Churchill Reports Balance of 2022 Results and 2023 Drilling Plans for the Taylor Brook and Florence Lake Nickel Projects
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Churchill Reports Balance of 2022 Results and 2023 Drilling Plans for the
Taylor Brook and Florence Lake Nickel Projects
TORONTO, February 13, 2023 (GLOBE NEWSWIRE) – Churchill Resources Inc. (“Churchill” or
the “ Company”) (TSXV: CRI) is pleased to announce final 2022 results from its work on the
Florence Lake and Taylor Brook properties both in Newfoundland and Labrador (NL), Canada.
Paul Sobie, CEO, remarked that “2022 was our first full year working our NL projects and we
accomplished much in advancing the high-grade nickel discovery potential on both Taylor Brook
and Florence Lake. Drilling and channel sampling of the partially outcropping Layden Intrusive
on T aylor Brook has successfully exposed b oth high-grade massive and net textured nickel-
copper-cobalt mineralization at shallow depths over approximately 200m of strike – now we must
follow those intersections to depth . In all, CRI has intersected the high -grade nickel zones at
Layden and the adjacent Western Dyke with eight drillholes (including hole TB22 -30 reported
below) with the deepest intersection at ~100m vertical.
Regionally we have now confirmed through age dating, petrography , and geochemistry that the
host gabbronorite intrusive to the nickel mineralization at Layden is of the same relative Silurian
age as the large adjacent Taylor Brook Gabbro Complex, and that the linear Layden intrusive
extends for 5km, with magnetics suggesting at least another 3km of strike. Soil sampling has
located a highly anomalous area ~2.5km southeast of Layden along the trend, now designated
TBS-1, where mineralization likely outcrops , for early 2023 follow -up. We are provisionally
planning for 5000m of drilling in 2023 that will include Layden targeted drilling focused on the
high-grade system, as well as scout holes at new targets.
At Florence Lake we are very encouraged by the large number of nickel -cobalt soil anomalies
with coincident VTEM conductors that have been defined. Most have seen little or no work by
past explorers and therefore represent potential new discoveries of high -grade nickel
mineralization. These types of magmatic system are known to contain multiple deposits at
Raglan, Thompson, and Timmins in Canada as well of course as Kambalda, in Western Australia.
Work is well along for planning and permitting the camp and a 5000m drill program on the project
in the summer, 2023, to be assisted by detailed magnetic and LiDAR surveys this spring.”
Florence Lake Project
The Florence Lake project consists of four map -staked licenses totalling 316 claims (69km 2)
located approximately 70km west of the coastal community of Postville in central Labrador. CRI
entered into a two-year option agreement with Altius Resources Inc. (“Altius”) to acquire a 100%
interest in the property, subject to a 1.6% gross sales royalty on any metals produced, in an
agreement dated June 24, 2021.
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Fig. 1
The property is host to several Raglan-type ultramafic-hosted massive and disseminated sulphide
nickel showings, and was last explored by Falconbridge, and latterly Tapestry Ventures, between
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1990 and1997. The CRI work to date has included compilations of all past work, a detailed
helicopter VTEM electromagnetic and magnetic survey, and collection of ~2,870 soil samples.
Results reported here include 524 additional samples collected and analyzed since the news
release on 9 November, 2022. As well the Company has purchased and shipped to Postville
much of the heavier items needed for construction of a field camp on the property.
Figure 1 below presents B -horizon soil sample results for Ni along with VTEM conductor axes,
nickel showings and past drilling. Based on Ni, Cu, Co, Cr and Mg anomalies from the 2022 soil
sampling work, at least twelve ne w target areas have been identified along with the known
showing areas on the CRI grids. Critically, the new targets represent geochemical footprints that
are similar-sized to much larger than the known showings; none of the twelve areas have been
drilled in past exploration programs. Metal contents at the new targets are anomalously high,
ranging between 500ppm Ni up to 0.16% Ni in sample 904061 from new target area #7 –
previously unexplored. All these areas are being compiled in detail for drill program planning
purposes.
As well at Florence Lake the Company is planning a detailed helicopter-based magnetic gradient
and LiDAR surveys, both of which will be integrated into the detailed and regional compilations in
progress. Work has commenced on an NI43 -101 report on the project, which will provide
recommended drilling and ground geophysical programs for the upcoming summer/fall field
season.The Company is planning on a 5,000m drilling program, ba sed out of a new camp to be
established on Florence Lake, and supported out of Postville and Happy Valley-Goose Bay.
