North American Nickel Acquires New Property in Ontario
North American Nickel Acquires New Property in Ontario
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2019) -
North American Nickel Inc. (TSXV: NAN) (OTCBB:
WSCRF) (CUSIP: 65704T 108)
(the "Company") is pleased to announce that it has acquired 100% ownership of property near
the southern extent of the Lingman Lake Greenstone Belt in northwest Ontario, and in the Quetico region near Thunder Bay
Ontario. The acquisition of these properties are part of the company's strategy to develop a pipeline of new nickel projects.
(Figure 1).
The Company recently staked 188 claim cells in northwest Ontario. The property, known as the Lingman Nickel Project, covers a
portion of the Archean age Lingman Lake Greenstone Belt that includes tholeiitic-komatiitic rocks and sulphide facies iron
formation. Historic field work has identified ultramafic rocks with elevated nickel and copper in grab samples. A 2011 VTEM
survey shows a strong magnetic response over 13km in strike length with numerous coincident magnetic/EM anomalies that are
untested. The compilation of historic data has been completed and the Company is preparing plans for an initial program of field
work to evaluate the Ni-Cu-Co and precious metal potential.
In addition, the Company staked a total of 809 claim cells in the Atikokan-Thunder Bay area following project generation
compilation work completed in 2018. 400 of these cells lie within the Quetico Subprovince corridor, which is known to host
intrusions with Ni-Cu-Co-PGM mineralization related to a late 2690 Ma Archean magmatic event. 409 claim cells in two distinct
blocks were acquired to follow-up on the Neoproterozoic (1100 Ma MCR) magmatic event and related intrusions. Three clusters
of claims cells, labeled Quetico South, East and West cover magnetic features interpreted to represent small differentiated
intrusions. The review of government geological and geophysical data, and historic assessment file data is ongoing.
Engagement and ongoing dialogue with the local First Nation groups will occur as the 2019 scope of work is formalized.
Technical Information; Qualified Person
The Company is not aware of any legal, political, environmental or other risks that could materially affect the potential
development of the project other than those set out in its annual information form filed on
www.sedar.com
. Please see below
under the heading "Cautionary Note Regarding Forward-looking Statements" for further details regarding risks facing the
Company.
All technical information in this release has been reviewed and approved by Peter C. Lightfoot, Ph.D., P.Geo. (Consulting Chief
Geologist), who is the Qualified Person for the Company.
About North American Nickel
North American Nickel is a mineral exploration company with 100% owned properties in Maniitsoq, Greenland and Sudbury,
Ontario.
The Maniitsoq property in Greenland is a Camp scale permitted exploration project comprising 3,048 square km covering
numerous high-grade nickel-copper + cobalt sulphide occurrences associated with norite and other mafic-ultramafic intrusions of
the Greenland Norite Belt (GNB). The >75km-long belt is situated along, and near, the southwest coast of Greenland accessible
from the existing Seqi deep water port with an all year-round shipping season and hydroelectric power potential from a
quantified watershed.
The Post Creek/Halcyon property in Sudbury is strategically located adjacent to the past producing Podolsky copper-nickel-
platinum group metal deposit of KGHM International Ltd. The property lies along the extension of the Whistle Offset dyke
structure. Such geological structures host major Ni-Cu-PGM deposits and producing mines within the Sudbury Camp.
Cautionary Note Regarding Forward-looking Statements
This press release contains certain "forward-looking statements" and "forward-looking information" under applicable securities
laws concerning the business, operations and financial performance and condition of the Company. Forward-looking statements
and forward-looking information include, but are not limited to, statements with respect to the success of exploration activities;
impact of mineralogy, estimation of mineral resources at mineral projects of the Company; the future economics of minerals
including nickel and copper; synergies and financial impact facilities; the benefits of the development potential of the properties
of the Company and currency exchange rate fluctuations. Except for statements of historical fact relating to the Company, certain
information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized
by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks
and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the
forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the
Company and there is no assurance they will prove to be correct.
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include
variations in metal grades, changes in market conditions, variations in recovery rates, risks relating to international operations,
fluctuating metal prices and currency exchange rates, and other risks of the mining industry, including but not limited to the failure
of plant, equipment or processes to operate as anticipated. The Company cautions that the foregoing list of important factors is
not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above
factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected
in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be
correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements
speak only as of the date of this press release. The Company undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change except as required by applicable securities laws.
Although the Company 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 anticipated, estimated or intended. Statements concerning mineral reserve and resource estimates may also be
deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be
encountered if the property is developed.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are
"forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934 and as that term defined in the Private Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and
uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results
.
For further information on the project, please see National Instrument 43-101 (NI 43-101) technical report prepared by SRK
Consulting (Canada) Inc. (SRK) dated effective March 17
th
, 2017, titled "Updated Independent Technical Report for the
Maniitsoq Nickel-Copper-Cobalt-PGM Project, Greenland", available under the Company's profile at
www.sedar.com
or at
www.northamericannickel.com
.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Fedikow
President
North American Nickel Inc.
For more information contact:
North American Nickel Inc.
Jaclyn Ruptash
Corporate Communications
(604) 770-4334
Toll free: 1-866-816-0118
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Figure 1
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