Churchill Resources Announces 1% Ni from Soil Sample at Florence Lake and Target Generation Success on all 3 nickel projects in NL
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Churchill Resources Announces 1% Ni from Soil Sample at Florence Lake
and Target Generation Success on all 3 nickel projects in NL
TORONTO, November 9, 2022 (GLOBE NEWSWIRE) – Churchill Resources Inc. (“Churchill” or
the “Company”) (TSXV: CRI) is pleased to announce partial results from its regional work this
summer on the Florence Lake, Taylor Brook and Cormack properties. These surveys have
successfully begun to identify the next generation of nickel-copper-cobalt +/- PGE targets beyond
those known from historical work, on all three of these Newfoundland and Labrador properties.
Florence Lake Project
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
1990 and1997. The CRI work to date has included compilations of all past work, a detailed
helicopter electromagnetic and magnetic sur vey and collection of ~3200 soil samples of which
results have been received for 2,346 as reported here.
Figure 1 below presents B-horizon soil sample results for Ni, Cu and Co along with conductor
axes, nickel showing locations and past drilling. Highlights include two samples requiring follow-
up assays, of which sample 902700 located ~ 35m from the known Baikie Showing returned 1.0%
Ni along with highly anomalous Co, Cu and Cr values. Sample 904061 returned 0 .16% Ni and
similarly highly anomalous Co, Cu and Cr values, and is in an unexplored area of the property
with a strong coincident EM response. The Company is particularly encouraged by the
anomalous results being seen over its newly identified extensive conductor trends.
Fig. 1 – Soil Sample Assays
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
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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 royal ty on any metals produced, in an
agreement dated June 24, 2021.
Taylor Brook Project
CRI’s regional work at Taylor Brook is focused on following a magnetic trend known to host 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 thus far from 1853 samples collected on lines 100m apart,
are presented below, emphasizing areas now being followed up to 3km to the south of the Layden
outcropping body, with line-cutting and prospecting . Stripping and trenching will follow should
mineralization be located at surface.
Fig. 2 – Heli-GT TMI Soil Sample Assays
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.
Cormack Project
The Cormack Pro perty consists of five mineral licenses totalling 262.25km 2, which tie on to the
Company’s existing Taylor Brook South block, and cover a large portion of the regional gravity
feature that appears to host the nickel-bearing Layden Magmatic Intrusive and the adjacent Taylor
Brook Gabbro Complex. The Company completed a first pass program in Q2 2022 of stream
sediment sampling as the terrain is ideal for this method with many drainage basins. Samples
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were processed , concentrated and examined by Overburden Drilli ng Management (“ODM”) in
Nepean, Ontario, who were also commissioned to interpret the results.
ODM concluded, “The objective of the program was to evaluate the Cormack property for layered
mafic intrusion(s) and Ni -Cu-PGE prospectivity. The alluvial sampli ng was successful in
identifying the possible presence of a mafic/ultramafic intrusion. Chromite is the only Ni -Cu-PGE
indicator mineral present in sufficient quantities to be of interest. The 17 samples containing
subanomalous to anomalous levels of chrom ite are located in the southwestern end of the
property within licences 032801M and 032802M (Fig. 3). The samples were essentially collected
along the property boundaries leaving ~15 km2 within the central portion of the licences for future
exploration. Furthermore, five of the six samples that yielded a single gold grain each and those
with the highest pyrite counts are also located in these two mineral licences.”
CRI is planning follow-up geophysical surveys, along with stream sediment and till
sampling in the Spring of 2023.
Fig. 3 – Chromite Sample Locations
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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 independent 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 Labrado r, Pelly Bay in Nunavut
and White River in Ontario. All projects are at the evaluation stage, with known mineralized Ni ckel-
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,
beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases
such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”,
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stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved)
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
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
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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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responsibility for the adequacy or accuracy of this news release.