Photo Release -- Pure Nickel Inc. Announces New Gold Discovery in SE Alaska,
29.1 g/t Au Over 2.58 Metres
TORONTO, Dec. 11, 2012 (GLOBE NEWSWIRE) -- Pure Nickel Inc. (TSX:NIC) is
pleased to announce initial assay results for the recently completed drilling
program on the Company's 100% owned Salt Chuck Copper (Cu) – Gold (Au) –
Silver (Ag) – Palladium (Pd) property on Prince of Wales Island in
south-eastern Alaska. The 2012 six-hole drilling program encountered high
grade gold mineralization in a previously unidentified gold-bearing structure
in the western part of the property, an area known locally as North Pole Hill.
High grade intersections include 127.8 g/t Au, 57.6 g/t Ag and 2.78% Cu over
0.35 metres apparent width.
Salt Chuck Property 2012 Drill Program
Salt Chuck Property 2012 Drill Program
oIntersections of 29.1 g/t Au over 2.58 m and 1.2 g/t Au over 5.49 m
oAssociated with previously untested soil geochemical and IP anomalies on
the Salt Chuck property
oIP and soil geochemical extend 1.5 km along strike to the east and west,
and a second gold in soil anomaly splays southward and continues a further
oThe anomalies extend to the limits of the surveys – therefore the
potential mineralized structure is open in all directions
oThe discovery area is road accessible and only 10 km from Thorne Bay, AK
Dave McPherson, President and CEO of Pure Nickel Inc., stated, "It is
extremely satisfying to be able to report a new gold discovery. The styles of
mineralization encountered at North Pole Hill represent exceptional targets
for continued exploration."
Table 1. Summary of Assay Results for Au-Cu Style Mineralization
Drill Hole^1 From (m) To (m) Interval^2 Au (g/t)^3 Ag (g/t) ^ 3 Cu (%)
NPH-12-08 Hole abandoned in overburden
NPH-12-09 191.72 197.21 5.49 1.2 0.3 --
including 193.55 194.46 0.91 4.0 0.6 --
NPH-12-06 No Significant Intersections
NPH-12-04 58.00 60.58 2.58 29.1 14.1 0.79
including 60.23 60.58 0.35 127.8 57.6 2.78
NPH-12-02 259.35 260.15 0.80 0.6 2.1 0.75
and 404.85 405.25 0.40 0.1 0.6 1.10
^1Intervening hole numbers were not drilled; assays for one additional hole,
NPH-12-01, are pending.
^2Interval represents apparent width; true thickness is not known at this
^3g/t = grams per tonne.
The 2012 drilling program was designed to test coincident multi-element
(Au-Cu-Pd) soil geochemical and Induced Polarization (IP) anomalies identified
over the Salt Chuck mafic/ultramafic intrusion. The North Pole Hill anomalies
were hypothesized to reflect the presence of the same style of remobilized
magmatic Cu-Au-Pd-Ag mineralization found at the historic Salt Chuck mine,
located 2 km to the southeast.
The fact that significant mineralization was encountered in these drill holes
supports Pure Nickel's interpretation that the geochemical and IP anomalies at
North Pole Hill reflects remobilization of primary magmatic sulphides in an
east-west trending structure. The anomalies extend east-west over a distance
of 1.5 km to the limits of the surveys. A second soil geochemical anomaly
splays off from the east-west anomaly and trends southward for 1.7 km, again
to the limits of the surveys. The accompanying map shows the locations of the
2012 drill holes and mineralized intersections, also availablehere.
A photo accompanying this release is available
In addition to the remobilized gold-copper mineralization, broad zones of
anomalous palladium concentrations were encountered at greater depths in the
westernmost drill holes, including NPH-12-02 where a weighted average
concentration of 234 parts per billion (ppb) Pd was intersected over 12.85 m
apparent width. These anomalous Pd intersections appear to reflect primary
magmatic mineralization, and they raise the possibility that remobilized Pd
mineralization, such as at the Salt Chuck mine, may be associated with other
structures not yet encountered in the North Pole Hill area. Anomalous Pd
intersections are reported in Table 2.
