Flying Nickel’s Minago Drill Core PGM Assay Program Returns 14.2 meters Grading 0.69g/t Platinum+Palladium+Gold in Addition to Previously Reported 1.28% Nickel in Manitoba’s Thompson Nickel Belt.
Flying Nickel’s Minago Drill Core PGM Assay Program
Returns 14.2 meters Grading 0.69g/t
Platinum+Palladium+Gold in Addition to Previously
Reported 1.28% Nickel in Manitoba’s Thompson Nickel
Belt.
Vancouver, British Columbia, April 19, 2023 – Flying Nickel Mining Corp. (“Flying Nickel”
or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) is pleased to announce the second batch
platinum-group-metals (PGM) assay results from the Company’s 100% owned Minago Nickel
PGM project (the “Minago Project”) in the Thompson Nickel Belt, Manitoba.
The assay results from the initial batch of 898 samples totalling 1,046 meters from 12 holes
were published in the news release dated March 30, 2023. All 12 reported holes returned
significant platinum, palladium and gold intersections at Minago’s Nose deposit.
Assay results from the second batch, which included 968 samples totalling 1,144 meters of
sections from 22 drill holes, have been returned and further confirmed significant platinum and
palladium intersections throughout the Nose Deposit.
Highlights from the newly acquired assay data include:
N-07-22 grading 1.25% Ni, 0.07% Cu, 0.147 g/t Pt, 0.433 g/t Pd and 0.008 g/t Au (0.588 g/t
PGM+Au) over a 7.45 meter interval from 275.25 meters downhole.
N-07-22 grading 1.20% Ni, 0.07% Cu, 0.156 g/t Pt, 0.449 g/t Pd and 0.007 g/t Au (0.611 g/t
PGM+Au) over a 6.71 meter interval from 286.39 meters downhole.
N-07-28 grading 1.33% Ni, 0.01% Cu, 0.198 g/t Pt, 0.540 g/t Pd and 0.010 g/t Au (0.749 g/t
PGM+Au) over a 6.24 meter interval from 102.23 meters downhole.
N-07-41B grading 1.29% Ni, 0.06% Cu, 0.180 g/t Pt, 0.506 g/t Pd and 0.010 g/t Au (0.695 g/t
PGM+Au) over a 14.15 meter interval from 281.79 meters downhole.
N-07-41B grading 1.47% Ni, 0.04% Cu, 0.169 g/t Pt, 0.497 g/t Pd and 0.019 g/t Au (0.685 g/t
PGM+Au) over an 8.84 meter interval from 300.07 meters downhole.
Assay results from all 22 holes are tabulated below:
Hole ID
From
(m) To (m)
Width
(m) Ni % Cu % Au g/t Pt g/t Pd g/t
Au+Pt+Pd
g/t NiEq %
N-07-01 161.00 173.44 12.44 0.82 0.10 0.004 0.097 0.214 0.315 0.91
N-07-02 107.00 113.00 6.00 0.26 <0.01 0.004 0.028 0.074 0.106 0.29
N-07-06 118.00 126.75 8.75 0.62 <0.01 0.012 0.064 0.165 0.241 0.67
N-07-07 199.00 204.00 5.00 0.31 0.01 0.002 0.064 0.131 0.197 0.34
N-07-11 313.10 330.64 17.54 0.50 0.02 0.004 0.036 0.096 0.136 0.53
N-07-13 242.00 246.72 4.72 0.61 0.03 0.013 0.064 0.133 0.210 0.66
N-07-20 154.22 159.35 5.13 0.52 0.01 0.003 0.076 0.213 0.293 0.57
N-07-21 85.34 90.09 4.75 0.18 0.01 0.003 0.032 0.072 0.107 0.20
N-07-22 249.41 255.44 6.03 0.68 0.04 0.003 0.109 0.308 0.420 0.77
N-07-22 266.88 272.64 5.76 0.94 0.06 0.007 0.124 0.347 0.478 1.04
N-07-22 275.25 282.70 7.45 1.25 0.07 0.008 0.147 0.433 0.588 1.38
N-07-22 286.39 293.10 6.71 1.20 0.07 0.007 0.156 0.449 0.611 1.34
N-07-25 173.60 183.14 9.54 0.14 <0.01 0.003 0.006 0.004 0.012 0.14
N-07-28 102.23 108.47 6.24 1.33 0.01 0.010 0.198 0.540 0.749 1.47
N-07-30 108.00 118.50 10.50 0.28 0.00 0.003 0.005 0.003 0.010 0.29
N-07-32 270.79 276.10 5.31 0.33 0.01 0.003 0.026 0.049 0.078 0.34
N-07-34 79.40 90.00 10.60 0.19 <0.01 0.003 0.005 0.003 0.010 0.19
N-07-35 221.88 229.52 7.64 0.40 0.01 0.002 0.060 0.132 0.193 0.44
N-07-36 315.05 320.00 4.95 0.60 0.01 0.006 0.077 0.189 0.272 0.65
N-07-38 175.55 184.47 8.92 0.75 0.04 0.043 0.062 0.159 0.264 0.81
N-07-39 290.27 293.75 3.48 0.94 0.03 0.004 0.110 0.274 0.387 1.02
N-07-41B 281.79 295.94 14.15 1.29 0.06 0.010 0.180 0.506 0.695 1.43
N-07-41B 300.07 308.91 8.84 1.47 0.04 0.019 0.169 0.497 0.685 1.61
N-07-43A 136.69 141.13 4.44 0.41 <0.01 0.005 0.109 0.312 0.427 0.49
N-07-43A 172.11 178.22 6.11 0.59 0.01 0.006 0.105 0.299 0.409 0.67
V-08-04B 254.72 256.14 1.42 0.16 0.02 0.003 0.005 0.003 0.010 0.17
V-08-06 165.71 168.90 3.19 0.16 0.00 0.004 0.020 0.043 0.067 0.18
* Detection limit is 10 ppm for Ni, 10 ppm for Cu, 10 ppm for Co, 5 ppb Au, 10 ppb Pt and 5 ppb
Pd.
