historic Wellgreen
deposit," said Stuart Harshaw,
President and CEO of Nickel Creek Platinum. "We look forward to
defining the extent and potential of this zone to help advance the
Nickel Shäw Project to become a world-class nickel sulphide
mine."
Table 1: Drilling summary – massive sulphide
Intervals
Hole
|
Ni%
|
Cu%
|
Co%
|
Interval
(m)
|
From
(m)
|
ASD21-001
|
2.55
|
1.35
|
0.10
|
3.19
|
40
|
ASD21-002
|
2.15
|
0.92
|
0.04
|
1.01
|
52.15
|
ASD21-003
|
2.56
|
1.44
|
0.07
|
4.32
|
63.5
|
ASD21-004
|
3.85
|
1.37
|
0.11
|
3.45
|
34.5
|
ASD21-005
|
1.22
|
2.77
|
0.05
|
1.86
|
41
|
Note: All
intervals listed are down-hole core lengths, not true widths;
interval grades are length weighted. A cut-off grade of 1.0% Ni was
applied for the massive sulphide.
|
Table 2: Drilling summary – combined massive and disseminated
sulphide Intervals
Hole
|
Ni%
|
Cu%
|
Co
%
|
Interval
(m)
|
From
(m)
|
ASD21-001
|
0.87
|
0.52
|
0.03
|
15.19
|
28
|
ASD21-002
|
0.45
|
0.25
|
0.02
|
23.66
|
29.5
|
ASD21-003
|
0.84
|
0.53
|
0.03
|
21.82
|
46
|
ASD21-004
|
1.41
|
0.55
|
0.05
|
11.95
|
26
|
ASD21-005
|
0.55
|
0.69
|
0.02
|
12.36
|
30.5
|
ASD-21-006
|
0.43
|
0.32
|
0.02
|
15.16
|
40.92
|
Note: All
intervals listed are down-hole core lengths, not true widths;
interval grades are length weighted. A cut-off grade of 1.0%
Ni was applied for the massive sulphide and 0.3% Ni for the
disseminated sulphide.
|
Nine holes, including the six holes reported in the above
tables, were drilled from two drill pads in the Arch area and three
holes were drilled on targets in the Burwash area. Please refer to
Figure 2 below for a map of these areas.
The Arch ultramafic sill has been the subject of several
historical exploration campaigns and has had various surveys,
including ground EM (VLF) and magnetics, helicopter EM and
magnetics (Dighem), soil geochemistry, trenching and limited
diamond drilling (three holes totalling 136
m). A shallow historical hole (1988 hole AR88-03,
18.7m length) drilled near the 2020
TDEM conductor returned assays of 1.44% Ni and 0.75% Cu, 0.65 g/t
platinum (Pt) and 1.58 g/t palladium (Pd) over 2.6m.
This year's drilling on the Arch Target intersected significant
massive to semi-massive sulphide in five holes drilled from the
Arch 1 Drill Pad (see Figure 3). Grades up to 3.85% Ni and 1.37% Cu
over 3.45m were returned.
Disseminated sulphide along with net-textured, blebby and
interstitial sulphide variably occurs above the high-grade zones
with combined massive sulphide and disseminated intervals grading
up to 1.41% Ni and 0.55% Cu over 11.95m. Analytical results from three holes
drilled from the Arch 2 Drill Pad (ASD21-007-009) and the three
holes drilled at Burwash are pending and will be released in a
subsequent news release.
Upon completion of the drilling, four holes at Arch were
surveyed by borehole EM along with three surface lines. Diamond
drilling was performed by Superior Diamond Drilling and the EM
survey was completed by SJ Geophysics.
Sulphide mineralization at Arch occurs at the base of an
outcropping ultramafic sill ("Arch Sill") that is centred four
kilometres west-northwest of the Wellgreen deposit. The sill is
approximately 100 metres thick and dips subparallel to the slope at
55-75 degrees to the south-southwest. Massive and semi-massive
sulphide mineralization is related to a thin (<2 metres)
marginal gabbro unit that occurs below a distinctive Mottled
Peridotite unit. The high-grade sulphide occurs at the marginal
gabbro/footwall contact. Footwall rocks typically consist of Hasen
Creek Formation meta-sediments. The ultramafic Arch Sill is
believed to be contemporaneous with the Permo-Triassic ultramafic
intrusion hosting the Wellgreen deposit.
