Nickel Creek Platinum Extends High Grade Nickel- Copper-PGE Mineralization at Arch Target – Drills 2.57% Ni, 1.61% Cu and 2.35 G/T Tpm over 3.84 M Highlights of the Drill Results at Arch:
NICKEL CREEK PLATINUM EXTENDS HIGH GRADE NICKEL-
COPPER-PGE MINERALIZATION AT ARCH TARGET –
DRILLS 2.57% Ni, 1.61% Cu AND 2.35 g/t TPM OVER 3.84 m
HIGHLIGHTS OF THE DRILL RESULTS AT ARCH:
• A massive sulphide interval grading 2.57% nickel (Ni), 1.61% copper (Cu) and 2.35 g/t
Total Precious Metals (TPM) over 3.84 m was intersected down-dip of semi-massive to
massive sulphide mineralization drilled in 2021 (see Photo 1 for core sample and Table 1
for drill intersection details).
• Significant disseminated + semi-massive sulphide intervals grading 0. 29 to 0.67% Ni,
0.08 to 0.43% Cu and 0.43 to 1.64 g/t TPM over 6.25 to 78.95 m intervals in 7 holes (see
Table 1 for details).
• Geophysics results show untested conductivity down -dip and along strike of current
drilling.
• Near surface massive to disseminated sulphide mineralization at depths of 7-170 m.
TORONTO, April 11, 2023 – Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) ("Nickel
Creek" or the "Company") is pleased to announce the results from its 2022 drilling and geophysics
program on the Arch Target conducted during the period of July-October 2022 in Yukon, Canada.
The timing of the release of these results was largely impacted by the unprecedented volume of
samples from exploration projects throughout Yukon submitted to the ALS preparation lab in
Whitehorse.
The drilling component of the 2022 exploration program comprised 18 holes totalling 2,975 metres
(m), of which 10 holes totalling 1,265 m were drilled on the Arch Target at the Nickel Shäw Project.
The drilling at Arch was successful in extending massive to disseminated Ni -Cu sulphide
mineralization at depth and along strike from holes drilled in 2021. See Figure 1 for a general plan
map of the areas. Eight (8) holes were drilled on the Wellgreen deposit (1,710 m) to convert
inferred mineral resources to indicated mineral resources and to collect additional geotechnical
and hydrogeological data. The 1,710 metres of drilling at Wellgreen was c arried out to support
the completion of a Prefeasibility Study (PFS) which is expected to be completed by July 2023.
“We have demonstrated the continuity of sulphide mineralization at the Arch Target including its
significant Nickel, Copper, Precious Metals and Sulphur grades. This target occurs at shallow
depths and is currently being assessed to determine if a maiden inferred resource can be outlined
here.” said Stuart Harshaw, President and CEO of Nickel Creek Platinum . “The PFS will not
include the Arch Target when produced in Q3 this year but we are excited by the opportunity for
additional higher-grade mineralization at our Nickel Shäw property.”
Photo 1: ASD22-016 High Grade intersection – Core Photo
Table 1: Arch Drilling Summary
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 0.25% Ni for the disseminated sulphide.
Figure 1: 2022 and 2021 drilling locations (Arch Target and Wellgreen Deposit) at the
Nickel Shäw Project
The Arch ultramafic sill has been the subject of several historical exploration campaigns and has
had various surveys, including ground electromagnetics (EM) and magnetics, helicopter EM and
magnetics (Dighem), soil geochemistry, trenching and limited diamond drilling ( three holes
totalling 136m). Drilling in 2021 at the Arch Target intersected significant massive to semi -
massive sulphide in six holes. Grades up to 3.85% Ni, 1.37% Cu and 3.97 g/t TPM 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, 0.55% Cu and 2.49 g/t TPM over 11.95m.
During the 2022 drill program, a massive sulphide interval grading 2.57% Ni, 1.61% Cu and 2.35
g/t TPM over 3.84 m was intersected in ASD22-016, drilled down-dip of semi-massive to massive
sulphide mineralization drilled in 2021. This is part of a larger interval grading 1.37% Ni, 0.89%
Cu and 0.89 g/t TPM over 8.73m. Significant disseminat ed and semi-massive sulphide intervals
grading 0.29 to 0.67% Ni, 0.08 to 0.43% Cu and 0.43 to 1. 64 g/t TPM over 6. 25 to 78.95 m
intervals in seven (7) holes. These intersections also contain significant sulphur (S) levels, a key
determining factor in Ni re covery at the Wellgreen deposit (see Table 1 for details). These
intersections occur at shallow depths (7-170m) over a strike length of approximately 450m. Work
is in progress to determine if sulphide mineralization at Arch can be classified as a maiden inferred
resource.
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 m thick and the base (northeast contact) 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 tha t 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. The
massive sulphide intersection in 2022 hole ASD22 -016 is associated with a potential peridotite
feeder dyke occurring below the main sill with an 8.73-m core length of combined peridotite and
massive sulphide. See Figure 2 for a plan map of Arch drill hole locations. See Figure 3 for a
general east-west longitudinal section showing geology and drill intersections through the Arch
area.
One (1) 2022 Arch hole was surveyed by borehole electromagnetics (EM) along with 14 surface
EM lines totalling approximately 4,200 m. Geophysical results show untested conductivity down-
dip and to the northeast of the 2021/22 drilling. Field-checking of near-surface conductors to the
northeast is required. Diamond drilling was performed by Superior Diamond Drilling and the EM
survey was completed by SJ Geophysics.
As part of the 2022 drill program, existing drill trails were upgraded to allow truck access to all drill
sites.
Figure 2: Plan map of Arch drillhole locations
Figure 3: General Longitudinal cross-section through Arch looking north
(intersections > 5 m are shown)
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-PM mineralization. Results from the standards and blanks were reviewed and in the
opinion of the Qualified Person, the analytical results pass QAQC review for base metals and
PMs in the low-grade type (disseminated sulphide) mineralization as well as the base metals in
the high-grade (semi-massive to massive sulphide) mineralization. Analytical QAQC for precious
metals in the higher-grade mineralization is still pending. 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).
See Table 2 for Arch drill hole location information.
Table 2: Arch Target Drill hole location information in metres
Note: Co-ordinates UTM Zone 7 NAD83.
Drilling at the Wellgreen deposit was completed to facilitate hydrogeology studies, geotechnical
studies and resource conversion. This work is part of the ongoing PFS that is expected to b e
completed by July 2023. Borehole geophysics (EM) were completed on three (3) 2022 holes at
the Wellgreen deposit. This information is being reviewed in the context of the geological model
to determine if high-grade targets are present below the current contemplated pit.
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 (“NI 43-101”).
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 a n 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 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 plans for further exploration to help
define the extent of the mineralized zone, plans to advance Arch, plans to advance the Wellgreen
deposit towards a PFS, 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.
Nickel Creek Platinum Contact:
Stuart Harshaw
President & Chief Executive Officer
1-416-304-9318