Table 2. Summary of Anomalous Pd Intersections
Drill Hole From (m) To (m) Interval (m) Au (ppb)^1 Pt (ppb)^1 Pd (ppb)^1
NPH-12-04 105.00 148.50 43.50 18 9 94
NPH-12-02 230.90 281.00 50.10 98 8 138
including 230.90 243.75 12.85 11 9 234
^1ppb = parts per billion, 1000 ppb = 1 g/t
Drilling diameter was NQ (~60 mm). Core was transported from the drill sites
to a processing facility where it was logged and sampled. The entire holes
were sampled, with a standard sample size of 1.5 m, and 0.5 m to 1.0 m samples
in mineralized intervals. The drill core was cut in half by diamond saw, with
half placed in polyethylene sample bags. The remaining half was returned to
the core boxes for storage. Alternating blanks and standards were inserted in
the sample stream at a rate of two blanks and two standards per 96 unknown
samples. The samples were packed in rice bags and shipped by barge and truck
to Acme Labs Ltd. processing facility in Blaine, WA. Once logged into Acme's
databases, the samples were forwarded to Vancouver, BC, for analysis. All
samples were crushed to 80% passing -10 mesh, followed by pulverization of a
250 g split to 85% passing -200 mesh (Acme method code R200-250). Chemical
analysis was by 30 g Pb-collection Fire Assay with Inductively Coupled
Plasma-Emission Spectrometry (ICP-ES) finish for Pt, Pd and Au (Acme method
code 3B), and by 0.25 g multi-acid digestion (Aqua Regia-HF) followed by
Inductively Coupled Plasma-Mass Spectrometry (ICP-MS) analysis of a
multi-element package (Acme method code 1EX).
Dr. Jon Findlay, Ph.D., P.Geo., is the designated Qualified Person (QP) for
the Salt Chuck property.
About the Salt Chuck Property
The Salt Chuck Property consists of 146 contiguous federal lode mining claims
located on Prince of Wales Island on the Alaskan Panhandle, and includes the
former Salt Chuck mine. The island is accessed by ferry service, and direct
access to the property is by well-maintained U.S. Forest Service roads and by
The former Salt Chuck mine, was the largest producer of palladium in the
United States while it was in production from 1916 to 1941.It produced
approximately 300,000 metric tonnes of ore, reported by U.S. government
summaries (1948) to be 0.95 % copper, 1.96 g/t palladium, 1.12 g/t gold and
5.29 g/t silver.
About Pure Nickel Inc.
Pure Nickel is a mineral exploration company with a diverse collection of
nickel, copper and platinum group element exploration projects in North
America. In 2012 the Company was active at its flagship MAN property in
Alaska, which is fully funded under an option agreement with Itochu
Corporation of Tokyo, Japan.In addition, the Company is actively pursuing
other, non-nickel properties in North America and overseas.
Some of the statements contained herein may be forward-looking statements
which involve known and unknown risks and uncertainties.Without limitation,
statements regarding potential mineralization and resources, exploration
results, expectations, plans, and objectives of Pure Nickel are
forward-looking statements that involve various risks.The following are
important factors that could cause Pure Nickel's actual results to differ
materially from those expressed or implied by such forward-looking statements:
changes in the world wide price of mineral commodities, general market
conditions, risks inherent in mineral exploration, risks associated with
development, construction and mining operations, the uncertainty of future
exploration activities and cash flows, and the uncertainty of access to
additional capital. There can be no assurance that forward-looking statements
will prove to be accurate as actual results and future events may differ
materially from those anticipated in such statements.Pure Nickel undertakes
no obligation to update such forward-looking statements if circumstances or
management's estimates or opinions should change. The reader is cautioned not
to place undue reliance on such forward-looking statements.
The TSX Exchange does not accept responsibility for the adequacy or accuracy
of this release.
The photo is also available at Newscom, www.newscom.com, and via AP
CONTACT: For further information:
CHF Investor Relations
T. (416) 868-1079 x 231
The Howard Group Investor Relations
T. (888) 221-0915
Pure Nickel Inc.
President and CEO
T. (416) 644-0066
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