Churchill Prioritizes TB-01 Nickel Target for Follow-up Exploration at the Taylor Brook Project, Newfoundland & Labrador
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Churchill Prioritizes TB-01 Nickel Target for Follow-up Exploration at the Taylor Brook
Project, Newfoundland & Labrador
TORONTO, December 5, 2024 (GLOBE NEWSWIRE) – Churchill Resources Inc. (“Churchill” or the
“Company”) (TSXV: CRI ) is pleased to provide an update on its Taylor Brook nickel project where
drilling has been in progress since mid-September but is currently shut down for borehole geophysical
and Optical and Acoustic Televiewer surveys. These surveys along with imminent assay and
geochemical results, are anticipated to generate refined chargeability +/- conductor targets for further
drill and trench testing in Q1-Q2, 2025. As well, the Company continued soil sampling, lithogeochemical
sampling, and prospecting work through the Fall to assist in identifying potential new targets along the
~13km TB Magmatic Trend, and the new TB West licenses. To summarize:
• Ni-Cu-Co sulphides identified near surface and at depth at TB-01 in multiple holes
• Borehole IP, Televiewer, and EM surveys commencing with two geophysical crews
• 2025 work to include trenching and more drilling at TB-01, and
• Further exploration of TB Magmatic Trend along strike of TB-01
Paul Sobie, CEO, commented:
“Our Fall 2024 drill program at Taylor Brook has prioritized the TB -01 Target area within the Taylor
Brook Gabbro Complex (“TBGC”) South Lobe for nickel -copper-cobalt discovery potential, with more
work in progress to pinpoint the location of the chargeability zones/lenses/shoots that collectively are
interpreted to make up the overall target area. Our first pass geophysical survey on this grid was quite
wide at 200m intervals, so now borehole and infill surface surveys are needed to more accurately
position the Induced Polarization (“IP”) chargeability targets. Our holes have not yet intersected the
highest chargeability portions of TB -01, but did intersect nickel -copper sulphide clots, blebs and
stringers, both near surface and at depth, per Figure 1. The on-going geophysical work and televiewer
surveys will allow us to construct a first 3 -D geological/chargeability/conductor plate model of the TB-
01 area. With those results, systematic trenching, as well as more drilling on TB-01 in early 2025, can
be planned, after new permit applications are submitted and approved. A positive logistical
development is that active logging clear -cut operations are now within ~2km of the TB -01 area to the
southeast, and are moving to the northwest, such that access and bedrock exposure will continue to
improve. The TB-01 IP anomalies remain open to the southeast, so 2025 work will also be focused on
determining how far it extends in this direction.
Target TB-06 in the Layden Extension area was found to be caused by numerous magnetite layers in
altered magmatic rocks, more akin to a layered intrusive complex model potentially prospective for Ti -
V-Cr-Fe, and with depth, possible PGE -nickel-copper mineralization. Our one hole into this large IP
chargeability target encountered only trace sulphides, so the IP anomaly is interpreted to have been
caused by the cumulative layers of iron oxides.
Target TB -08 along strike with the Layden Prospect had two drill tests which did not encounter
significant intersections of sulphide mineralization, suggesting that the p rospect does not extend into
this area in the form of a large mineralized body. Borehole surveys will be completed on these holes to
search for off-hole anomalies that could still indicate potential. As well three deep holes at Layden will
be surveyed with the borehole IP equipment to enhance our 3-D modelling and target definition at depth.
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The recently closed flow-through private placement allows for continuous field and desktop work on the
project through the winter months and well into 2025. Target TB -01 has intrigued us since acquiring
the property, with its location just inside the margin of the South Lobe of the Taylor Brook Gabbro
Complex, where it is intruded by the ~ 13km long TB Magmatic Trend resistivity low feature, with
coincident, highly anomalous Ni -Cu-Co soil samples at surface. We look forward to advancing this
prospect while we continue to explore the TB Magmatic Trend and our new TB West licenses.”
Figure 1 – TBSL-1 Grid Gradient I.P. Chargeability over -300m MMT Resistivity with Sulphide Examples
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Drilling Summary
The Fall 2024 drill program of eight NQ core holes targeted three high chargeability/low resistivity targets
(TB-01, TB-06, and TB-08), which were identified earlier in the year through follow-up ground gradient
and pole- dipole IP and Controlled Source Audio Magneto -Telluric (“CSAMT”) geophysical surveys.