When calculating composite grades, half the detection limit value was used when assay results
were less than the detection limit. True widths are approximately half the width observed in core.
NiEq % (Resource) = ( (Ni% x 22.04 x Ni Price $/lb) + (Cu% x 22.04 x Cu Price $/lb) + (Pt gpt /
31.1035) x Pt $/oz +(Pd gpt / 31.1035) x Pd $/oz + (Au gpt / 31.1035) x Au $/oz)/(22.04 x Ni
$/lb). This calculation assumes 100% recovery rates and does not include Cobalt due to a lack
of data. Calculation is an estimation of resource potential. Metal prices are Ni $12.4/lb, Cu
$4.1/lb, Pd $1,721/oz, Pt $1,068/oz, Au $1,904/oz based on January 13, 2023.
Ni, Cu results are from historical assays previously released. Pt, Pd, and Au are part of maiden
PGM assay in 2023 by SGS at its Burnaby B.C. lab.
Flying Nickel Minago PGM Assay Program Update
The Company has prepared and submitted a total of 3,371 samples (4,041 meters) from 47 drill
holes to SGS from Minago’s Nose deposit. The Company expects to receive and publish the
final two batches of assay results in April and May 2023.
The sample size is smaller compared to originally planned 5,450 samples totalling 7,061 meters
described in detail in the news release dated January 17, 2023. This is because Flying Nickel
had found favourable PGM assays from additional 2,116 samples totalling 2,972 meters from 13
historical (1990) drill holes by Blackhawk Mining. Nuinsco Resources Ltd. assayed those 13 drill
holes for PGM in 2004 with the following results and yet did not publish them in public.
Assay highlights from the Blackhawk series holes are tabulated below:
BHK 46A-90 grading 1.24% Ni, 0.03% Cu, 0.260 g/t Pt, 0.566 g/t Pd and 0.011 g/t Au (0.837 g/t
PGM+Au) over a 13.41 meter interval from 376.73 meters downhole.
BHK 46A-90 grading 1.54% Ni, 0.09% Cu, 0.212 g/t Pt, 0.588 g/t Pd and 0.015 g/t Au (0.815 g/t
PGM+Au) over a 5.79 meter interval from 558.09 meters downhole.
BHK 48-90 grading 1.15% Ni, 0.10% Cu, 0.196 g/t Pt, 0.524 g/t Pd and 0.036 g/t Au (0.756 g/t
PGM+Au) over a 13.94 meter interval from 278.97 meters downhole.
BHK 54-90 grading 1.63% Ni, 0.05% Cu, 0.352 g/t Pt, 0.735 g/t Pd and 0.037 g/t Au (1.124 g/t
PGM+Au) over a 6.10 meter interval from 147.83 meters downhole.