Taylor Brook Project
The Taylor Brook Project consists of eight map-staked licenses containing 685 claims totalling
171.25 km2, of which six licenses totaling 166.5km2 are 100% Churchill owned, and two totalling
4.75km2 are in the 2 nd year of 3 -year options to earn 100%. Altius retains a 1.6% gross sales
royalty on the Churchill licenses.
CRI’s regional work at Taylor Brook is focus ed on following a magnetic trend host ing a near-
surface linear intrusive body thought to be the conduit to the Ni -Cu-Co-bearing Layden
gabbronorite body which has been drilled and channel sampled by the Company over the past 12
months. Examples of m assive, net -textured and breccia -type mineralization ha ve been
intersected with initial results announced in a news release dated October 11th, 2022.
Highlights of the soil sampling results from the first 1888 samples collected on 100m spaced lines
were announced on November 9th, 2022, are augmented by an additional 1617 samples collected
during October and November, 2022; the entire dataset are shown in Figure 2.
The 2022 soil sampling results continue to emphasize the anomalous nickel (plus cobalt,
chromium and magnesium) values associated with the Layden Intrusive Trend, and critically point
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to several areas with much more anomalous nickel in soil results then the known outcropping
Layden Showing mineralization – all to the southeast and towards the Taylor Brook Gabbro
Complex. Line -cutting was completed at the TBS -1 anomaly before operations ceased due to
heavy snowfall in mid-November. The Company is excited by anomaly TBS-1 which lies on the
Taylor Brook South licenses which were added to the original Altius property in 2022. Stripping
and trenching will follow detailed prospecting in the Spring.
Fig. 2
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The balance of the Company’s 2022 drilling campaign included eleven additional holes beyond
the nine holes announced on October 11 th, 2022, all tabulated below in Table 1 . The highlight
from the additional drilling was hole TB22 -30 which was drilled to intersect a small BHEM plate
within the high-grade southern area of the Layden Intrusive. The hole intersected 1.79% Ni, 0.24%
Cu and 0.04% Co over 1.46m at 124.57m representing one of the deeper intersections of high-
grade mineralization. Most of the late r holes in the 2022 program were drilled for geological
purposes to better delineate the Layden gabbronorite intrusive as well as the contained
mineralized breccia unit within where low-grade nickel, copper and cobalt values have been
Hole Name UTM X UTM Y Elevation Dip Azimuth Target Metres Drilled EOH (m) Mineralization
TB21-01E 483870 5498170 227.86 -88 220 Extended for BHEM Surveying 51 253 not sampled
TB21-10E 483868 5498167 229.00 -45 45 Extended for BHEM Surveying 151 352 not sampled
TB21-11E 483845 5498205 222.13 -50 181 Extended for BHEM Surveying 132 349 not sampled
TB21-13E 483874 5498166 230.92 -53 360 Extended for BHEM Surveying 198 379 not sampled
TB22-14 483840 5498165 227.78 -63 229 BHEM Plate 11-1 109 109 missed plate, not sampled
TB22-15 483840 5498165 229.40 -45 213 BHEM Plate 8-1 46 46 1.65%Ni, 0.41%Cu, O.03%Co / 2.35m from 5.2m 2.79%Ni,
0.54%Cu, 0.05%Co / 4.44m from 9.58m
TB22-16 483841 5498167 229.11 -82 220 BHEM Plate 12-1 166 166.3 missed plate, not sampled
TB22-17 483842 5498165 230.60 -77 197 BHEM Plate 12-1 202 202 weak Layden Bx / 48m from 136.45m, locally anomalous
in Ni, Cu & Co
TB22-18 483842 5498165 230.43 -77.5 180 BHEM Plate 3-2 151 151 missed plate, not sampled
TB22-19 483923 5498024 263.05 -48 231 BHEM Plate 5-1 214 214 2.43%Ni, 0.08%Cu, 0.04%Co / 0.55m from 106m
TB22-20 483849 5498065 252.77 -45 0 Geology - N-S transect Layden Intrusive 451 451 1.04%Ni, 0.24%Cu, 0.02%Co / 7.55m from 24.6m
TB22-21 483847 5498066 252.77 -65 350 BHEM Plate 11-2 121 121 missed plate, not sampled
TB22-22 483880 5498172 224.74 -51 17 Northern BHEM Plates 400 400 trace to weak Layden Bx / 368m from 32m, locally
anomalous in Ni, Cu and Co
TB22-23 483950 5498100 231.19 -70 360 Geology - SE Margin Layden Intrusive 193 193 not sampled
TB22-24 483958 5498118 231.19 -45 0 Northern BHEM Plates 433 433 trace to moderate Layden Bx / 14m from 276.78mm,
locally anomalous in Ni, Cu & Co
TB22-25 483950 5498100 231.19 -45 265 Geology - SE Layden Intrusive 175 175 not sampled
TB22-26 483879 5498173 226.32 -60 20 Northern BHEM Plates 345 418 not sampled
TB22-27 484114 5498101 230.90 -45 0 Geology - Layden Extension to the East 85 85 not sampled
TB22-28 484129 5498083 230.90 -45 0 Geology - Layden Extension to the East 516 516 not sampled
TB22-29 484292 5498010 219.55 -50 0 Geology - Layden Extension to the East 427 427 not sampled
TB22-30 483892 5498047 255.48 -60 320 BHEM Plate 25-1 151 151 1.79%Ni, 0.24%Cu, 0.04%Co / 1.46m from 124.57m
TB22-31 483872 5498289 204.05 -45 45 Northern BHEM Plates 350 350 not sampled
TB22-32 483872 5498289 204.05 -65 45 Northern BHEM Plates 350 350 weak to moderate Layden Bx /150m from 4.86m, locally
highly anomalous in Co (0.06%), anomalous in Ni and Cu
TB22-33 483872 5498289 204.05 -90 0 Northern BHEM Plates 322 322 not sampled
5739
CRI defines anomalous as >0.2%Ni, >0.1%Cu and >0.01%Co
Table 1 – Summary of 2022 Drilling at Taylor Brook