Assay, geochemical, petrographical and physical property samples have been selected from the
drillholes and submitted for analysis. All results are pending.
Mafic to ultramafic intrusive rocks were intersected in all holes, confirming the Company’s geological
model of a newly recognized regional magmatic system on the property that intrudes Grenvillian
gneisses as well as Late Proterozoic marbles and the Silurian Taylor Brook Gabbro. The magmatic
system drilled this Fall appears dynamic in places, particularly at the TB -01 target, where it exhibits
evidence of multiple intrusive pulses, assimilation of country rock xenoliths, and nickel -copper-cobalt
sulphide blebs, stringers and patches over short intervals, at several depths including near surface.
Mineralized glacial float samples were also prospected at TB -01 this Fall, correlating well with the soil
anomalies, and the near -surface drilled units. Assay res ults are also pending for the prospecting
samples.
Drill testing of the TB-08 and TB-06 targets at the Layden Extension Grid found the IP chargeability
anomalies to be due to layered fine-grained magnetite (+/- Titanium and Vanadium) within magmatic
intrusive rocks and presumed to be Taylor Brook G abbro North Lobe units. Minor disseminated
pyrrhotite and chalcopyrite were noted in a few of the oxide layers, however, in far lesser amounts
than at Target TB-01, as per the following table.
Taylor Brook Project 2024 Fall Drilling Program
Hole IP Target L ength Azimuth Dip Easting Northing Elevation Chargeable Mineral Observations
TB24-41 TB-01 Centre 699.00 175 -45 488625 5494524 258 sulphide blebs, stringers at 60-85m
TB24-42 TB-01 East 172.00 225 - 45 489002 5494267 286 sulphide blebs, stringers at 13-25m, 145m, hole
ended due to deviation
TB24-42B TB-01 East 488.00 225 - 45 489009 5494261 287 sulphide blebs, stringers at 11-25m, 225m, 485m
TB24-43 TB-01 West 542.00 70 - 65 488203 5494132 240.7 sulphide blebs, stringers at 499m
TB24-46 TB-06 South 184.00 215 - 45 485397 5498765 290 Fe-Ti-V oxides in three <5m zones, hole ended due to
azimuth correction
TB24-46B TB-06 South 706.00 245 - 45 485397 5498765 290 Fe-Ti-V oxides in nine zones 5-35m thick, trace Ni-Cu
sulphides at 625m
TB24-47 TB-08 South 193.00 245 - 45 483431 5499178 268 gabbronorite from 110-193m, no chargeable
minerals noted to explain IP anomaly
TB24-48 TB-08 North 136.00 225 - 65 482935 5499385 282.7 Thin sulphide (po-py) horizon at 100m, hole in
Grenville gneisses from top to EoH
Total 3,120.00
About Churchill Resources Inc.
Churchill Resources Inc. is a Canadian exploration company focused on high grade, magmatic nickel
sulphides in Canada, principally at its prospective Taylor Brook and Florence Lake properties in
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Newfoundland & Labrador. The Churchill management team, board and its advisors have decades of
combined management experience in mineral exploration and in the establishment of successful
publicly listed mining companies, both in Canada and around the world. Churchill’s Taylor Brook and
Florence Lake projects have the potential to benefit from the province’s large and diversified minerals
industry, which includes world class nickel mines and processing facilities, and a well-developed mineral
exploration sector with locally based drilling and geological expertise.
The technical and scientific information in this news release has been reviewed and approved by Dr.
Derek H.C Wilton, P.Geo., FGC, who is a “qualified person” as defined under National Instrument 43-
101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Wilton is an honourary research
professor of Economic Geology at Memorial University in St. John’s and is independent of the Company
for the purposes of NI 43-101.
Further Information
For further information regarding Churchill, please contact:
Churchill Resources Inc.
Paul Sobie, Chief Executive Officer
Tel. +1 416.365.0930 (o)
+1 647.988.0930 (m)
Email [email protected]
Alec Rowlands, Corporate Consultant
Tel. +1 416.721.4732 (m)
Email [email protected]
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