Hole ID
From
(m) To (m)
Width
(m) Ni % Cu % Au g/t Pt g/t Pd g/t
Au+Pt+Pd
g/t NiEq %
BHK 41-
R1-90 297.18 302.51 5.33 1.32 0.10 0.015 0.188 0.372 0.575 1.45
BHK 41-
R1-90 338.94 344.73 5.79 0.95 0.02 0.012 0.135 0.291 0.437 1.03
BHK 42-
R2-90 382.52 400.20 17.68 1.03 0.03 0.008 0.122 0.251 0.382 1.11
BHK 45-
90 187.45 196.06 8.61 1.22 0.07 0.034 0.232 0.477 0.742 1.38
BHK 46A-
90 376.73 390.14 13.41 1.24 0.03 0.011 0.260 0.566 0.837 1.40
BHK 46A-
90 558.09 563.88 5.79 1.54 0.09 0.015 0.212 0.588 0.815 1.72
BHK 46A-
90 581.06 589.79 8.73 0.91 0.05 0.006 0.134 0.359 0.499 1.02
BHK 48-
90 278.97 292.91 13.94 1.15 0.10 0.036 0.196 0.524 0.756 1.32
BHK 49-
R9-90 248.11 258.17 10.06 1.10 0.06 0.015 0.166 0.342 0.524 1.21
BHK 49-
R9-90 259.69 272.49 12.80 0.88 0.04 0.012 0.161 0.321 0.494 0.99
BHK 49-
R9-90 417.96 425.96 8.00 1.25 0.08 0.010 0.140 0.381 0.531 1.37
BHK 50-
90 157.58 187.91 30.33 1.02 0.05 0.008 0.118 0.354 0.479 1.12
BHK 50-
90 203.91 213.97 10.06 1.01 0.05 0.028 0.129 0.344 0.501 1.12
BHK 52-
90 294.74 301.75 7.01 0.93 0.05 0.012 0.189 0.375 0.577 1.04
BHK 53-
91 254.31 262.54 8.23 0.93 0.03 0.013 0.149 0.388 0.550 1.04
BHK 54-
90 147.83 153.92 6.10 1.63 0.05 0.037 0.352 0.735 1.124 1.84
BHK 54-
90 180.64 196.96 16.32 1.11 0.02 0.012 0.146 0.299 0.457 1.20
BHK 54-
90 297.18 318.52 21.34 0.92 0.05 0.012 0.108 0.290 0.410 1.01
* Detection limit is 10 ppm for Ni, 10 ppm for Cu, 10 ppm for Co, 5 ppb Au, 10 ppb Pt and 5 ppb
Pd. When calculating composite grades, half the detection limit value was used when assay
results were less than the detection limit. True widths are approximately half the width observed
in core.
There has been a cumulative 90,783 meters of drilling at the Minago Project by 6 operators
since 1966. Additionally, Flying Nickel drilled 2,718 meters in 2022 since acquiring the Minago
Project in February 2021. 112 of 148 boreholes (76%) that intersected the proposed Nose
deposit pit shell were missing PGM assays.
At the conclusion of the PGM assay program, PGM assay results from 7,074 samples totalling
9,050 meters of sections from 83 holes in the Nose deposit will be modeled to develop a maiden
PGM resource at the Minago Project.
Drilled by PGM Assayed by #Samples Meters Drill Holes
Various Flying Nickel 2023 3,371 4,041 47
Flying Nickel 2022 Flying Nickel 2022 336 524 3
Blackhawk 1990 Nuinsco 2004 2,116 2,972 13
Victory Nickel 2008–12 Victory Nickel 2008-12 1,251 1,513 20
Total 7,074 9,050 83
Total length of PGM assay sections and number of boreholes is estimated. Maps and charts are
available at www.flynickel.com
About Minago Project
The Minago Project is located in Canada’s Thompson Nickel Belt and currently has a NI 43-101
compliant open-pit optimized and underground, Measured and Indicated resource of 44.2 million
tonnes grading 0.74% Ni (722 million lbs contained nickel) and Inferred resource of 19.6 million
tonnes grading 0.74% Ni (319 million lbs contained nickel). The resource split is approximately
78% Nose deposit and 22% North Limb deposit at Minago. This technical report, completed by
Mercator and AGP , has an effective date of February 28, 2022, and is available under the
Company’s profile on SEDAR.
QA/QC
The sampling process incorporated blanks, standards (certified reference material) and
duplicates. The blank samples were comprised of crushed limestone; two standard types were
used which alternated from a high Ni concentration to a low Ni concentration; and duplicates
were created from half the material of the previous sample. QAQC samples were inserted at
intervals of 20.
Qualified Person
The technical contents of this news release have been prepared under the supervision of
Robert Smith, P .Geo. and he approves its content. Mr. Smith is independent of the Company.
Robert Smith is a Qualified Person as defined by the guidelines in NI 43-101.
Further information on the Company can be found at www.flynickel.com.
FLYING NICKEL MINING CORP .
ON BEHALF OF THE BOARD
John Lee
Interim Chief Executive Officer
For more information about the Company, please contact:
Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain
words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar
expressions, and statements related to matters which are not historical facts, are forward-
looking information within the meaning of applicable securities laws. Such forward-looking
statements, which reflect management’s expectations regarding Flying Nickel’s future growth,
results of operations, performance, business prospects and opportunities, are based on certain
factors and assumptions and involve known and unknown risks and uncertainties which may
cause the actual results, performance, or achievements to be materially different from future
results, performance, or achievements expressed or implied by such forward-looking
statements.
These factors should be considered carefully, and readers should not place undue reliance on
the Flying Nickel’s forward-looking statements. Flying Nickel believes that the expectations
reflected in the forward-looking statements contained in this news release and the documents
incorporated by reference herein are reasonable, but no assurance can be given that these
expectations will prove to be correct. In addition, although Flying Nickel has attempted to
identify important factors that could cause actual actions, events or results to differ materially
from those described in forward looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended. Flying Nickel
undertakes no obligation to release publicly any future revisions to forward-looking statements
to reflect events or circumstances after the date of this news or to reflect the occurrence of
unanticipated events, except as expressly required by law