intersected over 100+ metres in multiple holes. The Company continues to interpret the breccia
unit as proximal and possibly coalescing at depth mineralization to the higher -grade massive
sulphides, with interesting metal tenors.
Plans for 2023 at Taylor Brook include completing the NI43 -101 report in progress, ground
CSAMT surveys over Layden and along the trend , and 5000m of drilling, roughly split between
deeper holes cha sing the high -grade mineralization at Layden to depth, and scout holes into
anomalous areas like TBS-1.
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Fig. 3
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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 and in dependent of the
Company. The soil samples were placed in labelled, sealed kraft paper bags and delivered to
Eastern Analytical of Springdale, NL, an ISO/IEC 17025 certified facility. OREAS Standards and
blanks were inserted in the sample batches. The samples were analysed using ICP 34 (inductively
coupled plasma) analytical protocols. Samples with over limit Ni contents were re-assayed using
Eastern’s Ore Grade Assay (multi acid digestion) overlimit method. Quality control results,
including the laboratory’s control samples, were evaluated immediately.
About Churchill Resources Inc.
Churchill is managed by career mining industry professionals and currently holds four exploration
projects, namely Taylor Brook in Newfoundland, Florence Lake in Labrador, Pel ly Bay in Nunavut,
and White River in Ontario. All projects are at the evaluation stage, with known mineralized Nickel-
Copper-Cobalt showings at Taylor Brook, Florence Lake and Pelly Bay, and significantly
diamondiferous kimberlitic intrusives at White River and Pelly Bay. The primary focus of Churchill is
on the continued exploration and development of the Taylor Brook and Florence Lake Nickel
Projects.
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]
Cautionary Note Regarding Forward Looking Information
This news release contains "forward -looking information" and "forward -looking statements" (collectively, "forward -
looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than
statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections
as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations,
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are not statements of historical fact and may be forward -looking statements. In this news release, forward -looking
statements relate to, among other things, the Company’s objectives, goals and exploration activities conducted and
proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any
proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future
exploration plans. These forward -looking statements are based on reasonable assumptions and estimates of
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management of the Company at the time such statements were made. Actual future results may differ materially as
forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to materially differ from any future results, performance
or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:
the expected benefits to the Company relating to the exploration conducte d and proposed to be conducted at the
Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary
nature of metallurgical test results; uncertainties relating to the availability and costs of fi nancing needed in the future,
including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in
general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold,
silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United
States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and
political or economic developments; risks and hazards associated with the business of mineral exploration,
development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations
pressures, cave-ins and flooding); inabili ty to obtain adequate insurance to cover risks and hazards; the presence of
laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships
with and claims by local communities and indigenous populations; availability of increasing costs associated with mining
inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining
necessary licenses, permits and approvals from government authorities); the unlik elihood that properties that are
explored are ultimately developed into producing mines; geological factors; actual results of current and future
exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being prel iminary
in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties
relating to the COVID -19 pandemic; and those factors described in the most recently filed management’s discussion
and analysis of the Company. Although the forward-looking statements contained in this news release are based upon
what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company
cannot assure shareholders that actual res ults will be consistent with such forward -looking statements, as there may
be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking
information, or the material factors or assumptions used to develop such forward -looking information, will prove to be
accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking
statements, except as required by applicable securities law.
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