Figure 4 is a general north-south cross section through the Arch
area looking west. The near surface massive sulphide intersections
are identified in red on 5 of the 6 holes drilled from this
location.
Figure 5 is a general east-west cross section through the Arch
area looking north. Please refer to this figure for the specific Ni
and Cu grades and intersections in each hole.
Preliminary borehole and surface geophysical results have been
received and are currently being validated and interpreted. The
company will publish more comprehensive and detailed results of its
2021 exploration program upon completion of the geophysics results
and receipt of all drill hole assay results, including precious
metals.
Analytical quality assurance and quality control ("QAQC")
included submission of blanks and standards. Various standards were
submitted that are appropriate for both low-grade and high-grade
Ni-Cu-PGE mineralization. Results from the standards and blanks
were reviewed and in the opinion of the Qualified Person, the
analytical results pass QAQC review. Sample preparation was
completed at the ALS facility in Whitehorse, Yukon and analysis was completed at the ALS
laboratory in North Vancouver, British
Columbia. Samples were analyzed by 4-acid digestion and
ICP-AES (ALS method MEICP-61) with platinum, palladium and gold
analysis by fire assay with ICP-AES finish (ALS method PGM-ICP23).
Complete precious metals assays are pending. Selected massive
sulphide samples are being analyzed for the full PGE + gold suite
by nickel sulphide collection fire assay with ICP-MS finish (ALS
method PGM-MS25NS).
See Table 3 below for a listing of specific drill hole location
information.
Table 3: Drill hole location information
Scientific and Technical Information
The scientific and technical information disclosed in this news
release was prepared under the supervision Cameron Bell, P. Geo., an independent geologist
on a consulting retainer contract with the Company, and a
"Qualified Person" as defined in National Instrument 43-101 –
Standards of Disclosure for Mineral Projects.
About Nickel Creek Platinum Corp.
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a
Canadian mining exploration and development company and its
flagship asset is its 100%-owned Nickel Shäw Project. The Nickel
Shäw Project is a large undeveloped nickel sulphide project in one
of the most favourable jurisdictions in the world, with an
attractive mix of metals including copper, cobalt and platinum
group metals. The Nickel Shäw Project has exceptional access to
infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which supports year-round
access to deep-sea shipping ports in southern Alaska. The Company is also investigating
additional opportunities for shareholder value creation.
The Company is led by a management team with a proven track
record of successful discovery, development, financing and
operation of large-scale projects. Our vision is to create value
for our shareholders by becoming a leading North American nickel,
copper, cobalt and PGM producer.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain information that may be
deemed "forward-looking information". Forward-looking information
can generally be identified by the use of forward-looking
terminology such as "may", "will", "expect", "intend", "believe",
"continue", "plans" or similar terminology, or negative
connotations thereof. All information in this release, other than
information of historical facts, including, without limitation,
statements with respect to the Company's 2021 drilling and
geophysics program, the timing of remaining drill results, and
general future plans and objectives for the Company and the Nickel
Shäw Project, are forward-looking information that involve various
risks and uncertainties. Although the Company believes that the
expectations expressed in such forward-looking information are
based on reasonable assumptions, such expectations are not
guarantees of future performance and actual results or developments
may differ materially from those in the forward-looking
information.
For more information on the Company and the key assumptions,
risks and challenges with respect to the forward-looking
information discussed herein, and about our business in general,
investors should review the Company's most recently filed annual
information form, and other continuous disclosure filings which are
available at www.sedar.com. Readers are cautioned not to place
undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nickel-creek-platinum-intersects-near-surface-massive-sulphide-nickel-copper-mineralization-301395961.html
SOURCE Nickel Creek Platinum Corp.